Public Pension Plans
Author : Howard E. Winklevoss
Publisher : Irwin Professional Publishing
Page : 392 pages
File Size : 26,34 MB
Release : 1979
Category : Business & Economics
ISBN :
Author : Howard E. Winklevoss
Publisher : Irwin Professional Publishing
Page : 392 pages
File Size : 26,34 MB
Release : 1979
Category : Business & Economics
ISBN :
Author : Robert Louis Clark
Publisher : University of Pennsylvania Press
Page : 280 pages
File Size : 40,23 MB
Release : 2003-05-12
Category : History
ISBN : 9780812237146
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 : Olivia S. Mitchell
Publisher : University of Pennsylvania Press
Page : 692 pages
File Size : 30,57 MB
Release : 2001
Category : Business & Economics
ISBN : 9780812235784
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 : Jun Peng
Publisher : CRC Press
Page : 286 pages
File Size : 50,3 MB
Release : 2008-08-21
Category : Political Science
ISBN : 0849305519
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 : Natalya Shnitser
Publisher :
Page : 53 pages
File Size : 33,63 MB
Release : 2015
Category :
ISBN :
Using newly collected data on over 100 state-administered pension plans, this Article shows that previously overlooked differences in institutional design are associated with the striking variation in funding discipline across U.S. public pension plans. As state and local governments grapple with unfunded pension obligations, this Article presents a timely examination of public plan governance across two key dimensions: the allocation of control over funding decisions and the transparency with respect to funding liabilities. It shows empirically that greater constraints on legislative control over funding decisions -- typically through the delegation of control to pension-system boards -- have been associated with better funding discipline. Conversely, liability-pooling arrangements that have shrouded individual employer responsibility for underfunding have been associated with worse funding discipline. These findings should inform current reform efforts to address the multi-trillion dollar shortfall in pension funding. To date, such state and local government efforts have focused primarily on scaling back benefits for public employees but have overlooked the role of institutions in explaining why some public employers have consistently contributed to the pension funds while others have failed to set adequate contribution rates or have withheld promised funds.
Author : Sudhir Rajkumar
Publisher : World Bank Publications
Page : 364 pages
File Size : 20,53 MB
Release : 2011
Category : Social Science
ISBN : 0821384708
And key messages -- Key principles of governance and investment management -- Governance of public pension assets -- Governance structures and accountabilities -- Qualification, selection, and operation of governing bodies -- Operational policies and procedures -- Managing fiscal pressures in defined-benefit schemes -- Policy responses to turbulent financial markets -- Investment of public pension assets -- Defining the investment policy framework for public pension funds -- Managing risk for different cohorts in defined-contribution schemes -- An asset-liability approach to strategic asset allocation for pension funds -- In-house investment versus outsourcing to external investment managers -- International investments and managing the resulting currency risk -- Alternative asset classes and new investment themes.
Author : Jonathan Barry Forman
Publisher :
Page : 42 pages
File Size : 18,34 MB
Release : 2010
Category :
ISBN :
Most state and local government employees are covered by traditional final-average-pay pension plans. State and local government employers typically fund those pension plans through a combination of employer and employee contributions, with help from investment returns on already-accumulated assets. Unlike private sector pension plans, however, public pension plans are not subject to strict minimum funding standards like those in the Employee Retirement Income Security Act of 1974 (ERISA). Public pensions also face more flexible accounting standards than private sector pensions. To be sure, many public pensions are nevertheless fairly well funded. Unfortunately, however, the recent meltdown of financial markets, the decline in the stock market, and the recession are putting tremendous pressure on both public pensions and the state and local governments that fund them; and public employers will need to respond.At the outset, this article reviews the operation and funding status of state and local government pension plans. Next, this article discusses the major financial, accounting, and legal issues that relate to the funding of state and local government pension plans. Finally, this article considers how to ensure that public employees will have adequate retirement benefits now and in the future.
Author : United States. General Accounting Office
Publisher :
Page : 76 pages
File Size : 13,7 MB
Release : 1995
Category : Civil service
ISBN :
Author : Von M. Hughes
Publisher : McGraw Hill Professional
Page : 320 pages
File Size : 30,98 MB
Release : 2019-07-26
Category : Business & Economics
ISBN : 1260134776
The first comprehensive guide to mastering the roles and responsibilities of a public pension fiduciary in the U.S. In an ever-changing financial and political landscape, your job as a public pension fiduciary continues to get more difficult. Now, you have the help you need. U.S. Public Pension Handbook is the only one-stop resource that covers the various areas of public pension governance, investment management, infrastructure, accounting, and law. This comprehensive guide presents critical data, information, and insights in topic-specific, easy-to-understand ways—providing the knowledge you need to elevate your expertise and overall contribution to your pension plan or system. U.S. Public Pension Handbook covers: •Today’s domestic and global public pension marketplace•The ins and outs of the defined benefit model, the defined contribution, and hybrid pension designs•Financial concepts central to the actuarial valuation of pension benefits•Public pension investment policies and philosophies•Asset allocations and how they have changed over time•State and local government pension contribution policies•The impact of governance structure and board composition on organizational results•Fiduciary responsibility and the general legal/regulatory framework governing trustees•How changes in trust law may affect public pension trustee fiduciary responsibility and liability•Best practices in pension governance and organizational design Public pension trustees are the unsung heroes of the world of finance, collectively managing over $6 trillion in retirement assets in this country alone. U.S. Public Pension Handbook provides the grounding you need to make sure you perform your all-important with the utmost expertise and professionalism.
Author : United States. General Accounting Office
Publisher :
Page : 152 pages
File Size : 15,52 MB
Release : 1979
Category : Civil service
ISBN :