Lately, many of our clients have asked for our help identifying new revenue sources and cost-saving measures. It’s no secret that pensions are a major expenditure for the public sector. As a result, more governments are turning to a second-tier pension system as a cost-saving measure. Napa County, California estimates that such a change could save them more than $12 million over the next decade.
This article from The Center for State and Local Government Excellence on State and Local Government Pensions: An Overview of Funding Issues and Challenges may be of interest as you consider the impacts of pension funding and retirement plans in your locality.