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PUBLIC PENSIONS - Economics and Public Policy Forum

When: Wednesday, Mar 28, 2012, 12:00 PM until 1:15 PM
Where:
Kopecky, Schumacher & Bleakley, P.C.
http://www.ksblegal.com
203 N. LaSalle St., Suite 1620
Chicago, IL  60601
Additional Info:

Contact: Not Selected
Category: Continuing Education

Registration: Required
Payment: Payment In Advance Only
Event Rules:
Cancellation Policy:
Capacity: 0
Available Slots: 0
Registrants & Fees:
RegistrantFee
Booth Club Member$ 15.00
Chicago Booth Student$ 15.00
Non-Member$ 16.00
 

                                        BOX LUNCH included with Registration

 

The Economics and Public Policy Forum is a monthly discussion group of Booth alumni and students who gather over lunch to discuss a pre-selected topic and reading material. This is a collegial gathering of equals and we do not present speakers. The TOPIC and PRE-READING are:

 

PUBLIC PENSIONS

 

At the suggestion of several of our members at our January forum, this month we will be discussing public pensions. Why should we care about them if we are in the private sector? What is their impact on the economy as a whole? Are they adequately funded? Do they affect the overall quality of life for the larger community? Please read the following short articles and join us for a discussion with your peers over lunch:

 

Assigned Reading:

 

The Liabilities and Risks of State-Sponsored Pension Plans, by Robert Novy-Marx and Joshua D. Rauh, Journal of Economic Perspectives—Volume 23, Number 4—Fall 2009—Pages 191–210

READ the following sections: Why Do Public Pension Funding and Investment Policy Matter? and the Conclusion on Pp. 205-209 (4 pages total).

http://rnm.simon.rochester.edu/research/JEP_Fall2009.pdf

 

Pensions, like life, aren't fair, The Economist, Dec 1st 2011, 12:47 by A.C.S. | NEW YORK (2 1/2 pages)

http://www.economist.com/blogs/freeexchange/2011/12/pensions

 

Why Public Pensions are so Rich, Andrew G. Biggs, Jason Richwine, the Wall Street Journal, January 4, 2012 (2 pages)

http://online.wsj.com/article/SB10001424052970204464404577118440980974530.html

 

State and City Pensions Could Destroy U.S. Economy, The Fiscal Times, By October 13, 2010, by The Kellogg School of Management at Northwestern University (2 pages)

 

http://www.thefiscaltimes.com/Articles/2010/10/13/State-and-City-Pensions-Could-Destroy-US-Economy.aspx#page1

 

Additional Reading (Optional):

 

Illinois State Pension Systems: A Challenging Position, by State of Illinois Comptroller Judy Barr Topinka, May 2011 Issue

http://www.ioc.state.il.us/index.cfm/linkservid/C0426A73-1CC1-DE6E-2F485B26D3820194/showMeta/0/

 

Private Workers, Public Pension, by Jodi S. Cohen and Jason Grotto, Chicago Tribune, December 17, 2011

http://articles.chicagotribune.com/2011-12-17/news/ct-met-pensions-surs-20111217_1_public-pensions-pension-fund-pension-costs

 

The Trillion Dollar Gap Grows Wider, States' Fiscal Health, The Pew Center on the States, April 25, 2011

http://www.pewcenteronthestates.org/initiatives_detail.aspx?initiativeID=85899358839

 

Governor, Sign this Pension Abuse Bill, Chicago Tribune, November 30, 2011

http://articles.chicagotribune.com/2011-11-30/news/ct-edit-legis-20111130_1_pension-abuse-bill-pension-systems-public-pension

 

 

Moderator: Elizabeth Bleakley