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Study says 401(k)-style public pensions cost more than traditional plans

By Tim Reid

Public worker unions and others who back traditional pensions over 401(k)-style plans got ammunition on Tuesday from a new study that shows U.S. state governments that made the switch did not achieve the predicted savings but rather lost money.

The National Institute on Retirement Security (NERS), a non-profit group that has defended traditional public pensions, issued case studies on three states that switched to 401(k)-style defined contribution retirement plans.

Statement of Dave Low on Stockton Decision

Statement of Dave Low, Chairman, Californians for Retirement Security, a coalition of more than 1.2 million teachers, police officers, firefighters, school employees, retirees, and other public employees:

CalPERS Pension Benefits Generate $30 Billion in Economic Activity

CalPERS Pension Benefits Generate $30 Billion in Economic Activity

Additional $20 Billion invested in California

SACRAMENTO, CA - More than $30 billion in economic activity was generated by retirement benefits paid by the State’s pension fund, according to a study released by the California Public Employees’ Retirement System (CalPERS).

Statement of Dave Low on Reed Measure Court Ruling

Contact: Steven Maviglio, 916-607-8340

Statement of Dave Low, Chairman, Californians for Retirement Security, on Court Ruling on Chuck Reed's Statewide Pension Measure

"This decision simply affirms what Mayor Reed and his allies have publicly proclaimed: the real purpose of the mayor’s attack on retirement security is to eliminate the vested pension rights of teachers, firefighters, public safety officers and millions of other hard working Californians. 

Poll: Language of Reed's Pension Measure Unpopular with California Voters

Contact: Steven Maviglio, 916-607-8340

78% Reject It After Learning It Eliminates the Vested Retirement Benefit of Public Employees

Sacramento – By wide margins, California voters are opposed to key provisions in San Jose Mayor Chuck Reed’s proposed ballot measure that would eliminate the vested benefit rights of public employees, according to new data released today by Washington, D.C.-based pollster Garin-Hart-Yang.

POLL: REED’S PENSION MEASURE UNPOPULAR WITH VOTERS

Contact: Steven Maviglio, 916-607-8340

POLL: REED’S PENSION MEASURE UNPOPULAR WITH VOTERS
Only 36 Percent Support in New Statewide Poll 

Sacramento – According to a new statewide poll released today conducted by the Washington, D.C.-based GarinHartYoung Research Group, San Jose Mayor Chuck Reed’s proposed ballot measure to give cities the ability to slash the retirement benefits of existing public employees has the support of only 36 percent of California voters.