ON-Lion Letter
Navigating the difficult waters of unfunded liabilities and public pension reform can be a daunting task, which is why the American Legislative Exchange Council's (ALEC's) Center for State Fiscal Reform has published Keeping the Promise:  State Solutions for Government Pension Reform by Dan Liljenquist, a former Utah state senator.

While much of the private sector recovers from the 2008 stock-market crash, unfunded pension liabilities are becoming a greater and greater threat to state budgets.  Keeping the Promise provides legislators and policy experts with solid principles for pension reform, based on past successes in the states -- especially Utah, Michigan, Alaska, and Rhode Island.  The solutions and model policies found in the report offer a bipartisan approach to reform and present ways to fulfill existing pension promises, while suggesting future reforms.

The report includes a guide to model policies and a series of useful resources designed to help legislators navigate the intricate details of public pension policies.  It also contains a detailed section establishing principles for pension reform.  Among them:  1.) pension reform should remove the risk that states will go functionally bankrupt due to pension obligations; 2.) pension reform should make sure that commitments and obligations to current workers are fulfilled; 3.) pension plans should be predictable and defined; and, 4.) taxpayers should not bear all the risk of pension plans.

The Lynde and Harry Bradley Foundation in Milwaukee supports ALEC's Center for State Fiscal Reform. 
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