The Status of U.S. Public Pension Plans: A Review With Policy Considerations

Document Type

Article

Publication Date

1-1-2005

Abstract

The pension plans of U.S. state, county, and municipal employees play a large role in capital markets and corporate governance debates. Recent studies have investigated the governance, management, and performance of these plans, as well as their role in corporate governance. Informed by the findings of its integrative literature review, the article outlines several key considerations regarding the plans, including ones regarding the bearing of investment risk, public and private plan differentials, the presence and responsibilities of boards of trustees, and investment policy. The outlined considerations favor an appropriate balance between political and economic controls of the plans and recognize that the activism of public pension plans as institutional investors might improve the corporate governance system for all investors. © 2005, Sage Publications. All rights reserved.

Identifier

34248035227 (Scopus)

Publication Title

Review of Public Personnel Administration

External Full Text Location

https://doi.org/10.1177/0734371X04271062

ISSN

0734371X

First Page

107

Last Page

137

Issue

2

Volume

25

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