Category: Public Sector Retirement

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

Continue reading

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

Continue reading

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.

Continue reading

Six Questions Every Elected Official Should Ask About Their City’s Retirement Benefits

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

Continue reading