Discussion is to gain a sense of the overall reform initiatives undertaken/proposed for state and local pension plans, as a result of the financial management and funding issues that we have identified in this week’s reading..
I need support with this Political Science question so I can learn better. This week’s Discussion is tied to some of the research for your Budget Analysis Project. The goal of the Discussion is to gain a sense of the overall reform initiatives undertaken/proposed for state and local pension plans, as a result of the financial management and funding issues that we have identified in this week’s reading. As a preparation for the Discussion, you have to find the following information for the government unit you selected for your Budget Analysis Project. Identify the pension plan/system that covers employees for your government unit. For example, a local government may have its own pension system or be part of a larger pension system (maybe statewide). You can use information from the statewide pension system, since it is difficult to disaggregate financial information for individual plans.
Once you know the pension system, you can examine the latest pension report (CAFR) for basic information such as funding ratio, contributions as percent of payroll, and any major reforms. Please note that pension plans and systems usually have separate websites (outside of the Budget Office website), which you can search for.
Focus on the reforms that have been introduced (alternatively, there may be proposed reforms). What are the main components of the pension reform? Does it only apply to new employees, or do certain aspects apply to current employees as well? From the information that you found in the overview of the CAFR, does it seem like the reform is justified, or is it rather politically motivated?
Post your initial response to these questions. Your response should be 300 words. Please note that you will not be able to view any posts from classmates until after you have posted your response to this discussion. Requirements: 250-300 words | .doc file
