Download or read book The Comparability of Pension and Other Post retirement Benefits Between Public Sector and Private Sector Employees written by and published by . This book was released on 2000 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Comparison of Federal and Private Sector Pay and Benefits written by United States. General Accounting Office and published by . This book was released on 1985 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pursuant to a congressional request, GAO provided current information on private sector and federal white-collar employee compensation packages. By law, federal employees' salaries are set at a level equitable and comparable with similar levels of work in the private sector, unless the President proposes alternative federal pay rates. There is no such requirement for benefits comparability. GAO analyzed several pay and benefits comparability studies conducted by private and federal organizations, but did not independently validate the data contained in the studies. GAO noted that an independent study found that: (1) as of 1984, federal employees' total compensation averaged 7.2 percent less than that for private sector employees; and (2) in 1985, the difference increased to 9 percent or more because the federal pay increase for 1985 was limited to less than the average pay increase in the private sector. GAO found that: (1) frequent presidential use of alternative pay rates caused pay for federal employees to lag significantly behind that for private sector employees; (2) an 18.28 percent federal pay increase would be necessary to achieve federal pay comparability in 1985; (3) the federal retirement system is better than the average private sector system because it is worth more as a percentage of the average employee's pay, and federal retirement benefits are adjusted annually to offset consumer price increases; (4) private studies indicated that private sector employers generally pay a higher share of employee health insurance premiums than does the government; (5) private sector employee life insurance programs provide more basic coverage than the federal employee program, usually at no cost to the employee; (6) while federal employees generally receive one less holiday than private sector employees, this is offset by more generous federal annual leave benefits; and (7) federal sick leave lags behind the average private sector illness and disability income plan by 0.7 percent of pay.
Download or read book The Future of Public Employee Retirement Systems written by Gary Anderson and published by OUP Oxford. This book was released on 2009-08-13 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt: People covered by public pensions are often the subject of 'pension envy:' that is, their benefits might seem more generous and their contributions lower than those offered by the private sector. Yet this book points out that such judgments are often inaccurate, since civil servants hold jobs with few counterparts in private industry, such as firefighters, police, judges, and teachers. Often these are riskier, dirtier, and demand more loyalty and discretion than would be required of a more mobile labor force in the private sector. The debate challenges traditional ideas about how the public employee labor contract is structured and raises questions about how such employees are attracted to the public sector, retained and motivated on the job, and retired, via an entire compensation package of wages and benefits. Authors explore aspects of these schemes, addressing the cost and valuation debate, along with the political economy of how public pension asset pools are perceived and managed, an increasingly important topic in times of global financial turmoil. The discussion also explores ways that public pensions can be strengthened in the US, Japan, Canada, and Germany. The volume captures a vigorous debate currently underway by academics, financial experts, regulators, and plan sponsors, all seeking to define a new future for public retirement systems. It will be of substantial interest to a wide range of readers, since public sector employees and their representatives will naturally find the comparisons and arguments over valuation of keen interest. Public pension administrators and policymakers seeking an explanation of what makes these plans so costly will gain a new understanding of how the arguments stack up. Private sector employers and plan sponsors can learn much from efforts to reform these retirement systems in states and countries around the world. Finally, investors and the taxpaying public more generally may be at risk to cover these long-term promises, so it behoves them to pay close attention to the financing and investment practices of these plans, along with their valuation. This volume represents an invaluable addition to the Pension Research Council / Oxford University Press series as it includes actuarial, economic, and financial perspectives making it useful for academics, retirement plan administrators, and public employees wishing to understand the challenges facing public pensions.
Download or read book Study of Total Compensation in the Federal State and Private Sectors written by and published by . This book was released on 1984 with total page 228 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retirement Equity and Public Sector Workers written by United States. Congress. House. Select Committee on Aging. Subcommittee on Retirement Income and Employment and published by . This book was released on 1992 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Role of the State in Pension Provision Employer Regulator Provider written by Gerard Hughes and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 162 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book deals with the role of the State in pension provision as an employer, regulator and provider. Part I deals with problems and reforms of public sector pension systems in OECD countries. The countries covered are Denmark, Finland, Germany, The Netherlands, Norway, and the USA. Part II considers the regulation of occupational pension schemes in The Netherlands and the United Kingdom, and whether there is still a role for the State in providing earnings-related pensions in the United Kingdom. Part III presents demographic projections for the next half-century, using Ireland as an example, looks at some of the options which have been used in Finland, and proposed in the United States, to cope with population ageing, and examines issues of intergenerational equity which are posed by these options. All the chapters deal with recent reforms. The chapters are written by acknowledged experts in their field who are independent of both the pensions industry and Government. Hence the chapters provide an informed critical account of current developments in relation to the reform of occupational pension schemes in the public sector and of the debate about the State's role as a regulator of private pension schemes and a provider of pensions based on the social insurance principal. The book is important as a source of information about pension schemes in OECD countries. It shows that there is not a unique model of occupational pension provision for public sector employees and that the pension benefits which are provided in different countries are quite variable. It also shows that public sector occupational pension systems have changed and are in the process of considerable further change in a number of OECD countries.
Download or read book Supplemental Civil Service Retirement Plan written by United States. Congress. House. Committee on Post Office and Civil Service and published by . This book was released on 1985 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book An overview of plans and comparisons written by Bill Horne Associates and published by . This book was released on 1978 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pensions for Public Employees written by Alicia Haydock Munnell and published by . This book was released on 1979 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pensions in the Public Sector written by Olivia S. Mitchell and published by University of Pennsylvania Press. This book was released on 2001 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Pension Research Council of the Wharton School, this book explores the diversity of governmental pension plans and investigates how these financial institutions must change in years to come.
Download or read book Private Pension and Retiree Health Benefits written by United States. Congress. House. Select Committee on Aging. Subcommittee on Retirement Income and Employment and published by . This book was released on 1990 with total page 260 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Supplemental Retirement Plan for Federal Officers and Employees written by United States. Congress. House. Committee on Post Office and Civil Service and published by . This book was released on 1984 with total page 384 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Private Pension and Retiree Health Benefits written by United States. Congress. House. Select Committee on Aging. Subcommittee on Retirement Income and Employment and published by . This book was released on 1990 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book State and Local Government Retiree Benefits written by USA Government Accountability Office and published by Nova Science Publishers. This book was released on 2008 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past half-century, the number of state and local government workers has grown significantly. In 2006, this sector accounted for about 12 percent of the nation's workforce. Since 1996, accounting standards calling for state and local governments to report their liabilities for future pension costs have been in place, but standards calling for similar treatment of the future costs of retiree health benefits have only recently been issued. It is unclear as yet, what actions state and local governments may take once the future costs of these benefits are known. However, future decisions about the appropriate levels of benefits for retirees will likely occur in a broader context of persistent fiscal challenges that state and local governments will face in the next decade. Hence, concerns have been raised about the public sector's capacity to meet the rising cost of providing its retirees with promised pension and other post-employment benefits, such as retiree health care. State and local retiree benefits are not subject, for the most part, to federal laws governing private sector retiree benefits. Nevertheless, there is a federal interest in ensuring that all Americans have a secure retirement, an interest that is reflected in preferential tax treatment for contributions and investment earnings associated with qualified pension plans in both the public and the private sectors. This is an excerpted and indexed edition.
Download or read book Using Public Pensions to Balance State and Local Budgets written by United States. Congress. House. Select Committee on Aging and published by . This book was released on 1992 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Civil Service Reform III written by United States. Congress. House. Committee on Government Reform and Oversight. Subcommittee on Civil Service and published by . This book was released on 1997 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Pay and Pensions for Federal Workers written by Robert W. Hartman and published by Washington, D.C. : Brookings Institution. This book was released on 1983 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: Hartman believes that holding down Federal pay and benefits not only fails to deal with the real problems of the federal compensation system but also could lead to a serious decline in the quality of the Federal work force. He explains the present systems, pointing out the problems and inequities they have created. Hartman proposes ways to reform both the Federal pay and retirement systems so that they will more nearly resemble their private sector counterparts and be less costly to the taxpayer in the long run. He argues that only by taking the long-term view and making a sharp break with past practice can policymakers hope to solve the basic problems. ISBN 0-8157-3496-4 : $18.95; ISBN 0-8157-3495-6 (pbk.) : $7.95.
