This week, the National Public Pension Coalition released a new report titled Why Pensions Matter, a comprehensive examination of the origins and importance of public pensions. The report examines how public pensions have developed over time, as well as the ways in which pensions help to combat a growing retirement crisis in California and throughout the United States.
This report emphasizes that the need for public pensions is not new, and, in fact, dates back to the New Deal era as states sought out ways to provide a secure retirement for their public employees. Today, hardworking public employees must be afforded the same benefits.
According to Dave Low, Chairman of Californians for Retirement Security:
“In the last few years, there’s only been one side of the public pensions story told in California,” says Dave Low, Chairman of Californians for Retirement Security, a 1.6 million member group of public employees and retirees. “This report reveals the reasons why Californians should value public pension funds in the face of America’s retirement crisis.”