A value-based assessment of alternative US state pension plans
| Autor: | Roel Beetsma, Eduard Ponds, Z. Lekniute |
|---|---|
| Přispěvatelé: | Faculteit Economie en Bedrijfskunde, Macro & International Economics (ASE, FEB), Research Group: Economics, Department of Economics |
| Jazyk: | angličtina |
| Rok vydání: | 2018 |
| Předmět: |
Organizational Behavior and Human Resource Management
Economics and Econometrics Pension 050208 finance Actuarial science Strategy and Management Mechanical Engineering media_common.quotation_subject 05 social sciences Metals and Alloys Investment (macroeconomics) Pension fund Industrial and Manufacturing Engineering Continuation State (polity) 0502 economics and business Value (economics) Economics 050207 economics Baseline (configuration management) Finance Indexation media_common |
| Zdroj: | Journal of Pension Economics and Finance, 17(2), 129-169. Cambridge University Press Journal of Pension Economics and Finance, 17(2), 129-169. CAMBRIDGE UNIV PRESS |
| ISSN: | 1474-7472 |
| Popis: | We explore how the contract values of the various stakeholders of a typical US state civil servants pension fund are affected under the continuation of current policies and under alternative policies, such as changes in contribution, indexation and investment allocation policies. We find that all participant cohorts derive a substantial net benefit from the current pension contract, while all tax-paying cohorts make substantial contributions. The shift in value from tax payers to participants can be reduced substantially by having the latter make larger contributions or making indexation less generous. Under our baseline calibration, and continuation of existing policies, the chances are high that the fund's assets get depleted in the coming decades. |
| Databáze: | OpenAIRE |
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