Pensions 2015: Securing Retirement Benefits for Current and Future Public Employees

Preview:

Minnesota’s public employee pension system is broken. The state’s reported unfunded liabilities are estimated by the state to be $17.6 billion. If reasonable economic assumptions are used, the amount is far larger. This is a ticking fiscal time bomb for Minnesota. Escalating costs will force us to choose between reducing spending on core services that are essential to our quality of life, raising taxes by a far larger amount than the Legislature did in 2013, or breaking our promises to retirees. As the Pensions 2015 report shows, these choices can be avoided if we redesign the system now.

A full copy of the report can be viewed here.