Social Security is designed to serve as the base of retirement support, to be supplemented by employer-sponsored plans. However, approximately one-quarter of state and local government employees – currently, around 5 million workers annually – are not covered by Social Security on their...

Social Security is designed to provide a base of retirement income, to be supplemented in part by employer-sponsored retirement plans. However, approximately one-quarter of state and local government employees are not covered by Social Security, which federal law allows if their...

Federal law allows certain state and local government employees to be excluded from Social Security if they are covered by an employer pension of sufficient generosity. As a result, approximately one-quarter of state and local workers are not covered by Social Security on their current job....

Federal law allows certain state and local governments to exclude employees from Social Security coverage if the employees are provided with a sufficiently generous pension. Approximately 6.5 million such workers were not covered by Social Security in 2018. Retirement systems for non-covered...

Federal law allows certain state and local government employees to be excluded from Social Security coverage if they are covered by an employer pension of sufficient generosity. Public sector retirement systems have grown less generous in recent years, and a couple of plans could exhaust their...

Multiemployer pension plans, like other employer plans, have been challenged by two financial crises since 2000. The majority of multiemployer plans are returning to financial health, but a substantial minority face serious funding problems that are exacerbated by unique structural challenges in...

Since 2007, backloaded amortization schedules and investment returns below the assumed return (mostly during the financial crisis) added to the unfunded liability for NHRS and increased costs. However, because NHRS is a relatively small retirement system and employers do not contribute much...

It is impossible to discuss municipal finance without considering the cost of pensions and other post-retirement employee benefits (OPEB), largest of which is retiree health insurance. These costs have received enormous press coverage, usually incorporating sweeping generalities about the burden...