Source: Diane Oakley, National Institute on Retirement Security (NIRS), Issue Brief, August 2015
From the press release:
A new research brief finds that most public defined benefit (DB) pension plans have effectively managed key retirement security risks – investment, adequacy, longevity and inflation risks. The research also finds that a shift to funding retirement benefits from public pensions to fixed annuities would be a more expensive approach – with 57 to 175 percent higher costs. The public workforce also could face diminished consumer protections if their benefits were provided as annuities. …..
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