State and local pension systems are at a crossroads, with pension reform efforts being spurred by ballooning cost projections and an estimated $2.7 trillion nationwide funding gap. On February 26, the Brown Center on Education Policy at Brookings will release two papers that examine pension reform efforts across the nation and provide actionable policy solutions aimed at those states still struggling with underfunded pension systems.
A presentation of the papers’ findings by authors Patrick McGuinn and Patten Priestley Mahler will be followed by a keynote presentation by San Jose Mayor Chuck Reed, and a panel discussion with leaders who have helped to develop noteworthy reforms to public pension systems at the state and local level.
In Improving Public Pensions: Balancing Competing Priorities, Mahler, Matthew Chingos and Grover Whitehurst provide policymakers and stakeholders a framework for evaluating proposed reforms to pension systems that takes into account the often competing priorities of such systems.
In Pension Politics, McGuinn examines recent public pension reform efforts in four states with diverse political climates. McGuinn highlights what activities have and have not been successful in producing meaningful reform, and details a number of recommendations for other states seeking to successfully improve their underfunded pension systems.
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