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New Study Analyzes Teacher Pension Plans in Six States
Headline: New Study Analyzes Teacher Pension Plans in Six States
Publication: The National Institute on Retirement Security
Article Date: Jan 8, 2019
“A new report finds that teacher pension plans play a critical role in retaining educators while also providing greater retirement security than 401(k)-style retirement accounts. Eight out of ten educators serving in the six states studied can expect to collect pension benefits that are greater in value than what they could receive under an idealized 401(k)-type plan.” Read article…
Reform of controversial pension program approved by L.A. City Council
Headline: Reform of controversial pension program approved by L.A. City Council
Publication: Los Angeles Times
Article Date: Jan 15, 2018
“The Los Angeles City Council voted Tuesday to reform the Deferred Retirement Option Plan, which pays city cops and firefighters their salaries and early pension payments for the last five years of their careers.” Read article…
Switching Pensions to 401(k)s is Detrimental to Recruitment and Retention
Headline: Same Old Story in West Haven
Publication: National Public Pension Coalition
Article Date: Dec 12, 2018
Ten years after West Haven, Connecticut switched their police department from a pension plan to 401(k)s, a shortage of qualified officers is causing the department to lobby for a switch back to the pension plan. This follows a similar pattern to many other places from Palm Beach, Florida all the way to Alaska. Read article…
Opinion: CalSavers will enable 7.5 million more workers to start preparing for retirement
Headline: Opinion: CalSavers will enable 7.5 million more workers to start preparing for retirement
Publication: The Sacramento Bee
Article Date: Dec 24, 2018
Subjective Commentary by RESDC Executive Director, Mark Nanzer:
Retirement Security for all! Nice Op-ed by California State Treasurer John Chiang. Read Op-Ed…
New Research Brief: How Have Workers Responded to Oregon’s Auto-IRA?
Headline: New Research Brief: How Have Workers Responded to Oregon’s Auto-IRA?
Publication: Center for Retirement Research at Boston College
Article Date: Dec 15, 2018
Participation in the state-sponsored retirement plan is growing, adding nearly 2,000 active participants per month during 2018. Initial data reveal that although the plan itself has a few rough spots, workers are taking advantage of the plan in a way that looks promising for the future—and also perhaps for the future of similar plans in other states. Read article…