"New Normal" Retirement Plan Designs: Re-engineering and Installing Sustainable Pension and OPEB Plans

This article in GFOA's Government Finance Review provides an overview of key issues that should be considered when a local government is considering changes to its pension or other post-employment benefit (OPEB) plans. The strategies detailed in the article, including changes to employee benefits and contributions, are proven to reduce the government's cost of providing sustainable pension and OPEB benefits. This article provides an overview for creating sustainable pension and OPEB plans, but implementation of these strategies will require more detailed and city-specific analysis.