Category: Public Sector Retirement

How Cities Can Use Retirement Benefits To Recruit Talent

This is a co-authored post by Anita Yadavalli, program director for city fiscal policy in NLC’s Center for City Solutions, and Jean-Pierre Aubry, associate director of state and local research at the Center for Retirement Research at Boston College. It is the third piece in a three-part series about pensions and healthcare. Each piece includes insights gained

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How to Measure Pension Fiscal Health in Your City

The state of retirement funding has become an obvious fiscal concern for city governments, especially since the Great Recession. In fact, a recent National League of Cities survey revealed the cost of employee/retiree pensions ranks third (following infrastructure needs and public safety needs) among the most negative factors impacting city budgets. Perhaps more telling is

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Strategies for Recruiting a 21st Century Workforce

This is a guest post by Steve Vermette, vice president of brokerage at Colonial Life & Accident Insurance Company. Budget cutbacks, an aging workforce nearing retirement and the need for a deeper pool of talent are creating a perfect storm for governments looking to recruit skilled workers — and keep them long term. Public sector employers are

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What Should City Leaders Do About Healthcare?

This is the second piece in a three-part series about pensions and healthcare. Each piece will include insights gained at different state municipal league meetings across the country. Find the first installment here. The National League of Cities (NLC) was recently back on the road — this time to discuss healthcare. Williamsburg, Virginia, home to

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Retirement (In)security: Why Financial Literacy Matters

This is the first piece in a three-part series about pensions and healthcare. Each piece will include insights gained at different state municipal league meetings across the country. The National League of Cities recently visited Wichita, Kansas for the annual conference of the League of Kansas Municipalities. The conference had a huge turnout, and while

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Making Informed Choices About Public Sector Pension Plans

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

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How Cities Can Prepare for the New OPEB Accounting Requirements

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

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Here’s What City Leaders Need to Know About Pension Budget Discussions

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.

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6 Ways Cities Can Reform Their Pension Systems

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

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How Pension Standards Can Help Cities Chart Their Future Path

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

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