Ringing in the New Year and planning grand resolutions that will better our lives and those of others is many times met with a swift kick (or non-committal shove) come January 1. Sound familiar? According to research, only 9 percent of Americans are successful in meeting their New Year's goals.
In 2017, we at the Retirement Security Initiative will remain steadfast in our resolution to inform and educate policy leaders and the public regarding the importance of fair and sustainable public sector retirement plans, and organize and support policy development and advocacy efforts at the federal, state and local levels.
We firmly believe that state and local governments have a responsibility to provide essential services that protect the safety, health, welfare and quality of life for all Americans; an obligation to ensure that their retirement plans are sustainable, fiscally sound and responsibly managed so that all retirees and employees get paid what they have earned; and solutions to the funding and cost crises need to be developed with input from employees, retirees, labor, management, taxpayers and fiscal experts.
This year RSI will continue to work toward the following reform principles:
- All workers deserve safe and secure retirements.
- Retirement plans should place employees on a path to a secure retirement, regardless of tenure.
- Retirement benefits should be fair, sustainable and predictable.
- State and local governments should fully fund employee benefits, as they are earned, and incentives to underfund commitments should be eliminated.
- Unfunded liabilities should be paid down over a reasonable time period.
- Decision making and management of retirement plans should be open, transparent and non-political.
- Solutions should be designed around the specific problems and financial resources of each jurisdiction and there is no single solution that will work everywhere.
To learn more about RSI’s goals and pension reform, click here.
From all of us at RSI, good luck with your New Year’s resolutions!