NASRA is a non-profit association whose members are the directors of the nation's state, territorial, and largest statewide public retirement systems. NASRA members oversee retirement systems that hold more than two-thirds of the more than $2 trillion in state and local government assets and that provide pension and other benefits to most state and local government employees.
Guiding Principles for Retirement Security and Plan Sustainability
The National Association of State Retirement Administrators supports the following guiding principles to retirement security and public plan sustainability:
- Participation of all relevant stakeholders, including government employers, their plans, their employees, plan beneficiaries and retirees, and other taxpayers in discussions and processes pertaining to the design and financing arrangements of public retirement plans
- Policy-driven decision making based on objective and pertinent information that fairly reflects the long-term time horizon and economic effects of public plan financing, benefit adequacy and benefit distributions
- Tailored solutions, achieved by affected stakeholders working through the state and local legislative and regulatory processes
- Retention of core, indispensable elements of public plan design, namely mandatory participation, shared financing, benefit adequacy, pooled investment and longevity risks, and lifetime benefit payouts
- Removal of federal policy barriers to the preservation of these central retirement plan design features in the public sector and adoption of federal policies that encourage their inclusion in the private sector.
For the full resolution on “Guiding Principles for Retirement Security and Plan Sustainability” click here.
A listing of all NASRA standing resolutions can be found here.