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2024 Public Pension Compensation Survey
The 2024 Public Pension Compensation Survey will be distributed in early May to more than 600 funds across the United States.
By: Lizzy Lees, Director of Communications, NCPERSIn 2022, NCPERS launched its Public Pension Compensation Survey in response to the industry's growing challenges with recruitment and retention. With more than 325 survey respondents over the past two years, this has proved to be an invaluable resource to help public pensions of all sizes make informed decisions about compensation, benefits, and hiring strategies.
This year, we're thrilled to announce a new partnership with CBIZ, one of the nation's leading providers of professional advisory services, to produce a comprehensive compensation survey with even more data and insights. Historically, both CBIZ and NCPERS have conducted individual surveys. By joining forces, we'll be able to deliver in-depth compensation data on over 80 commonly found positions at public pensions while reducing the number of surveys funds are asked to participate in. As always, the survey data will be made available at no cost to participants.
The 2024 Public Pension Compensation Survey will be distributed in early May to more than 600 funds across the United States. Please keep an eye out for the invitation, which will be sent to the designated survey contact at each organization from research@ncpers.org.
Keep reading to find answers to some of our most frequently asked questions and to learn about additional resources from NCPERS to support the evolving needs of human resources professionals at public pensions.
How will the Public Pension Compensation Survey change this year? The survey will again be distributed via email, so please be sure to mark research@ncpers.org as a safe sender. The primary difference this year will be the format. Rather than completing the online survey or PDF, you'll be asked to enter requested benefits and salary data into a spreadsheet. Detailed instructions will be shared with the survey instrument.
In the past, we've narrowed the focus of our surveys to focus on c-suite or mid- and senior-level positions. This year, we'll be asking for salary data on over 80 commonly found positions. We understand many smaller funds do not have these positions on staff, but participants only need to provide data for positions found at their organization. The spreadsheet format also makes it easier to collaborate internally and save progress.
The survey results will be made available for free to participants, while funds that do not participate can purchase for $2,500.
Who can I reach out to with contact updates for this year's survey? To confirm or update the survey contact on record for your organization, please reach out to compsurveys@cbiz.com.
Who is CBIZ? CBIZ is one of the nation's leading providers of professional advisory services. Their Talent & Compensation Solutions division has deep roots working with public pension funds both through compensation consulting and executive retained search (as EFL Associates). The Compensation Consulting team has a track record of working with public pension funds to benchmark market-competitive compensation and design compensation programs that are aligned with the compensation philosophy and help achieve total rewards goals and objectives. EFL Associates has successfully completed more public pension leadership and investment management searches than any firm in the country.
Why did NCPERS and CBIZ create this partnership? With both NCPERS and CBIZ producing annual public pension compensation surveys, we decided to combine our resources to better serve the public pension community. We'll be able to provide even more thorough data to public pensions while reducing the number of surveys funds are asked to complete.
What other resources does NCPERS have available for HR professionals? Our lineup of Pension Fund Roundtables—groups of pension fund staff who meet virtually on a regular basis to ask questions, share ideas, and discuss timely topics with peers—now includes a dedicated HR Roundtable.
On September 24-26, NCPERS will host its inaugural Public Pension HR Summit to bring HR professionals at pension funds together for peer-to-peer learning, networking, and hands-on training. The findings from the 2024 Public Pension Compensation Survey will be previewed at the event.
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