Pension Reform In Public Higher Education
In recent years as a result of severe economic conditions, a number of colleges and universities and state and local governments have significantly altered the manner in which their employee retirement programs are structured and funded. Changes have included moving from defined benefit to defined contribution programs and increasing employee or employer contributions. Benefits have been reduced or retiree contributions to these programs have been increased. In some states and institutions employee retirement programs have been chronically underfunded and this underfunding has resulted in significant future financial liabilities. A primary objective of the Center for the Study of Higher Education's Pension Reform in Public Higher Education Project was to identify and document major changes to retirement and postretirement benefit programs at colleges and universities. Included in this review were: the manner in which programs are funded; the types of programs and benefits offered (such as defined benefit or defined contribution programs); and whether health benefits are an employer and/or employee funded component of retirement programs. The project also examined how various programs are governed and administered.
Sponsored by the Center for Studies in Higher Education, Goldman School of Public Policy and Institute of Governmental Studies.
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