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Governance Of Public Pension Plans
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Book Synopsis Governance of Public Pension Funds by : David Hess
Download or read book Governance of Public Pension Funds written by David Hess and published by World Bank Publications. This book was released on 2003 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Governance and Investment of Public Pension Assets by : Sudhir Rajkumar
Download or read book Governance and Investment of Public Pension Assets written by Sudhir Rajkumar and published by World Bank Publications. This book was released on 2011 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis On the Governance of Public Pension Fund Management by : Gregorio Impavido
Download or read book On the Governance of Public Pension Fund Management written by Gregorio Impavido and published by World Bank Publications. This book was released on 2002 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author surveys the empirical literature on the relationship between governance of public pension fund management and investment performance. He makes a preliminary attempt to identify good governance practices and distill governance guidelines aimed at reducing the political risk that is associated with central, public pension fund management. The author highlights the need for further work to support the development of a satisfactory set of governance guidelines.
Book Synopsis U.S. Public Pension Handbook: A Comprehensive Guide for Trustees and Investment Staff by : Von M. Hughes
Download or read book U.S. Public Pension Handbook: A Comprehensive Guide for Trustees and Investment Staff written by Von M. Hughes and published by McGraw Hill Professional. This book was released on 2019-07-26 with total page 320 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Pension Fund Governance by : John R. Evans
Download or read book Pension Fund Governance written by John R. Evans and published by Edward Elgar Publishing. This book was released on 2008 with total page 296 pages. Available in PDF, EPUB and Kindle. Book excerpt: The academic literature on pension governance is sparse and this book will fill some important gaps by bringing together original contributions from around the world on subjects related to the area. The book initially lays out the main frameworks for pension fund governance and then goes on to examine global governance practice and experience and country studies on pension funds in the United States and Australia. The final section of this in-depth study discusses the role of government guarantees. The editors and contributors to this book have struck a balance between the various dimensions of the governance problem. Whilst ensuring that the theoretical frameworks are represented, at the same time, they have also recognized that it is vital to report on empirical work. Private pensions are examined closely, while also acknowledging that public pension funds are extremely important actors. Pension Fund Governance will appeal to academics and researchers of financial economics and financial management, as well as those in the fields of public finance and public sector economics. Furthermore the book will also find an audience among those in commercial and policy roles which involve pensions, including pension actuaries.
Book Synopsis Governance of Public Pension Funds by : Gregorio Impavido
Download or read book Governance of Public Pension Funds written by Gregorio Impavido and published by . This book was released on 2016 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.This paper - a product of the Financial Sector Operations and Policy Department - is part of a larger effort in the department to study the effects of contractual savings development on financial markets.
Book Synopsis Public Pensioin Governance and Performance by :
Download or read book Public Pensioin Governance and Performance written by and published by World Bank Publications. This book was released on with total page 79 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Pensions in the Public Sector by : Olivia S. Mitchell
Download or read book Pensions in the Public Sector written by Olivia S. Mitchell and published by University of Pennsylvania Press. This book was released on 2001 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Public Pension Governance and Performance by : Olivia S. Mitchell
Download or read book Public Pension Governance and Performance written by Olivia S. Mitchell and published by World Bank Publications. This book was released on 1994 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Governance of Public Pension Plans by : Gregorio Impavido
Download or read book Governance of Public Pension Plans written by Gregorio Impavido and published by . This book was released on 2009 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper surveys the corporate governance mechanisms that the economic literature identifies as useful in limiting the conflict-of-interest problem stemming from the separation of ownership and control, and from the dispersed nature of ownership. It summarizes the results of a survey of the governance practices of a large sample of public pension plans in less developed countries and discuss the relationship between poor governance and the performance of public pension funds. It attempts to draw lessons from the economic literature on corporate governance that can be used to improve the governance of public pension fund management.
Book Synopsis "Public Sector Pension Governance and Performance" by : Ping Lung Hsin
Download or read book "Public Sector Pension Governance and Performance" written by Ping Lung Hsin and published by . This book was released on 1994 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the determinants of public sector pension plan investment and funding behavior. Its goal is to draw lessons which may be used to improve the design and governance of public pensions. Plan performance is related to characteristics of the pension systems' governance structure and authority, using a new survey of U.S. state and local public pension plan governance practices and performance outcomes. The study suggests that most large public pension systems funded their plans satisfactorily in 1990, but some did not. Better public pension funding was associated with a pension system having in-house actuaries and when pension Board members were required to carry liability insurance. In contrast, public pension funding was lower when states experienced fiscal stress, and when employees were represented on the pension system Board. Pension funding did not appear sensitive to statutes guaranteeing benefits or funding levels, nor by the ability of states to carry budget deficits from one year to the next. The results also suggest that public pension Boards having more retiree-Trustees experienced lower investment returns, as did public sector pension plans required to devote a portion of their assets to in-state investments. Returns did not differ depending on whether a pension Board had in-house, or external money managers. No single set of pension plan management practices can optimize plan performance for all systems across all time periods. Nevertheless, these results suggest that care must be taken when designing the regulatory and investment environment in which these plans operate
Author :Michael Orszag, John Evans, John Piggott Publisher :Edward Elgar Publishing ISBN 13 :1781007667 Total Pages :284 pages Book Rating :4.7/5 (81 download)
Book Synopsis Pension fund governance by : Michael Orszag, John Evans, John Piggott
Download or read book Pension fund governance written by Michael Orszag, John Evans, John Piggott and published by Edward Elgar Publishing. This book was released on 2008-06-30 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'This collection of essays on a rapidly developing topic is a valuable addition to the field and the editors must be congratulated on beginning to bring the area to the attention of thinkers and government (not necessarily the same thing), who are charged with dealing with the challenge of controlling private pension provision.' - Robin Ellison, Pensions
Book Synopsis Upgrading the Investment Policy Framework of Public Pension Funds by : Dimitri Vittas
Download or read book Upgrading the Investment Policy Framework of Public Pension Funds written by Dimitri Vittas and published by World Bank Publications. This book was released on 2008 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: Public pension funds have the potential to benefit from low operating costs because they enjoy economies of scale and avoid large marketing costs. But this important advantage has in most countries been dissipated by poor investment performance. The latter has been attributed to a weak governance structure, lack of independence from government interference, and a low level of transparency and public accountability. Recent years have witnessed the creation of new public pension funds in several countries, and the modernization of existing ones in others, with special emphasis placed on upgrading their investment policy framework and strengthening their governance structure. This paper focuses on the experience of four new public pension funds that have been created in Norway, Canada, Ireland and New Zealand. The paper discusses the safeguards that have been introduced to ensure their independence and their insulation from political pressures. It also reviews their performance and their evolving investment strategies. All four funds started with the romantic idea of operating as 'managers of managers' and focusing on external passive management but their strategies have progressively evolved to embrace internal active management and significant investments in alternative asset classes. The paper draws lessons for other countries that wish to modernize their public pension funds.
Book Synopsis Public Pension Fund Management by : World Bank
Download or read book Public Pension Fund Management written by World Bank and published by World Bank Publications. This book was released on 2004 with total page 332 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Proceedings of the second Public Pension Fund Management Conference, May 2003."--T.p.
Book Synopsis On the Governance of Public Pension Fund Management by : Gregorio Impavido
Download or read book On the Governance of Public Pension Fund Management written by Gregorio Impavido and published by . This book was released on 2016 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Impavido surveys the empirical literature on the relationship between governance of public pension fund management and investment performance. He makes a preliminary attempt to identify good governance practices and distill governance guidelines aimed at reducing the political risk that is associated with central, public pension fund management. The author highlights the need for further work to support the development of a satisfactory set of governance guidelines.This paper - a product of the Financial Sector Operations and Policy Department - is part of a larger effort in the department to study the effects of contractual savings on financial markets.
Book Synopsis A History of Public Sector Pensions in the United States by : Robert Louis Clark
Download or read book A History of Public Sector Pensions in the United States written by Robert Louis Clark and published by University of Pennsylvania Press. This book was released on 2003-05-12 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis The Political Economy of Public Pensions by : Eileen Norcross
Download or read book The Political Economy of Public Pensions written by Eileen Norcross and published by Cambridge University Press. This book was released on 2021-09-02 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
