NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Pension Funding in the Public Sector

Olivia S. Mitchell, Robert S. Smith

NBER Working Paper No. 3898
Issued in November 1991
NBER Program(s):   LS   AG

This paper explores the determinants of pension funding in the public sector. We formulate and test several hypotheses about the determinants of public employer pension funding practices, using a new data set describing financial and other characteristics of state, local, and teacher plans. The data show that, on average, public sector pension plans were relatively well-funded during the late 1980s. There were, however, wide variations in funding practices in our sample. Our analysis of these variations suggests that past funding practice tends to be perpetuated, that unionized employers are less likely to fully fund future pension obligations, and that funding is sensitive to fiscal pressure.

download in pdf format
   (537 K)

download in djvu format
   (330 K)

email paper

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 is available as PDF (537 K) or DjVu (330 K) (Download viewer) or via email.

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w3898

Published: Review of Economics and Statistics, May 1994, pp. 278-290.

Users who downloaded this paper also downloaded these:
Mitchell and Hsin w4632 "Public Sector Pension Governance and Performance"
Mitchell and Carr w5271 State and Local Pension Plans
Inman w1727 The Funding Status of Teacher Pensions: An Econometric Approach
Bulow w0654 Early Retirement Pension Benefits
Rauh and Novy-Marx w16453 Policy Options for State Pension Systems and Their Impact on Plan Liabilities
 
Publications
Activities
Meetings
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us