Local Pension Oversight

Problem

Pensions that are underfunded at the city and county level are often a major driver of local budget shortfalls.

Solution

Senator Mello proposed legislation this year requiring local pension plans that are underfunded or underwater to file a report with the Legislature analyzing the plan's condition and identifying potential solutions. By providing state oversight of local pension plans, the policy encourages local governments to adopt best practices and creates a positive, long-term impact on local budgets.