Converting large public sector DB plans to DC arrangements is not a financial panacea; instead, it would create higher costs, inefficiencies and increased risks for employers, taxpayers and members, according a study.
The study, Shifting Public Sector DB Plans to DC – The Experience so far and Implications for Canada, examines the claim that converting public sector DB plans to DC is in the best interests of taxpayers and other stakeholders by studying the experience of other jurisdictions, including Australia, Michigan, Nebraska, New York City, Saskatchewan and Texas.
JANET MCFARLAND
The Globe and Mail
THIS IS THE STUDY
The experience so far and implications for Canada
October 2014
Robert L. Brown, PhD, FCIA, FSA, ACAS
Craig McInnes
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In this BLOG we will look at pensions and their impact on what are called Public Private Partnerships or P3’s. IT will also deal with other pension matters, such as Defined Contribution Plans (DC) vs Defined Benefit (DB) PLANS, the weakness in private plans, the need for pension reform in public pensions to have shareholder rights, directorships and ethical investment directives and policies.
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