Fiscal institutions and the funding of US state and local pension plans

Qiushi Wang

Public Money & Management, 2017, vol. 37, issue 7, 507-514

Abstract: This paper investigates the relationship between the funded ratio of US public pension plans and several fiscal institutions adopted by state governments. The author analysed a large data set from 1997 to 2012, and found that states with stricter balanced budget requirements and debt limits had a lower pension funded ratio, whereas states with tax and spending limits in place had a higher funded ratio. The findings contribute to the current debate on public sector pension reforms in the US and internationally.

Date: 2017
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DOI: 10.1080/09540962.2017.1372112

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