Magazine article Government Finance Review

Pension Plans Bolster Economy at Low Cost

Magazine article Government Finance Review

Pension Plans Bolster Economy at Low Cost

Article excerpt

Public pension plans are resilient, pose little burden on taxpayers, and stimulate the U.S. economy, according to a research report from the National Conference on Public Employee Retirement Systems (NCPERS).The report,"Public Pensions Are a Good Deal for Taxpayers," dissects several arguments used by ideological organizations to discredit public pension funds on grounds that they are inadequately funded. NCPERS has long argued that underfunding levels are calculated using highly politicized processes in many states and should be taken with a grain of salt.

Critics often advance the false imperative that cities and states should be able to cover their long-term pension liabilities with current revenues, according to NCPERS. That isn't how advance funding models work, however, whether for public pensions or other long-term goals such as retirement or college savings. …

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