State & Local Government Organizations Oppose Proposed Federal Over-Reach

National, state and local government organizations, including the National Association of State Retirement Administrators (NASRA) and the National Council on Teachers Retirement (NCTR), are opposed to HR 6484 – the Public Employee Pension Transparency Act, recently introduced that would impose inappropriate federal reporting requirements on state and local governments regarding pension costs.

The legislation, introduced by Reps. Devin Nunes (R-Calif.), Paul Ryan (R-Wis.), and Darrell Issa (R-Calif.), on December 2nd challenges the validity of current state and local government accounting rules and practices and would mandate inappropriate federal reporting requirements on state and local governments regarding their pension costs. In addition, the legislation sets a precedent for federal intervention into areas that are the financial responsibility of, and have thus been historically regulated by, the states and/or localities. The legislation is also opposed by the United States Conference of Mayors and the National League of Cities.