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'Risk Is Shifting' for State and Local Employees Planning for Retirement
Route Fifty: WASHINGTON — State and local public employees around the U.S. are bearing increased risks and experiencing less certainty when it comes to the security of their retirement benefits.
During the last two decades, state governments have sought to restructure public employee retirement systems, often with an eye toward decreasing pressure on their budgets. The trend has taken place as some states and localities are grappling with how to cover the heavy cost of promised pension benefits for retired public workers.
Those affected by the changing retiree benefit landscape include employees like teachers and firefighters.
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