Zachary Christensen
Managing Director, Pension Integrity Project, Reason Foundation
Zachary Christensen is a managing director of Reason Foundation's Pension Integrity Project.
Christensen’s work with Reason's Pension Integrity Project aims to promote solvent, sustainable retirement systems that provide retirement security for government workers while reducing long-term costs for taxpayers and employees. Zachary and his team provide education, reform policy options, and actuarial analysis for policymakers and stakeholders to help them design practical and viable reform proposals.
The Pension Integrity Project has provided technical assistance to several successful pension reform efforts in recent years, including in Michigan, Colorado, Arizona, South Carolina, Texas, and other states tackling persistent pension solvency challenges.
Christensen has contributed to in-depth solvency analysis of the Arizona PSPRS, Arkansas TRS, Louisiana TRSL, Texas ERS, and Texas TRS pension plans.
Christensen's work has been published in the Los Angeles Daily News, Orange County Register, NJ.com, Colorado Politics, and many other publications. He has also been featured in the Carolina Journal and the Michigan Capitol Confidential. His research has been published by the Hoover Institution, The Platte Institute, Texas Public Policy Foundation, and Rio Grande Foundation.
Prior to joining Reason Foundation, Christensen was a pension finance analyst at Stanford University’s Hoover Institution, where he worked on widely-cited research on the funding status and accounting methods for public sector retirement systems.
Christensen holds an M.S. in Public Policy from Pepperdine University and a B.S. in Political Science from Brigham Young University.
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The Florida Retirement System’s proposed cost-of-living adjustment comes with major costs and risks
The cost-of-living adjustment proposed in Florida House Bill 945 could cost taxpayers over $47 billion over 30 years.
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House Bill 78 exposes Alaska to significant additional costs
This bill could realistically add $11.4 billion in additional costs to future state budgets and reintroduce Alaska to significant pension risk.
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Best practices in optional defined contribution plans for public workers
Governments expanding their retirement options can offer better benefits to employees and slow the growing costs caused by unfunded public pension liabilities.
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Working paper: Best practices in optional defined contribution plans
With the proliferation of unfunded pension liabilities among U.S. governments, optional defined contribution plans can serve as valuable risk mitigation solutions.
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Georgia’s teacher pension system needs reforms to address current debt, future risks
The pension plan is still $27.7 billion short on the assets needed to pay for retirement promises made to teachers.
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Is private equity a public financial hazard?
Private equity funds lack clear return and risk metrics, making it hard to assess performance before investments are redeemed, often a decade or more after the initial investment.
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Senate Bill 88 would expose Alaska to significant additional costs
This bill could realistically add $9.6 billion in additional costs to future state budgets and reintroduce Alaska to significant pension risk.
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Major costs and risks associated with restoring the Florida Retirement System’s cost-of-living adjustment
Florida's cost of bringing back COLAs could rise above $32 billion over 30 years.
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Senate Bill 11 would bring public pension risk back to Alaska
SB 11 would likely cost Alaska $9 billion in the coming decades.
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House Bill 22 and Senate Bill 35 threaten Alaska’s budgets
HB 22 and SB 35 would likely cost Alaska upwards of $800 million in the coming decades.
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Senate Bill 88 would expose Alaska to potentially higher pension costs
Senate Bill 88 would likely cost Alaska more than $8 billion in the coming decades.
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Modeling methodology and approach to analysis of public retirement systems
The Pension Integrity Project uses custom-built actuarial and employee benefit models that are tailored to reflect each unique retirement system.
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Frequently asked questions about the Personal Retirement Optimization Plan
The Personal Retirement Optimization Plan (or PRO Plan) is a new framework for public worker retirement benefits that delivers post-employment security in a cost-effective way.
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Why paying down New Hampshire pension debt faster would be a win for taxpayers
A “catch-up” payment toward the New Hampshire Retirement System's unfunded liabilities would reduce pension debt and yield long-term cost savings.
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Analysis of South Carolina Senate Bill 176
Senate Bill 176 would provide new hires a secure and attractive retirement plan that better protects the state's taxpayers.
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Analysis of Texas Senate Bill 321
Senate Bill 321 could save the state as much as $15 billion in long term costs and ensure that new employees' retirement benefits are fully funded.
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