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Thursday, November 14, 2024

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Matt Gaetz resigns from Congress, ending ethics probe after Trump nominated him for attorney general; Trump's performance in Maryland keeps other races tight; New research finds Americans like public pensions; WI wave of racist texts sparks concerns over data privacy.

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Trump promises a smooth transition this time. South Dakota Sen. John Thune will lead that chamber's new majority, and one failed bill could be an omen of what a GOP trifecta in Washington will bring.

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An urban vote slump, not the rural electorate, tipped the presidential election. Minnesota voters approved more lottery money to support conservation and clean water. And a survey shows strong broadband lets rural businesses boom.

Americans make it clear: They like public pensions, new research finds

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Thursday, November 14, 2024   

North Dakota is no stranger to public pension debates. States face pressure to keep retirement systems well-funded and new data show most Americans place great value on such benefits for both government and private-sector workers.

According to the National Institute on Retirement Security, 86% of Americans believe all workers, not just those employed by state and local governments, should have a pension. There are similar approval levels when asked how important public pensions are in recruiting teachers and public safety workers.

Dan Doonan, executive director of the institute, suggested it is not too surprising to see the results.

"Pensions, along with other benefits, are part of creating that culture of careers and not jobs," Doonan explained.

Starting in January, North Dakota will close its main public pension plan for new hires, who will instead be offered a 401(k)-style benefit. The move followed debate over whether it was the right way to address a $1.9 billion unfunded liability. Backers argued it protects benefits for existing workers and taxpayers but skeptics contended it makes it harder to attract workers to the public sector.

Doonan noted the survey results overlap with the idea maintaining an experienced public-sector workforce is a good thing for community members and not just the employee and employer.

"In general, when public services are done well, they're often invisible, right?" Doonan emphasized. "We want good roads, we want safe communities, and I think Americans understand the role of having career public servants in terms of delivering those outcomes."

The Bureau of Labor Statistics said state and local governments employ about 20 million workers, which represents about 13% of the U.S. workforce.

Disclosure: The National Public Pension Coalition contributes to our fund for reporting on Budget Policy and Priorities, Livable Wages/Working Families, and Social Justice. If you would like to help support news in the public interest, click here.


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