Steven Gassenberger
Policy Analyst, 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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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.
