Managing public pension plans : decisions, challenges, and reforms / Gang Chen, Trang Hoang and Carol Ebdon.
| Author/creator | Chen, Gang author. |
| Other author | Hoang, Trang (Public Administration), author. |
| Other author | Ebdon, Carol, author. |
| Format | Book |
| Edition | First edition. |
| Publication | New York, NY : Routledge, 2025. |
| Copyright Date | ©2025 |
| Description | xvi, 220 pages : illustrations ; 23 cm. |
| Subjects |
| Variant title | Decisions, challenges, and reforms |
| Physical medium | illustrations. |
| Series | Routledge Public Budgeting and Finance |
| Contents | A logic model framework for public pension management -- Balancing goals for public pension plans -- How environments, stakeholders, and constraints shape public pension decisions -- Investment policies and strategies for public pension funds -- Actuarial processes and assumptions in public pension valuations -- Understanding benefits designs and contributions policies for public pension plans -- Pathways to public pension reforms -- Defined contribution, cash-balance, and hybrid plans in the public sector -- Assessing the impact and trade-offs of public pension reforms -- Key lessons and emerging issues in public pension management. |
| Abstract | "This book provides an in-depth explanation of public pension plan management and the decision-making processes surrounding pension policies within state and local governments in the United States. It addresses the intricate balance between securing retirement benefits for public employees and ensuring the fiscal sustainability of pension systems and their sponsoring governments. The book begins with an introduction to the purpose and significance of public pension systems, establishing a foundation for understanding key pension decisions. Using a logic model framework, the authors assess how environmental factors, stakeholders, and legal constraints shape decisions in pension management. The book identifies five core goals for public pension management-benefit sufficiency, cost affordability, funding sustainability, asset management efficiency, and governance quality-emphasizing the interdependencies among these objectives. Detailed chapters cover investment policies, actuarial processes, and the design of benefits and contributions, explaining the financial and actuarial foundations necessary for sound pension decisions. Pension reform efforts, including the transition from defined benefit plans to defined contribution, cash balance and hybrid plans, are examined in depth, highlighting the reasons for reforms and analyzing their impacts on the employees and employers. The book concludes with ten takeaways for effective pension plan management and addresses emerging challenges such as fiscal pressures, inflation, and changing demographics. With practical implications grounded in research, this book serves as an essential resource for pension board members, pension system administrators, government officials, legislators and their staff, professionals, researchers, and students involved in public pension plan management"-- Provided by publisher. |
| Bibliography note | Includes bibliographical references and index. |
| LCCN | 2024060806 |
| ISBN | 9781032671161 |
| ISBN | 1032671165 pbk |
| ISBN | 9781032671178 hbk |
| ISBN | 1032671173 hbk |
| ISBN | ebk |
Availability
| Library | Location | Call Number | Status | Item Actions |
|---|---|---|---|---|
| Joyner | Order on Demand Title | Order On Demand | ✔ Available | Click to order this title |