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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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.
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New Mexico Educational Retirement Board Pension Solvency Analysis
New Mexico's Educational Retirement Board has $7.9 billion in unfunded pension liabilities.
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Louisiana State Employees’ Retirement System (LASERS) Pension Solvency Analysis
The Louisiana State Employees' Retirement System has only 64 percent of the assets needed to fully fund the pension system.
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Teachers’ Retirement System of Louisiana Pension Solvency Analysis
The latest, official numbers reveal that the Teachers’ Retirement System of Louisiana now has over $10 billion in unfunded pension liabilities.
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Teacher Retirement System of Texas Solvency Analysis
Investment returns failing to meet unrealistic expectations have been the largest contributor to the public pension plan's unfunded liabilities, adding over $30 billion in debt since 2001.
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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.
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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.
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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.
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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.
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New Mexico Public Employees Retirement Association Solvency Analysis
PERA administrators and stakeholders are likely to face persistent challenges made more pronounced by ongoing market and revenue volatility.
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Mississippi Public Employees’ Retirement System Solvency Analysis
Underperforming investment returns have been the biggest contributor to the growing unfunded liability, adding $6.8 billion in debt to the system since 2001.
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Answering Frequently Asked Questions About COVID-19 and Public Pensions
This resource, designed for state legislators and staff, will assist in answering crucial questions regarding how the pandemic and resulting market conditions have affected state sponsored public pension plans.
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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.
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Arkansas Teacher Retirement System Pension Solvency Analysis
Investment returns failing to meet unrealistic expectations has been the single largest contributor to unfunded liability growth, adding $1.9 billion in debt to ATRS since 2000.
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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
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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.
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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.
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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.
