The brief’s key findings are: *A small, but significant, number of multiemployer pension plans face insolvency in the next 20 years – despite actions to reduce benefits and raise contributions. *To avoid insolvency, a Commission with representatives from plans, employers, and unions has...

A recent Issue in Brief projected that, under the most likely scenario, the aggregate funded ratio for state and local pension plans will increase from 73 percent in 2012 to 81 percent in 2016. The “optimistic” and “pessimistic” scenarios assume higher or lower, but also constant, rates...

The brief’s key findings are: *While most multiemployer pension plans are finding their financial footing, a substantial minority face serious problems. *The key reason is a declining financial base, which results in negative cash flow. *Plans deemed in “critical” condition can raise...

The brief’s key findings are: Although the introduction of defined contribution plans by some states has received considerable press attention, activity to date has been modest. Moreover, most recent shifts involve either hybrid plans or cash balance plans, rather than stand-alone defined...

The brief’s key findings are: The brief’s key findings are: *Despite a strong stock market, the funded status of public plans in 2013 remained unchanged at 72 percent for two reasons: *actuarially smoothed assets grew modestly; and *CalPERS, one of the nation’s largest plans, significantly...

The brief’s key findings are: The brief’s key findings are: *Since the financial crisis, 17 states have reduced, suspended, or eliminated cost-of-living-adjustments (COLAs) for public employee pensions. *This response was surprising as current employees and retirees tend to be legally...

The brief’s key findings are: *Private sector multiemployer pension plans, which are negotiated by a union with a group of employers, have become a focus of congressional interest. *Multiemployer plans have been hurt by an expansion of benefits during the 1990s and the twin financial crises...

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, to date, the specific nature and magnitude of these...