"Under financial pressure, U.S. state and local pension plans have curbed future benefit costs. But these changes have been ad hoc and unexpected. New Brunswick's new Shared Risk model is designed to respond to shocks in a more orderly and predictable way and to help head off trouble in advance. The model's key features are: splitting benefits into 'base' and 'ancillary' components; laying out detailed steps in advance for adjusting benefits and contributions; and creating a risk management framework to help keep plans on track."  MORE >>