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.
-
Landmark Texas Pension Reform Law Tackles Funding Issues, Secures Employees’ Retirement Benefits
Senate Bill 321, the new Texas pension reform law, addresses persistent structural underfunding and will pay down over $14 billion in unfunded liabilities.
-
Pension Plan Investments in Alternative Assets Pose Serious Risk to Taxpayers and Members
Alternative investments are the most challenging investments to value because they require assumptions about complex future cash flows and valuation multiples from future sales.
-
Legislation in Nebraska Would Use Stress Testing to Assess Municipal Pension Sustainability
Stress testing would be a significant first step in identifying and addressing the challenges facing locally-run pension plans in Nebraska.
-
Contribution Increases Could Help New Mexico’s Teacher Pension Plan, But More Changes Are Necessary
Recently proposed changes would improve the pension plan's funded status, but still fall far short of helping the plan reach full funding.
-
Some State Pension Plans Try to Downplay Poor Investment Returns
The only standard that matters to plan members and taxpayers is whether the public pension system is meeting its expected investment returns.
-
Austin Cuts Police Budget But Its Public Pension Debt Keeps Growing
The Austin Police Retirement System's total unfunded liabilities reached $582 million in 2018.
-
Evaluating the Actuarial Soundness of Texas’ Largest Public Pension Plans
Reforms would move the state towards more sustainable and responsible retirement systems that better protect Texas' teachers, public employees and taxpayers.
-
Florida’s Public Pension Investment Return Assumptions Are Too Risky and Driving Debt
Unrealistic investment return assumptions have been the largest contributor to the $30.3 billion in unfunded pension liabilities the Florida Retirement System has accumulated since 2008.
-
Despite Budget Deficit, Texas Must Stay Committed to Funding State Pension Plans
The state needs to maintain consistent payments to the retirement systems and adopt more risk-averse plan assumptions to protect worker benefits and prevent Texas taxpayers from being on the hook for more debt.
-
Committee Staff Report on Teacher Retirement System of Texas Recommends Increasing Investment Transparency
The Sunset Commission staff recommendations are a positive step towards a more sustainable retirement system for current and future Texas public servants and taxpayers.
-
New Mexico Enacts Bipartisan Pension Reform to Improve PERA Solvency
Senate Bill 72 was a necessary and crucial first step towards improving the financial health of PERA and ensuring the sustainable delivery of public employee retirement benefits for state and local workers
-
PERA’s Redesigned COLA Provides Retirees Inflation Protection and Improved Sustainability
Senate Bill 72 aligns the New Mexico Public Employees Retirement Association’s benefit adjustments with other fully-funded state pension plans and provides robust protections for retirees against inflation.
-
Proposed New Mexico PERA Board Restructuring Would Improve Expertise, Balance Representation Long-Term
The proposed legislation offers the promise of improving the experience and oversight capabilities of the Public Employees Retirement Association's governing board.
-
Redesigning Cost of Living Adjustments Would Improve PERA Sustainability
The Public Employees Retirement Association Pension Solvency Task Force projects PERA currently has only a 38 percent chance of reaching full funding by 2043.
-
Why PERA Being Only 71 Percent Funded Is Not Enough
The New Mexico Public Employees Retirement Association has at least $6.1 billion in pension debt and potentially more if its current actuarial assumptions are too aggressive, which is likely.
-
Why New Mexico Needs to Reform the Public Employees Retirement Association Now
The proposed reforms would be a meaningful step toward strengthening PERA while putting as little stress on members and taxpayers as possible.
-
PAYGO Is the Most Costly Way to Fund a Public Retirement System and Would Be Bad for New Mexico
Pensions are meant to be prefunded so that current taxpayers and current public employees share the costs of those workers’ benefits.
-
Proposed PERA Reform an Important Step Toward Pension Solvency in New Mexico
New bill would address the Public Employees Retirement Association's systemic issues by improving funding policy and adopting a more sustainable benefit adjustment mechanism.