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 Foundation, 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, Gassenberger 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 an MA in public policy from Tel Aviv University.
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Testimony: Nebraska Taxpayers, Employees and Retirees Would Benefit From Pension Stress Testing
Stress testing can help stakeholders better understand the potential financial risks facing pension systems.
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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.
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North Dakota Public Employees Retirement System Pension Solvency Analysis
The public pension plan has only 68 percent of the assets needed to fully fund the system in the long-term.
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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.
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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.
