Many assume that mandatory coverage will enhance the benefits provided to the public sector workforce.
Fact:
Mandatory coverage threatens the ability of State and local governments to address unique public sector workforce requirements.
Governments employ individuals in job categories that are unique to the public sector. An average workforce includes police, firefighters, corrections officers, teachers, highly specialized health care professionals, judges and legislators, along with many other job categories. Some of these groups require retirement arrangements that fit their unique career risks and responsibilities. The best example is public safety workers – police, firefighters, and corrections officers. The retirement systems for these workers have been specifically designed and funded to provide for their highly specialized needs.
To underscore the challenges associated with addressing this diversity, it’s important to note that proponents of mandatory coverage never address the specific benefit design and funding challenges associated with protecting the unique needs of public safety workers and other high risk public sector professionals and their survivors.
Improve the retirement security for millions of public workers.
Reduce the
cost of keeping current pension promises.
Improve state
and local government finances.
Enhance the benefits provided to the public sector workforce.