IDEAS home Printed from https://ideas.repec.org/h/nbr/nberch/13668.html
   My bibliography  Save this book chapter

COLA Cuts in State-Local Pensions

In: The Impact of Reforms of State Retirement Plans

Author

Listed:
  • Alicia H. Munnell
  • Jean-Pierre Aubry
  • Mark Cafarelli

Abstract

The brief’s key findings are: The brief’s key findings are: *Since the financial crisis, 17 states have reduced, suspended, or eliminated cost-of-living-adjustments (COLAs) for public employee pensions. *This response was surprising as current employees and retirees tend to be legally shielded from benefit cuts. *But the COLA cuts have largely been upheld in the courts under the rationale that – unlike core benefits – they are not part of a contractual right. *In short, defined benefit promises in the public sector are not as secure as many thought.
(This abstract was borrowed from another version of this item.)

Suggested Citation

  • Alicia H. Munnell & Jean-Pierre Aubry & Mark Cafarelli, 2015. "COLA Cuts in State-Local Pensions," NBER Chapters, in: The Impact of Reforms of State Retirement Plans, pages 311-332, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberch:13668
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Quinby, Laura D. & Wettstein, Gal, 2021. "Do deferred benefit cuts for current employees increase separation?," Labour Economics, Elsevier, vol. 73(C).

    More about this item

    JEL classification:

    • H70 - Public Economics - - State and Local Government; Intergovernmental Relations - - - General
    • H75 - Public Economics - - State and Local Government; Intergovernmental Relations - - - State and Local Government: Health, Education, and Welfare
    • H79 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:nbr:nberch:13668. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/nberrus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.