The transitional impact of state pension reform

Jordan Pandolfo and Kurt Winkelmann

Journal of Economic Dynamics and Control, 2024, vol. 160, issue C

Abstract: We use an overlapping generations framework to evaluate the transitional impact of state pension reform on public and private workers, extending our analysis to all fifty U.S. states. We consider reducing cost-of-living-adjustments (COLAs) for retirees and reducing benefit accruals for current workers. The magnitude of reform in each state is calibrated to achieve a common policy goal: the elimination of unfunded pension liabilities within twenty years.

Keywords: Pension reform; State public pensions; Lifecycle; Overlapping generations; Retirement (search for similar items in EconPapers)
JEL-codes: D60 E62 H70 J11 (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:dyncon:v:160:y:2024:i:c:s0165188923002130

DOI: 10.1016/j.jedc.2023.104807

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