The economics of state and local public pensions
By: Jeffrey R. Brown, Robert Clark, Joshua Rauh
Contributors: Clark, Robert; Rauh, Joshua; National Bureau of Economic Research
Series: NBER working paper series -- working paper 16792; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 16792.
Publisher: National Bureau of Economic Research
Published: 2011
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "The NBER Bulletin on Aging and Health provides summaries of publications like this.  You can sign up to receive the NBER Bulletin on Aging and Health by email.  This paper provides an overview of an economics-based perspective on the financial aspects of state and local public pensions in the U.S.  Drawing on the research commissioned for an NBER research program on this topic, we discuss the large degree to which public pension liabilities exceed the assets set aside to fund them.  We summarize issues related to the optimality of pre-funding, portfolio allocation, the discounting of liabilities, as well as how plans operate in practice.  We also lay out an agenda for future research related to financial aspects of public pensions, retiree health plans for public employees, as well as issues related to plan design and labor market outcomes"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 5/17/2011.

Includes bibliographical references.

Also available in print.

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Mode of access: World Wide Web.