Abstract
This article identifies a novel approach to public pension reform, which takes into account existing political and legal constraints. It does its work in at least four ways. First, the article encourages better use of public sector resources by calling for the elimination of public pension inefficiencies. Next, it explains how to limit public pension inefficiencies, at least on a prospective basis, by moving away from defined-benefit pension plans. Third, the article describes one way to move beyond defined-benefit pension plans through the creation of a new tax expenditure program, specifically, a Pension Waiver Credits Program. Finally, it explains how to implement this new tax expenditure program to address the U.S. public pension crisis.
Recommended Citation
Randall Johnson,
Why U.S. States Need Pension Waiver Credits,
40
S. Ill. U. L.J.
203
(2015).
Available at:
https://opensiuc.lib.siu.edu/siulj/vol40/iss2/5