State and Local Retirement Plans in the United States

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Author :
Publisher : Edward Elgar Publishing
ISBN 13 : 0857930591
Total Pages : 241 pages
Book Rating : 4.8/5 (579 download)

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Book Synopsis State and Local Retirement Plans in the United States by : Robert L. Clark

Download or read book State and Local Retirement Plans in the United States written by Robert L. Clark and published by Edward Elgar Publishing. This book was released on 2011-01-01 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: State and Local Retirement Plans in the United States explains how economic and political events have shaped the development of pension plans in the last century, and it argues that changes in the structure and generosity of these plans will continue to shape policy and funding in the future. It also brings to bear a new rationale to the policies behind public sector pension plans. The authors use the history of how early public pension plans were established, how they matured and how they have grown in generosity to analyze what changes may be expected in years to come. Unique in its scope, this comprehensive history of the development of public sector pension plans in the United States during the twentieth century expands upon current ideas relating to the changing economic environment, the passage and evolution of social security, and the expansion of the public sector. With the exception of military pension plans, which date from the eighteenth century, the first public sector plans, dating from the late nineteenth century, were established to cover teachers, police officers and fire fighters in large cities. Over time, these retirement plans were extended to other public sector workers and the local plans were often merged with plans for state workers; all of these date from the twentieth century. Here, the authors show just how pension coverage for public sector workers expanded steadily, through the first half of the twentieth century, so that by the 1960s the vast majority of public sector workers were covered by a plan. This analysis demonstrates how economic events and shifts in public policy at the federal, state, and local levels helped to shape public sector retirement plans. The authors also compare public plans with private sector plans, and the final chapter focuses on recent changes in public pensions in response to the 'Great Recession', concurrent sharp declines in equity markets and the aging of the public workforce.

State and Local Pension Fund Management

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Author :
Publisher : CRC Press
ISBN 13 : 0849305519
Total Pages : 286 pages
Book Rating : 4.8/5 (493 download)

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Book Synopsis State and Local Pension Fund Management by : Jun Peng

Download or read book State and Local Pension Fund Management written by Jun Peng and published by CRC Press. This book was released on 2008-08-21 with total page 286 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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

Funding of State and Local Government Pension Plans

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Author :
Publisher : BiblioGov
ISBN 13 : 9781289150358
Total Pages : 142 pages
Book Rating : 4.1/5 (53 download)

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Book Synopsis Funding of State and Local Government Pension Plans by : U S Government Accountability Office (G

Download or read book Funding of State and Local Government Pension Plans written by U S Government Accountability Office (G and published by BiblioGov. This book was released on 2013-07-01 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Congress is considering establishing federal standards for state and local government pension plans similar to those imposed on private plans by the Employee Retirement Income Security Act of 1974. The act generally provides that the minimum standard for pension funding by private employers be an annual contribution for normal costs plus the amount needed to amortize current unfunded liabilities in 40 equal annual installments. Public pensions are becoming a large financial burden on state and local governments, and that burden will increase in the future. Many jurisdictions do not systematically fund retirement benefits accruing to their employees. Adopting a pension plan funding standard similar to that required by the act would have serious initial impact on some jurisdictions. During the years the plans are on a pay-as-you-go basis, their unfunded liabilities will continue to grow. At the end of the amortization period of 40 years required for private plans, their unfunded liabilities will more than triple and yearly pay-as-you-go contributions will increase several fold. To protect the pension benefits earned by public employees and to avert fiscal disaster, state and local governments need to fund the normal or current cost of their pension plans on an annual basis and amortize the plans' unfunded liabilities. Although sponsoring governments are responsible for sound funding of state and local government plans, the federal government has substantial interest in these pension plans. Many jurisdictions have increasingly relied on federal grant funds and revenue sharing to help meet pension plan costs. These plans directly affect the continued well-being and security of millions of state and local government employees and their dependents.

Funding of State and Local Government Pension Plans, a National Problem

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Author :
Publisher :
ISBN 13 :
Total Pages : 125 pages
Book Rating : 4.:/5 (796 download)

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Book Synopsis Funding of State and Local Government Pension Plans, a National Problem by : United States. General Accounting Office

Download or read book Funding of State and Local Government Pension Plans, a National Problem written by United States. General Accounting Office and published by . This book was released on 1979 with total page 125 pages. Available in PDF, EPUB and Kindle. Book excerpt:

State and Local Pension Plans

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Author :
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis State and Local Pension Plans by : Olivia S. Mitchell

Download or read book State and Local Pension Plans written by Olivia S. Mitchell and published by . This book was released on 1995 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the role and function of pension plans covering state and local government employees in the United States. Covering about 16 million employees (including teachers, fire fighters, police, members of the judiciary, and many other state and local employees), these plans manage a substantial stock of financial assets -- close to $1 trillion -- and receive annual contributions from employees and government revenues totaling about $56 billion. Using data gathered from a variety of different sources, some of which have only recently become available, we describe the benefits, financing, and management of these plans, and identify some of the prominent challenges facing these pension plans in the next decade.

State and Local Pension Systems

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Author :
Publisher :
ISBN 13 :
Total Pages : 116 pages
Book Rating : 4.:/5 ( download)

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Book Synopsis State and Local Pension Systems by : United States. Advisory Commission on Intergovernmental Relations

Download or read book State and Local Pension Systems written by United States. Advisory Commission on Intergovernmental Relations and published by . This book was released on 1980 with total page 116 pages. Available in PDF, EPUB and Kindle. Book excerpt:

State and Local Pensions

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Author :
Publisher : Rowman & Littlefield
ISBN 13 : 0815724136
Total Pages : 266 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis State and Local Pensions by : Alicia H. Munnell

Download or read book State and Local Pensions written by Alicia H. Munnell and published by Rowman & Littlefield. This book was released on 2012-08-27 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.

Funding of State and Local Government Pension Plans, a National Problem

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Author :
Publisher :
ISBN 13 :
Total Pages : 152 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Funding of State and Local Government Pension Plans, a National Problem by : United States. General Accounting Office

Download or read book Funding of State and Local Government Pension Plans, a National Problem written by United States. General Accounting Office and published by . This book was released on 1979 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:

State and Local Pensions

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Author :
Publisher : Brookings Institution Press
ISBN 13 : 0815724128
Total Pages : 266 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis State and Local Pensions by : Alicia Haydock Munnell

Download or read book State and Local Pensions written by Alicia Haydock Munnell and published by Brookings Institution Press. This book was released on 2012 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 abroad perspective on the challenge of state and local pensions. She shows that the storyis big and complicated and cannot be viewed through a narrow prism such as accountingmethods 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. Buteven 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.

Retirement Coverage of State and Local Government Employees

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Author :
Publisher :
ISBN 13 :
Total Pages : 12 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Retirement Coverage of State and Local Government Employees by : United States. Bureau of the Census

Download or read book Retirement Coverage of State and Local Government Employees written by United States. Bureau of the Census and published by . This book was released on 1953 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt:

State and Local Employee Pension Plans

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Author :
Publisher :
ISBN 13 :
Total Pages : 24 pages
Book Rating : 4.3/5 (9 download)

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Book Synopsis State and Local Employee Pension Plans by : Bernard Jump

Download or read book State and Local Employee Pension Plans written by Bernard Jump and published by . This book was released on 1976 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Pension Reform for State and Local Employee Retirement Systems

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Author :
Publisher :
ISBN 13 :
Total Pages : 636 pages
Book Rating : 4.0/5 (1 download)

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Book Synopsis Pension Reform for State and Local Employee Retirement Systems by : United States. Congress. Senate. Committee on Finance. Subcommittee on Savings, Pensions, and Investment Policy

Download or read book Pension Reform for State and Local Employee Retirement Systems written by United States. Congress. Senate. Committee on Finance. Subcommittee on Savings, Pensions, and Investment Policy and published by . This book was released on 1982 with total page 636 pages. Available in PDF, EPUB and Kindle. Book excerpt:

State and Local Government Retirement Systems, 1965

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Author :
Publisher :
ISBN 13 :
Total Pages : 96 pages
Book Rating : 4.:/5 (321 download)

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Book Synopsis State and Local Government Retirement Systems, 1965 by : Joseph Krislov

Download or read book State and Local Government Retirement Systems, 1965 written by Joseph Krislov and published by . This book was released on 1966 with total page 96 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Transparency and Funding of State and Local Pension Plans

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Author :
Publisher :
ISBN 13 :
Total Pages : 128 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Transparency and Funding of State and Local Pension Plans by : United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight

Download or read book Transparency and Funding of State and Local Pension Plans written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight and published by . This book was released on 2011 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Employee Pension Systems in State and Local Government

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Author :
Publisher :
ISBN 13 :
Total Pages : 84 pages
Book Rating : 4.3/5 (9 download)

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Book Synopsis Employee Pension Systems in State and Local Government by : Tax Foundation

Download or read book Employee Pension Systems in State and Local Government written by Tax Foundation and published by . This book was released on 1976 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Reporting Requirements for State and Local Government Pension Plans and Tax Treatment of Deferred Amounts Under Nonqualified Deferred Compensation Plans

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Author :
Publisher :
ISBN 13 :
Total Pages : 182 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis Reporting Requirements for State and Local Government Pension Plans and Tax Treatment of Deferred Amounts Under Nonqualified Deferred Compensation Plans by : United States. Congress. Senate. Committee on Finance. Subcommittee on Private Pension Plans and Employee Fringe Benefits

Download or read book Reporting Requirements for State and Local Government Pension Plans and Tax Treatment of Deferred Amounts Under Nonqualified Deferred Compensation Plans written by United States. Congress. Senate. Committee on Finance. Subcommittee on Private Pension Plans and Employee Fringe Benefits and published by . This book was released on 1978 with total page 182 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Reporting Requirements for State and Local Government Pension Plans and Tax Treatment of Differed Amounts Under Nonqualified Deferred Compensation Plans

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Author :
Publisher :
ISBN 13 :
Total Pages : 184 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Reporting Requirements for State and Local Government Pension Plans and Tax Treatment of Differed Amounts Under Nonqualified Deferred Compensation Plans by : United States. Congress. Senate. Committee on Finance. Subcommittee on Private Pension Plans and Employee Fringe Benefits

Download or read book Reporting Requirements for State and Local Government Pension Plans and Tax Treatment of Differed Amounts Under Nonqualified Deferred Compensation Plans written by United States. Congress. Senate. Committee on Finance. Subcommittee on Private Pension Plans and Employee Fringe Benefits and published by . This book was released on 1978 with total page 184 pages. Available in PDF, EPUB and Kindle. Book excerpt: