Is your Public Pension Fund underfunded? Len Gilroy is the Vice President of government reform Reason Foundation. In this episode, listen in as we continue our conversation on pension reform and the collaborative approach to making lasting, meaningful, and important changes and how restructuring your public pension funds can help address underfunding issues and secure future benefits for those in the public sector. Secure the future you have for yourself and your loved ones. Tune in now!
00:40 – Len shared a few public pension funds that are 70 – 90% Funded
- Wisconsin, North Carolina (90% funded)
- Florida (80% Funded)
- Once a pension fund is lower than 50% funded, it needs a major overhaul in the system. (For example – Illinois, New Jersey)
01:47 – Len shares his best creative approach to solve underfunding public pension funds
- You need everyone in at the table, all the stakeholders to agree on the problem, and vocally throw out all public discussions
- Structural parts are fairly straight forward if you can get people called for discussions
- The money part is the harder part by getting the money to solve plans
- In order to have meaningful pension reform, you need to have both side collaborating on each other
07:50 – Why getting every stakeholder together is essential in fixing underfunding
- One of the lessons they learned is that politics is really important.
- We should offer benefits that meet people where they are and let them choose
- Pension needs to be ready to commit and stick to avoid constantly changing their pension system
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About The Author
As a securities class action attorney, my goal is to assist you in maximizing claim recoveries related to your investment portfolio, including direct claims, class action claims, class action settlement claims, derivative claims, tax recovery claims, and where appropriate to pursue whistleblower claims and more that help to protect the integrity of the securities markets. My podcast provides the legal and investment community to which my private investor, public fund, and union fund clients belong, with up-to date- information relevant to their investment portfolios. I want to assure my clients that while we may not have seen one another in person these past months, I have been working diligently on your behalf to continue to provide our practice leading services while maintaining my high level of personal attention that I believe is essential to an authentic and long lasting relationship with my clients.
For more information on ways to join cases and to increase your investment portfolio recoveries read my blogs and listen to my Pensions and Investments podcast. Providing information and creative ways to ensure my clients recover all monies due to them in the simplest ways is my overarching goal.
Atara Twersky, is of counsel at AF&T. Atara is also the bestselling author of the children’s book series, Curlee Girlee, inspired by her own young curly haired daughter and written for all curly girls in an effort to ensure they love themselves and their hair exactly as it is, understanding that their hair is part of a greater legacy they share with those who came before them. You can find out more about Atara here. Listen to other podcast episodes Pensions and Investments podcast with Atara Twersky here or wherever you listen to your favorite podcasts!