TPPF: HB 2608 Restores Local Control to Pensions. 5 Reasons Why.

• Local Pensions have created  “a bureaucratic barrier to local reform benefits” by putting local pensions in state statute
• “these systems are effectively locking in place plan elements that are advantageous to its members while locking out non-members who might have other”
• leads to bad financial outcomes
• The Pension Review Board says local pensions operate at a deficit of a “collective $7.4 billion or more than $150,000 per active member”
• locals should have a seat at the table to make local pension decisions

TPPF