Press Release • December 3, 2023
A new report from the National Institute on Retirement Security tracks the experience of five states that shifted new employees away from defined benefit (DB) pensions to defined contribution (DC) or cash balance plans. Among states that switched to a DC plan, costs rose, negative cash flow grew, and employee turnover increased.
In the News • November 28, 2023
In a new Forbes column, NIRS Executive Director Dan Doonan writes that the financial stability of the Teachers’ and State Employees’ Retirement System (TSERS) and State Health Plan could take a dramatic turn for the worse if the North Carolina legislature doesn’t quickly take action to remedy a provision in the recently enacted $30 billion state budget.
In the News • August 22, 2022
Public pension benefits provide a vital source of retirement security to the retired public employees who earned them during their years of public service. But the impact of public pension benefits goes beyond the retirees, spouses, and other beneficiaries of these plans. These benefit dollars also play a critical role in supporting local economies, especially […]
In the News • July 1, 2022
Saving for retirement is one of the biggest financial challenges most working families will face. People are living longer, which means more years of retirement to pay for. Costs for healthcare and long-term care remain high. Meanwhile, incomes are being squeezed by higher inflation and rising costs for housing, college, and other major life expenses. […]
In the News • May 6, 2022
We’ve all heard the old adage, “A mother’s work is never done.” From surviving sleepless nights with a newborn, to navigating the tumultuous teen years, to gently guiding adult children through life’s challenges, a mother’s job is forever. Another complexity for mothers is safeguarding their family’s financial security while also saving enough for their own […]
In the News • May 6, 2022
Pension benefits are important for providing retirement security to teachers, but their value goes beyond that. Teacher pay often is lower when compared to others with similar educational credentials, and solid benefits can help close that compensation gap. Additionally, pensions act as magnets for keeping career teachers in the classroom. Pension benefits are accumulated over […]
Press Release • January 6, 2022
For Immediate Release 401(k) Retirement Accounts Substantially More Costly than Pension Plans, According to New Analysis from the National Institute on Retirement Security Economic Efficiencies Unique to Pensions Enable Plans to Deliver Retirement Benefits at Half the Cost of 401(k) Accounts, With Four-Fifths of the Cost Differential Occurring Post-Retirement WASHINGTON, D.C., January 6, 2022 – […]
Press Release • May 10, 2021
New Research Offers Comprehensive Guide on Public Sector Hybrid Retirement Plans The National Institute on Retirement Security Hosts a Webinar on May 12 at 2 PM to Review Research WASHINGTON, D.C., May 10, 2021 – A new report provides a comprehensive overview of the many aspects of public sector hybrid retirement plan designs. The report […]
Press Release • September 17, 2018
Median Retirement Account Balance is $0 Among All Working Age Individuals; 100 Million Americans Lack Any Retirement Account Assets Retirement Savings Closely Correlated with Income and Wealth; Individuals with Retirement Accounts Have More Than Three Times Income of Those Without Accounts Webinar on Thursday, September 20, 2018, at 11 AM ET to Review Findings WASHINGTON, […]