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# BREC targets pension overhaul
- URL: https://www.redeyebr.com/brec-targets-pension-overhaul/
- Published: 2026-03-25T21:40:40.000Z
- Updated: 2026-03-25T21:40:40.000Z
- Description: The parks system is making big moves, reducing expenses to invest in recreation
- Author: Mukul Verma
- Tags: News, Analysis

One item on BREC’s agenda today could reshape how the park system hires workers, handles benefits and spends money on recreation.

**Why it matters:** The commission wants to hire a retirement financial analyst at its 5 p.m. meeting today to conduct an actuarial review of its defined benefit plan, CPERS, and evaluate whether another option would make more sense.

That is a sign BREC may be preparing for a major shift under its new commission: moving future workers to a 401(k)-style plan, the standard in private business.

**What they’re saying:** “It’s a fiscally responsible thing to do,” BREC Chair Mike Polito tells *RedEye*. “Under the defined benefit plan, we are spending 30 cents to 40 cents on a dollar of salary for retirement. That is outrageous spending.”

**The numbers:** The system’s unaccrued liability shortfall for retirment is north of $100 million and likely much more. Polito argues that if BREC moved to a 401(k)-type plan, it could pay down that obligation within a few years and then put more money into recreation.

**What’s next:** The firm BREC hires will recommend alternatives to CPERS, the city-parish retirement system. Unfunded pension liabilities have also become a major issue for city-parish government.

**Polito’s take:** “To be blunt, we don’t want people who will work 20 years and retire. We want people who want a higher salary now and want to make a difference, and give them an opportunity to place their money in an investment plan they can control.”

That means a 401(k)-style system.

**Meanwhile, case for defined benefit plans:** Supporters say defined benefit plans help public agencies attract and keep experienced workers by rewarding long-term service and offering retirement security. They also protect employees from market swings and bad investment decisions in ways a 401(k) cannot.

**Bottom line:** BREC has been moving quickly and aggressively under interim CEO Janet Simmons, with Polito leading the commission. He says he wants both a report and a new retirement plan in place within six months. Earlier this year, BREC announced it was cutting about 10% of its workforce to boost salaries and invest more in parks. 

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