Expenditures for employee retirement plans, health insurance, and other benefits, comprise a relatively small portion of total state spending. However, as public employee demographics shift and greater segments of the public sector workforce approach retirement, many states are reexamining the financial costs of promised benefits. Gradual policy and fiscal reforms are being implemented across states to reduce the future budgetary impacts of pensions without drastically undermining the retirement security of present employees or retirees.
Staff Contact: Michael Streepey
October 17, 2011