State and Local Pension Plans / Olivia S. Mitchell, Roderick Carr.

Format:

Book

Author/Creator:

Mitchell, Olivia S.

Contributor:

National Bureau of Economic Research.

Carr, Roderick.

Series:

Working Paper Series (National Bureau of Economic Research) no. w5271.

NBER working paper series no. w5271

Language:

English

Subjects (All):

Local officials and employees--Pensions--United States.

Local officials and employees.

State governments--Officials and employees--Pensions.

State governments.

Pensions.

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1995.

Cambridge, Massachusetts : National Bureau of Economic Research, 1995.

Summary:

This paper examines the role and function of pension plans covering state and local government employees in the United States. Covering about 16 million employees (including teachers, fire fighters, police, members of the judiciary, and many other state and local employees), these plans manage a substantial stock of financial assets -- close to $1 trillion -- and receive annual contributions from employees and government revenues totaling about $56 billion. Using data gathered from a variety of different sources, some of which have only recently become available, we describe the benefits, financing, and management of these plans, and identify some of the prominent challenges facing these pension plans in the next decade.

Notes:

Print version record

September 1995.