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The Times They Are a Changin’—Pension and Benefit Reforms  

Author:  Deidra Krys-Rusoff.; Robert C. North, Jr..; Steve Kreisberg.; Steve Toole.

Source: Volume 34, Number 04, Winter 2014 , pp.1-26(26)

Municipal Finance Journal

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We all know what is on the horizon. Every stakeholder in the pension and benefit reform realm is facing enormous responsibilities and challenges. Municipal analysts are concerned about how pension and benefit changes will affect the costs of the liabilities and their impact on debt repayment. At this point, there seem to be more questions than answers, including: How will state and local municipalities address the escalating costs of pension and benefit obligations when the mere discussion of solutions seems to cause problems? How successful will negotiations be among government officials and labor representation as they navigate through promises made to employees and skyrocketing costs of the liabilities? Will the legality and enforceability of enacted pension reforms be defined by the courts? The experts on this panel share their current perspectives and their strategies for the future.

Keywords: Pension and benefit reform, debt repayment, pension costs, retirement systems, pension financing, pensions and workers

Affiliations:  1: Ferguson Wellman Capital Management Inc.; 2: New York City Retirement Systems; 3: American Federation of State, County, and Municipal Employees (AFSCME); 4: North Carolina Retirement Systems, Department of State Treasurer.

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