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Pensions in the Public Sector (Pension Research Council Publications)
 
 
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Pensions in the Public Sector (Pension Research Council Publications) (Hardcover)

by Olivia S. Mitchell (Editor), Edwin C. Hustead (Editor) "Pension systems for government employees represent an important and influential segment of the pension market..." (more)
Key Phrases: navy pension plan, transition from defined benefit, benefit accrual patterns, United States, New York, New Jersey (more...)
5.0 out of 5 stars See all reviews (4 customer reviews)

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Editorial Reviews

Review

"An essential reference tool for actuaries and others involved in government retirement systems. It also will provide insight to the general public regarding the ways tax dollars are being spent in this important arena."--The Actuarial Digest



Product Description

Some 13 million public-sector workers in the United States--including teachers, police and firefighters, state and municipal employees, judges, and legislators--and another six million federal and military employees participate in government pension plans. These pension systems are extraordinarily diverse in design, investment policy, and governance, and they face substantial challenges as the government-sector workforce ages and governments are asked to take on new and different tasks.

Public employee pensions are in deep trouble in many countries, undermining economic policy and threatening retiree well being. What can be done to help these programs perform more efficiently and enhance old-age security? From the Pension Research Council of the Wharton School, this volume takes stock of public pension developments in the US and Canada, highlighting challenges these financial institutions face in coming decades. The first Pension Research Council study of public pensions in a quarter of a century tackles these topics with an impressive team of international actuarial, legal, and economic experts.



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Product Details

  • Hardcover: 408 pages
  • Publisher: University of Pennsylvania Press (November 14, 2000)
  • Language: English
  • ISBN-10: 0812235789
  • ISBN-13: 978-0812235784
  • Product Dimensions: 9.5 x 6.3 x 1.2 inches
  • Shipping Weight: 2.2 pounds (View shipping rates and policies)
  • Average Customer Review: 5.0 out of 5 stars See all reviews (4 customer reviews)
  • Amazon.com Sales Rank: #1,513,518 in Books (See Bestsellers in Books)

Inside This Book (learn more)
First Sentence:
Pension systems for government employees represent an important and influential segment of the pension market. Read the first page
Key Phrases - Statistically Improbable Phrases (SIPs): (learn more)
navy pension plan, transition from defined benefit, benefit accrual patterns, civilian retirement systems, governmental pension plans, pension revaluation, public plan assets, serving state employees, navy pension fund, portability losses, average final compensation, covering state employees, covering public safety, benefit accrual rates, local pension plans, local retirement systems, salary growth assumption, tactical investing, unreduced retirement benefits, actuarial accrued liability, pension obligation bonds, unfunded accrued liability, local government retirement plans, local pension systems, worst quintile
Key Phrases - Capitalized Phrases (CAPs): (learn more)
United States, New York, New Jersey, South Africa, Retirement Code, Statistics Canada, Northern Ireland, South Carolina, Working Group, Pension Research Council, Civil War, District of Columbia, Public Pension Coordinating Council, Working Paper, Department of Labor, Employee Retirement Income Security Act, Government Finance Officers Association, Benefits Canada, University of Pennsylvania Press, Columbia Bank, Society of Actuaries, Board of Actuaries, General Accounting Office, House of Representatives, Office of the Actuary
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Customer Reviews

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6 of 7 people found the following review helpful:
5.0 out of 5 stars Publisher's Comment, January 4, 2001
By A Customer
What can be done to help public sector pension plans perform more efficiently, and thereby enhance old-age security? In much of the world, public sector pensions are in deep trouble, undermining economic policy and threatening retiree well being. By and large, North American public pension systems have performed better, boasting tremendous assets and offering reasonable retiree benefits. Even here, however, military and civil service systems are not doing as well. This volume takes stock of public pensions in the US and Canada, offering lessons and highlighting challenges these financial institutions will face in the coming decades.

The first Pension Research Council study of public pensions in a quarter-century tackles these topics with an impressive group of international experts from the actuarial, legal, and economic fields. Contributors illustrate how reform options vary across uniformed employees, teachers, legislators and the judiciary, municipal and state employees, and military personnel. This study will be invaluable to taxpayers and their representatives, and those responsible for both public and private sector pensions.

Olivia S. Mitchell is the International Foundation of Employee Benefit Plans Professor of Insurance and Risk Management, and Executive Director of the Pension Research Council at the Wharton School. Edwin Hustead is Senior Vice President in charge of governmental actuarial and benefits consulting at the HayHuggins Washington, D.C. office.

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2 of 2 people found the following review helpful:
5.0 out of 5 stars Public Pensions, June 2, 2004
By A Customer
Public employee pensions are in deep trouble in many countries, undermining economic policy and threatening retiree well-being. What can be done to help them perform more efficiently and enhance old-age security? This volume takes stock of public pension developments in the US and Canada, highlighting challenges these financial institutions face in coming decades. The first Pension Research Council study of public pensions in a quarter-century tackles these topics with an impressive team of international actuarial, legal, and economic experts.
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2 of 2 people found the following review helpful:
5.0 out of 5 stars Pension in the Public Sector, May 7, 2004
By A Customer
This book explores the diversity of governmental pension plans and investigates how these financial institutions must change in years to come. Public employee pensions are in deep trouble in many countries, undermining economic policy and threatening retiree well-being. What can be done to help these programs perform more efficiently and enhance old-age security? This volume takes stock of public pension developments in the U.S. and Canada, highlighting challenges these financial institutions will face in coming decades. The first Pension Research Council study of public pensions in a quarter of a century tackles these topics with an impressive team of international actuarial, legal, and economic experts.
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Most Recent Customer Reviews

5.0 out of 5 stars Sine - qua - non treatise on Pensions
This is a sine qua non treatise for anybody having to deal with the subject of pensions. Edited admirably by actuarial scholars Mitchell, representing academia, and Hustead,... Read more
Published on March 28, 2001 by Manuel J Torres-Anjel

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