Pensions

CBO analyzes pensions for federal employees, employees of state and local governments, and employees of private firms—with an emphasis on how federal policies toward pensions affect both benefits and the federal budget.

Report
Options for Changing the Retirement System for Federal Civilian Workers
August 29, 2017
CBO analyzes the impact of retirement benefits on the federal budget and on the compensation, recruitment, and retention of its employees. It assesses the short-term and long-term effects of potential changes to those benefits.
Report
Options to Improve the Financial Condition of the Pension Benefit Guaranty Corporation’s Multiemployer Program
August 2, 2016
The pensions of some 10 million people are insured by the Pension Benefit Guaranty Corporation’s multiemployer program. CBO projects future claims on the program and losses to its beneficiaries and analyzes potential policy changes.
Report
The Underfunding of State and Local Pension Plans
May 4, 2011
CBO discusses two approaches to calculating the present value of a plans liabilities.