Rod Crane
Senior Fellow, Reason Foundation
Rod Crane is an authority on public sector retirement benefit programs with particular expertise in the design, administration and governance of defined benefit, defined contribution, deferred compensation and retiree health plans sponsored by states, local governments, public higher education, local governments and special districts.
During his 32 years of experience, Crane has worked as legal counsel to a state legislative retirement oversight committee, a retirement benefits and fiduciary consultant for two national retirement consulting and actuarial firms and directed the public sector market strategy for one of the largest defined contribution financial services firms in this country. Crane has been an active participant in the public retirement industry through his participation and leadership in national public sector retirement associations. He has written extensively on the proper design and funding of public pension, defined contribution and retiree health benefit programs.
Crane also has expertise with regard to federal tax and workplace laws as they apply to public and private sector 401(a), 401(k), 457 and 403(b) arrangements, prefunded retiree105(h)health reimbursement accounts (HRA) as well as fiduciary and governance requirements that apply to plan sponsors and boards of trustees.
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Ways the SECURE Act 2.0 can help people save for retirement
The law provides additional flexibility for tax optimization of retirement distributions and reduces tax code rules that perversely inhibit lifetime annuity solutions.
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A better public sector retirement plan for the modern workforce
The new PRO Plan meets the needs of public workers, helps government employers recruit and retain workers, and stops public pension debt from growing.
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Designing an optimized retirement plan for today’s state and local government employees
This study presents a new retirement plan design, the Personal Retirement Optimization Plan, or PRO Plan, which is built on a defined-contribution foundation but designed to operate more like a traditional pension.
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Webinar: The Personal Retirement Optimization Plan
A plan for incorporating the benefits of 401(k)-style solutions into modern-day public sector retirement plans that give their workers flexibility and predictability of their benefits.
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Frequently asked questions about the Personal Retirement Optimization Plan
The Personal Retirement Optimization Plan (or PRO Plan) is a new framework for public worker retirement benefits that delivers post-employment security in a cost-effective way.
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Who should be responsible for a public pension plan’s risk management policy?
Pension plans need an independent authority that protects taxpayers by managing risk policy.
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How Alaska’s defined contribution plan and supplemental annuity plan compare to the gold standard
Alaska's retirement plans meet best practices in some areas but need some improvement in other areas.
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Policymakers should focus on improving participation rates in retirement plans
The Bureau of Labor Statistics reported in 2021 that 68% of private industry workers had access to retirement benefits through their employer, with 51% choosing to participate.
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Best practices for cost-of-living adjustment designs in public pension systems
Striking the proper balance between cost, risk, and benefits in a way that works for both employees and employers.
