The Fiscal Stress Arising from State and Local Retiree Health Obligations PDF Download

Author: Byron F. Lutz
Publisher:
ISBN:
Category : Economics
Languages : en
Pages :

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Author: Daniel DiSalvo
Publisher: Oxford University Press
ISBN: 0199990751
Category : Political Science
Languages : en
Pages : 305

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As workers in the private sector struggle with stagnant wages, disappearing benefits, and rising retirement ages, unionized public employees retire in their fifties with over $100,000 a year in pension and healthcare benefits. The unions defend tooth and nail the generous compensation packages and extensive job security measures they've won for their members. However, the costs they impose crowd out important government services on which the poor and the middle class rely. Attempts to rein in the unions, as in Wisconsin and New Jersey, have met with massive resistance. Yet as Daniel DiSalvo argues in Government against Itself, public sector unions threaten the integrity of our very democracy. DiSalvo, a third generation union member, sees the value in private sector unions. But in public sector, unions do not face a genuine adversary at the bargaining table. Moreover, the public sector can't go out of business no matter how much union members manage to squeeze out of it. Union members have no incentive to settle for less, and the costs get passed along to the taxpayer. States and municipalities strain under the weight of their pension obligations, and the chasm between well-compensated public sector employees and their beleaguered private sector counterparts widens. Where private sector unions can provide a necessary counterweight to the power of capital, public employee unionism is basically the government bargaining with itself; it's no wonder they almost always win. The left is largely in thrall to the unions, both ideologically and financially; the right would simply take a hatchet to the state itself, eliminating important and valuable government services. Neither side offers a realistic vision of well-run government that spends tax dollars wisely and serves the public well. Moving beyond stale and unproductive partisan divisions, DiSalvo argues that we can build a better, more responsive government that is accountable to taxpayers. But we cannot do it until we challenge the dominance of public sector unions in government. This carefully reasoned analysis of the power of public sector unions is a vital contribution to the controversial debates about public versus private unions, increasing inequality, and the role of government in American life

Author: Alicia H. Munnell
Publisher: Rowman & Littlefield
ISBN: 0815724136
Category : Business & Economics
Languages : en
Pages : 266

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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: Janice Eberly
Publisher: Brookings Institution Press
ISBN: 0815739478
Category :
Languages : en
Pages : 350

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Brookings Papers on Economic Activity (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues.

Author: Leslie S. Kaplan
Publisher: SAGE Publications
ISBN: 1071803948
Category : Education
Languages : en
Pages : 592

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Foundations of Education makes core topics in education accessible and personally meaningful to students pursuing a career within the education profession. The Third Edition offers readers the breadth of coverage, scholarly depth, and conceptual analysis of contemporary issues that will help them gain a realistic and insightful perspective of the field.

Author: National Research Council
Publisher: National Academies Press
ISBN: 0309261961
Category : Social Science
Languages : en
Pages : 230

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The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.

Author: Sinéad Agnew
Publisher: Bloomsbury Publishing
ISBN: 1509922717
Category : Law
Languages : en
Pages : 408

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State pensions are the largest item in the UK social security budget, costing £96.7 billion in 2017/18. In the same year, 45.6 million people were members of UK occupational pension schemes (out of a total population of 66.4 million) and the total amount saved into workplace schemes in 2018 was £90.4 billion. A consequence of the pensions sector's large size has been that pensions law and social security law have become increasingly specialised areas of practice. Yet despite their social and economic importance and the fascinating legal issues they generate, pensions have not been the subject of sustained academic attention. This book starts to fill this gap by initiating a dialogue between practitioners and scholars working on pensions law and policy, groups who have much to learn from one another.

Author:
Publisher: DIANE Publishing
ISBN: 1437944388
Category :
Languages : en
Pages : 10

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Author: William A. Owings
Publisher: Routledge
ISBN: 1351013785
Category : Education
Languages : en
Pages : 332

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Designed for aspiring school leaders, this text presents the realities of school finance policy and issues, as well as the tools for formulating and managing school budgets. In an era of dwindling fiscal support for public schools, increasing federal mandates, and additional local budget requirements, educational leaders must be able to articulate sound finance theory and application. The authors move beyond coverage found in other texts by providing critical analysis and unique chapters on misconceptions about school finance; fiscal capacity, fiscal effort, adequacy, and efficiency; demographic issues; and spending and student achievement. Examining local, state, and federal education spending, this text gives readers the foundation to understand school finance and knowledgeably educate colleagues, parents, and other stakeholders about its big-picture issues, facts, and trends. The new edition of American Public School Finance will help educational leaders at all stages of their careers become informed advocates for education finance practice and reform. New in this edition: Expanded coverage on school choice Discussion of new standards and law Updated exploration of student demographics and its impact on learning Advanced pedagogical features such as connections to the latest Professional Standards for Educational Leaders (PSEL), Focus Questions, Case Studies, and Chapter Questions/Assignments Complementary electronic resources designed to deepen and extend the topics in each chapter and to provide instructors with lecture slides and other teaching strategies.

Author: Jyoti Choudrie
Publisher: Springer Nature
ISBN: 9811935750
Category : Technology & Engineering
Languages : en
Pages : 792

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This book gathers papers addressing state-of-the-art research in all areas of information and communication technologies and their applications in intelligent computing, cloud storage, data mining and software analysis. It presents the outcomes of the Sixth International Conference on Information and Communication Technology for Intelligent Systems (ICTIS 2022), held in Ahmedabad, India. The book is divided into two volumes. It discusses the fundamentals of various data analysis techniques and algorithms, making it a valuable resource for researchers and practitioners alike.