State And Local Pension Systems
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Author | : Jun Peng |
Publisher | : CRC Press |
Total Pages | : 286 |
Release | : 2008-08-21 |
Genre | : Political Science |
ISBN | : 0849305519 |
Download State and Local Pension Fund Management Book in PDF, Epub and Kindle
Intense media coverage of the public pension funding crisis continues to fuel heightened awareness in and debate over public pension benefits. With over $3 trillion in assets currently under management, the ramifications of poor oversight are severe. It is important that practitioners, researchers, and taxpayers be well-advised regarding any concer
Author | : Richard J. Reeder |
Publisher | : |
Total Pages | : 108 |
Release | : 1980 |
Genre | : Civil service |
ISBN | : |
Download State and Local Pension Systems Book in PDF, Epub and Kindle
Author | : Robert Louis Clark |
Publisher | : University of Pennsylvania Press |
Total Pages | : 280 |
Release | : 2003-05-12 |
Genre | : History |
ISBN | : 9780812237146 |
Download A History of Public Sector Pensions in the United States Book in PDF, Epub and Kindle
From the Wharton School, offering a comprehensive assessment of the political and financial dimensions of public-sector pensions from the colonial period until the emergence of modern retirement plans in the twentieth century.
Author | : Frank Russek |
Publisher | : DIANE Publishing |
Total Pages | : 9 |
Release | : 2011-08 |
Genre | : Law |
ISBN | : 1437985467 |
Download Underfunding of State and Local Pension Plans Book in PDF, Epub and Kindle
The recent financial crisis and economic recession have left many states and localities with extraordinary budgetary difficulties for the next few years, but structural shortfalls in their pension plans pose a problem that is likely to endure for much longer. This report discusses alternative approaches to assessing the size of those shortfalls and their implications for funding decisions. Figure and table. This is a print on demand edition of an important, hard-to-find report.
Author | : Olivia S. Mitchell |
Publisher | : University of Pennsylvania Press |
Total Pages | : 692 |
Release | : 2001 |
Genre | : Business & Economics |
ISBN | : 9780812235784 |
Download Pensions in the Public Sector Book in PDF, Epub and Kindle
From the Pension Research Council of the Wharton School, this book explores the diversity of governmental pension plans and investigates how these financial institutions must change in years to come.
Author | : United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight |
Publisher | : |
Total Pages | : 128 |
Release | : 2011 |
Genre | : Business & Economics |
ISBN | : |
Download Transparency and Funding of State and Local Pension Plans Book in PDF, Epub and Kindle
Author | : Alicia H. Munnell |
Publisher | : Rowman & Littlefield |
Total Pages | : 266 |
Release | : 2012-08-27 |
Genre | : Business & Economics |
ISBN | : 0815724136 |
Download State and Local Pensions Book in PDF, Epub and Kindle
In the wake of the financial crisis and Great Recession, the health of state and local pension plans has emerged as a front burner policy issue. Elected officials, academic experts, and the media alike have pointed to funding shortfalls with alarm, expressing concern that pension promises are unsustainable or will squeeze out other pressing government priorities. A few local governments have even filed for bankruptcy, with pensions cited as a major cause. Alicia H. Munnell draws on both her practical experience and her research to provide a broad perspective on the challenge of state and local pensions. She shows that the story is big and complicated and cannot be viewed through a narrow prism such as accounting methods or the role of unions. By examining the diversity of the public plan universe, Munnell debunks the notion that all plans are in trouble. In fact, she finds that while a few plans are basket cases, many are functioning reasonably well. Munnell's analysis concludes that the plans in serious trouble need a major overhaul. But even the relatively healthy plans face three challenges ahead: an excessive concentration of plan assets in equities; the risk that steep benefit cuts for new hires will harm workforce quality; and the constraints plans face in adjusting future benefits for current employees. Here, Munnell proposes solutions that preserve the main strengths of state and local pensions while promoting needed reforms.
Author | : Olivia S. Mitchell |
Publisher | : |
Total Pages | : 40 |
Release | : 1995 |
Genre | : Local officials and employees |
ISBN | : |
Download State and Local Pension Plans Book in PDF, Epub and Kindle
This paper examines the role and function of pension plans covering state and local government employees in the United States. Covering about 16 million employees (including teachers, fire fighters, police, members of the judiciary, and many other state and local employees), these plans manage a substantial stock of financial assets -- close to $1 trillion -- and receive annual contributions from employees and government revenues totaling about $56 billion. Using data gathered from a variety of different sources, some of which have only recently become available, we describe the benefits, financing, and management of these plans, and identify some of the prominent challenges facing these pension plans in the next decade.
Author | : Ping Lung Hsin |
Publisher | : |
Total Pages | : 322 |
Release | : 1994 |
Genre | : Local officials and employees |
ISBN | : |
Download Funding and Administrative Efficiency of State and Local Government Pension Plans Book in PDF, Epub and Kindle
Author | : U S Government Accountability Office (G |
Publisher | : BiblioGov |
Total Pages | : 26 |
Release | : 2013-06 |
Genre | : |
ISBN | : 9781289039752 |
Download Public Pensions Book in PDF, Epub and Kindle
Pursuant to a congressional request, GAO reviewed the status of public pension plan funding, focusing on the basic pension plans of state and local governments. GAO found that: (1) states and localities with underfunded pension plans run the risk of reducing future pension benefits to taxpayers or raising revenues; (2) unfunded liabilities for all state and local pension plans totalled $200 billion in 1992; (3) contributions to pension funds in 1992 fell short of the actuarially required amounts by 60 percent; (4) 75 percent of state and local pension plans involved in a Public Pension Coordinating Council (PPCC) survey were underfunded; (5) more than half of the pension plan sponsors surveyed continued to make payments to pay off their unfunded liabilities; (6) between 1990 and 1992, 20 percent of the plans were both underfunded and not receiving required sponsor contributions; and (7) of 117 plans with complete data in 1990 and 1992, 90 were underfunded.