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State and Local Pension Costs: Pre-Crisis, Post-Crisis, and Post-Reform

Author

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  • Alicia H. Munnell
  • Jean-Pierre Aubry
  • Anek Belbase
  • Joshua Hurwitz

Abstract

States have begun to respond to their pension challenge by enacting a mix of revenue increases and benefit cuts. These changes will, over time, improve the financial outlook for plans and help ease their impact on other budget priorities. But, t o date, the specific nature and magnitude of these effects on plan finances and overall state budgets has received little attention. This brief reports on a study designed to fill the void with an analysis of pension costs before the financial crisis, a fter the financial crisis, and after reforms for a sample of 32 plans in 15 states. The study also introduces a companion series of fact sheets on each of the sample plans and states.

Suggested Citation

  • Alicia H. Munnell & Jean-Pierre Aubry & Anek Belbase & Joshua Hurwitz, 2013. "State and Local Pension Costs: Pre-Crisis, Post-Crisis, and Post-Reform," State and Local Pension Plans Briefs ibslp30, Center for Retirement Research.
    • Handle: RePEc:crr:slpbrf:ibslp30
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    File URL: http://crr.bc.edu/briefs/state-and-local-pension-costs-pre-crisis-post-crisis-and-post-reform/
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    Cited by:

    1. Landon, Stuart & Smith, Constance, 2018. "Does a Discount Rate Rule Ensure a Pension Plan Can Pay Promised Benefits without Excessive Asset Accumulation?," Working Papers 2018-1, University of Alberta, Department of Economics.

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