Pension Security Bonds: A New Plan to Address the State Pension Crisis

Joshua Rauh and Robert Novy-Marx
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Joshua Rauh: Kellogg School of Management
Robert Novy-Marx: University of Chicago Booth School of Business

The Economists' Voice, 2010, vol. 7, issue 3, pages 1

Abstract:

State pensions are in a terrible way. What should be done? In exchange for closing defined-benefit plans to new workers and enrolling all new workers in Social Security, a state should be allowed to issue tax-subsidized bonds for pension funding, according to Joshua Rauh of Kellogg School of Management at Northwestern and Robert Novy-Marx at University of Chicago Booth School of Business.

Keywords: H55; H60; H70; H72; H74; public pensions; pension reform; state and local government (search for similar items in EconPapers)
Date: 2010
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