New Model Highlights Link Between Public Pension Plan Demographics and Fund Volatility
The Rockefeller Institute has introduced a Public Pension Stochastic Simulation Model that examines the year-by-year dynamics of pension fund finances. The model forecasts the long-term outcomes of specific plans with real-world characteristics under different investment return scenarios and funding policies. The report introducing the model is the third in a series focusing on the Rockefeller Institute’s Pension Simulation Project.
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Boyd Gives Keynote Address at Standard & Poor’s Global Ratings Annual Forum
Director of Fiscal Policy Don Boyd gave the keynote address at the Standard & Poor’s Global Ratings annual forum on state and local government credit. Boyd spoke about public pension funds’ movement into riskier assets and the risks to sponsoring governments when the funds experience investment-return volatility. The presentation, co-authored by Yimeng Yin, covers other risks and consequences.
State and Local Taxes Decline; Proposed Federal Tax Reform Fuels Uncertainty
State and local government revenue from major taxes tracked by the U.S. Census Bureau declined by 0.5 percent in the second quarter of 2016 compared to a year earlier. This represents a substantial slowing from the 5.0 percent average growth for the four previous quarters, according to the just-released State Revenue Report. The report also outlines potential behavioral responses by taxpayers in anticipation of post-election federal tax reform, and notes how these responses could affect state tax revenues.
University of California Retirement Plan Analyzed as Part of Rockefeller Institute Pension Simulation Project
The Rockefeller Institute has analyzed the potential consequences of investment return volatility of the University of California Retirement Plan (UCRP) as part of its new Pension Simulation Project. The model calculates the plan's annual cash flows and funded ratio under different investment return scenarios, funding policies, and plan characteristics. The simulation project was created to examine the potential consequences of investment-return risk for public pension plans, governments, and stakeholders in government.
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Rhode Island ACA Report Points to Government Commitment Since Program’s Earliest Days
David A. Rochefort of Northeastern University and Marie Ganim of the Rhode Island State Senate and Rhode Island College have released an analysis of Rhode Island’s implementation of the Affordable Care Act (ACA) underscoring the significance of strong, early support by top state political leaders in creating a vigorous program of health reform closely linked with policy changes at the federal level. The Rhode Island research study was the 27th state report produced by the 40-state, 70-researcher ACA Implementation Field Network.
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ACA Implementation Research Network
Twenty-Seven Baseline Reports In, with More to Come
The Rockefeller Institute of SUNY, the Brookings Institution, and the Fels Institute of the University of Pennsylvania are coordinating a network of indigenous field researchers in 40 states to analyze the implementation of the Affordable Care Act, which aims to provide objective reports that can assist the public, governments, service providers, and experts in the process of reforming American health care. To date, 27 baseline state reports have been published, along with two regional overview reports on state experiences in the West and the South. To access the reports, go to the link below and click on the map for the states that have issued reports.
Boyd Reacts to Actuarial Standard Board’s Proposed Policy on Pension Risk
Rockefeller Institute Director of Fiscal Policy Don Boyd has released comments on the Actuarial Standard Board’s (ASB) Proposed Actuarial Standard of Practice: “Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions.” The ASB establishes and improves standards of actuarial practice.
Gambling Research Sparks National/International Attention
Interest in the Rockefeller Institute’s recent report on the impact of gambling on state fiscal health has peaked in recent months as state and national media organizations have cited the Institute’s findings. The report’s author, Dr. Lucy Dadayan, has also been a featured presenter at national association conferences both in the United States and in Canada. Her presentations drew from the April 2016 Blinken Report, entitled State Revenues from Gambling: Short-Term Relief, Long-Term Disappointment.
Implementation of the Affordable Care Act (ACA), a Work in Progress
Richard P. Nathan, senior fellow at the Rockefeller Institute, summarizes several findings from the 40-state ACA Implementation Research Network and notes surprises and challenges revealed during the ACA’s implementation to date. The network is jointly operated by the Rockefeller Institute and the Brookings Institution.
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New York State ACA Experience Highlighted in Report/Forum
While many states have resisted or struggled with the implementation of the Affordable Care Act (ACA), its rollout in New York has been relatively smooth. This and other findings were presented at a forum at the Rockefeller Institute on June 6th by Sarah Liebschutz.
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More Research Needed to Strengthen HIV Care Delivery and Workforce, Study Says
Researchers from leading national health policy and clinical institutions have recommended that rigorous research on HIV care delivery models, including the HIV workforce, in diverse communities across the country is urgently needed. The new article, "Clinical
Outcomes of HIV Care Delivery Models in the US: A Systematic Review," published in AIDS Care, was led by April Kimmel of Virginia Commonwealth University School of Medicine and featured the collaboration of Erika Martin, director of health policy studies for the Rockefeller Institute.
ACA Report Reflects Transformative Period for Kentucky Health Policy
Health care insurance coverage remains a contested policy issue in Kentucky years after the implementation of the Affordable Care Act. In a just released special report, published in partnership with the Rockefeller Institute of Government of the State University of New York and the Brookings Institution, the authors from the University of Kentucky found that public policy decisions unfolding in Kentucky will have major economic and political implications for the state and could serve as harbingers of change in other states.
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Case Study of NYS’s Response to Extreme Weather Events
This research report presents an innovative case of state-level post-disaster resiliency planning and management in New York. The report also analyzes its performance compared to previous post-disaster federal efforts. It shows that the state’s “Managed-Participatory” approach facilitated production of strong community reconstruction plans by encouraging rigorous local participation and strengthening links between communities and policymakers.
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Study to Enhance Applied Learning Opportunities for Students
SUNY and the Rockefeller Institute have released a research report and a supplement on applied learning at colleges and universities world-wide. According to SUNY Chancellor Nancy L. Zimpher, "With this research in hand, SUNY will continue expanding internships, cooperative education, clinical placements, service learning and other valuable work-based learning experiences for students and partnering with our colleagues across New York to ensure that the state's workforce needs can be met by SUNY graduates."