Tag: pension

How to Navigate the Pension Landscape

Solvent pensions are crucial to local governments and the employees who serve them because they reduce financial instability. And the first step in reducing that instability is becoming informed. But navigating pension plans for your municipal workforce is no easy task. As several states have reformed their retirement systems since the Great Recession, it is

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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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Ensuring Sustainable Pension Funding for Your City

We’ve been hearing about municipal bankruptcy and Chapter 9 a lot over the past few years. But to what extent has this become the norm? Very little, according to a Governing analysis of eligible local governments that have filed for bankruptcy protection. In fact, there have been a total of only 680 bankruptcy filings since

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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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