Steven Gassenberger
Policy Analyst, Pension Integrity Project, Reason Foundation
Steven Gassenberger is a policy analyst with Reason Foundation's Pension Integrity Project.
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Testimony: Louisiana Senate Bill 5’s bonus payment unlikely to be a one-time cost
The funding mechanism used to pay for the bonus leverages the entire balance of the system’s experience account.
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Report finds ‘oversights’ and ‘lack of transparency’ led to Pennsylvania pension system error
The Pennsylvania Public School Employees’ Retirement System (PSERS) is increasingly dependent on highly specialized and expensive consultants to meet its fiduciary responsibilities.
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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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Testimony: Florida House Bill 971 would allow more investment in alternative assets
Florida House Bill 917 would allow the State Board of Administration to expand investment in the alternative asset market.
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Follow up analysis of the Texas Sunset Advisory Committee’s recommendations for the Texas Teacher Retirement System
According to the Texas Sunset Commission staff report, the Teacher Retirement System of Texas increased the pension system's alternative investment allocation by 26% between 2010 and 2020.
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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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Outdated retirement benefits could be contributing to public employee hiring issues
The one-size-fits-all pension plans offered to most educators and public workers around the country can make working in the public sector less attractive.
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Testimony: Recommendations for the FRS Investment Plan
Adjustments to Florida's public defined contribution retirement plan could better serve employees and taxpayers.
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Environmental and social investing can put taxpayers and public pension funds at risk
Making the world a better place does not put money into a public pension fund struggling to meet its funding requirements, nor does it pay for the benefits or cost-of-living adjustments promised to retirees.
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Structural Problems Cause Public Pension Systems to Look to Alternative Investments
Pension systems should ensure employee and employer contributions are at the proper levels and their investment return rate assumptions reflect the realistic long-term market and economic conditions.
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How to address Montana’s underfunded public pension plans
This analysis explores previous attempts to fund Montana's public pension plans and suggests new policies to consider.
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The Teacher Retirement System of Texas Is in Need of Serious Reform
After prudent reforms to the Employee Retirement System, the Texas legislature is considering bills that ignore the need to reform the Teacher Retirement System.
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These States Are Leading the Way on Pension Reform
State and local leaders seeking to make lasting improvements to government finances should look to Texas, Arizona, New Mexico, Colorado, and Michigan.
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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.
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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.
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