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Public sector defined benefit pension plans are based on final earnings. As such, these plans are back-loaded; those with long careers receive substantial benefits and those who leave early receive little. The analysis consists of three parts. The first section discusses the design of state and...
Persistent link: https://www.econbiz.de/10012460212
Working consistently through one's fifties and early sixties is key to attaining retirement security. However, workers also need access to retirement plans - so they can continue to accumulate resources - and health insurance - so they can avoid withdrawing assets in the event of a health shock....
Persistent link: https://www.econbiz.de/10012480324
Public pension funding has recently become a front-burner policy issue in the wake of the financial crisis and given the pending retirement of large numbers of baby boomers. This paper examines the current funding of state and local pensions using a sample of 126 plans, estimating an aggregate...
Persistent link: https://www.econbiz.de/10012462214