99 pages; Jan. 15, 2021."This Report has several goals. It summarizes the finances and operations of the nation's state and local pension plans today and the challenges they face. It describes the pressures, the regulatory frameworks, and the choices which have produced these current burdens and challenges. It draws some lessons from the varied institutional structures and economic outcomes of public-sector pensions and private-sector retirement programs. Finally, it suggests some routes to reform in order to promote sound pension administration and enhanced retirement security. This Report's central aim is to illuminate the pension problems faced by state and local governments, policymakers, and taxpayers -- and to encourage states and localities to address these problems." [BenefitsLink note:  This PDF document was removed from DOL website, with no official archive, as of Jan. 20, 2021.  Link is to a copy published by the authors.]