The Daily Stat: Even Government Workers Will Eventually Lose Their Pensions

Are you having trouble viewing this email? If so, click here to see it in a web browser. HOME   |   BLOGS   |   THE MAGAZINE   |   BOOKS   |   AUTHORS   |   STORE RSS   |   Mobile FEBRUARY 20, 2013 Even Government Workers Will Eventually Lose Their Pensions Corporations realized long ago that they couldn't afford defined-benefit plans, so today only 21% of U.S. private-sector workers can expect old-fashioned pensions. But 84% of government employees still have defined-benefit plans, leaving state and local governments with obligations they can no longer pay. In the coming years, governments will inevitably switch to defined-contribution plans, argue Howard Frank of Florida International University and two coauthors. One estimate puts state and city governments' unfunded pension liabilities at $3.23 trillion. Source: Critical Questions for the Transition to Defined Contribution Pension Systems in the Public Sector Share Today's Stat: FEATURED PRODUCT HBR Guide to Project Management EBook Now Available Meet your goals – on time and on budget. How do you rein in the scope of your project when you've got a group of demanding stakeholders breathing down your neck? And map out a schedule everyone can stick to? And motivate team members who have competing demands on their time and attention? Whether you're managing your first project or just tired of improvising, this guide will give you the tools and confidence you need to define smart goals, meet them, and capture lessons learned so future projects go even more smoothly. ADVERTISEMENT Follow the Stat: BEST SELLERS HBR's 10 Must Reads: The Essentials HBR's 10 Must Reads Boxed Set HBR Guide to Persuasive Presentations HBR Guide to Better Business Writing HBR Guide to Getting the Right Work Done PREVIOUS STATS Big Food Companies Are Training You to Like Less Salt Politically Conservative Shoppers Shun Generics and New Products A Nearby Meth Lab Depresses the Value of Your Home Number of Users Spending Less Time on Facebook Outweighs Number Spending More Time How Long Do You Expect to Live? It Depends on How You're Asked Traffic Eases in U.S., and GPS Plays a Part Criminals Give Up on Robbing Banks and Head for the Internet Flattering the Boss Can Set Him Up for a Fall External Hires Struggle at First but Surpass Their Home-Grown Colleagues Men Feel Powerful After Briefly Interacting with Powerful People Introducing Mobile ManageMentor Powered by the proven content of Harvard ManageMentor™ iTunes >> Android >> UNSUBSCRIBE   |   UPDATE YOUR PROFILE   |   MORE EMAIL NEWSLETTERS   |   PRIVACY POLICY Was this email forwarded to you? If so, sign up to start receiving your own copy. ABOUT THIS MAILING LIST You have received this message because you subscribed to the "The Daily Stat" email newsletter from Harvard Business Review. If at any point you wish to remove yourself from this list, change your email address, or sign up for other email newsletters and alerts, please visit the Harvard Business Review Email Newsletter Preference Center. OPT OUT If you do not wish to receive any email messages from Harvard Business Review, click here. ADVERTISE WITH HBR This enewsletter is read by thousands of decision makers every day. Learn more about connecting your brand with this audience. Copyright © 2013 Harvard Business School Publishing, an affiliate of Harvard Business School. All rights reserved. Harvard Business Publishing | 60 Harvard Way | Boston, MA 02163 Customer Service: 800-545-7685 (+1-617-783-7600 outside the U.S. and Canada)