The Impact of the Liberalization of Benefits Upon the Accruing Costs of Public Employees Retirement Systems
Author: Arlene Vollen Karon
Publisher:
Published: 1983
Total Pages: 758
ISBN-13:
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Author: Arlene Vollen Karon
Publisher:
Published: 1983
Total Pages: 758
ISBN-13:
DOWNLOAD EBOOKAuthor: California. Public Employees' Retirement System. Board of Administration
Publisher:
Published: 1985
Total Pages:
ISBN-13:
DOWNLOAD EBOOKAuthor: Olivia S. Mitchell
Publisher: Oxford University Press
Published: 2009-08-13
Total Pages: 365
ISBN-13: 0199573344
DOWNLOAD EBOOKPublic pensions are often the subject of 'pension envy', as their benefits might seem more generous and contributions lower than those in the private sector. This book shows that such judgments are often inaccurate, and reflects a vigorous debate amongst academics and professionals as they seek to define a new future for public retirement systems.
Author: John Chalmers
Publisher:
Published: 2012
Total Pages: 0
ISBN-13:
DOWNLOAD EBOOKOregon's Public Employees Retirement System (PERS) is a rich setting in which to study the effect of pension design on employer costs and employee retirement-timing decisions. PERS pays retirees the maximum benefit calculated using three formulas that can be characterized as defined benefit (DB), defined contribution (DC), and a combination of DB and DC. From the employer's perspective, we show that this "maximum benefit" calculation is costly. Average ex post retirement benefits are 54% higher than they if had been calculated using only the DB formula. Monte Carlo simulations verify that the higher cost could have been predicted at the start of our sample period. From the employee's perspective, we show that plan design distorts the retirement-timing decision: employees receiving DC benefits are significantly more likely to retire before the normal retirement age than employees receiving DB benefits. Exploiting two sources of exogenous variation in the level of the DC benefit, we show that employees respond to within-year variation in their retirement incentives and, consistent with peer effects, that they respond more strongly to these incentives when more of their coworkers face similar incentives. Finally, consistent with the emerging literature on financial mistakes by households, we show that a small but significant fraction of retirees would benefit from shifting their retirements by as little as one month.
Author:
Publisher:
Published: 2008
Total Pages: 92
ISBN-13:
DOWNLOAD EBOOKExamines the financial status of the various public employee retirement systems in Illinois.
Author: Thomas P. Bleakney
Publisher: Edward Elgar Publishing
Published: 1972-01-29
Total Pages: 228
ISBN-13: 9780256014075
DOWNLOAD EBOOKFrom the Pension Research Council of the Wharton School
Author: United States. Congress. Senate. Committee on Governmental Affairs. Subcommittee on Civil Service and General Services
Publisher:
Published: 1980
Total Pages: 130
ISBN-13:
DOWNLOAD EBOOKAuthor: United States. Congress. Senate. Committee on Post Office and Civil Service. Subcommittee on Retirement
Publisher:
Published: 1962
Total Pages: 150
ISBN-13:
DOWNLOAD EBOOKConsiders (87) S. 1337, (87) S. 3164, (87) S. 2468, (87) S. 2937, (87) S. 3087.
Author: United States. Congress. Senate. Post Office & Civil Service
Publisher:
Published: 1962
Total Pages: 142
ISBN-13:
DOWNLOAD EBOOKAuthor:
Publisher:
Published: 1983
Total Pages: 76
ISBN-13:
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