IDEAS home Printed from https://ideas.repec.org/p/crr/slpbrf/ibslp40.html
   My bibliography  Save this paper

An Update on Pension Obligation Bonds

Author

Listed:
  • Alicia H. Munnell
  • Jean-Pierre Aubry
  • Mark Cafarelli

Abstract

The brief’s key findings are: The brief’s key findings are: *Some state and local governments issue Pension Obligation Bonds (POBs) to cover their required pension contributions. *POBs offer budget relief and potential cost savings, but also carry significant risk. *POBs had a negative average real return from 1992-2009, but show a small gain when the time period is extended to 2014. *POBs could be a useful tool for fiscally sound governments or as part of a broader pension reform package for fiscally stressed governments. *But results to date suggest that, instead, POBs tend to be issued by governments under financial pressure who have little control over the timing.

Suggested Citation

  • Alicia H. Munnell & Jean-Pierre Aubry & Mark Cafarelli, 2014. "An Update on Pension Obligation Bonds," State and Local Pension Plans Briefs ibslp40, Center for Retirement Research.
    • Handle: RePEc:crr:slpbrf:ibslp40
    as

    Download full text from publisher

    File URL: http://crr.bc.edu/briefs/an-update-on-pension-obligation-bonds/
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:crr:slpbrf:ibslp40. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Amy Grzybowski or Christopher F Baum (email available below). General contact details of provider: https://edirc.repec.org/data/crrbcus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.