Funding Archives - Page 28 of 31 - Pension Policy International

15AprApril 15, 2019

Political Parties Do Matter In U.S. Cities… For Their Unfunded Pensions

By Christian Dippel Using data covering a wide range of municipal public-sector pension plans from 1962– 2014, I establish that unfunded pension benefits grow faster under Democratic-party mayors, using a regression discontinuity design (RDD) focusing on narrow mayoral races. Previous evidence shows that parties do not matter for a range of fiscal outcomes in U.S. cities, and suggests this is because Tiebout sorting imposes fiscal discipline. This paper shows that parties do matter for types of fiscal spending...

April 15, 2019

Articles, Sustainability2019, Funding, US

31MarMarch 31, 2019

Global Pension Crisis: Unfunded Liabilities and How We Can Fill the Gap

By Richard A. Marin, Robert H. Frank A comprehensive look at the crisis of unfunded pension liabilities and what must be done to avoid the same problem in the future As the generational bubble of the Baby Boomers begins to retire, it is increasingly evident that governments, corporations, and individuals have failed to adequately prepare for the obligations and needs of this giant cohort. Retirees are outliving actuarial life expectancies, pension liabilities are skyrocketing, pension plans are underfunded, and medical costs...

March 31, 2019

Books, Books, System Sustainability2013, Corporate Governance, Funding, Pension Management, Public Pensions

05OctOctober 5, 2018

Counting the Oil Money and the Elderly: Norway's Public Sector Balance Sheet

By Ezequiel Cabezon (University of North Carolina (UNC) at Chapel Hill), Christian Henn (International Monetary Fund) Based on a permanent income analysis, Gagnon (2018) has prominently suggested that Norwayhas saved too much, thereby free-riding on the rest of the world for demand. Our public sectorbalance sheet analysis comes to the opposite conclusion, chiefly because it also accounts forfuture aging costs. Unsurprisingly, we find that Norway's current assets exceed its liabilities bysome 340 percent of mainland GDP. But its nonoil fiscal...

October 5, 2018

Aging, Articles, Labor Market, RegulationFunding, Norway 2018, Public Policy

05OctOctober 5, 2018

Counting the Oil Money and the Elderly: Norway’s Public Sector Balance Sheet

By Ezequiel Cabezon (University of North Carolina (UNC) at Chapel Hill), Christian Henn (International Monetary Fund) Based on a permanent income analysis, Gagnon (2018) has prominently suggested that Norwayhas saved too much, thereby free-riding on the rest of the world for demand. Our public sectorbalance sheet analysis comes to the opposite conclusion, chiefly because it also accounts forfuture aging costs. Unsurprisingly, we find that Norway's current assets exceed its liabilities bysome 340 percent of mainland GDP. But its nonoil fiscal...

October 5, 2018

Aging, Articles, Labor Market, RegulationFunding, Norway 2018, Public Policy

17SepSeptember 17, 2018

The Crisis in Public Sector Pension Plans: A Blueprint for Reform in New Jersey

By Eileen Norcross (George Mason University - Mercatus Center) & Andrew G. Biggs (American Enterprise Institute) In this study, we consider the case of New Jersey, which operates five defined benefit pension plans for state employees. The New Jersey Senate unanimously passed legislation in February 2010 that would put a question on the November ballot to constitutionally require the state to begin to make its full annual payment to the state’s pension system. The bill requires the state to catch...

September 17, 2018

Articles, Management, Pension design2018, Funding, State Pensions, US

13SepSeptember 13, 2018

The world’s largest pension funds – year ended 2017

Assets under management of the world's largest pension funds totalled US$18.1 trillion in 2017. Funds increased their value by 15.1% in 2017, compared to an increase of 6.1% in 2016. Strong market returns for all major asset classes helped boost pension assets during the year. The top 20 funds experienced a higher increase than the overall ranking (17.4%), thus increasing their relative size to 41.1% of total assets. North America remained the largest region in terms of AUM, accounting for 42.3% of all...

September 13, 2018

Books, Corporate Governance, Management, Pension design, Slider-Left2018, Funding, Investment

23JulJuly 23, 2018

Central States Pension Fund: Department of Labor Activities Under the Consent Decree and Federal Law

By Charles A. Jeszeck (Government Accountability Office (GAO)), David Lehrer (Government Accountability Office (GAO)), Margaret Weber, Laurel E. Beedon, Charles J Ford, Jessica Moscovitch, Layla Moughari, Joseph Silvestri, Anjali Tekchandani, Frank Todisco (Independent), Adam Wendel (Government Accountability Office (GAO)) The Central States, Southeast and Southwest Areas Pension Fund (CSPF) was established in 1955 to provide pension benefits to trucking industry workers and is one of the largest multiemployer plans. According to its regulatory filings, CSPF had less than half the...

July 23, 2018

Articles, Labor Market, Regulation2018, Funding, Reform, US

16JulJuly 16, 2018

The Extent and Nature of State and Local Government Pension Problems and a Solution

By Ross Marchand (Taxpayers Protection Alliance) & Mark Warshawsky (Government of the United States of America - Social Security Administration) Some states and municipalities are in difficult financial straits. Many more have severely underfunded defined benefit pension plans for their past and current employees. At the intersection of these two sets, it is likely that the pension plans are not sustainable and cuts are inevitable, including to the benefits of current retirees. But in many of these states and municipalities,...

July 16, 2018

Articles, Pension design, System Sustainability2018, DB Pensions, Funding, Public Pensions

06JulJuly 6, 2018

Demography and Provisions for Retirement: The Pension Composition, an Equilibrium Approach

By B.M.S. van Praag (University of Amsterdam) & J. Peter Hop (University of Amsterdam) Pensions may be provided for in a modern society by several methods, viz., voluntary individual savings, mandatory fully funded occupational pension systems, and mandatory social security financed by pay-as-you-go. The specific mixture of the three systems we will call the pension composition. We assume that individual workers decide about their own individual savings, that the fully funded occupational system is decided upon by the age cohort of...

July 6, 2018

Adequacy, Articles, Labor Market, Pension design2018, Funding, Investement, Netherlands, Political economy, Social Security

16JunJune 16, 2018

Public Pensions: State and Local Government Contributions to Underfunded Plans

By United States General Accounting Office (GAO) Pursuant to a congressional request, GAO reviewed the status of public pension plan funding, focusing on the basic pension plans of state and local governments. GAO found that: (1) states and localities with underfunded pension plans run the risk of reducing future pension benefits to taxpayers or raising revenues; (2) unfunded liabilities for all state and local pension plans totalled $200 billion in 1992; (3) contributions to pension funds in 1992 fell short of...

June 16, 2018

Books, Management, System SustainabilityCoverage, Funding, Public Pensions, State Pensions, US

April 2019

Political Parties Do Matter In U.S. Cities… For Their Unfunded Pensions

March 2019

Global Pension Crisis: Unfunded Liabilities and How We Can Fill the Gap

October 2018

Counting the Oil Money and the Elderly: Norway's Public Sector Balance Sheet

Counting the Oil Money and the Elderly: Norway’s Public Sector Balance Sheet

September 2018

The Crisis in Public Sector Pension Plans: A Blueprint for Reform in New Jersey

The world’s largest pension funds – year ended 2017

July 2018

Central States Pension Fund: Department of Labor Activities Under the Consent Decree and Federal Law

The Extent and Nature of State and Local Government Pension Problems and a Solution

June 2018

Public Pensions: State and Local Government Contributions to Underfunded Plans