Between Scylla and Charybdis: Improving the Cost Effectiveness of Public Pension Retirement Plans
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Wharton Pension Research Council Working Papers
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Economics
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Unless defined benefit pension plans are managed much better and more cost-effectively, they will be replaced by defined contribution plans. Benefit and contribution policies need to be carefully evaluated to make sure that a reasonable level of ongoing contributions, together with investment income, are adequate to fund the defined benefit plan without unpleasant surprises. Unless valuation and contribution conventions change to market-valued economically-based quantities, decision makers will lack the right information with which to make informed policy decisions.
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2008-10-01
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The published version of this Working Paper may be found in the 2009 publication: The Future of Public Employee Retirement Systems (https://pensionresearchcouncil.wharton.upenn.edu/publications/books/the-future-of-public-employee-retirement-systems/).