Alex Brown

As of June 30, 2014 state and local government retirement systems held assets of $3.70 trillion. These assets are held in trust and invested to …

Retirement plan designs feature a variety of risk-bearing arrangements, ranging from an employer maintaining sole responsibility for funding guaranteed benefits, to employees bearing the full …

State and local government pension benefits are paid not from general operating revenues, but from trust funds to which public retirees and their employers contributed …

Cost-of-living adjustments (COLAs) in some form are provided on most state and local government pensions. The purpose of a COLA is to offset, or reduce, …

Unlike in the private sector, nearly all employees of state and local government are required to share in the cost of their retirement benefit. Employee …

Although hybrid plans have been in place in public sector retirement systems for decades, this plan design has received increased attention in recent years. This …