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Full-Text Articles in Finance and Financial Management
U.S. State Employee Pension Systems: An Investigation Into The Causes Of Unfunded Liabilities, Chuck Truesdell
U.S. State Employee Pension Systems: An Investigation Into The Causes Of Unfunded Liabilities, Chuck Truesdell
MPA/MPP/MPFM Capstone Projects
Defined benefit retirement plans for state employees have come under fire, both financially and politically, following recent market volatility and subsequent losses in pension investments. Asset losses matched with liabilities that are set years in advance translate to pressures on state policymakers and plan administrators to either find ways to improve the finances of these pension systems or transition to defined contribution plans that put the financial risk on individual employees rather than the state government. Because most states are legally and contractually obligated to pay retiree benefits regardless of the pension system’s financial condition — even to the point …
Growth And Stability Of Local Government Taxes: An Analysis Of The Lexington-Fayette Urban County Government’S Tax Revenue Portfolio, Nathan Phelps
Growth And Stability Of Local Government Taxes: An Analysis Of The Lexington-Fayette Urban County Government’S Tax Revenue Portfolio, Nathan Phelps
MPA/MPP/MPFM Capstone Projects
Adequate tax revenues are critical for a government to operate and maintain the delivery of services that its citizens depend. The stability of these revenues is necessary for a government to accurately forecast future revenue growth and to ensure that balanced-budget requirements are met. The Lexington-Fayette Urban County Government (LFUCG) depends upon five primary tax sources for nearly 95% of its tax revenue. These taxes comprise the city’s tax revenue portfolio and include the business net profits tax, employee withholdings tax, franchise tax, insurance premiums tax, and the property tax. Each of tax possesses unique characteristics that dictate their susceptibility …