• This report analyzes and projects the future retirement obligations in Philadelphia and illuminates the nature and scale of the pension-funding problem.
  • As pension liabilities continue to rise, state chiefs need to help educate district leaders on how their decisions affect pensions in ways they may not consider. And, of course, given that pensions are a key part of teacher benefits, state chiefs should understand how incentives built into teacher retirement plans can affect retirement behavior and school staffing.
  • Although stock markets and housing prices have risen since the bottom of the Great Recession, American households did not increase their retirement security significantly from 2010 to 2013.
  • Even if pension plans hit their investment and contribution goals, they won't be fully funded by 2042.
  • State and local pension contributions equal 3.8 percent of total budgets, but those rates will need to rise for states to get on a path toward full funding.