The Structure of Public Pensions
Author | : Joe Carrasco |
Publisher | : |
Total Pages | : 32 |
Release | : 1993 |
Genre | : Defined benefit pension plans |
ISBN | : |
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Author | : Joe Carrasco |
Publisher | : |
Total Pages | : 32 |
Release | : 1993 |
Genre | : Defined benefit pension plans |
ISBN | : |
Author | : Von M. Hughes |
Publisher | : McGraw Hill Professional |
Total Pages | : 497 |
Release | : 2019-07-26 |
Genre | : 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 designPublic 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 | : Sudhir Rajkumar |
Publisher | : World Bank Publications |
Total Pages | : 364 |
Release | : 2011 |
Genre | : 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 | : Eileen Norcross |
Publisher | : Cambridge University Press |
Total Pages | : 128 |
Release | : 2021-09-02 |
Genre | : Business & Economics |
ISBN | : 1009027026 |
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 | : Harrie Verbon |
Publisher | : Springer Science & Business Media |
Total Pages | : 300 |
Release | : 2012-12-06 |
Genre | : Business & Economics |
ISBN | : 3642456537 |
1. 1 An introduction to the problem This book deals with the development of public pension schemes. The operation of public pension schemes has drawn a great deal of attention recently due to ageing of the population which has become apparent since the 19 70s. This would probably have been less of a problem if these schemes had been financed by a Capital Reserve (abbreviated from now on as CR) system. As is well-known, in a pure CR-system individuals (or generations) save for their own retirement. The (average) rate of return on the premiums paid in this system equals the real rate of interest and, in principle, changes in the rate of population growth do not affect the premium rate or the benefit rate of the system. Most public pension schemes, however, are financed by a Pay-As-You-Go (abbreviated from now on as PAYG) system. In this system current pension payments are financed by current premium payments. In contrast to the CR-system intergenerational transfers occur in this system. If the number of retired people increases relative to the number of workers the premium rate will increase under PAYG. In itself this increase does not have to imply any concern for the premium paying population. What counts is whether the rate of return under a PAYG-system will fall (too far) below the rate of return the CR-system is offering.
Author | : Suzanne Saunders Taylor |
Publisher | : Cornell University Press |
Total Pages | : 204 |
Release | : 1986 |
Genre | : Business & Economics |
ISBN | : 9780875461243 |
Public Employee Retirement Systems is a highly informative contribution to the literature on pensions. It will be valued for its abundant statistical data and for its straightforward treatment of a subject that is often burdened with technicalities.
Author | : Robert Louis Clark |
Publisher | : University of Pennsylvania Press |
Total Pages | : 280 |
Release | : 2003-05-12 |
Genre | : 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 | : Miltiadis Nektarios |
Publisher | : Routledge |
Total Pages | : 184 |
Release | : 2019-09-16 |
Genre | : Political Science |
ISBN | : 100023679X |
Dr. Nektarios examines the principles and criteria under lying public pension programs and assesses the effect of these programs on general economic growth. He begins by discussing the economic rationale of public pensions, then analyzes the influence of economic and demographic variables on the cost of a pension program and the effects of public pension systems on aggregate levels of income and capital stock. Suggesting that Feldstein's social security wealth(SSW) variable overestimates the amount of wealth generated by public pensions, Dr. Nektarios constructs a new SSW variable and uses it to estimate the impact of the u.s. Old Age and Survivors Insurance(OASI) program on capital formation and economic growth in the U.S. economy. The results of his econometric analysis suggest that operation of the OASI program has reduced capital formation by 10to 14 percent.
Author | : David Hess |
Publisher | : World Bank Publications |
Total Pages | : 40 |
Release | : 2003 |
Genre | : Corporate governance |
ISBN | : |
An understanding of corporate governance theory can promote the adoption of appropriate governance tools to limit agency problems in public pension fund management. The absence of a market for corporate control hinders the translation of lessons from the private sector corporate world to public pension governance. The establishment of a fit, and proper governing body for public pension funds, thus may be even more important than the maintenance of a comparable body for private sector corporations. In particular, behavioral controls should be carefully designed.
Author | : Lawrence Thompson |
Publisher | : Routledge |
Total Pages | : 176 |
Release | : 2019-05-23 |
Genre | : Business & Economics |
ISBN | : 0429827695 |
First published in 1998, this volume was developed as part of the Stockholm Initiative and sets out to assess the situation of providing for retirement and pensions. In the wake of intense debate over pay-as-you-go pensions, Lawrence Thomson for the most part leaves social and cultural issues for subsequent analysis, instead examining the economic