Pension-Related Public Policy Analysis
Runhuan has particular interest on pension and retirement planning, given his past work on mortality and longevity products and mutualized insurance. He served on the University of Illinois Senate Committee on Faculty and Academic Staff Benefits.
Beyond his academic responsibilities at the university, Runhuan also enjoys consulting work for external organizations that address pressing and complex challenges. This project is an example of his consulting work for pension-related policy analysis.
The State of Illinois retirement systems are in the worst financial condition in the nation with more than $130 billion unfunded liabilities. In 2015, the Illinois Supreme Court overthrew pension reforms that aimed to scale back benefits in order to reduce deficit. Lawmakers are limited to policy tools for debt management. The work was commissioned by the State Universities Annuitants Association (SUAA) to design long-term bonding solutions for reducing the retirement systems’ unfunded liabilities and to provide a quantitative basis for a legislative proposal that resulted from this project.
More information on this project can be found in the SUAA mini briefing in February 2018.