May 22, 2011 — In a story regarding efforts to curb retirement benefits of federal workers, The Washington Post features a NIRS chart comparing pensions. The article also quotes the NIRS executive director Diane Oakley on the benefits of pension plans.
State and local governments also didn’t follow the federal example, swinging the pendulum the other way. Most stuck with guaranteed pensions.
“These plans are always better because they’re a stable guarantee of retirement income,” said Diane Oakley, executive director of the National Institute on Retirement Security. The average monthly benefit for state and local retirees — not including Social Security — is $2,000 a month, she said.
Read the full story and see the chart here.