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Evaluating State Pension Policies
Jordan Pandolfo and Kurt D. Winkelmann, via SSRN Apr. 6, 2022 "[The authors] evaluate the impact of state pension reform on public and private workers, and apply this analysis to all fifty U.S. states. [They] consider [1] closing the pension plan to new entrants, [2] reducing pension benefits together with wage increases and [3] suspending cost-of-living-adjustments (COLAs).... Closing the plan to new entrants generates the most even distribution of welfare gains across job sectors and age cohorts, while COLA suspensions prove particularly harmful to public workers." |
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