Public Administration ETDs

Publication Date

5-1-1973

Abstract

Many complex problems exist in America today, but surely one of the most important is the problem of preparing for old age. Finding an effective solution to the financial burden of aging is a central issue in our economy in that the assets of private pension plans amounts to an appreciable sum which cannot be overlooked, especially with the growing alarm concerning the effectiveness of these plans; but besides this aggregate economic effect, private pension plans influence a considerable number of individual life patterns. For these reasons, it makes good sense to assess the effectiveness of the plans. This study is one attempt to satisfy the need for more formal analysis to determine the real value of private pension plans. The paper began by bringing together the various terms used in private pension plans; it then proceeded to an history of pensions in America. A systems model for private pension plans was developed in this work, and the objectives of private pension plans were elaborated. The information base developed in these early portions of the thesis was then used to derive an empirical profile of private pension plans from existing data. This profile consisted of a set of eleven parameters which fully describe the provisions of most private pension plans. An empirical profile for an alternate pension planning system was constructed to facilitate comparison. The Civil Service Retirement System was selected for use in this comparison; the comparison of private and federal sector pension plans was prefaced by an elaboration of pension concepts as they apply to the public service. These deliberations ended by supporting the hypothesis that pension plans in the federal sector may be more flexible and effective than private pension plans. An important input to the study was an intense search of the existing pension literature. This research resulted in the delineation of five current issues relating to private pension plans: disclosure, vesting, fiducicary responsibility, portability, and funding. The paper was concluded with the suggestion that much more formal inquiry is needed before these current and controversial issues can be resolved.

Degree Name

Public Administration

Level of Degree

Masters

Department Name

School of Public Administration

First Committee Member (Chair)

Edwin Francis Connerley

Second Committee Member

Gerald Joseph Boyle

Third Committee Member

Donald Winston Smithburg

Language

English

Document Type

Thesis

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