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- Title
The False Promise of Public Pensions.
- Authors
HESS, FREDERICK M.; SQUIRE, JULIET P.
- Abstract
The article presents an analysis of the problems associated with public pensions. A 2008 report indicating that U.S. state pension plans were underfunded by hundreds of billions of dollars is noted. State legislation regarding pensions for employees such as teachers is discussed. It is noted that state legislators are not often disposed to sacrifice present interests for the sake of future benefits, so irresponsible oversight of pension funds is common. Many arrangements are based on outmoded paradigms of teaching as a profession, which do not work well with a more mobile labor force. The impact of collective bargaining arrangements on state fiscal policies is also addressed.
- Subjects
UNITED States; STATE government personnel's pensions; COLLECTIVE bargaining by state government employees; UNFUNDED mandates; PENSION laws; U.S. states politics &; government
- Publication
Policy Review, 2009, Issue 158, p75
- ISSN
0146-5945
- Publication type
Article