Steven Gassenberger
Policy Analyst, Pension Integrity Project, Reason Foundation
Steven Gassenberger is a Policy Analyst with Reason Foundation's Pension Integrity Project.
Prior to joining Reason, Gassenberger worked as a consumer advocacy manager for Xerox Corporation specializing in financial consumer regulation and compliance. He also worked as a senior associate for Stateside Associates, where he developed state-level management strategies for a variety of policy areas. Prior to that, held positions at the National Breast Cancer Coalition and the International Fund for Agricultural Development.
At Reason, Gassenberger has contributed to in-depth analysis of the Arkansas TRS, Florida FRS, Louisiana LASERS, Louisiana TRSL, Mississippi PERS, Montana MPERS, Montana TRS, New Mexico ERB, New Mexico PERA, North Dakota PERS, Texas ERS, and Texas TRS pension systems.
Gassenberger has also presented testimony in Montana, Nebraska, and Texas during state pension reform efforts.
His work has been published in The Wall Street Journal and Business Observer.
Gassenberger recently shared the stage at the Pelican Institute’s Solutions Summit 2.0 with Louisiana State Senator Barrow Peacock, Michigan State Senator Phil Pavlov, and Jonathan Williams, Chief Economist at The American Legislative Exchange Council in discussing “Fostering a Sustainable System for Louisiana.”
Gassenberger graduated from the University of New Orleans with a BA in international relations and received a MA in public policy from Tel Aviv University.
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Is private equity a public financial hazard?
Private equity funds lack clear return and risk metrics, making it hard to assess performance before investments are redeemed, often a decade or more after the initial investment.
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Delaying Mississippi PERS reform will increase cost to taxpayers
PERS faces a $25.5 billion shortfall largely due to unfunded benefit increases, investment underperformance, and insufficient employer contributions.
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House Bill 2854 threatens Oklahoma’s pension progress
House Bill 2854 would re-expose Oklahoma to unnecessary unfunded liabilities, financial risks, and hidden costs that would ultimately be borne by taxpayers.
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Texas legislature should prioritize open enrollment and TRS reform in special session
School choice and public school advocates should agree to let students attend any public school with open seats and address the Teacher Retirement System's $63 billion debt.
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Montana’s default retirement benefit option should best serve most public workers
Montana House Bill 226 would better align the default retirement benefit option with what would best most workers need.
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Montana reform would improve pension funding and retirement savings for public employees
Montana House Bill 226 would adopt actuarially determined employer contributions funding to guarantee benefits are fully funded within a specified timeframe.
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Examining the Teachers Retirement System of Texas after the pension reforms of 2019
Senate Bill 12 of 2019 made reforms, but TRS contributions will likely be insufficient because the pension plan is using outdated economic assumptions.
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Evaluating the potential impacts of Louisiana Senate Bill 438
The proposed hybrid plan is more expensive than the current pension under all scenarios.
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Paying down PSPRS debt faster is a win for taxpayers
Unfunded PSPRS and ASRS liabilities make those pension systems more costly, pressuring government budgets. Paying down pension debt as fast as possible avoids interest costs and saves taxpayers money.
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House Bill 2486 threatens Oklahoma’s pension progress
Public pension changes of the magnitude being proposed should receive rigorous actuarial and risk analyses that ensure future generations’ interests are protected.
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Senate Bill 10 undermines the Teacher Retirement System of Louisiana
SB10 is likely to weaken the Teachers’ Retirement System, which is already burdened with $9.3 billion in unfunded liabilities.
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Keeping politics out of public pension investing
Policies directing public pension systems to make politically-motivated investments can undermine fund governance and increase financial risk to future generations.
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Mississippi Public Employees’ Retirement System’s cost of living adjustment is negatively impacting solvency
The PERS COLA is not tied to inflation, serving more as an autopilot annual pay raise for retirees than a way to maintain retiree’s purchasing power throughout retirement.
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Three reasons to strengthen the Public Employees’ Retirement System of Mississippi (PERS)
Based on recent capital market forecasts it appears likely that investment returns will face significant headwinds over the next decade and underperform relative to pension plan assumed rates of return.
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Cash Balance Retirement Plan Would Offer Texas Workers Guaranteed Retirement Benefits
Both traditional defined benefit and cash balance retirement plan designs are examples of guaranteed return retirement plans that provide retirees a protected stream of lifetime income.
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How Would Senate Bill 321 Effect Texas’ Public Employee Recruitment and Retention
Only 14 percent of Texas new hires under 35 today are expected to serve a full career and receive an unreduced retirement benefit.