10.2190/JTRV-P4R3-D78M-0VD8 JTRVP4R3D78M0VD8 0 CAN PUBLIC PENSION PLANS SURVIVE UNDER PERISA? 20020509 20020509 20020509 20020509 http://baywood.metapress.com/link.asp?target=contribution&id=JTRVP4R3D78M0VD8 3 JOSEPH W. WILSON At present, Congress is proposing the passage of the Public Retirement Income Security Act (PERISA). This act, if passed, will be very similar to a law that governs private pension plans - the Employee Retirement Income Security Act (ERISA). Passage of PERISA will not guarantee the success of public pensions anymore than ERISA has guaranteed the success of private pension. After passage of ERISA, private pensions suffered greatly, with many plans terminating. Since public pensions could suffer a similar or worst fate under the strict provisions of PERISA, a much more realistic approach would be for the federal government to monitor actions taken by state and local governments to improve the funding of their pension program and also provide them with grants-in-aid to assist in this endeavor.