Roderick B. Crane, J.D.
Director, Institutional Client Relations, Public Sector Market, TIAA-CREF
Michael Heller FSA, MAAA, EA
Vice President, Actuarial Consulting Services, TIAA-CREF
Paul Yakoboski, Ph.D.
Principal Research Fellow, TIAA-CREF Institute
May 2007 |
This paper examines many of the sometimes-controversial issues raised in discussions regarding the design and funding of retirement plans for public employees. However, it does so in a different way. By focusing on development of appropriate benefits and funding policies and the use of risk management principles, we hope to provide public sector policy makers a better way to develop sound and sustainable retirement benefit policies for state and local governments and their employees based on our organization’s nearly 90 years of experience providing retirement security to individuals working in the non-profit sector.