Blog Tag: Defined Benefits
Change is inevitable – we hear this all the time. While I’m not aware of any mandate that says as much, it often seems that change correlates with the moment we finally get comfortable doing something a certain way. Over time I’ve learned to accept Pluto's demotion, but it seems counting the planets in our solar system at eight was premature. With each New Year, I eventually start writing the correct date on my checks. My children have all come with new, fluctuating guidelines on when to introduce peanut butter. Change can be frustrating, but we learn to adapt.
The debate continues over how governmental entities should fund their pension plans. Unlike pension plans sponsored by private corporations, generally no federal laws exist that define an annual minimum required contribution. Some state and local governments have laws that define a minimum required contribution, while others have none. Most stakeholders agree on several funding policy objectives. However, some objectives are considered controversial, and even when a general objective is agreed upon, some may disagree on how to best achieve or measure the objective.