NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

State and Local Pension Plans

Olivia S. Mitchell, Roderick Carr

NBER Working Paper No. 5271
Issued in September 1995
NBER Program(s):   AG   LS

This paper examines the role and function of pension plans covering state and local government employees in the United States. Covering about 16 million employees (including teachers, fire fighters, police, members of the judiciary, and many other state and local employees), these plans manage a substantial stock of financial assets -- close to $1 trillion -- and receive annual contributions from employees and government revenues totaling about $56 billion. Using data gathered from a variety of different sources, some of which have only recently become available, we describe the benefits, financing, and management of these plans, and identify some of the prominent challenges facing these pension plans in the next decade.

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Document Object Identifier (DOI): 10.3386/w5271

Published: In Handbook of Employee Benefits. Ed. by J. Rosenbloom. Chicago;ZL: Irwin,1996.

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