NLC’s latest Municipal Action Guide includes a historical look at public sector pension plans, an overview of approaches to pension reforms, and a worksheet to help local officials navigate decision-making regarding their city’s pension plan. Pensions play a critical role in the ability of local governments to attract and retain the workforce needed to meet
Category: Public Sector Retirement
The new Government Accounting Standards Board changes described in this posting have implications for all cities. Here are some suggestions for cities that offer retiree healthcare benefits and sponsor those benefits themselves. Beginning in the fiscal year ending June 30, 2018, cities who sponsor “other postemployment benefit (OPEB)” plans (e.g., retiree healthcare) will have to
Incorporating an active policy discussion about pension funding into the budget process – even in well-funded cities – is important, because the earlier pension funding problems are confronted, the less costly they will be overall, and the less burden will be placed on future generations of taxpayers. This is a guest post by Les Richmond.
There’s no silver bullet, and it will take the implementation of several steps to actually address problems in a meaningful way. This is a guest post by Ryan Holeywell. This is the third post in a series on NLC’s public sector retirement initiative. Cities are still struggling with soaring pension costs, and Houston, Texas – home to
The Government Accounting Standards Board’s (GASB) recent changes to pension and retiree healthcare liability disclosure shine a light on the long-term fiscal burden of these benefits – even when they are not controlled by the city. This is a guest post by David A. Vaudt. This post is the second in NLC’s Public Sector Retirement
NLC recently announced the Public Sector Retirement Initiative, designed to provide timely research and educational resources to help elected officials navigate the retirement landscape, solve local government retirement challenges, and help cities achieve greater fiscal sustainability. This post is the first in NLC’s Public Sector Retirement Initiative blog series. In 2009, the city of Atlanta