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Pension Reform Presentation to PA House

Pension Reform Presentation to PA House

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Pension Reform Presentation from Commonwealth Foundation Senior Fellow Richard Dreyfuss to PA House State Government and Finance joint committee hearing, August 14, 2012
Pension Reform Presentation from Commonwealth Foundation Senior Fellow Richard Dreyfuss to PA House State Government and Finance joint committee hearing, August 14, 2012

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Published by: Commonwealth Foundation on Aug 14, 2012
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02/15/2013

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 A Comprehensive Proposal for
Reforming Pennsylvania’s
Unsustainable RetirementSystems
 
Richard C. Dreyfuss
Business Consultant and Actuary Senior Fellow - The Commonwealth Foundation Senior Fellow - The Manhattan Institute 
PA House State Government & PA House FinanceCommittees August 14, 2012
 
Managing Pension Liabilities
2
The Public Pension Crisis
 August 18, 2006; Page A14
 “… the fundamental problem is that public
pensions are inherently political institutions.” 
 “… the current public pension system simply
isn't sustainable in the long run.” 
 
 
Three Factors Drive the PoliticalInstitution of Public Pensions
1)Poor Benchmarking2)Poor Liability Management3)Politics
3

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