Critical Questions for the Transition to Defined Contribution Pension Systems in the Public Sector

2011 ◽  
Vol 42 (4) ◽  
pp. 375-399 ◽  
Author(s):  
Howard Frank ◽  
Gerasimos (Jerry) Gianakis ◽  
Milena I. Neshkova
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Local Governments ◽  
Pension Plans ◽  
Political Support ◽  
Work Place ◽  
Defined Contribution ◽  
Potential Cost ◽  
The Public ◽  
Critical Questions

Unfunded liabilities of pension plans sponsored by state and local governments have drastically increased in the past few years. This article examines the potential challenges faced by states and municipalities in meeting their pension obligations and explores the cost and benefits of a switch from traditional defined benefit (DB) plans to defined contribution (DC) plans. The authors draw on the experience of the private sector to depict the potential cost savings for governments and the likely impacts on employees. The authors also identify several issues that are unique to governments if a shift in pension coverage plans is to occur. One of the attractions of public sector employment has been the generous benefits offered; the authors examine whether it will be harder to recruit people in the public sector if the government does not offer DB pensions. The authors explore equity issues and the effects of eroding political support for public sector DB systems in light of their demise in the private sector. The authors also address the issue of financial illiteracy in the work place and its impact on the human resource function in the context of DC plan implementation. Finally, the authors pose critical questions regarding DC plan rollout and its inherent difficulties.

scholarly journals Behavioral economics perspectives on public sector pension plans

2011 ◽  
Vol 10 (2) ◽  
pp. 315-336 ◽  
Author(s):  
JOHN BESHEARS ◽  
JAMES J. CHOI ◽  
DAVID LAIBSON ◽  
BRIGITTE C. MADRIAN
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Pension Plan ◽  
Pension Plans ◽  
Defined Benefit ◽  
Defined Contribution ◽  
Public And Private ◽  
Savings Behavior ◽  
The Public ◽  
Public And Private Sector

AbstractWe describe the pension plan features of the states and the largest cities and counties in the U.S. Unlike in the private sector, defined benefit (DB) pensions are still the norm in the public sector. However, a few jurisdictions have shifted toward defined contribution (DC) plans as their primary savings plan, and fiscal pressures are likely to generate more movement in this direction. Holding fixed a public employee's work and salary history, we show that DB retirement income replacement ratios vary greatly across jurisdictions. This creates large variation in workers’ need to save for retirement in other accounts. There is also substantial heterogeneity across jurisdictions in the savings generated in primary DC plans because of differences in the level of mandatory employer and employee contributions. One notable difference between public and private sector DC plans is that public sector primary DC plans are characterized by required employee or employer contributions (or both), whereas private sector plans largely feature voluntary employee contributions that are supplemented by an employer match. We conclude by applying lessons from savings behavior in private sector savings plans to the design of public sector plans.

Transitions from career employment among public- and private-sector workers

2019 ◽  
Vol 18 (04) ◽  
pp. 529-548 ◽  
Author(s):  
Joseph F. Quinn ◽  
Kevin E. Cahill ◽  
Michael D. Giandrea
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Pension Plans ◽  
Full Time ◽  
Defined Benefit ◽  
Defined Contribution ◽  
Private And Public ◽  
Public And Private Sector ◽  
Career Employment ◽  
Public Sector Workers

AbstractDo the retirement patterns of public-sector workers differ from those in the private sector? The latter typically face a retirement landscape with exposure to market uncertainties through defined-contribution pension plans and private saving. Public-sector workers, in contrast, are often covered by defined-benefit pension plans that encourage retirement at relatively young ages and offer financial security at older ages. We examine how private- and public-sector workers transition from full-time career employment, with a focus on the importance of gradual retirement. To our surprise, we find that the prevalence of continued work after career employment, predominantly on bridge jobs with new employers, is very similar in the two sectors, a result with important implications in a rapidly aging society.

scholarly journals Motivation In Public Sector Unionized Organizations

2011 ◽  
Vol 9 (1) ◽  
Author(s):  
Martin D. Carrigan
Keyword(s):  
Public Sector ◽  
Pension Plans ◽  
Work Place ◽  
The Public ◽  
Public Sector Employees ◽  
Public Sector Unions ◽  
Substandard Performance ◽  
Sector Work ◽  
Public Sector Work

Developing creative ways to motivate unionized public sector employees is a growing concern.  The concept of motivation within the public sector work place is something that is generally understood but unfortunately not often practiced.  This paper looks deeper at the perception that public sector unions receive overly generous compensation and pension plans while their members deliver substandard performance.

scholarly journals A comparative analysis of marital obligation of child care of woman working in the private and public sector in Nigeria

2018 ◽  
Vol 5 (10) ◽  
pp. 451-458
Author(s):  
Chinedu Nwokorie ◽  
Anyaoha Okechukwu
Keyword(s):  
Child Care ◽  
Public Sector ◽  
Private Sector ◽  
Maternity Leave ◽  
Married Women ◽  
T Test ◽  
Work Place ◽  
The Public ◽  
Private And Public ◽  
The Impact

This is a comparative study of work-family conflict in the private and public sector of Nigeria. It comparatively analyzed the impact of long hours working mothers spend at work on child care obligation. The study adopted a survey and descriptive research design. The target population consisted of 524 married women selected from United Bank for Africa (UBA), Nigerian Brewery, Ministry of Commerce and Industry and Ministry of Labour and productivity representing the private and public sectors. A hypothesis was formulated to guide the study. Open-ended and close- ended questionnaire and interview were used for data collection. The Cronbach Alpha test was used to test for the internal consistency, and the reliability index of the instrument. The data gather was analyzed using chi-square and independent t test. The findings revealed that the independent sample t-test analysis of the differences between the hours women spend at work and the marital obligation of childcare based of both sectors showed that women working in the private sector (M = 2.54, SD = 0.64) spend significantly more time at work than those in the public sector [M = 1.87, SD = 0.48; t(522) = 13.32, p < 0.05]. Also, the result shows that women working in the private sector (M = 23.06, SD = 10.96) scored significantly higher in variation in terms of time spent at work as well as scoring lower in child care obligation than their counterparts working in the public sector [M = 27.98, SD = 8.08; t(522) = -5.74, p < 0.05. The study recommended that government should prosecute private sector organizations that fail to inculcate and implement family flexibilities that will enable married women to cushion the effect of work-home conflict. Family flexibility that allows married women spend less time at work place or to work from home should be encouraged in the private sector, and maternity leave allowance for nursing mothers should be extended to 5-6 months from the usual three months.

Mobility as a Service Operating Model to Enable Public Policy

2021 ◽  
pp. 036119812110266
Author(s):  
Christina Joy Ditmore ◽  
Angela K. Miller
Keyword(s):  
Public Policy ◽  
Public Sector ◽  
Environmental Impact ◽  
Private Sector ◽  
Public Good ◽  
Business Model ◽  
Operating Model ◽  
The Public ◽  
Equity And Access ◽  
Policy Goals

Mobility as a Service (MaaS) is the concept through which travelers plan, book, and pay for public or private transport on a single platform using either a service or subscription-based model. Observations of current projects identified two distinct approaches to enabling MaaS: the private-sector approach defined as a “business model,” and the public sector approach that manifests as an “operating model.” The distinction between these models is significant. MaaS provides a unique opportunity for the public sector to set and achieve public policy goals by leveraging emerging technologies in favor of the public good. Common policy goals that relate to transportation include equity and access considerations, environmental impact, congestion mitigation, and so forth. Strategies to address these policy goals include behavioral incentivization and infrastructure reallocation. This study substantiates two models for implementing MaaS and expanding on the public sector approach, to enable policy in favor of the public good.

Relationship between CSR motivations and corporate social performance: a study in the power industry in India

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Moumita Acharyya ◽  
Tanuja Agarwala
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Corporate Social Performance ◽  
Social Performance ◽  
Power Sector ◽  
Public And Private ◽  
Content Type ◽  
The Public ◽  
Self Interest ◽  
Public And Private Sector

PurposeThe paper aims to understand the different motivations / reasons for engaging in CSR initiatives by the organizations. In addition, the study also examines the relationship between CSR motivations and corporate social performance (CSP).Design/methodology/approachThe data were collected from two power sector organizations: one was a private sector firm and the other was a public sector firm. A comparative analysis of the variables with respect to private and public sector organizations was conducted. A questionnaire survey was administered among 370 employees working in the power sector, with 199 executives from public sector and 171 from private sector.Findings“Philanthropic” motivation emerged as the most dominant CSR motivation among both the public and private sector firms. The private sector firm was found to be significantly higher with respect to “philanthropic”, “enlightened self-interest” and “normative” CSR motivations when compared with the public sector firms. Findings suggest that public and private sector firms differed significantly on four CSR motivations, namely, “philanthropic”, “enlightened self-interest”, “normative” and “coercive”. The CSP score was significantly different among the two power sector firms of public and private sectors. The private sector firm had a higher CSP level than the public sector undertaking.Research limitations/implicationsFurther studies in the domain need to address differences in CSR motivations and CSP across other sectors to understand the role of industry characteristics in influencing social development targets of organizations. Research also needs to focus on demonstrating the relationship between CSP and financial performance of the firms. Further, the HR outcomes of CSR initiatives and measurement of CSP indicators, such as attracting and retaining talent, employee commitment and organizational climate factors, need to be assessed.Originality/valueThe social issues are now directly linked with the business model to ensure consistency and community development. The results reveal a need for “enlightened self-interest” which is the second dominant CSR motivation among the organizations. The study makes a novel contribution by determining that competitive and coercive motivations are not functional as part of organizational CSR strategy. CSR can never be forced as the very idea is to do social good. Eventually, the CSR approach demands a commitment from within. The organizations need to emphasize more voluntary engagement of employees and go beyond statutory requirements for realizing the true CSR benefits.

scholarly journals Grey Clustering Evaluation for the Cooperation Efficiency of PPP Project: Taking Beijing Metro Line 4 as an Example

2019 ◽  
Vol 2019 ◽  
pp. 1-13 ◽  
Author(s):  
Hui Sun ◽  
Yingzi Liang ◽  
Yuning Wang
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Evaluation Model ◽  
Evaluation Index System ◽  
The Public ◽  
Clustering Model ◽  
Grey Clustering ◽  
Public Products ◽  
Infrastructure Project

PPP model is an important model which provides public products or services based on the coordination between the public sector and private sector. The implementation of PPP model is helpful for relieving the stress of insufficient funding for public sector and improving the efficiency of resource allocation. Comparing with traditional infrastructure project, PPP project involves many stakeholders, and the cooperation efficiency during the different stakeholders impacts the results of the project directly. Thus, it is important to explore the cooperation efficiency of PPP project. Based on grey clustering model, this paper evaluates the cooperation efficiency of PPP project. An evaluation index system including 36 indexes is established based on the aims and objectives of three stakeholders (public sector, private sector, and passengers). A case study of Beijing Metro Line 4 PPP project is implemented to verify the validity and applicability of the evaluation model. And the results showed that the cooperation efficiency of Beijing Metro Line 4 PPP project is relatively high. The model also provided insights into the shortage of the cooperation efficiency of Beijing Metro Line 4 PPP project. As such, the results can assist all stakeholders in adjusting the cooperation efficiency.

scholarly journals THE MEDIATING ROLE OF CORPORATE ENTREPRENEURSHIP FOR EXTERNAL ENVIRONMENT EFFECTS ON PERFORMANCE

2013 ◽  
Vol 14 (Supplement_1) ◽  
pp. S328-S357 ◽  
Author(s):  
Claudine Kearney ◽  
Robert D. Hisrich ◽  
Bostjan Antoncic
Keyword(s):  
Public Sector ◽  
Private Sector ◽  
Organizational Performance ◽  
External Environment ◽  
Corporate Entrepreneurship ◽  
The United States ◽  
Mediating Effect ◽  
Integrative Model ◽  
The Public ◽  
Private Sector Organizations

A model is proposed that tests the antecedents and the mediating effect of corporate entrepreneurship on the external environment-performance relationship within private and public sector organizations. Hypotheses were tested using data from a sample of chief executive officers in 51 private sector organizations in the United States, 141 private sector organizations in Slovenia and 134 public sector state and semi-state enterprises in Ireland. Data was analyzed using hierarchical regression analysis. The results show that dynamism and munificence effects on performance are mediated by an organization's corporate entrepreneurship in the private sector and munificence effects on performance are mediated by an organization's renewal in the public sector and that renewal must be in place to maximize the effect of munificence on performance. The results support a model that incorporates an extensive and diverse literature into a single model and helps illuminate similarities and differences of corporate entrepreneurship between the private sector and the public sector. The study shows that an integrative model and the interplay among the constructs yields new insights unavailable to single and focused approaches. It offers new insights about corporate entrepreneurship, not only as a discrete pursuit, but also as a construct that shapes and extends organizational performance.

Sociology after Fordism: Prospects and problems

2011 ◽  
Vol 14 (4) ◽  
pp. 537-556 ◽  
Author(s):  
John Holmwood
Keyword(s):  
Political Economy ◽  
Public Sector ◽  
Social Studies ◽  
Private Sector ◽  
Special Interest ◽  
Social Knowledge ◽  
Sociological Knowledge ◽  
The Public ◽  
Critical Knowledge ◽  
New Form

A number of commentators have suggested that the shift from a Fordist to a post-Fordist regime of political economy has had positive consequences for sociology, including the reinforcement of critical sociologies ( Burawoy, 2005 ; Steinmetz, 2005 ). This article argues that, although disciplinary hierarchies have been destabilized, what is emerging is a new form of instrumental knowledge, that of applied interdisciplinary social studies. This development has had a particular impact upon sociology. Savage and Burrows (2007) , for example, argue that sociological knowledge no longer has a privileged claim to authority and is increasingly in competition with social knowledge produced by the private sector and agencies of the public sector. The response of many sociologists to such claims has been to reassert the importance of the discipline as the purveyor of critically relevant knowledge about society. The article traces how the idea of internal critique within sociology has developed to embrace ‘knowing capitalism’ ( Thrift, 2005 ), at the same time as declaring the impossibility of sociological knowledge. The critique of sociology also becomes the critique of critique and what remains is the instrumentalization of knowledge. Where many sociologists continue to claim a special interest in critical knowledge, the article suggests that, in contrast, we potentially confront the problem that such knowledge may itself be facing a crisis of reproduction.

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