Category: Public Sector Retirement

Don’t Run Out of Money: Why Annuities Matter

Running out of money in retirement is a major concern for many American workers. The phenomenon is dubbed longevity risk because of the potential danger of exhausting one’s assets before death. A core objective of any retirement plan should be to provide lifetime income insurance in the form of an annuity, which provides pension benefit

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Retirement Plans Use Too Much Jargon, Say Employees

City governments, in their roles as employers, are striving to attract talent that can support the critical work of serving communities. However, the wages of state and local government employees tend to be lower than for private sector employees with similar backgrounds. So, how can municipal employers provide a more competitive alternative? One way is

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How One City Uses a Trust to Control Pension Costs

Pensions are consuming local governments’ budgets, and many are struggling to make their payments. In Walnut Creek, California, as in a lot of cities around the nation, revenues are flattening, while expenses for employee benefits and basic services are rising. Not to mention, as our cities continue to age, infrastructure needs are ever present. Even

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Pensions, Retiree Health Benefits, and Your City’s Bond Rating

This is a guest post by Les Richmond, Vice President and Actuary of Build America Mutual (BAM). Credit ratings are the most visible (and sometimes only) independent assessment of the fiscal status of a city’s government – they have a direct impact on borrowing costs and the affordability of infrastructure investments, and they can also

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Tensions Rise for Local Leaders Trying to Fund Pensions

In light of our just-released State of the Cities 2018 report, this post is the first in a series of blogs that captures what mayors have been talking about most in 2018. According to this May’s State of the Cities 2018 report, intergovernmental relations was a topic of concern for many mayors. Interestingly, mayors across the country

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What Are Cities Doing to Keep Healthcare Costs Down?

In advance of our annual State of the Cities report, which will be released later this year, this blog series captures speeches given by mayors in 2017. This blog is part four of a four-part series focused on mayoral dialogues and sentiments around the fiscal responsibility of the city and the retirement needs of the

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State of the City: The Case of Healthcare

In advance of our annual State of the Cities report, which will be released later this year, this blog series captures speeches given by mayors in 2017. This blog is part three of a four-part series focused on mayoral dialogues and sentiments around the fiscal responsibility of the city and the retirement needs of the

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What Cities Are Doing About Pensions

In advance of our annual State of the Cities report, which will be released later this year, this blog series captures speeches given by mayors in 2017. This blog is part two of a four-part series focused on mayoral dialogues and sentiments around the fiscal responsibility of the city and the retirement needs of the

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State of the Cities: The Case of Pensions

This is an NLC staff post by Anita Yadavalli and Yang You. In advance of our annual State of the Cities report, which will be released later this year, this blog series captures speeches given by mayors in 2017. This blog is part one of a four-part series focused on mayoral dialogues and sentiments around the fiscal

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Leveraging Your City’s Employee Benefits Package

This is an NLC staff post by Anita Yadavalli. On March 11-14, city leaders from across the nation gathered at the Congressional City Conference in Washington, D.C., to speak up for city priorities and rebuild America’s infrastructure. I was quite busy during that time, flocking from meeting to meeting, greeting seasoned city leaders and welcoming

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