The 2012 Legislature directed the Institute to evaluate three topics related to public pension policies: benefit levels, portability, and excess compensation. The Institute consulted with the Office of the State Actuary, Department of Retirement Systems, and local government plan sponsors in conducting this study. We surveyed public pension plans in the 50 states to compare benefit levels. We also analyzed state data on recent retirees in Washington State to examine overtime and excess compensation. Finally, we contracted with a professional actuary who has expertise in public employee retirement systems to review our methods and findings. This report summarizes our findings.