Breaking windows will stimulate the economy, according to a leading public pension advocacy group. Skeptical? The National Institute on Retirement Security (NIRS) has not literally endorsed breaking windows, but a report recently published by the organization relies on the same economic fallacy.According to NIRS-whose membership consists principally of...

Many public workers are overpaid relative to their private sector counterparts, especially in large, unionized states such as Wisconsin, Ohio and California. This may sound like a controversial claim, but it shouldn't. A consensus is building about the need for reform.

Nebraska's CB plans are innovative and could be a model for other states to follow as they try and bring their budgets and pensions under control. Yet there are other, more transparent and taxpayer-friendly ways Nebraska could construct the pension system.

Shifting government workers to 401(k)-style plans would offer greater transparency and keep benefits in line with the private economy.

Current pension accounting rules significantly understate state pension plan liabilities and overstate their funding health. Using accurate accounting, Washington’s combined plans would face a $50.6 billion short fall. By private pension standards Washington’s pension system would be considered endangered.

The auto companies' defined-benefit pension plans are fundamentally unsound and may be bigger than the auto companies can pay, but are managed by government and involuntarily guaranteed by taxpayers.

The massive underfunded pension funds of states and municipalities and the precarious status of the budgets of these entities have received wide publicity recently.

Market-based measures of public pensions funding may better informstate governments and taxpayers of the liabilities and risks they face.