Pension Basics: Vesting
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Understand how vesting works in public pensions. Learn about service requirements, vesting rules, and how vesting periods changed over time.
Content Type: Resource
The Pension Basics Series
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Our Pension Basics series breaks down how public pension plans work, from guaranteed income to pension debt and benefit eligibility.
Pension Basics: Assumed Rate of Return
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Discover the assumed rate of return. Learn how it’s determined, its role in funding, and common myths regarding benefits.
Pension Basics: How Pension Benefits Are Calculated
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Pension benefits are typically a fixed monthly payment in retirement that is guaranteed for life. Some pension benefits grow with inflation. Other pension benefits can […]
Financial Resilience Report Metrics
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Funded Ratio The funded ratio for a defined benefit plan is a useful snapshot of financial health because it measures the percentage of assets that […]
Executive Director’s Report | Survival Isn’t Success: The Persistent Fragility of Public Pension Systems
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The Fragility of Public Pension Systems In April 2025, financial markets experienced a sudden and sharp decline, triggered by the Trump administration’s aggressive tariff proposals. […]
How to Account for Pension Debt in School Funding Formulas
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Equable Institute’s recent issue brief on education funding cuts driven by growing teacher retirement costs identified several key problems states and school districts face as […]
Methodology: Comparing Standard and Normalized Replacement Rates
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Replacement rates compare the value of a retirement benefit to the value of pre-retirement income. Definition: Pre-Retirement Income There are various ways that pre-retirement income can be defined. […]
RSR Policy Score Methodology (2025)
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The Retirement Security Report Policy Scores (RSR Policy Scores) are an analysis of proposed legislation that would substantially change public sector retirement benefits, using the Retirement Security Report (RSR) methodology. All […]
FAQ: Understanding the Social Security Fairness Act
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On Jan. 5, 2025, President Biden signed the Social Security Fairness Act, that eliminated the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). This […]