BNA Daily Report for Executives, February 27, 2009
Defined benefit pension plans provided by state and local governments act as an “automatic stabilizer” for the economy, according to a report released Feb. 26 by the National Institute on Retirement Security.
Defined benefit pensions are automatic stabilizers … providing important stimulus during these tough times,” Beth Almeida, NIRS executive director and co-author of the report, told a teleconference as she announced release of the report. “Even in tough times,[state and local] retirees with a reliable pension can maintain spending on basic needs,” she said.
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