Sarah Beth Gehl is a Ph.D. Candidate of Public Policy in the Andrew Young School of Policy Studies at Georgia State University and Georgia Institute of Technology, Atlanta, GA. She can be reached at email@example.com.
Pension Reform in Atlanta: Funding Past Promises in an Uncertain Future
Article first published online: 5 SEP 2013
© 2013 Public Financial Publications, Inc.
Public Budgeting & Finance
Volume 33, Issue 3, pages 3–23, Fall 2013
How to Cite
GEHL, S. B., WILLOUGHBY, K. G. and BELL, M. J. (2013), Pension Reform in Atlanta: Funding Past Promises in an Uncertain Future. Public Budgeting & Finance, 33: 3–23. doi: 10.1111/j.1540-5850.2013.12012.x
- Issue published online: 5 SEP 2013
- Article first published online: 5 SEP 2013
This research assesses state and local pensions in the U.S. Concerns of locally administered pensions are addressed; actions taken and possible reforms to these plans are noted. Then, recent pension reform in Atlanta, Georgia is examined. In 2009, Atlanta had the 12th lowest funding ratio for its general employee fund compared to all other city plans in Georgia. Atlanta's story explains the depths of its pension problems, how the pension got into trouble and the changes necessary to advance fiscal sustainability. Such plans will require strict discipline by politicians, pension boards and financial managers, and tempering member expectations to reach sustainability.