Okay, so it’s definitely too early in the new year to designate the coolest new web thingy of 2015. But if we’re compiling candidates, the “Build Your Own Public Pension Plan” online simulator just unveiled by the Urban Institute gets to be first on the list.
The simulator, or calculator, or illustrator, or something — the Institute just calls it a “data tool” — lets users experiment with various parameters and see the effects of changing those variables on the plan cost and benefit distribution of a final average salary DB plan or a cash balance plan for state or municipal employees. There are 10 basic variables ranging from years-to-vesting to early out bonus, and five “Other” variables such as discount rate.
You can also see results displayed as an “A” to “F” grade on the Institute’s pension plan report card.
