Reforming Government Pensions to Better Distribute Benefits

Research Report

Reforming Government Pensions to Better Distribute Benefits

What Are the Options?
April 6, 2015

Abstract

Efforts to reform the retirement plans provided to state and local government employees are gaining momentum across the country. Yet, the debate has focused almost exclusively on the financial problems of public pension plans, drowning out a broader discussion of how well these plans serve government employees, employers, and taxpayers. This report identifies promising reform options that could more fairly distribute retirement benefits across the public-sector workforce and help governments recruit and retain productive employees. Options include revising the plan benefit formula, offering alternative plan designs, and extending Social Security coverage to all state and local government employees.

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