Sustainability Of State And Local Government Pension Plans

Author : Natt B. Price
Publisher : Nova Science Publishers
Page : 0 pages
File Size : 44,5 Mb
Release : 2013
Category : Civil service
ISBN : 1629481297

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Sustainability of State and Local Government Pension Plans by Natt B. Price Pdf

Over 27 million employees and beneficiaries are covered by state and local government pension plans. However, the recent economic downturn and associated budget challenges confronting state and local governments pose some questions as to the sustainability of these plans, and what changes, if any, state and local governments are making to strengthen the financial condition of their pension plans. The Government Accountability Office (GAO) was asked to examine recent trends in the financial condition of state and local government pension plans; and strategies state and local governments are using to manage pension costs and the impacts of these strategies on plans, sponsors, employees, and retirees. This book analyses sector-wide financial conditions based on national-level data on pension funding from the U.S. Census Bureau and others, and reviews information on recent state legislative changes affecting government pensions from annual reports prepared by the National Conference of State Legislatures (NCSL).

Author : United States Government Accountability Office
Publisher : Createspace Independent Publishing Platform
Page : 54 pages
File Size : 52,9 Mb
Release : 2018-01-08
Category : Electronic
ISBN : 1983621803

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State and Local Government Pension Plans by United States Government Accountability Office Pdf

State and Local Government Pension Plans: Economic Downturn Spurs Efforts to Address Costs and Sustainability

Author : U.s. Government Accountability Office
Publisher : Createspace Independent Publishing Platform
Page : 54 pages
File Size : 44,6 Mb
Release : 2017-08-04
Category : Electronic
ISBN : 1974229696

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State and Local Government Pension Plans by U.s. Government Accountability Office Pdf

" Over 27 million employees and beneficiaries are covered by state and local government pension plans. However, the recent economic downturn and associated budget challenges confronting state and local governments pose some questions as to the sustainability of these plans, and what changes, if any, state and local governments are making to strengthen the financial condition of their pension plans. GAO was asked to examine (1) recent trends in the financial condition of state and local government pension plans and (2) strategies state and local governments are using to manage pension costs and the impacts of these strategies on plans, sponsors, employees, and retirees. To address these topics, GAO analyzed various measures of sector-wide financial condition based on national-level data on pension funding from the U.S. Census Bureau and others, and reviewed information on recent state legislative changes affecting government pensions from annual reports prepared by the National Conference of State Legislatures (NCSL). GAO did not assess the soundness of individual plans, but did obtain documents and conduct interviews with pension and budget officials in eight states and eight localities, selected to illustrate the range of strategies being implemented to meet current and future pension funding requirement. The Internal Revenue Service and"

Author : Jun Peng
Publisher : CRC Press
Page : 286 pages
File Size : 45,9 Mb
Release : 2008-08-21
Category : Political Science
ISBN : 9780849305511

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State and Local Pension Fund Management by Jun Peng Pdf

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 : Robert D. Ebel,John E. Petersen
Publisher : Oxford University Press
Page : 1056 pages
File Size : 44,8 Mb
Release : 2012-03-21
Category : Business & Economics
ISBN : 9780199938315

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The Oxford Handbook of State and Local Government Finance by Robert D. Ebel,John E. Petersen Pdf

State and local government fiscal systems have increasingly become vulnerable to economic changes. Over the past three decades, state and local deficits during economic recession have been larger and deeper each time. The impact of the Great Recession and its aftermath of feeble growth and lingering high unemployment has been dramatic both in scope and intensity. Before the crisis, long-term structural deficits were persistent for both individual governments and the entire sector as spending plans and patterns outpaced governments' revenue-generating capacity. The revenue systems of these governments eroded while the workloads and scope on the expenditure side of the state and local system budget continued to grow. This handbook evaluates the persistent problems in the fiscal systems of state and local governments and what can be done to solve them. It contains 35 chapters authored by 60 practitioners and academics who are renowned scholars in state and local finance. Each chapter provides a description of the discipline area, examines major developments in policy, practices and research, and opines on future prospects. The chapters are divided into four sections. Section I is a systematic discussion of the institutional, economic, and political framework that provides a background for understanding the structure and financial performance of the state and local sector. The chapters in Section II provide an overview of the various components of state and local revenue systems and how they reacted to the Great Recession. They analyze the diverse forms of taxes and charges in detail, prescribe remedies and alternatives, and examine the implications for future revenue performance. Chapters in Section III turn to spending, borrowing and financial management in the state and local sector. The focus is on the big six service delivery sectors: education, health care, human services, transportation, pensions, and housing. Section IV is a set of chapters that look ahead and speculate about how the state and local government sector's money-raising, spending, and service delivery structures will adjust to the new circumstances.

Author : United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Publisher : Unknown
Page : 128 pages
File Size : 42,7 Mb
Release : 2011
Category : Business & Economics
ISBN : UCSD:31822038356937

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

Author : Janice Eberly,James H. Stock
Publisher : Brookings Institution Press
Page : 350 pages
File Size : 49,9 Mb
Release : 2022-01-25
Category : Electronic
ISBN : 9780815739470

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Brookings Papers on Economic Activity: Spring 2021 by Janice Eberly,James H. Stock Pdf

Brookings Papers on Economic Activity (BPEA) provides academic and business economists, government officials, and members of the financial and business communities with timely research on current economic issues.

Author : United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Employer-Employee Relations
Publisher : Unknown
Page : 100 pages
File Size : 54,5 Mb
Release : 2006
Category : Political Science
ISBN : PSU:000058946671

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Examining the Retirement Security of State and Local Government Employees by United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Employer-Employee Relations Pdf

Author : United States. Congress. House. Committee on the Judiciary. Subcommittee on Courts, Commercial and Administrative Law
Publisher : Unknown
Page : 176 pages
File Size : 47,6 Mb
Release : 2011
Category : Business & Economics
ISBN : UCSD:31822037830569

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Role of Public Employee Pensions in Contributing to State Insolvency and the Possibility of a State Bankruptcy Chapter by United States. Congress. House. Committee on the Judiciary. Subcommittee on Courts, Commercial and Administrative Law Pdf

Author : Samuel Pienknagura,Christopher Evans
Publisher : International Monetary Fund
Page : 52 pages
File Size : 42,9 Mb
Release : 2021-09-10
Category : Business & Economics
ISBN : 9781513596112

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Assessing Chile's Pension System: Challenges and Reform Options by Samuel Pienknagura,Christopher Evans Pdf

Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.

Author : Alicia H. Munnell
Publisher : Rowman & Littlefield
Page : 266 pages
File Size : 55,6 Mb
Release : 2012-08-27
Category : Business & Economics
ISBN : 9780815724131

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State and Local Pensions by Alicia H. Munnell Pdf

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.

Author : United States. Securities and Exchange Commission
Publisher : Unknown
Page : 58 pages
File Size : 48,8 Mb
Release : 1956
Category : Old age pensions
ISBN : MINN:30000011035924

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Survey of Corporate Pension Funds by United States. Securities and Exchange Commission Pdf

Author : Mark C. Dorfman,Robert Holzmann,Philip O'Keefe,Dewen Wang,Yvonne Sin,Richard Hinz
Publisher : World Bank Publications
Page : 264 pages
File Size : 46,7 Mb
Release : 2013-03-08
Category : Political Science
ISBN : 9780821395417

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China's Pension System by Mark C. Dorfman,Robert Holzmann,Philip O'Keefe,Dewen Wang,Yvonne Sin,Richard Hinz Pdf

Comprehensive reform of China s pension and social security system is an essential element of achieving its objectives of a harmonious society and sustainable development.

Author : Genie N. L. Stowers
Publisher : Routledge
Page : 364 pages
File Size : 52,8 Mb
Release : 2017-10-02
Category : Political Science
ISBN : 9781317509882

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Managing the Sustainable City by Genie N. L. Stowers Pdf

We hear the term “sustainability” everywhere today. In the context of city management, the term often refers to environmental concerns, both locally and globally. Managing the Sustainable City examines not only how cities can prepare to weather the local effects of climate change, but also how urban centers can sustain themselves through other modern management challenges, including budgeting and finance, human resource management, public safety, and infrastructure. This clearly written and engaging new textbook provides a comprehensive overview of urban administration today, exploring the unique demographics of cities, local government political structures, intergovernmental relations, and the full range of service delivery areas for which cities are ever more responsible. Throughout the book, two important components of city management today—the use of technology and measuring performance for accountability—are highlighted, along with NASPAA accreditation standards and competencies. Particular attention is paid to incorporating Urban Administration standards to provide students using the text will have a thorough understanding of: The ethics of local government management The roles and relationships among local and elected/appointed government officials, as well as what makes local institutions different from other institutions Strategies for engaging citizens in local governance The complexities of intergovernmental and network relationships to develop skills in collaborative governance How to manage local government financial resources as well as human resources Public service values such as accountability, transparency, efficiency, effectiveness, ethical behavior, and equity and emphasized throughout the text, and discussion questions, exercises, and "career pathways" highlighting successful public servants in a variety of city management roles are included in each chapter. Managing the Sustainable City is an ideal textbook for students of public administration, public policy, and public affairs interested in learning how cities can be sustainable—in their management, their policies, and their interactions with their citizens—as well as in preparing for and managing the impacts of climate change.

Author : Norma M. Riccucci,Katherine C. Naff,Madinah F. Hamidullah
Publisher : Routledge
Page : 421 pages
File Size : 49,8 Mb
Release : 2019-11-21
Category : Political Science
ISBN : 9780429754470

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Personnel Management in Government by Norma M. Riccucci,Katherine C. Naff,Madinah F. Hamidullah Pdf

With over 20 million people on its payroll, the government is the largest employer in the country. Managing people who do the nation’s work is of critical importance to politicians, government leaders, and citizens alike. Personnel Management in Government: Politics and Process, eighth edition, examines the progress and innovations that public personnel professionals are making to address changes in the political, legal, and managerial environment of government. It provides students with a comprehensive understanding of human resource management within its historical and political context in the public sector. A number of new developments are addressed in the eighth edition, including discussion of: Human resource management in nonprofit organizations in an all-new, dedicated chapter Current and future challenges to recruitment and hiring, including the use of social media in recruitment Privatization and contracting out The rise of employment "at will" policies Digital technology or "digitalization" in HRM and the need to enhance cybersecurity Managing performance with human capital analytics Increased reliance on telework States’ attacks on public sector labor unions HRM changes under the Trump administration Since publication of the first edition in 1977, Personnel Management in Government has addressed issues not yet considered mainstream, but that have proven central to the development of the field over time. This long-standing but no less innovative textbook is required reading for all students of public, government, and non-profit personnel management.