COLA cuts in state-local pensions

被引：1

作者：

Munnell, Alicia H. ^{[1
]}

Aubry, Jean-Pierre ^{[1
]}

Cafarelli, Mark ^{[1
]}

机构：

[1] Boston Coll, Ctr Retirement Res, Hovey House,258 Hammond St, Chestnut Hill, MA 02467 USA

来源：

JOURNAL OF PENSION ECONOMICS & FINANCE | 2016年 / 15卷 / 03期

关键词：

COLA; public sector pensions; pension reform; state and local government; cost-of-living; public sector employees;

D O I：

10.1017/S1474747215000372

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

Although it is often assumed that public workers have greater benefit protections than their private sector counterparts covered by the Employees Retirement Income Security Act of 1974, this paper finds that state and local governments - particularly those with generous cost-of-living adjustments (COLAs), fewer benefit protections, and financial pressures on the plan and the sponsoring government - cut COLAs for current workers and, often, for retirees. In most instances, these cuts were upheld by the courts. While the pace of COLA cuts has slowed, they are likely to reappear if plans come under renewed financial pressures.

引用

页码：311 / 332

页数：22