In the News • December 1, 2009
Journal of Pension Benefits, Winter 2009 The advantages of defined benefit plans for employees are well-recognized, but less well-understood are the economic benefits these plans can provide employers and taxpayers. This article reviews the findings of a recent study on the economic efficiencies of defined benefit plans and concludes that defined benefit plans can do […]
In the News • November 9, 2009
The Detroit News, November 9, 2009 — Municipal Employees Retirement System of Michigan CEO Anne Wagner says that defined contribution plans alone cannot provide a secure retirement. She indicates that individual accounts were originally meant to be a supplement for retirement. Wagner cites a recent study by the National Institute for Retirement Security indicating that defined benefit plans […]
In the News • September 22, 2009
WSJ.com, September 22, 2009 — Public pensions were good shape before the financial crisis hit. In the wake of the market downturn, state and local officials are examining their plans to ensure continued sustainability for the next 50 years. Beth Almeida, NIRS executive director says that public pensions were “in really good shape” before the crisis […]
In the News • September 16, 2009
Columbus Dispatch, September 16, 2009 — A letter to the editor cites NIRS research indicating that defined-benefit-pension income reduces the risk of poverty and hardship among older Americans. The Pension Factor notes that pension income resulted in a savings of $7.3 billion in public-assistance expenditures and 4.7 million fewer households in poverty or near poverty in 2006 in […]
In the News • September 1, 2009
Dow Jones Newswires, September 1, 2009 — Pensions in states including Ohio, Nevada, Kentucky and New Mexico are considering or have already instituted new rules for public employees’ retirement plans, and more are expected. For police, firefighter and teachers, it’s in residents’ best interests to reduce employee turnover through traditional pensions, say Aon actuary William Fornia. […]
In the News • August 24, 2009
PLANSPONSOR, August 24, 2009 — In a Podcast interview, NIRS executive director Beth Almeida discusses the findings of the newest report “The Pension Factor.” The study finds that pensions help elder Americans avoid poverty and hardship. “Pensions reduce — and in some cases eliminate — the greater risk of poverty and public-assistance dependence that women and minority populations otherwise […]
In the News • August 21, 2009
Gainesville Sun, August 21, 2009 — Raymond T. Edmondson, Jr. writes that little attention has been paid to the important economic impact of defined benefit pensions. A 2005-2006 National Institute on Retirement Security analysis of the economic impact of public pension spending revealed substantial economic contributions by public sector retirees. Expenditures from those benefit payments supported $1.3 billion […]
In the News • August 16, 2009
Women’s Health Law Weekly, August 16, 2009 — Defined benefit pension income plays a critical role in reducing the risk of poverty and hardship among older Americans. “This analysis reveals that pensions have a unique, independent, and positive impact on older Americans economic well-being. This ‘pension factor’ is particularly powerful for improving the economic security of vulnerable older […]
In the News • August 7, 2009
The Sacramento Bee, August 7, 2009 — A new study finds that poverty rates among older households lacking pension income are about six times greater than those with such income. Key findings in the Pension Factor indicate that pension receipt among older American households in 2006 was associated with: 1.72 million fewer poor households and 2.97 million fewer […]