NCPERS Board Member Will Pryor Testifies Before Congress
July 14, 2008

On July 10, NCPERS Executive Board Member Will Pryor testified before the Joint Economic Committee of the United States Congress. The hearing, entitled “Your Money, Your Future: Public Pension Plans and the Need to Strengthen Retirement Security and Economic Growth,” was called to examine the public and private sector impacts of defined benefit pension plans in the public sector. The panel, which also included Dr. Christian Weller, an associate professor at the University of Massachusetts and Barbara Bovjberg, Director of Education, Workforce and Retirement Security at the Government Accountability Office, discussed the recent changeover from defined benefits to defined contributions plans and the effect on employees’ retirement income and the U.S. economy.

In his testimony, Mr. Pryor pointed out that "traditional public employee pension plans are well funded, diversified investment vehicles that serve their members in all aspects of retirement" and also "provide an important role in the local and national economy as patient, long term investors."

To read Mr. Pryor's testimony, please click here. To read the opening comments of the members of Congress in attendance or to read the testimony of the other members of the panel, please follow this link.