Book Description
The Southern Legislative Conference (SLC) conducted a survey of the administrative entities managing the pensions of public health employees in all 50 states to determine their rules and regulations regarding pension portability for this category of public employee. Based on the responses to the survey questionnaire and additional research, the SLC researchers were able to ascertain: whether the pension plan in a state permits an employee to purchase service credits for a prior period of qualified employment in another jurisdiction, both in another state and within the state; whether the pension plan is a defined benefit (DB) or defined compensation (DC) plan; the minimum amount of time required for an employee's pension benefits to be fully vested; the existence of any recent legislative activity related to the portability of retirement plans of public health officials in each state; whether any federal tax laws impact on the pension portability of these public health employees; and the existence of pension portability in other public employment sector categories.This paper discusses these results and notes that this information may be important for policy-makers at all levels of government as they initiate concrete steps to prepare for the “grayingâ€ŗ of America and the expected huge increase in retirees, plunging public pension funds, and shortages of health care workers. Enhancing pension portability may help states seeking to attract and retain an adequate supply of well-trained health care workers.
