Title
Between Scylla and Charybdis: Improving the Cost Effectiveness of Public Pension Retirement Plans
Document Type
Working Paper
Date of this Version
10-1-2008
Abstract
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.
Working Paper Number
WP2008-25
Copyright/Permission Statement
© 2008 Pension Research Council of the Wharton School of the University of Pennsylvania. All rights reserved.
Acknowledgements
Opinions and errors are solely those of the author and not of the institutions with whom the author is affiliated.
Date Posted: 09 August 2019
Comments
The published version of this Working Paper may be found in the 2009 publication: The Future of Public Employee Retirement Systems.