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Roger Showley, SAN DIEGO UNION-TRIBUNE
Saturday, October 23, 2010
Kelly Cunningham, National University System
Answer: Yes
The most immediate and positive economic impact on pension finances at all levels of government would be to ratchet up the retirement age of public employees to at least consistency with private sector plans.
This would immediately improve contributions to the funds -- lengthens worker’s compensation into the program -- lessens required actuarial contributions - by lowering expected payout -- and reduces costs of funding -- incrementally fewer workers in plan.
Having the most experienced workers performing their work a few more years is an added benefit.
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