Chapter 3 Balancing Goals for Public Pension Plans
This book provides an in-depth explanation of public pension plan management and the decision-making processes surrounding pension policies within state and local governments in the United States. It addresses the intricate balance between securing retirement benefits for public employees and ensuri...
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| Materiálatiipa: | Online |
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Taylor & Francis
2025
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| Liŋkkat: | https://library.oapen.org/handle/20.500.12657/101725 |
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| _version_ | 1869518499152396288 |
|---|---|
| author | Chen, Gang Hoang, Trang Ebdon, Carol |
| author_browse | Chen, Gang Ebdon, Carol Hoang, Trang |
| author_facet | Chen, Gang Hoang, Trang Ebdon, Carol |
| author_sort | Chen, Gang |
| collection | Directory of Open Access Books |
| description | This book provides an in-depth explanation of public pension plan management and the decision-making processes surrounding pension policies within state and local governments in the United States. It addresses the intricate balance between securing retirement benefits for public employees and ensuring the fiscal sustainability of pension systems and their sponsoring governments. The book begins with an introduction to the purpose and significance of public pension systems, establishing a foundation for understanding key pension decisions. Using a logic model framework, the authors assess how environmental factors, stakeholders, and legal constraints shape decisions in pension management. The book identifies five core goals for public pension management — benefit sufficiency, cost affordability, funding sustainability, asset management efficiency, and governance quality — emphasizing the relationships among these objectives. Detailed chapters cover investment policies, actuarial processes, and the design of benefits and contributions, explaining the financial and actuarial bases necessary for sound pension decisions. Pension reform efforts, including the transition from defined benefit plans to defined contribution, cash-balance, and hybrid plans, are examined in depth, highlighting the reasons for reforms and analyzing their impacts on the employees and employers. The book concludes with ten takeaways for effective pension plan management and addresses emerging challenges such as fiscal pressures, inflation, and changing demographics. With practical implications grounded in research, this book serves as an essential resource for pension board members, pension system administrators, government officials, legislators and their staff, professionals, researchers, and students involved in public pension plan management. |
| format | Online |
| id | doab-20.500.12854ir-159408 |
| institution | Directory of Open Access Books |
| language | eng |
| publishDate | 2025 |
| publishDateRange | 2025 |
| publishDateSort | 2025 |
| publisher | Taylor & Francis |
| publisherStr | Taylor & Francis |
| record_format | ojs |
| spelling | doab-20.500.12854ir-1594082025-06-24T06:26:24Z Chapter 3 Balancing Goals for Public Pension Plans Chen, Gang Hoang, Trang Ebdon, Carol Actuarial process,Investment and risk management,pension reforms,pension benefits,pensionable salary,retirement eligibility,service years,vesting period,government budgeting,net pay,public sector turnover,defined contribution pension,hybrid contribution pension thema EDItEUR::V Health, Relationships and Personal development::VS Self-help, personal development and practical advice::VSB Personal finance thema EDItEUR::J Society and Social Sciences::JP Politics and government::JPP Public administration thema EDItEUR::J Society and Social Sciences::JP Politics and government This book provides an in-depth explanation of public pension plan management and the decision-making processes surrounding pension policies within state and local governments in the United States. It addresses the intricate balance between securing retirement benefits for public employees and ensuring the fiscal sustainability of pension systems and their sponsoring governments. The book begins with an introduction to the purpose and significance of public pension systems, establishing a foundation for understanding key pension decisions. Using a logic model framework, the authors assess how environmental factors, stakeholders, and legal constraints shape decisions in pension management. The book identifies five core goals for public pension management — benefit sufficiency, cost affordability, funding sustainability, asset management efficiency, and governance quality — emphasizing the relationships among these objectives. Detailed chapters cover investment policies, actuarial processes, and the design of benefits and contributions, explaining the financial and actuarial bases necessary for sound pension decisions. Pension reform efforts, including the transition from defined benefit plans to defined contribution, cash-balance, and hybrid plans, are examined in depth, highlighting the reasons for reforms and analyzing their impacts on the employees and employers. The book concludes with ten takeaways for effective pension plan management and addresses emerging challenges such as fiscal pressures, inflation, and changing demographics. With practical implications grounded in research, this book serves as an essential resource for pension board members, pension system administrators, government officials, legislators and their staff, professionals, researchers, and students involved in public pension plan management. 2025-05-14T04:06:17Z 2025-05-14T04:06:17Z 2025-05-13T12:02:17Z 2025 chapter https://library.oapen.org/handle/20.500.12657/101725 9781032671178 9781032671161 https://directory.doabooks.org/handle/20.500.12854/159408 eng open access image/jpeg image/jpeg Attribution-NonCommercial-NoDerivatives 4.0 International Attribution-NonCommercial-NoDerivatives 4.0 International https://library.oapen.org/bitstream/20.500.12657/101725/1/9781032671185_10.4324_9781032671185-3.pdf https://library.oapen.org/bitstream/20.500.12657/101725/1/9781032671185_10.4324_9781032671185-3.pdf Taylor & Francis Routledge 10.4324/9781032671185-3 10.4324/9781032671185-3 fa69b019-f4ee-4979-8d42-c6b6c476b5f0 Managing Public Pension Plans University of Nebraska Omaha 05ca67a1-18d5-46b9-9d99-47ce8b214da2 9781032671178 9781032671161 Routledge 19 open access |
| spellingShingle | Actuarial process,Investment and risk management,pension reforms,pension benefits,pensionable salary,retirement eligibility,service years,vesting period,government budgeting,net pay,public sector turnover,defined contribution pension,hybrid contribution pension thema EDItEUR::V Health, Relationships and Personal development::VS Self-help, personal development and practical advice::VSB Personal finance thema EDItEUR::J Society and Social Sciences::JP Politics and government::JPP Public administration thema EDItEUR::J Society and Social Sciences::JP Politics and government Chen, Gang Hoang, Trang Ebdon, Carol Chapter 3 Balancing Goals for Public Pension Plans |
| title | Chapter 3 Balancing Goals for Public Pension Plans |
| title_full | Chapter 3 Balancing Goals for Public Pension Plans |
| title_fullStr | Chapter 3 Balancing Goals for Public Pension Plans |
| title_full_unstemmed | Chapter 3 Balancing Goals for Public Pension Plans |
| title_short | Chapter 3 Balancing Goals for Public Pension Plans |
| title_sort | chapter 3 balancing goals for public pension plans |
| topic | Actuarial process,Investment and risk management,pension reforms,pension benefits,pensionable salary,retirement eligibility,service years,vesting period,government budgeting,net pay,public sector turnover,defined contribution pension,hybrid contribution pension thema EDItEUR::V Health, Relationships and Personal development::VS Self-help, personal development and practical advice::VSB Personal finance thema EDItEUR::J Society and Social Sciences::JP Politics and government::JPP Public administration thema EDItEUR::J Society and Social Sciences::JP Politics and government |
| topic_facet | Actuarial process,Investment and risk management,pension reforms,pension benefits,pensionable salary,retirement eligibility,service years,vesting period,government budgeting,net pay,public sector turnover,defined contribution pension,hybrid contribution pension thema EDItEUR::V Health, Relationships and Personal development::VS Self-help, personal development and practical advice::VSB Personal finance thema EDItEUR::J Society and Social Sciences::JP Politics and government::JPP Public administration thema EDItEUR::J Society and Social Sciences::JP Politics and government |
| url | https://library.oapen.org/handle/20.500.12657/101725 |
| work_keys_str_mv | AT chengang chapter3balancinggoalsforpublicpensionplans AT hoangtrang chapter3balancinggoalsforpublicpensionplans AT ebdoncarol chapter3balancinggoalsforpublicpensionplans |