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NASRA Research on Public
  Retirement Systems




   How Census data informs NASRA analyses

                Alex Brown
          NASRA Research Associate
              January 25, 2012
National Association of State
Retirement Administrators
• NASRA members are directors of the
  nation’s largest statewide public
  retirement systems
• NASRA activities include government
  relations, and producing and
  contributing to research materials.
What Can We Learn?
 NASRA’s research focus is to present objective
 information based on industry-wide data. In the past
 Census data has been helpful in answering questions
 such as:
     • How much do state and local governments
       spend on pension benefits?
     • How are public pension funds comprised?
     • What are the economic effects of public pension
       benefits?
Data
The Census serves as the sole provider of
comprehensive data on the state and local government
pension community.
   • State & Local Public-Employee Retirement
     Systems
      • Aggregate assets, contributions, benefit payments, and membership

   • Finances of Selected State and Local
     Government Employee Retirement Systems
      • Aggregate assets, contributions, benefit payments, and membership

   • State and Local Government Finances
      • Aggregate totals for state and local spending
Spending on Pensions
                  NASRA Issue Brief: State and
                 Local Government Spending on
                  Public Employee Retirement
                           Systems




   Source: 2008 State & Local Public-Employee Retirement Systems Data;
                2008 State and Local Government Finances
Sources of Revenue
                       NASRA Issue Brief: Public
                       Pension Plan Investment
                               Returns




   Source: State & Local Public-Employee Retirement Systems Data 1982-2009
Economic Effects
   NASRA/NCTR Issue Brief: Market Declines and Public Pensions




  Source: State & Local Public Employee Retirement Systems, 1995-2006; State and
                             Local Government Finances
Economic Effects
           NASRA, NCPERS, and NCTR: Submission to the
             President’s Advisory Panel on Federal Tax
                       Reform, June 10, 2005


  “State and local retirement systems distribute
  over $120 billion annually in pension and other
  benefits, an amount that exceeds the entire
  economic output of 22 states and the District of
  Columbia. These distributions are a key source of
  economic stimulus and activity that reaches
  literally every city and town in the nation”

       Source: State & Local Public Employee Retirement Systems
Wikipension
• A resource for objective
  information on public retirement
  systems
• Target audience public pension
  stakeholders, retirement system
  staff and trustees, members of
  the media, policymakers and their
  staff
• State profiles built using Census
  data provide accurate and
  accessible information under
  important categories.
Public Fund Survey
        • Produced and maintained annually
          by NASRA and NCTR
        • Representative of most state and
          local public employee retirement
          systems (about 85%)
        • Census data serves as a helpful
          benchmark, particularly on
          aggregate data
Looking Forward
• Relevance
   • As standards and requirements evolve, so do the
      types of data collected by researchers

•   Frequency
    • Regular, timely data is critical for NASRA initiatives
       that are produced and distributed at regular intervals

•   Additional dimensions
    • Defined contribution plans
    • Hybrid plans
    • Supplemental plans
    • Internal vs. external management

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NASRA Presentation to APDU

  • 1. NASRA Research on Public Retirement Systems How Census data informs NASRA analyses Alex Brown NASRA Research Associate January 25, 2012
  • 2. National Association of State Retirement Administrators • NASRA members are directors of the nation’s largest statewide public retirement systems • NASRA activities include government relations, and producing and contributing to research materials.
  • 3. What Can We Learn? NASRA’s research focus is to present objective information based on industry-wide data. In the past Census data has been helpful in answering questions such as: • How much do state and local governments spend on pension benefits? • How are public pension funds comprised? • What are the economic effects of public pension benefits?
  • 4. Data The Census serves as the sole provider of comprehensive data on the state and local government pension community. • State & Local Public-Employee Retirement Systems • Aggregate assets, contributions, benefit payments, and membership • Finances of Selected State and Local Government Employee Retirement Systems • Aggregate assets, contributions, benefit payments, and membership • State and Local Government Finances • Aggregate totals for state and local spending
  • 5. Spending on Pensions NASRA Issue Brief: State and Local Government Spending on Public Employee Retirement Systems Source: 2008 State & Local Public-Employee Retirement Systems Data; 2008 State and Local Government Finances
  • 6. Sources of Revenue NASRA Issue Brief: Public Pension Plan Investment Returns Source: State & Local Public-Employee Retirement Systems Data 1982-2009
  • 7. Economic Effects NASRA/NCTR Issue Brief: Market Declines and Public Pensions Source: State & Local Public Employee Retirement Systems, 1995-2006; State and Local Government Finances
  • 8. Economic Effects NASRA, NCPERS, and NCTR: Submission to the President’s Advisory Panel on Federal Tax Reform, June 10, 2005 “State and local retirement systems distribute over $120 billion annually in pension and other benefits, an amount that exceeds the entire economic output of 22 states and the District of Columbia. These distributions are a key source of economic stimulus and activity that reaches literally every city and town in the nation” Source: State & Local Public Employee Retirement Systems
  • 9. Wikipension • A resource for objective information on public retirement systems • Target audience public pension stakeholders, retirement system staff and trustees, members of the media, policymakers and their staff • State profiles built using Census data provide accurate and accessible information under important categories.
  • 10. Public Fund Survey • Produced and maintained annually by NASRA and NCTR • Representative of most state and local public employee retirement systems (about 85%) • Census data serves as a helpful benchmark, particularly on aggregate data
  • 11. Looking Forward • Relevance • As standards and requirements evolve, so do the types of data collected by researchers • Frequency • Regular, timely data is critical for NASRA initiatives that are produced and distributed at regular intervals • Additional dimensions • Defined contribution plans • Hybrid plans • Supplemental plans • Internal vs. external management