Maybe a regulatory reform bill that wanted to ensure that the best possible analysis was supplied to the IRRC would address the incentives of those specialists. Instead of rewarding them for being part of an agency that created more regulations, reward them for producing high quality analyses.
Based on observations from my time serving on streamlining commissions in Louisiana and Virginia, I would advise that this challenge would be best met by appointing an advisory board. This advisory board would be heavily dominated by private sector experts whose skills relate to the subjects under consideration. This advisory board should also have representation from both chambers of the legislature, but that representation should be a minority of the whole advisory board.
As the Montana legislature considers how to improve the funding status of its defined benefit plans, it is important that any changes to the pension system be based on an accurate accounting of the value of the benefits due to employees.
In my testimony I would like to begin by discussing the reasons why Pennsylvania’s pension systems reached this point and the importance of accurate valuation in both determining a funding policy for the current DB plan and deciding how to structure a reliable retirement system for Pennsylvania’s public sector workers.
As the New Hampshire legislature considers a proposal to switch the state’s pension system from a defined benefit plan to a defined contribution plan, assessing the costs of doing so must begin with an accurate accounting of the liabilities present in the current system.
In his testimony before the Pennsylvania Senate Inter-Governmental Operations Committee, Daniel Rothschild discussed how to best implement a government streamlining commission and opportunities to reduce spending in Pennsylvania.
Across the country, state governments have been considering whether to expand Medicaid coverage as envisioned by the Affordable Care Act (ACA or "Obamacare"). To help break down what's at stake, a new video—based on a recent study by Mercatus Center scholar Charles Blahous—reviews the key factors states must consider in this complex decision.
Please join us for a special event and discussion with The Honorable Maurice McTigue. As a former New Zealand cabinet minister and now a Mercatus Center vice president, Maurice speaks from experience about solutions and reforms that can be made to address the serious economic issues our country faces.
Please join us for one of our special events and discussions with The Honorable Maurice McTigue. As a former New Zealand cabinet minister and now a Mercatus Center vice president, Maurice speaks from experience about solutions and reforms that can be made to address the serious economic issues our country faces.