A Pension Act in 1776 Paved the Way to Ensure Financial Security for Government Workers Today
In 1776, the founding fathers of the United States declared independence from Great Britain and made a bold statement: “We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights.” This declaration was a major milestone in the history of our nation and has been seen as a major contributor to our current retirement system. Public employee pension system leaders can thank the founding of the Continental Congress and the Declaration of Independence for the right to receive defined benefits and secure retirement plans - enabling local government workers to retire with peace of mind. In this blog post, we will explore how this important document has helped shape today’s public employee retirement benefits.