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Author: Raymond Nottage Publisher: ISBN: Category : Civil service Languages : en Pages : 44
Book Description
Pamphlet on the financing of public sector pension schemes in the UK - suggests a review to bring out economies in public expenditure. Statistical tables.
Author: Raymond Nottage Publisher: ISBN: Category : Civil service Languages : en Pages : 44
Book Description
Pamphlet on the financing of public sector pension schemes in the UK - suggests a review to bring out economies in public expenditure. Statistical tables.
Author: Eileen Norcross Publisher: Cambridge University Press ISBN: 1009027026 Category : Business & Economics Languages : en Pages : 128
Book Description
Public pensions in the United States face an impending funding crisis in the wake of the financial crisis and the COVID-19 recession. Many cities and states will struggle to meet these growing obligations without major cuts in government services, reneging on pension promises, or raising taxes. This Element examines the development of the pension crisis through the lens of political economy. We analyze the knowledge and incentive problems inherent in the institutional structure, governance, and accounting of public pensions. We conclude by offering several institutional, governance, and reporting reforms to address the pension funding crisis.
Author: Jun Peng Publisher: CRC Press ISBN: 0849305519 Category : Political Science Languages : en Pages : 286
Book Description
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: Gary Anderson Publisher: OUP Oxford ISBN: 0191610259 Category : Business & Economics Languages : en Pages : 366
Book Description
People covered by public pensions are often the subject of 'pension envy:' that is, their benefits might seem more generous and their contributions lower than those offered by the private sector. Yet this book points out that such judgments are often inaccurate, since civil servants hold jobs with few counterparts in private industry, such as firefighters, police, judges, and teachers. Often these are riskier, dirtier, and demand more loyalty and discretion than would be required of a more mobile labor force in the private sector. The debate challenges traditional ideas about how the public employee labor contract is structured and raises questions about how such employees are attracted to the public sector, retained and motivated on the job, and retired, via an entire compensation package of wages and benefits. Authors explore aspects of these schemes, addressing the cost and valuation debate, along with the political economy of how public pension asset pools are perceived and managed, an increasingly important topic in times of global financial turmoil. The discussion also explores ways that public pensions can be strengthened in the US, Japan, Canada, and Germany. The volume captures a vigorous debate currently underway by academics, financial experts, regulators, and plan sponsors, all seeking to define a new future for public retirement systems. It will be of substantial interest to a wide range of readers, since public sector employees and their representatives will naturally find the comparisons and arguments over valuation of keen interest. Public pension administrators and policymakers seeking an explanation of what makes these plans so costly will gain a new understanding of how the arguments stack up. Private sector employers and plan sponsors can learn much from efforts to reform these retirement systems in states and countries around the world. Finally, investors and the taxpaying public more generally may be at risk to cover these long-term promises, so it behoves them to pay close attention to the financing and investment practices of these plans, along with their valuation. This volume represents an invaluable addition to the Pension Research Council / Oxford University Press series as it includes actuarial, economic, and financial perspectives making it useful for academics, retirement plan administrators, and public employees wishing to understand the challenges facing public pensions.
Author: Olivia S. Mitchell Publisher: University of Pennsylvania Press ISBN: 9780812235784 Category : Business & Economics Languages : en Pages : 692
Book Description
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: Sudhir Rajkumar Publisher: World Bank Publications ISBN: 0821384708 Category : Social Science Languages : en Pages : 364
Book Description
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: ISBN: Category : Languages : en Pages : 42
Book Description
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: Raymond Nottage
Author: Raymond Nottage
Author: Eileen Norcross
Author: Jun Peng
Author: 
Author: Gary Anderson
Author: Olivia S. Mitchell
Author: Sudhir Rajkumar
Author: Jonathan Barry Forman
Author: Lex Meijdam
Author: United States. Bureau of the Census