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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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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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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Examining the populations best served by defined benefit and defined contribution plans
The claim that a defined benefit plan is more efficient than a defined contribution plan, purely on a basis of cost, overlooks a larger and more meaningful perspective regarding benefit distribution.
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The case for in-plan lifetime income solutions for DC plans is clear, so why the reluctance to implement?
Moving the needle toward an expansion of retirement income products in defined contribution plans would be a meaningful step in better addressing retirement financial security.
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Amidst great investment returns, public pension systems should reassess plan designs
The defined benefit plan long favored by public retirement systems falls short of meeting the retirement security needs for too many state and local government employees, particularly younger, newer employees.