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In this blog I and multiple commenters have broached the subject of the suspect constitutionality of PSPRS' replacement of the old perma...

Tuesday, March 12, 2013

PSPRS Members: Please watch this video!

The following video was produced by Ontario (Canada) Teachers' Pension Plan (OTPP):

Pension Plan Evolution

Stunningly well done, it has the production values of a PBS documentary and a narrative that holds the viewer's attention for its entire 23 minutes.  Surpassing even these outstanding filmmaking qualities is the information provided.

The documentary deals soberly, fairly, and openly with many of the unavoidable issues affecting defined benefit pensions.  It features important players involved in different public pensions, as well as Alicia H. Munnell, the director of Boston College's Center for Retirement Research, an expert who probably knows more about defined benefit pensions than anyone in the United States.

Canada's economy survived the 2008-2009 financial crisis in much better condition than either the United States or Europe, so if they are implementing reforms to their public pension, it would be wise if we paid attention and learned some lessons about preventing crises, rather than waiting until after the damage is already done.

All readers should do themselves a favor, and watch this video.

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