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October 2013 Policy Study, Number 13-6

   

Iowa Legislature and Governor Need to Focus on Pension Reform

   

Introduction

   

 

Long-term Iowa state government fiscal health and accountability should concern all Iowans.

 

While Governor Terry Branstad and the House of Representatives, led by fiscal responsibility, have brought state government back from the Great Recession into a solid financial position – there are storm clouds on the horizon. And they’re not rain or snow, but something more troubling.

 

In addition to creating and managing an annual spending budget, an important part of the long-term government financial picture is state employee retirement plans, worth billions of dollars. The impact of these legislatively approved retirement benefits on the state government budget, long-term fiscal liabilities, and taxpayers is significant.

 

Unfortunately, many people, including State Legislators, do not have a good understanding of even the basics of pension-plan management.

 

This POLICY STUDY, an updated version of the one released by the Public Interest Institute in January 2012, “Iowa’s Privileged Class: Time for a Change,” POLICY STUDY Number 12-1, will address this issue.[1]

 

   

 

Click here for pdf copy of this Policy Study

 

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