The Corner

Pension 101: Unfunded Liabilities in Ohio

 

we will be releasing our latest blockbuster report (and the final one under my tenure). This report focuses on Ohio’s five government defined benefit pension system titled, “Hanging By a Thread: Big Payouts and Promises Leave Ohio Pension Plans on the Brink of Collapse–or a Massive Bailout.” Along with the report, we are launching another dedicated website page, “Pensions 101,” aimed at providing Ohioans with information on Ohio’s government pensions. The “Pension 101″ page can be found at: http://buckeyeinstitute.org/pensions101/ (the link isn’t public yet).

As part of this report and dedicated page, we are releasing yet another innovative Buckeye Institute tool–the Retirement Comparison tool. This simple, but powerful, tool allows users to enter two basic figures: (1) how much they’d like to have each year in retirement and (2) how old they are today. The Retirement Comparison tool then provides users with the amount of cash they already need today and the amount of cash they will need at age 60 to fund the yearly retirement they’d like to have. To put these figures in perspective, we provide them with the average yearly pension paid by the five government pensions to career retirees, as well as the total payout government retirees will receive over their retirement. Needless to say, the government figures are shocking.

Check out the page and the Retirement Comparison tool and let me know what you think as soon as possible. Please do not forward this email or the link to anyone else, as we don’t want it to leak out before we publicly announce it later this week.

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