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.
The Mercatus Center at George Mason University invites you to join Todd Zywicki, Senior Scholar and Senior Fellow with the F.A. Hayek Program at the Mercatus Center and Ted Gayer, Vice President and Director of the Economic Studies program at the Brookings Institution for a Regulation University program that examines the mistakes agencies make in developing “nudge” regulations and the unintended, but foreseeable, consequences of those mistakes.
Please join us for a casual reception where you can take a break from March Madness and meet some of our scholars who can provide the kind of practical information you need to be most effective in your work.
This book provides a comprehensive defense of third-world sweatshops. It explains how these sweatshops provide the best available opportunity to workers and how they play an important role in the process of development that eventually leads to better wages and working conditions.