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The Behavioral Justification for Public Pensions


CalPERS: California Public Employees' Retirement System

CalPERS builds retirement and health security for California state, school, and public agency members. We manage the largest public pension fund in the US.

Financial Planning for Retirement: The Moderating Role of ...

... behavior of public university employees based on the CWO model for retirement. ... retirement is a reason to plan and save for retirement.

Behavioral Economics and the Retirement Savings Crisis

We simply have to change the choice architecture of retirement plans by utilizing the findings of behavioral economics research and make such plans available ...

Pension Funding in the Public Sector - jstor

Pension contributions are invested in the capital market, and at retirement the pensioner receives benefits that depend on the outcome of this contribution and ...

Salaries, Pensions, and the Retention of Public-Sector Employees

Even if Act 10 was indeed the reason why so many teachers retired in 2011, it remains possible that there were other aspects of the reform (in ...

History of Public Pensions By: Raymond T. Edmondson, CPPT A ...

When examined closely there are at least 10 reasons why DB plans offer the best value for the state, its employees and taxpayers. 1. Claims that DB plans are ...

Toward an economic reformulation of public pension funding

Unfortunately, existing actuarial funding policy has resulted in contributions that have fallen short of the amount needed to cover promised benefit payments ...

Unfunded Pension Liabilities: The Growing Cost of Retirement

The stability and participation rates of defined-benefit pension plans vary over time, making investment returns and available assets a cause ...

How Public Pension Plans Have Shaped Private Equity

For these and other reasons, the private equity industry cannot simply be viewed as a pure private market setting where all participants are ...

Pension Design and Structure New Lessons from Behavioral Finance

als to permit seniors to choose whether they want a public versus a privately ... For this reason, retirees seeking protection against the destructive impact ...

“BUT THE PENSION FUND WAS JUST SITTING THERE…” THE ...

Most teachers' pensions are included in plans that cover other public employees. In thirty-three states, teacher contributions go into a state fund; in the ...

Pension Plan Risks: Threats Facing Public Pensions - Britannica

Pension plans were the norm until changes in federal law following the passage of the Employee Retirement Income Security Act (ERISA) of 1974.

examining the experiences of public pension plans since the great ...

Public pension plans have made a number of adjustments to their actuarial assumptions and investment allocations since the Great Recession to adapt to ...

Where Pension Incentive Pay Makes Sense — and Doesn't

Long-term financial incentives for investment success are commonplace in the private sector, but tricky to design in public retirement plans.

REPORT OF THE BLUE RIBBON PANEL ON PUBLIC PENSION ...

The funding of U.S. public sector pension plans has received heightened attention in recent years as states and local government entities have responded to the ...

Governance of Public Pension Funds: Lessons from Corporate ...

When control is exercised by small minority shareholders (manage- ment) the same presumption cannot safely be defended, for the reason that minority ...

Public pension plan funding policy: Effectiveness of amortization ...

One of the most important decisions made for public sector pension plans is adopting a funding policy that balances the needs of all ...

How can we incentivise pension saving? A behavioural perspective

Recent DWP research (Kotecha et al. 2010) found that few people were confident about making predictions of their income in retirement. The main reason ...

Pension - Wikipedia

Government can play with four different channels to finance the retirement pension. · Retirement pensions turn out to be considerable amounts of money. · This ...

Unintended Effects of Benefit‑Tier‑Related Pension Reforms - Segal

Sponsors of public employee retirement plans: Benefit reforms adopted to manage the cost of public pensions are now seeing calls for their ...