Challenges to Public Pension Systems

dc.contributor.advisorBoudreaux, Donald
dc.contributor.authorBrown, Caleb O
dc.creatorBrown, Caleb O
dc.date2014-05-02
dc.date.accessioned2014-10-07T14:47:33Z
dc.date.available2014-10-07T14:47:33Z
dc.date.issued2014-10-07
dc.description.abstractThe poor funding status and liability measurement of state and local public pensions could be the defining issue for state-level fiscal policy for the next several decades. These chapters attempt to address several problems associated with pension management and measurement. Chapter One details many aspects of Kentucky Retirement System that have contributed to its funding and management woes. Chapter Two details the purpose of discounting within pension funds and how an alternative discount rate would increase stated liabilities in one of Kentucky’s pension plans. Chapter Three details the transfer of market-related risks from pensioners to taxpayers and discusses the potential impact of a large and ongoing opportunity for arbitrage within most pension systems.
dc.identifier.urihttps://hdl.handle.net/1920/9010
dc.language.isoen
dc.subjectPublic pensions
dc.subjectPublic finance
dc.subjectState pensions
dc.subjectKentucky Retirement Systems
dc.titleChallenges to Public Pension Systems
dc.typeThesis
thesis.degree.disciplineEconomics
thesis.degree.grantorGeorge Mason University
thesis.degree.levelMaster's
thesis.degree.nameMaster of Arts in Economics

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