RT Journal Article
SR Electronic
T1 The Public Pension Quadrilemma: The Intersection of Investment
Risk and Contribution Risk
JF The Journal of Retirement
FD Institutional Investor Journals
SP 115
OP 127
DO 10.3905/jor.2014.2.1.115
VO 2
IS 1
A1 Andrew G. Biggs
YR 2014
UL https://pm-research.com/content/2/1/115.abstract
AB Pension plans for state and local government employees seek to achieve four main financing goals: maintain sufficient funds to pay benefits; keep contribution costs low for sponsoring governments and employees; stabilize contributions from year to year, to assist in budgeting; and stabilize costs from generation to generation, a precept known as intergenerational equity. Pension plan stakeholders generally believe that as an article of faith, a plan can satisfy these goals with prudent management.TOPICS: Pension funds, retirement