Examining the State and Local Pension Plan Management
A Brief History of State and Local Public Pension Plans
Public and Private Sector Pension Benefits
State and Local Pension Systems
Growth of Public Pension System Assets
Overview
Pension Benefit Design
Regular Service-Related Benefits
Ancillary Benefits
Deferred Retirement Option Plan (DROP) Program
Adequacy of Public Pension Benefits
Actuarial Valuation and Financial Reporting
Assumptions
Actuarial Cost Methods
Asset Valuation
Financial Reporting and Accounting Standards
Governing Public Pension Plans
ERISA
Public Pension Benefit Protection
Public Pension Plan Administration
Public Pension Plan Oversight
Investment Management
Overall Objective of Investment Management
Portfolio Diversification
Investment Policy
Implementation Strategy
Pension Plan Management and the Operating Budget
Underfunded Pension Plans
Overfunded Pension Plan
Case Studies
Pension Contribution Stabilization Methods
Defined Contribution Pension Plan
Defined Benefit (DB) Plan
Defined Contribution (DC) Plan
Public Sector Defined Contribution Plan Experience
Cash Balance Plan
Defined Contribution Plan Design Issues
Conclusion
Other Postemployment Benefits
Healthcare for Retirees
GASB Statements 43 and 45
Dealing with OPEB Liability
Looking Forward
Managing Pension Liability Growth
Managing Pension Asset Growth
Changing Pension Benefit Design
Conclusion
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