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American Academy of Actuaries Comment Letter to Sen. Orrin Hatch on State and Local Government Defined Benefit Pension Plans (PDF)
American Academy of Actuaries Link to more items from this source
[Opinion]
July 31, 2012

"In general, we support the four essential goals you identify for public pension reform: affordability and transparency, generational equity, retirement income security, and state and local funding.... Some pension plans may have taken on more risk than they can sustain or have other governance issues, but this does not imply that all defined benefit plans are unsuitable for state and local governments. These plans can be effectively maintained by state and local governments. Improving the funding and governance of many public plans will not be easy, but the benefits of doing so are substantial for both plan participants and taxpayers."

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