Public Sector Woes Part II -- Compensation, Pension Etc. Analyzed

In my last blog, I wrote generally about the "upheaval" or "cross roads" that public sector collective bargaining finds itself in today.  See also Unions’ Role in “the New Normal”.  This second blog looks specifically at issues of public sector compensation and reform, particularly pension reform of which I've also written before.   See  Public Sector Pensions -- The Times They are a-Changin'. 

Such reforms range from attempts to limit the scope of public bargaining as it relates to compensation; the move from defined contribution (DC) to defined benefit (DB)

Public Sector Collective Bargaining Woes

In December 2010, I blogged about the travails facing public sector pension funds, and in March 2011 I wrote a bit about the general "upheaval" in public sector collective bargaining.  See Public Sector Pensions -- The Times They are a-Changin' and Unions’ Role in “the New Normal”.  Both of these subjects have now captured the interest of a number of commentators and my next couple of blogs will analyze some recent articles.  This first blog in the series looks at the general climate change and "upheaval," and the idea that public sector labor is at a "crossroads." Review of three articles articles in particular, which represent more moderate, liberal, and conservative views of the issue, are a helpful orientation.

Guaranteed Retirement Accounts (GRAs)

In December of last year, I wrote about public employee guaranteed benefit pension funds.  As discussed in that blog, there are serious sustainability issues with these funds and many states are increasingly requiring employees to work more years before being entitled to their benefits.  Nonetheless, economics professor Teresa Ghilarducci has recently opined that “The Solution to the Pension Crisis is More Pensions,” (emphasis added), not working more.