Tuesday, June 14, 2016

Retirement Reforms Subject of New NASRA Report

A new report, Significant Reforms to State Retirement Systems, prepared by the National Association of State Retirement Administrators (NASRA), is a comprehensive review and compilation of public pension reforms since the Great Recession and global financial crisis. The report covers the period from 2009 to 2014 and marks the greatest period of change in the history of public pensions.

The research reveals that nearly every state reduced benefits, increased contributions, or both. Most did so while retaining the traditional pension plan. The majority of the reforms transferred a higher share of the risk associated with providing retirement benefits from the state or local government to its employees.

You can access the complete report here. For details about LASERS reforms, see page 32.

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