There has been a considerable amount of buzz in the lefty blogosphere about "The Plot Against Pensions" report by David Sirota for the Institute for America's Future (http://y.ourfuture.org/...). The report details the state-by-state, systematic efforts by the Pew Charitable Trusts' Public Sector Retirement Systems Project and the Laura and John Arnold Foundation to pressure state legislatures to do away with traditional defined-benefit pensions for public employees and shift these workers into riskier 401(k)-type plans.
Among the report's findings:
* Conservative activists are manufacturing the perception of a public pension crisis in order to slash modest retiree benefits.
* The pension “reforms” being pushed by conservative activists are often more expensive and risky for taxpayers than existing pension plans.
* Pew/Arnold are working together in states across the country to focus the debate over pensions primarily on slashing retiree benefits.
* If successful, this campaign will probably fuel a renewed effort to privatize Social Security.
* Since the Pew/Arnold partnership began in 2011, it has successfully lobbied legislatures in several states to switch from defined-benefit plans to hybrids (a combination of a defined-benefit and 401k plan): Florida, Rhode Island, Kansas, Kentucky, Montana. It is widely expected that this partnership will next move into California, Colorado, Pennsylvania, Oklahoma and Nevada.
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