June 20, 2012 – Reuters’ columnist interviews NIRS executive director Diane Oakley on the most important things to consider before cutting defined benefit pension payments to public employees.
The article reports that the top five things to consider before making the leap away from defined benefit plans include:
- Pensions aren’t simply a gift from taxpayers.
- Many workers don’t get Social Security.
- Pension underfunding isn’t as bad as you think.
- Pensions are more efficient than 401(k)s.
- The retirement crisis is real.
Read the full story here.