State and local leaders must drive transformation for it to succeed – and that may not be happening

StartFragmentOur research shows that only about a quarter of digital transformation initiatives involve leadership-driven culture change. Even fewer of these initiatives are government-wide as opposed to agency or department specific.EndFragment

StartFragmentCould government infrastructure assets help shore up ailing pension systems?EndFragment

StartFragmentConnecticut, for one, is exploring this possibility. The idea goes like this: In lieu of cash, the state would donate real assets such as office buildings and highways to the pension system. Transferring the assets would immediately lower pension liabilities, particularly since many of these properties have been on the books for years and would see their worth skyrocket as they’re revalued at current market rates. The pension system could boost the value of these assets even further by leveraging public-private partnerships to monetize them, potentially improving long-term infrastructure maintenance in the process. Helping state and local leaders apply this sort of creative thinking to unfunded pension liabilities – a huge and growing challenge – is a prime opportunity for financial firms, advisory firms and others. EndFragment