Héctor Reyes-Erazo, who is pursuing his Master of Public Affairs at the Paul H. O’Neill School of Public and Environmental Affairs, has been honored with the Pi Alpha Alpha Master’s Student Manuscript Award from the Network of Schools of Public Policy, Affairs, and Administration.
Reyes-Erazo was honored for his manuscript, “Intergenerational Fiscal Strain: Unfunded Liabilities in CalPERS and CalSTRS and the Future of California’s Pension Sustainability,” which looked at how current pension funding strategies, amortization methods, and plan design features allocate financial burdens across age groups, thereby worsening intergenerational inequalities. It highlighted that California’s existing pension system is financially unsustainable without reforms, and that maintaining current policies risks weakening public services and lowering taxpayer confidence.
“This award is deeply meaningful to me,” Reyes-Erazo said. “Graduate school takes a lot of effort, often while balancing other responsibilities, so it's rewarding to see that work recognized. For me, the award reflects not only the final paper but also the entire process of designing research, working through the analysis, and learning to communicate it clearly.”
Reyes-Erazo is part of O’Neill’s Online MPA program, allowing him to continue to serve as managing director of San Blas Securities while pursuing his graduate degree.
“My work in public finance is demanding, with frequent meetings, travel, financing pitches, and responses to requests for proposals and requests for quotes,” Reyes-Erazo said. “At home, I have teenagers, and I want to be there for them. What made it work was learning to plan. Once I have my thesis, I gather everything I can to support it, from scholarly articles to news coverage. Technology has made that search much more efficient, freeing up more of my time for the writing itself.”
The award, presented by Pi Alpha Alpha, the global honor society for public affairs and administration, recognizes exceptional research by a master’s student and highlights the important contributions emerging scholars make to the study and practice of public service.
Reyes-Erazo will be honored during the NASPAA Global Conference in Seattle Sept. 30-Oct. 2.