I’ll summarize pensions in three short phrases: needed (in some form) to help prepare for retirement, difficult to understand and maybe even more difficult to write about.
I give it a shot in the upcoming BizVoice (available online on Feb. 28 and in the mail that same day) with the help of some really smart state and national experts. A couple of takeaways:
- Indiana’s public pension system is in better shape than most, thanks to some long-term innovative and common sense practices
- Traditional defined benefit plans in the private sector have largely given way to defined contribution programs (think 401{k})
- There remain big (really big) concerns over whether Hoosiers and Americans are saving enough
Check out the numbers and the analysis in the March-April issue of BizVoice.