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Improving Public Pensions: Balancing Competing Priorities (PDF)
Brown Center on Education Policy at Brookings Link to more items from this source
Feb. 26, 2014
"It is clear that there is no one specific policy that will solve the problems of every state and local pension plan, as priorities and constraints vary widely, but ... any well-designed pension plan will strive to meet three goals: providing retirement security to workers, ensuring fiscal sustainability, and maintaining or improving the productivity of the public-sector workforce....[E]xisting defined-benefit pension systems largely fail to meet these goals by providing retirement security to some workers but not others, creating incentives for underfunding that many states have failed to resist, and embedding incentives for workers to stay in or quit the workforce that are difficult to justify."

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