OPTIMAL FUNDING OF STATE EMPLOYEE PENSION SYSTEMS.

From: Journal of Risk and Insurance | Date: September 1, 1999| Author: | Copyright information

ABSTRACT

Public pension funds are a significant, and rapidly growing, financial force in the United States. However, the lack of a consensus on an appropriate funding level is apparent from the wide diversity of funding levels currently maintained. This research proposes a financial standard for public pension plan funding that depends on the current pension obligation and the respective growth rates of pension expenses and the tax base, and then compares the optimal funding levels based on this standard with actual funding levels by state. Based on this approach, funding ...

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