1457 ET - The expected lifetime value of retirement benefits for the average full career public employee in the U.S. declined roughly 10%, or by more than $140,000, between 2006 and 2024, according to a study by Equable, a bipartisan nonprofit focused on public-sector pensions. "The primary reasons for a decline in the value of benefit have been higher normal retirement age requirements, longer vesting periods and the reduction or elimination of [cost-of-living adjustments]," Equable says. The total value of retirement benefits was relatively steady between $1.4 million and $1.45 million during the 40-year period ending in 2010, after which it declined to roughly $1.3 million, Equable adds. It cites reduced state tax revenue after the global financial crisis, as well as pension budgetary pressures from investment losses. (luis.garcia@wsj.com; @lhvgarcia)

(END) Dow Jones Newswires

December 17, 2025 14:57 ET (19:57 GMT)

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