LEADER 05095nam 22004573 450 001 9911001776203321 005 20250513080328.0 010 $a9781040358597$b(electronic bk.) 010 $z9781032671161 035 $a(MiAaPQ)EBC31911368 035 $a(Au-PeEL)EBL31911368 035 $a(CKB)38751832400041 035 $a(OCoLC)1519994144 035 $a(EXLCZ)9938751832400041 100 $a20250513d2025 uy 0 101 0 $aeng 135 $aurcnu|||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aManaging Public Pension Plans $eDecisions, Challenges, and Reforms 205 $a1st ed. 210 1$aOxford :$cTaylor & Francis Group,$d2025. 210 4$dİ2025. 215 $a1 online resource (227 pages) 225 1 $aRoutledge Public Budgeting and Finance Series 311 08$aPrint version: Chen, Gang Managing Public Pension Plans Oxford : Taylor & Francis Group,c2025 9781032671161 327 $aCover -- Half Title -- Series Page -- Title Page -- Copyright Page -- Dedication -- Contents -- List of Figures -- List of Tables -- Acknowledgments -- 1. Introduction to Public Pension Management -- Introduction -- Overview of retirement income in the United States -- Public pension management -- A logic model - the "black box" of public pension management -- Organization of this book -- References -- 2. A Logic Model Framework for Public Pension Management -- Introduction -- Existing framework and our model -- Goals and outcomes -- Inputs -- Outputs and decisions -- Summary -- References -- 3. Balancing Goals for Public Pension Plans -- Overview -- Sufficiency of pension benefits -- Affordability of pension costs -- Sustainability of pension funding -- Efficiency of asset management -- Good governance of pension plans -- Balancing the goals in pension plans -- Mini case: overview of NYCTRS -- Summary -- References -- 4. How Environment, Stakeholders, and Constraints Shape Public Pension Decisions -- Introduction -- Environment -- Stakeholders -- Constraints -- Summary -- References -- 5. Investment Policies and Strategies for Public Pension Funds -- Introduction -- Investment policy -- Asset classes and allocation strategy -- Investment risk -- Risk management -- Investment performance -- Divestments, ETIs, and ESG investments -- A simulation of pension fund investment -- Summary -- References -- 6. Actuarial Processes and Assumptions in Public Pension Valuations -- Introduction -- The actuarial process: an overview -- A summary of actuarial methods and assumptions used by U.S. public plans -- A simulation of liabilities, assets, and required contributions -- Summary -- Glossary -- References -- 7. Understanding Benefits Designs and Contributions Policies for Public Pension Plans -- Introduction -- Pension benefit decisions. 327 $aPension benefit formula -- Eligibility rules for pension benefits -- Adequacy of pension benefits and budget considerations -- Pension contributions -- Summary -- References -- 8. Pathways to Public Pension Reforms -- Current challenges and the path to reform -- Internal factors -- External factors -- Decision-makers and stakeholders -- Legal constraints and the role of the judiciary -- Pension reforms -- Summary -- Mini case - state pension reforms in Illinois -- Mini case - pension reforms at the local level - the case of the City of Omaha Police and Fire Retirement System (COPFRS) -- References -- Appendix A. Frequency of Pension Reforms by Types (2005-2023) -- 9. Defined Contribution, Cash-Balance, and Hybrid Plans in the Public Sector -- Introduction -- Features of DC, cash-balance, and hybrid plans -- Advantages and disadvantages -- Current status of DC plans in the public sector -- Current status of risk-sharing, cash-balance, and hybrid plans in the public sector -- Contingent employee contribution rates -- Contingent cost-of-living adjustments -- Cash-balance plans -- DB-DC hybrid plans -- Challenges in the transition from DB to other plans -- References -- 10. Assessing the Impact and Trade-Offs of Public Pension Reforms -- Introduction -- Sufficiency of pension benefits -- Affordability of pension costs -- Sustainability of pension funding -- Efficiency of asset management -- Good governance of pension plans -- Conclusion -- References -- 11. Key Lessons and Emerging Issues in Public Pension Management -- Introduction -- Key takeaways -- Emerging issues in the post-COVID era -- Looking ahead -- References -- Index. 330 $aThis book provides an in-depth explanation of public pension plan management and the decision-making processes surrounding pension policies within state and local governments in the United States. 410 0$aRoutledge Public Budgeting and Finance Series 676 $a331.252068 700 $aChen$b Gang$0428353 701 $aHoang$b Trang$01819508 701 $aEbdon$b Carol$01819509 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 912 $a9911001776203321 996 $aManaging Public Pension Plans$94379836 997 $aUNINA