Ping Lung Hsin
No contact information is available for this researcher.
Institutional Affiliation: Cornell University
NBER Working Papers and Publications
|January 1994||"Public Sector Pension Governance and Performance"|
with : w4632
This paper investigates the determinants of public sector pension plan investment and funding behavior. Its goal is to draw lessons which may be used to improve the design and governance of public pensions. Plan performance is related to characteristics of the pension systems' governance structure and authority, using a new survey of U.S. state and local public pension plan governance practices and performance outcomes. The study suggests that most large public pension systems funded their plans satisfactorily in 1990, but some did not. Better public pension funding was associated with a pension system having in-house actuaries and when pension Board members were required to carry liability insurance. In contrast, public pension funding was lower when states experienced fiscal stress, ...
Published: in The Economics of Pension; Principles, Policies, and International Exper-ience.ed. Salvador Valdes Prieto. Cambridge: Cambridge University Press, 1997.