Alert:

Limited Availability of Full-Text Documents. Click here for more information, or here to request the return of a PDF online.

ED510533 - Legal Limitations on Public Pension Plan Reform. Conference Paper 2009-08

Help

Tutorial

Help |

Tutorial

Help |

Tutorial

Help With This Page

Back to Search Results Help Permalink Share this record

More Info:
Help 0 items in My Clipboard | Add record to My Clipboard

Record Details

Full-Text Availability Options:

More Info:
Help | Tutorial Help Finding Full Text | Publisher's website

Related Items: Show Related Items

Click on any of the links below to perform a new search
ERIC #:	ED510533
Title:	Legal Limitations on Public Pension Plan Reform. Conference Paper 2009-08
Authors:	Monahan, Amy B.
Descriptors:	Civil Rights; Retirement; State Regulation; Retirement Benefits; Federal Government; Government Employees; Public School Teachers; Compensation (Remuneration); Educational Policy; Educational Finance; Financial Policy; Public Policy; Policy Analysis; Compliance (Legal); Laws; Teacher Rights; Federal Regulation; Economic Change; Economic Climate; Finance Reform; Federal Legislation; Court Litigation; Contracts; Public Sector
Source:	National Center on Performance Incentives, Paper prepared for "Rethinking Teacher Retirement Benefit Systems" (Nashville, TN, Feb 19-20, 2009)
More Info: Help Peer Reviewed:	Yes
Publisher:	National Center on Performance Incentives. Peabody College of Vanderbilt University, PMB #43, 230 Appleton Place, Nashville, TN 37203. Tel: 615-322-5538; Fax: 615-322-6018; e-mail: ncpi@vanderbilt.edu; Web site: http://www.performanceincentives.org
Publication Date:	2009-02-00
Pages:	31
Pub Types:	Reports - Descriptive; Speeches/Meeting Papers
Abstract:	There is significant interest in reforming retirement plans for public school employees, particularly in light of current market conditions. This paper presents an overview of the various types of state regulation of public pension plans that affect possibilities for reform. Several states have legal protections that effectively prevent a state from making any changes to its retirement plans that would reduce the monetary value of an employee's pension from what he or she would have earned under the terms of the plan in effect on the employee's date of hire. Many other states allow changes to their pension plans only if any disadvantages of the plan amendment are offset by comparable new advantages for participants. Other states allow retirement plan changes as long as participants have been afforded due process. Nearly all of the various approaches to public pension plan protection taken by the states have significant flaws. These flaws include a lack of clarity regarding what plan changes the relevant legal standard will allow, combined with either too much or too little protection for plan participants. This paper argues that states would be well served to adopt the approach used by the federal government with respect to pension plans. The federal approach protects plan participants' currently accrued benefits, but gives employers freedom to change plan terms going forward. This approach is clear, protects legitimate participant interests, and preserves an employer's ability to respond to changing economic conditions. (Contains 94 footnotes.)
Abstractor:	As Provided
Reference Count:	0

Note:	N/A
Identifiers:	State Policy; Internal Revenue Code
Record Type:	Non-Journal
Level:	N/A
Institutions:	Vanderbilt University, National Center on Performance Incentives
Sponsors:	University of Arkansas, Department of Education Reform
ISBN:	N/A
ISSN:	N/A
Audiences:	N/A
Languages:	English
Education Level:	Elementary Secondary Education
Direct Link:	http://www.performanceincentives.org/data/files/news/ConferencePapers2009News/Monahan_2009_Final.pdf

Back to Search Results