Tag: retirement

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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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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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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