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State and Local Pension Plans

  • Olivia S. Mitchell
  • Roderick Carr

This paper examines the role and function of pension plans covering state and local government employees in the United States. Covering about 16 million employees (including teachers, fire fighters, police, members of the judiciary, and many other state and local employees), these plans manage a substantial stock of financial assets -- close to $1 trillion -- and receive annual contributions from employees and government revenues totaling about $56 billion. Using data gathered from a variety of different sources, some of which have only recently become available, we describe the benefits, financing, and management of these plans, and identify some of the prominent challenges facing these pension plans in the next decade.

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File URL: http://www.nber.org/papers/w5271.pdf
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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 5271.

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Date of creation: Sep 1995
Date of revision:
Publication status: published as In Handbook of Employee Benefits. Ed. by J. Rosenbloom. Chicago;ZL: Irwin,1996.
Handle: RePEc:nbr:nberwo:5271
Note: AG LS
Contact details of provider: Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.
Phone: 617-868-3900
Web page: http://www.nber.org
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  1. Olivia S. Mitchell & Robert S. Smith, 1991. "Pension Funding in the Public Sector," NBER Working Papers 3898, National Bureau of Economic Research, Inc.
  2. Olivia S. Mitchell & Ping-Lung Hsin, . "Public Pension Governance and Performance," Pension Research Council Working Papers 94-1, Wharton School Pension Research Council, University of Pennsylvania.
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