The Cost of Pensions

On a nationwide basis, pension costs for state and local governments are roughly three percent of total spending.  According to data from the U.S. Census Bureau, pension costs since 1980 have been reliably stable, averaging from around four to three percent.

Pensions and Retirement Plan Enactments in 2011 State Legislatures

The following report is cross-listed here by permission of its author, Ronald K. Snell of the National Council of State Legislatures:

FINDINGS. Even more state legislatures enacted significant retirement system changes in 2011 than did so in 2010: 29 in 2011, compared to 21 in 2010. Since some states revisited the topic, in all, 41 states enacted significant revisions to at least one state retirement plan in 2010 or 2011.

Characteristics of a Healthy Retirement Plan

The principles of retirement security using the acronym SECURE, as created by The Segal Company,* succinctly highlight the characteristics of a healthy retirement system. Using this a jumping-off point, following is a brief consideration of each element – its importance as well as some current related issues.