Pension Lab: NextGen Competition
NCPERS has partnered with the Center for Municipal Finance at the University of Chicago Harris School of Public Policy to engage the next generation of leaders on the future of public retirement systems.
NCPERS-Harris School Pension Lab: NextGen Competition challenges students to develop innovative, policy-driven solutions to improve the quality and sustainability of public pensions.
After gaining an understanding of the complexities of funding public pensions in Chicago and Illinois, students work with public pension leaders to further refine their ideas with an eye to the practical, fiscal, and political feasibility of their proposals.
These ideas are put to the test in a live competition during NCPERS Public Pension Funding Forum, where an expert panel of judges and the audience cast their votes. The winning team receives a research internship with NCPERS (and accompanying stipend) where they will have the opportunity to publish their work in a publication widely read by the public pension community.
2026 Pension Lab: NextGen Competition Recap
The Pension Lab: NextGen Competition returned for this year's Public Pension Funding Forum, where teams of graduate students from the Harris School of Public Policy at the University of Chicago presented creative solutions to tackle the funding challenges facing public pensions in Chicago and Illinois. Each brought unique perspectives, researching innovative solutions tied to investment performance, risk management, contribution policies, and funding stability.
Congratulations to this year's winner, Jason (Zezheng) Lin, for taking first place with Breaking the Procyclical Trap! His proposal examined how a three-layer reform framework, centered on a Countercyclical Pension Stabilization Reserve and grounded in a Monte Carlo simulation of Illinois SERS outcomes, can create more resilient pension funding across economic cycles.
Thank you to all the students, mentors, and judges for their work towards making public pensions more fiscally sustainable! We're excited to see how these emerging leaders continue to contribute fresh ideas and perspectives to the public pension field and are looking forward to next year's competition.
2025 Pension Lab: NextGen Competition Recap
We are proud to congratulate the inaugural winners, Team Vacant Lots Revenue. Their innovative ideas and research brought fresh insight and meaningful perspectives to the ongoing conversation about the future of public pensions. We look forward to seeing how their work will continue to shape and inspire new approaches in the field. Find insights from their winning proposal here.
Leading up to the inaugural competition in August 2025, students participated in a Policy Lab at the University of Chicago Harris School to develop their proposals. NCPERS then paired student teams with public pension leaders in the Chicago area to serve as mentors and to help further refine their ideas with an eye to the practical, fiscal, and political feasibility of their proposals.
During the live competition, each student team had 20 minutes to present their ideas. The presentations and accompanying briefs were then evaluated by judges and attendees based on the following criteria:
- Financial Viability and Impact (30%) – Does the proposal demonstrate a clear understanding of pension funding mechanics and provide realistic solutions for improving funding status and generating sustainable and progressive revenue streams?
- Implementation Feasibility (30%) – Is the proposal politically and administratively realistic given local jurisdiction's governance structure, existing legal constraints, and stakeholder dynamics? Does it account for regulatory requirements, union considerations, and the practical challenges of execution.
- Risk Management and Sustainability (30%) – Does the proposal appropriately balance risk and return while considering long-term sustainability? How well does it address potential unintended consequences, market volatility, or changing economic conditions that could affect pension obligations
- Professional Quality and Presentation (10%) – Is the writing clear, concise, and professional? Are any graphics clearly labeled and well-designed? Did the team deliver its content with energy and clarity
Questions? Please contact research@ncpers.org.