Author: United States. Congress. Senate. Committee on Labor and Human Resources. Subcommittee on Labor
Publisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 366

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Author: Natalya Shnitser
Publisher:
ISBN:
Category :
Languages : en
Pages : 53

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Using newly collected data on over 100 state-administered pension plans, this Article shows that previously overlooked differences in institutional design are associated with the striking variation in funding discipline across U.S. public pension plans. As state and local governments grapple with unfunded pension obligations, this Article presents a timely examination of public plan governance across two key dimensions: the allocation of control over funding decisions and the transparency with respect to funding liabilities. It shows empirically that greater constraints on legislative control over funding decisions -- typically through the delegation of control to pension-system boards -- have been associated with better funding discipline. Conversely, liability-pooling arrangements that have shrouded individual employer responsibility for underfunding have been associated with worse funding discipline. These findings should inform current reform efforts to address the multi-trillion dollar shortfall in pension funding. To date, such state and local government efforts have focused primarily on scaling back benefits for public employees but have overlooked the role of institutions in explaining why some public employers have consistently contributed to the pension funds while others have failed to set adequate contribution rates or have withheld promised funds.

Author: Frank Russek
Publisher: DIANE Publishing
ISBN: 1437985467
Category : Law
Languages : en
Pages : 9

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The recent financial crisis and economic recession have left many states and localities with extraordinary budgetary difficulties for the next few years, but structural shortfalls in their pension plans pose a problem that is likely to endure for much longer. This report discusses alternative approaches to assessing the size of those shortfalls and their implications for funding decisions. Figure and table. This is a print on demand edition of an important, hard-to-find report.

Author: Joseph F. Delfico
Publisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 20

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Author: United States. Congress. Senate. Committee on Labor and Human Resources. Subcommittee on Labor
Publisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 0

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Author: Jun Peng
Publisher: CRC Press
ISBN: 0849305519
Category : Political Science
Languages : en
Pages : 286

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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: U S Government Accountability Office (G
Publisher: BiblioGov
ISBN: 9781289011420
Category :
Languages : en
Pages : 22

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GAO discussed its ongoing study of current pension plan funding rules and the impact of proposed pension reform legislation on underfunded plans insured by the Pension Benefit Guaranty Corporation (PBGC). GAO noted that: (1) underfunding in PBGC-insured single-employer plans increased from $31 billion in 1990 to over $50 billion in 1992; (2) current law provides for an offset that either completely eliminates or significantly reduces requirements that sponsors of underfunded plans make additional funding contributions; (3) H.R. 298 would require even fewer plan sponsors to make additional but significantly larger funding contributions; (4) H.R. 3396 would increase the number of sponsors required to make additional contributions and also increase the contribution amount; (5) a solvency rule, actuarial restrictions, and increased deficit reduction contributions included in H.R. 3396 could also increase contributions for underfunded plans; and (6) H.R. 3396 should be strengthened further to ensure that more sponsors of underfunded plans make additional contributions.

Author: United States. Congress. Senate. Committee on Labor and Human Resources. Subcommittee on Labor
Publisher:
ISBN:
Category : Pension trusts
Languages : en
Pages : 360

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Author: Association of Private Pension and Welfare Plans
Publisher:
ISBN:
Category : Old age pensions
Languages : en
Pages : 72

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Author:
Publisher:
ISBN:
Category :
Languages : en
Pages :

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Abstract: The public pension crisis has come under increasing scrutiny over the past decade as shifting demographic trends, harsh economic conditions and the very nature of pension funds have changed, and not for the better. Pension funds create valuable saving and investment tools for an individual's retirement. They make what seems like the impossible daunting task of saving sufficient funds for retirement completely feasible. All indications lead to these trends continuing, therefore pension plans need to adapt and reform. This paper is to address the pension crisis in the U.S. and intends to provide some recommendations for policy makers. This paper used the U.S. Census Bureau pension data for the fiscal years 2005-2014 to select a sample of 15 states. The time series data will be analyzed using the MDA (Multiple Discriminant Analysis) methodology to assess if a pension plan is bound to fail. MDA is used in the banking industry as a method to predict financial distress or default of bank