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Pension Underfunding and Liberal Retirement Benefits Among State and Local Government Workers

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  • Johnson, Richard W.

Abstract

Finds evidence that the relative generosity of pensions among state and local government workers is related to the ability to underfund public employee retirement plans. Shows a strong, positive relationship among underfunding levels, individual pension wealth, and taxpayer mobility.

Suggested Citation

  • Johnson, Richard W., 1997. "Pension Underfunding and Liberal Retirement Benefits Among State and Local Government Workers," National Tax Journal, National Tax Association;National Tax Journal, vol. 50(1), pages 113-142, March.
    • Handle: RePEc:ntj:journl:v:50:y:1997:i:1:p:113-42
    DOI: 10.1086/NTJ41789245
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    References listed on IDEAS

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    1. Barro, Robert J, 1974. "Are Government Bonds Net Wealth?," Journal of Political Economy, University of Chicago Press, vol. 82(6), pages 1095-1117, Nov.-Dec..
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    Cited by:

    1. Ali Nejadmalayeri & Sheri Faircloth & Jeanne Wendel & Surya Chelikani, 2017. "GASB mandatory disclosure rules and municipal bond yield spreads," Review of Quantitative Finance and Accounting, Springer, vol. 49(2), pages 379-405, August.
    2. Splinter, David, 2017. "State pension contributions and fiscal stress," Journal of Pension Economics and Finance, Cambridge University Press, vol. 16(1), pages 65-80, January.
    3. Gang Chen & David S. T. Matkin, 2017. "Actuarial Inputs and the Valuation Of Public Pension Liabilities and Contribution Requirements: A Simulation Approach," Public Budgeting & Finance, Wiley Blackwell, vol. 37(1), pages 68-87, March.
    4. Christian Dippel, 2019. "Political Parties Do Matter in U.S. Cities ... For Their Unfunded Pensions," NBER Working Papers 25601, National Bureau of Economic Research, Inc.
    5. Yongqing Cong & Milena I. Neshkova & Howard A. Frank, 2017. "Path Dependence in Pension Policy: The Case of Florida Local Governments," Public Budgeting & Finance, Wiley Blackwell, vol. 37(4), pages 92-110, December.
    6. Sprunger, Philip & Wilson, John Douglas, 1998. "Imperfectly Mobile Households and Durable Local Public Goods: Does the Capitalization Mechanism Work?," Journal of Urban Economics, Elsevier, vol. 44(3), pages 468-492, November.

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