EBOOK Future of Public Employee Retirement Systems -

EBOOK Future of Public Employee Retirement Systems
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Wydawnictwo: Oxford University Press
ISBN: 9780191610257
EAN: 5EB300DBEB
Format: 0,0 x 0,0 x 0,0
Oprawa: ...
Stron: 368
Data wydania: 2009
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People covered by public pensions are often the subject of 'pension envy:' that        is, their benefits might seem more generous and their contributions lower than those        offered by the private sector. Yet this book points out that such judgments are        often inaccurate, since civil servants hold jobs with few counterparts in private        industry, such as firefighters, police, judges, and teachers. Often these are        riskier, dirtier, and demand more loyalty and discretion than would be required ofa        more mobile labor force in the private sector. The debate challenges traditional        ideas about how the public employee labor contract is structured and raises        questions about how such employees are attracted to the public sector, retained and        motivated on the job, and retired, via an entirecompensation package of wages and        benefits. Authors explore aspects of these schemes, addressing the cost and        valuation debate, along with the political economy of how public pension asset pools        are perceived and managed, an increasingly important topic in times of global        financial turmoil. The discussion also explores ways that public pensions can be        strengthened in the US, Japan, Canada, and Germany.The volume captures a vigorous        debate currently underway by academics, financial experts, regulators, and plan        sponsors, all seeking to define a new future for public retirement systems. It will        be of substantial interest to a wide range of readers, since public sector employees        and their representatives will naturally find the comparisons and arguments over        valuation of keen interest. Public pension administrators and policymakers seeking        an explanation of what makes these plans so costlywill gain a new understanding of        how the arguments stack up. Private sector employers and plan sponsors can learn        much from efforts to reform these retirement systems in states and countries around        the world. Finally, investors and the taxpaying public more generally may be at risk        to cover theselong-term promises, so it behoves them to pay close attention to the        financing and investment practices of these plans, along with their valuation.This        volume represents an invaluable addition to the Pension Research Council / Oxford        University Press series as it includes actuarial, economic, and financial        perspectives making it useful for academics, retirement plan administrators, and        public employees wishing to understand the challenges facing public pensions.

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