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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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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Testimony: Senate Bill 7 could weaken Louisiana State Police Retirement System
Skimming excess returns drastically alters the way a plan funds its benefits.
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Testimony: Louisiana Senate Bill 6 relies on a structurally flawed funding mechanism
The funding mechanism that SB6 would rely on is structurally flawed, financially questionable, and a national outlier in terms of providing inflation protection in a pension system.
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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.