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 provides education, reform policy options, and actuarial analysis for policymakers and stakeholders to help them design reform proposals that are practical and viable.
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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Pension Reform Newsletter: State pension bills, improving transparency, ESG investing, and more
America's 75 largest cities reported $357 billion in total debt in 2020.
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Pension Reform Newsletter: Alaska and Florida consider retirement reforms, Arizona looks to pay down debt, and more
Plus: Analysis of Milwaukee's struggling public pension plans, reform options for Mississippi, and more.
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Gov. DeSantis’ proposed budget would improve Florida’s defined contribution retirement plan for teachers, workers
The governor’s proposal would raise the state's retirement contribution rate for employers by 3 percent, bolstering employees' retirement accounts.
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Pension Reform Newsletter: Houston pension system moves into crypto investing, California pension spiking, and more.
Plus: How pension funding can impact K-12 education inequalities, New York teachers' pension plan lowers investment expectations, and more.
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State pension plan funded ratios in 2020
Most state pension plans saw significant drops in funding in the last two decades.
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Pension Reform Newsletter: State pension plans change investment return assumptions, how to improve Florida’s retirement plan, and more
Plus: Historical analysis of state pension plan funded ratios and comparisons between public and private sector teacher retirement benefits.
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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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Pension Reform Newsletter: How strong investment returns impact public pension funding
Plus: New York lowers its investment return expectations, problems for Ohio's teacher plan, new pension reports from Pew and Equable, and more.
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Three reasons why public pensions still need reform
Despite realizing excellent investment returns in 2021, public pension plans are still in need of reforms to prevent future debt and ensure they can pay out promised benefits.
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Pension Reform Newsletter: Leveraging airports to improve pension solvency, the future of reform in Pennsylvania, and more
Plus: Solutions to Montana’s pension challenges, comparing U.S. and Canadian public pensions, and more.
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Colorado’s pension debt may be worse than policymakers think
A change to PERA's mortality assumptions, which more accurately project the length of time current members will be drawing benefits from the plan, added $3.1 billion in liabilities.
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Colorado’s Missed Pension Payment Could Cost Taxpayers Millions
One simple solution—especially with the state sitting on a massive surplus—would be a prompt make-up payment.
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Pension Reform Newsletter: Inflation’s Impact on Pension Plans, High Investment Returns, and More
Plus: A possible 13th check for Texas teachers, how Florida can pay down pension debt, and more.
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Pension Reform Newsletter: Landmark Reform in Texas, How Annuities Can Improve Retirement Offerings, and More
Plus: States that are leading the way on pension reform, new report on the value of retirement benefits and more.
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Landmark Texas Pension Reform Law Tackles Funding Issues, Secures Employees’ Retirement Benefits
Senate Bill 321, the new Texas pension reform law, addresses persistent structural underfunding and will pay down over $14 billion in unfunded liabilities.
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Pension Reform Newsletter: Texas Legislature Approves Pension Reform, Retirement Choice in South Carolina, and More
Plus: Colorado and Arizona consider extra debt payments and Michigan looks to expand public employees' ability to purchase annuities.
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How State Pension Funding Ratios Have Declined Over Time
Twenty years ago, state pension plans were nearly 100 percent funded, on average. Today they are roughly 72 percent funded.
