U.S. Public Pension Handbook: A Comprehensive Guide for Trustees and Investment Staff

Name: U.S. Public Pension Handbook: A Comprehensive Guide for Trustees and Investment Staff
Author: Von Hughes

Specificaties

Gebonden, blz. | Engels

McGraw-Hill Education | 2019

ISBN13: 9781260134766

Rubricering

McGraw-Hill Education e druk, 2019 9781260134766

€ 82,58

In winkelwagen

Levertijd ongeveer 11 werkdagen

Gratis verzonden

Samenvatting

The first comprehensive guide to mastering the roles and responsibilities of a public pension fiduciary in the U.S.
In an ever-changing financial and political landscape, your job as a public pension fiduciary continues to get more difficult. Now, you have the help you need.
U.S. Public Pension Handbook is the only one-stop resource that covers the various areas of public pension policy design, governance, investment management, infrastructure, accounting, and law. This comprehensive guide presents critical data, information, and insights in topic-specific, easy-to-understand ways—providing the knowledge you need to elevate your expertise and overall contribution to your pension plan or system. U.S. Public Pension Handbook covers:
•Today’s domestic and global public pension marketplace•The ins and outs of the defined benefit model, the defined contribution model, and hybrid pension designs•Financial concepts central to the actuarial valuation of pension obligations•Public pension investment policies and philosophies•Asset allocations and how they have changed over time•State and local government pension contribution policies•The impact of governance structure and board composition on organizational results•Fiduciary responsibility and the general legal/regulatory framework governing trustees•How changes in trust law may affect public pension trustee fiduciary responsibility and liability•Best practices in pension governance and organizational design
Public pension trustees are the unsung heroes of the world of finance, collectively managing over $6 trillion in retirement assets in this country alone. U.S. Public Pension Handbook provides the grounding you need to make sure you perform your all-important job with the utmost expertise and professionalism.

Specificaties

ISBN13:9781260134766

Taal:Engels

Bindwijze:gebonden

Uitgever:McGraw-Hill Education

Inhoudsopgave

ForewordIntroductionPART I Introduction and Current Marketplace 1 History of Public Pensions 3 Introduction Early Pension Development Public Pension Development Early Twentieth-Century Development Late Twentieth-Century Development Chapter Notes 2 Public Pension Marketplace 21 Introduction Global Retirement Market Global Pension Trends Population Aging Global Regulatory Environment U.S. Retirement Market U.S. Public Pension Market Members and Beneficiaries Pension Coverage and Type Public Pension Revenue Public Pension ExpendituresU.S. Public Pension Trends Public Pension Funding Addressing the Funding Gap Design Shift Chapter Notes PART II Pension Plan Design3 Defined Benefit Model Introduction Public Pension Designs Defined Benefit Plan Design Regular Service-Related Benefits Normal Service Benefit Early Retirement Benefits Postemployment Benefit Adjustments Service Credits Ancillary Pension Benefits Healthcare Benefits Disability and Death Benefits Deferred Retirement Option Plan Pension Benefit Adequacy Replacement Ratio Social Security Coverage State Tax Liability Chapter Notes 4 Actuarial Valuation Concepts Introduction Actuarial Valuation Demographic Assumptions Economic Assumptions Actuarial Cost Methods Cost Method Classifications Actuarial Cost Methods Impact of GASB Changes Chapter Notes5 Beyond Defined Benefit Introduction Defined Contribution Plans DC Plan Types FM.indd 6 6/26/2019 2:04:21 PM DC Plan Services DC Investment Options and Services Comparison of DB and DC Plans Persistence of the DB Design Disadvantages of Defined Benefit Advantages of Defined Contribution Disadvantages of Defined Contribution Pension Design Risk: DB vs. DC Hybrid Plan Designs Side-by-Side (or DB+DC) Cash Balance Plan Alternative Hybrid Designs Chapter Notes PART III Investment Policy and Implementation 6 Investment Policy Introduction Investment Policy Statement Statement of Goal, Purpose, or Mission Identification of Decision-Maker(s) Statement on Managing Risk of Overall Portfolio Performance Measurement and Evaluation Legal Standards Chapter Notes 7 Asset Allocation Policy Introduction Why Asset Allocation Policy Matters How Asset Allocation Policy Is Set Peer Comparison Mean Variance Optimization (MVO) Determining Eligible Asset Classes Establishing Capital Market Assumptions Finding an Efficient Frontier Choosing an Optimal Asset Allocation Asset Liability Management (ALM) Chapter Notes 8 Public Pension Portfolio Introduction Asset Allocation Data Asset Allocation Trends Equities Fixed Income Alternative Assets Private Equity Hedge Funds Real Estate and Infrastructure Environmental, Social, and Governance Increasing Overall Portfolio Risk Chapter Notes9 Public Pension Performance Introduction Public Pension Performance Performance Attribution Performance Variation Asset Class Performance Characteristics Performance Benchmarks Performance vs. Benchmark Chapter Notes 10 Public Pension Contributions Introduction Contributions as Pension Revenue Contribution Funding Policy Annual Required Contribution Managing Contribution Volatility Funding Policy Best Practices Employer Contribution Indices Employee Contributions DC Contributions Chapter Notes PART IV Plan Governance 11 Governance Structure Introduction Legislative Oversight Common Governance Structures Governing Fiduciaries: Trustees Board Composition Core Competencies and Education Financial E

Uw winkelwagen

U.S. Public Pension Handbook: A Comprehensive Guide for Trustees and Investment Staff

Samenvatting

Specificaties

Inhoudsopgave

Rubrieken

Personen

Trefwoorden