State Pensions Archives - Page 10 of 11 - Pension Policy International

20SepSeptember 20, 2019

China’s workforce saving more for retirement amid concerns about state pension, survey finds

China should not be alarmed by a much slower economic growth rate in the coming years, perhaps as low as 5 or even 4 per cent, with the economy now large enough to still create sufficient jobs at these growth rates, according to three prominent Chinese economists who advise the government. The headline gross domestic product (GDP) growth rate slowed to 6.2 per cent in the second quarter this year, the lowest figure since quarterly records began in March...

September 20, 2019

News, Slider2019, China, Private Pensions, Saving, State Pensions

30AugAugust 30, 2019

The Impact of Governmental Accounting Standards on Public-Sector Pension Funding

By Divya Anantharaman, Elizabeth Chuk The funding policy for defined benefit pension plans covering government employees represents an important decision for government entities sponsoring those plans. In recent years, a number of state and local governments have experienced extreme funding shortfalls (e.g., New Jersey, Illinois, and Detroit), raising concerns about whether government entities are contributing enough to their pensions. Governmental Accounting Standards Board Statements Number 67/68 (hereafter, “GASB 67/68”) fundamentally alter the financial reporting of pension liabilities, by (i)...

August 30, 2019

Articles, Pension design, Savings, System Sustainability2019, Public Pensions, State Pensions, US

04DecDecember 4, 2018

Pension Reform and Return to Work Policies

By Maria Donovan Fitzpatrick For many people, working after beginning retirement benefit collection is a way to enhance financial security by increasing income. Existing research has shown that retirees are sensitive to the Social Security earnings test, which restricts the amount of earnings some beneficiaries can receive. However, little is known about the effects of other types of policies on post-retirement employment. Instead of restricting earnings, many public pension plans restrict the number of hours beneficiaries can work. I use...

December 4, 2018

Aging, Articles, Labor Market, Pension design2018, Public Policy, Social Security, State Pensions

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

03SepSeptember 3, 2018

State Pension Accounting Estimates and Strong Public Unions

By Samuel B. Bonsall (Pennsylvania State University - Department of Accounting), Joseph Comprix (Syracuse University) & Karl A. Muller (Pennsylvania State University - Department of Accounting) Concerns are commonly raised that strong public unions extract generous pension benefits from state governments and are the cause of states’ burdensome pension obligations. Prior research (Anzia and Moe 2015) finds evidence supporting such concerns. Consistent with incentives to minimize such perceptions, our findings suggest that state pension plans with stronger public unions select...

September 3, 2018

Articles, Labor Market, Pension design2018, State Pensions, US

30JunJune 30, 2018

Later Pension, Poorer Health? Evidence from the New State Pension Age in the UK

By Ludovico Carrino (King's College London; Ca Foscari University of Venice - Dipartimento di Economia), Karen Glaser (University of London - Department of Social Science, Health and Medicine (SSHM)) & Mauricio Avendano (King's College London) This paper examines the health impact of UK pension reforms that increased women’s State Pension age for up to six years since 2010. Exploiting an 11% increase in employment caused by the reforms, we show that rising the State Pension age reduces physical and mental...

June 30, 2018

Aging, Articles, Pension design2018, Labor Market, Retirement Age, State Pensions, UK

25JunJune 25, 2018

Retiring Employees, Unretired Debt: The Surprising Hidden Cost of Federal Employee Pensions

By William B. P. Robson (C.D. Howe Institute) & Alexandre Laurin (C.D. Howe Institute) Ottawa provides its employees with defined-benefit pensions that promise relatively generous benefits to a large current and former workforce. Being largely unfunded, these plans require future taxpayer support. They also create taxpayer risk because the economic value of the benefits they will provide can fluctuate by tens of billions of dollars annually. Current accounting practices understate this burden and the risks these plans create for taxpayers...

June 25, 2018

Articles, Management, System Sustainability2018, Defined Benefit, State Pensions

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

19MarMarch 19, 2018

The High Cost of Good Intentions: A History of U.S. Federal Entitlement Programs

By John F. Cogan Federal entitlement programs are strewn throughout the pages of U.S. history, springing from the noble purpose of assisting people who are destitute through no fault of their own. Yet as federal entitlement programs have grown, so too have their inefficiency and their cost. Neither tax revenues nor revenues generated by the national economy have been able to keep pace with their rising growth, bringing the national debt to a record peacetime level. The High Cost of...

March 19, 2018

Books, Pension design, System SustainabilityGovernment, Public Policy, Social Protection, State Pensions

05FebFebruary 5, 2018

A Framework for Analyzing Defined Benefit Pension Insurance: The Survivor Benefit Plan for Veterans

By William W. Jennings (U.S. Air Force Academy - Department of Management), Jeff Merrell (University of Colorado at Boulder - Leeds School of Business) Thomas O'Malley (U.S. Air Force Academy - Department of Management) & Brian Payne (US Air Force Academy) Millions of defined benefit pensioners must select a pension insurance method. We present a framework for making this decision within the context of US military veterans’ Survivor Benefit Plan (SBP). Federal government subsidies generate a positive expected net payout...

February 5, 2018

Articles, Pension design, Regulation2018, Policy, State Pensions, US

September 2019

China’s workforce saving more for retirement amid concerns about state pension, survey finds

August 2019

The Impact of Governmental Accounting Standards on Public-Sector Pension Funding

December 2018

September 2018

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

State Pension Accounting Estimates and Strong Public Unions

June 2018

Later Pension, Poorer Health? Evidence from the New State Pension Age in the UK

Retiring Employees, Unretired Debt: The Surprising Hidden Cost of Federal Employee Pensions

Public Pensions: State and Local Government Contributions to Underfunded Plans

March 2018

February 2018

A Framework for Analyzing Defined Benefit Pension Insurance: The Survivor Benefit Plan for Veterans