In the News • October 12, 2023
In a Forbes column, NIRS Executive Director Dan Doonan writes that there’s no arguing that Swift’s economic footprint is big and will only grow as her international tour continues and she releases re-records of her previous albums. But there’s an economic juggernaut bigger than Swiftonomics that occurs every single day. It’s called Pensionomics, or the […]
In the News • August 29, 2023
In a new Forbes column, NIRS Executive Director Dan Doonan writes about the impact of North Dakota’s decision to close their main public employee pension plan due to underfunding. While legislators may see closing the plan as a quick fix, examples from other states such as Alaska and Michigan show that the consequences of this […]
In the News • August 14, 2023
In a new Forbes column, NIRS Executive Director Dan Doonan writes about a new Government Accountability Office (GAO) report, Older Workers: Retirement Account Disparities Have Increased by Income and Persisted by Race Over Time. The analysis finds that many Americans are losing ground when it comes to building retirement savings, despite policy efforts to improve workers’ savings. […]
In the News • July 18, 2023
In a Forbes column, NIRS Executive Director Dan Doonan writes time is on the side of those who save early, and this is just as true for Congress and Social Security as it is for an office worker putting savings into their 401(k). The options for strengthening Social Security’s finances only become more expensive the […]
In the News • June 1, 2023
In a Forbes column, NIRS Executive Director Dan Doonan writes financial stress is particularly high among public service workers, which shouldn’t be surprising given that government wage growth lags behind the private sector. In fact, a new report from MissionSquare Research Institute found that a whopping 88 percent of public service employees expressed concern about their personal finances and financial […]
In the News • May 18, 2023
In a Forbes column, NIRS Executive Director Dan Doonan writes that demonstrated way to keep teachers over their careers is to offer them a defined benefit (DB) pension. While there is a high degree of churn in the early years, as new teachers decide whether education is the right career for them, once teachers stay […]
In the News • April 27, 2023
In a Forbes column, NIRS Executive Director Dan Doonan writes that state leaders have learned the hard way that ending pension benefits comes with little to be gained and a big price to pay. More specifically, states that shifted new employees from defined benefit pensions to defined contribution or cash balance plans experienced increased costs […]
In the News • April 24, 2023
In a Forbes column, NIRS Executive Director Dan Doonan writes Corporate retirement plan sponsors reevaluating their benefit packages have a variety of retirement products available to them, including defined benefit pension plans. In fact, some companies may already have an existing “frozen” or closed pension plan on their balance sheet. In fact, a JP Morgan […]
In the News • March 27, 2023
In a Forbes column, NIRS Executive Director Dan Doonan writes that one segment of the workforce has been on stable ground when it comes to retirement: the state and local government workforce. Today, the vast majority of state and local workers have a defined benefit (DB) pension, and nearly three-fourths of public employees participate in […]