129773184420156250_64Hexun homepage established mobile phone version of the stock/fund micro-blogging news blog roll management career strategic business review special topics in marketing School of business Idol dynamic pictures for financial Web site on theHexun hexun.com schools corner-Zhan Wenming > body font size print RSS source March 26, 2012: hexun.com author: article on Zhan Wenming "from the why did die young of the general pension revolution?"We talked about the common problems of the pension system.
In fact, apart from the company's old-age pension, does the Government have any immunity?
Has not, Drucker pointed out in his revolution in the old-age pension, in addition to pension needs of enterprises outside the revolution, the Government also did not have immunity on the pensions issue. United States Government employees pension fund is not bound by any lawLegal or regulatory agency management and restricting, so than any mismanagement, controlled by the Union of pension schemes are even worse. The vast majority of government agencies do not even attempt to reserve on their pension liabilities. Technically speaking, the Pension Fund has gone bankrupt.
The most obvious example is the New York City Government employee pensions. Although New York CityOwn pension liabilities that have not been reserve-especially in Lindsay (Lindsay) ruling period, however, it actually has been for more than 10 years to pretend they did "break even". That by the year 1975, constantly rising as retired employees, sudden increase in New York City to pay pensions, however, it is not ready for, Self-deceiving illusions is finally unable to continue, and New York City authorities in a severe debt crisis, and on the verge of bankruptcy--and of course, came close to bankruptcy of New York City also has a number of other reasons, such as lack of sources, and welfare burden too heavy and too many personal pensions and welfare commitment to city employees, but these are not the main reason. New York City was not the only caseThe child is simply one of the most obvious. In fact, almost no Government (including the Federal Government) employees ' pension funds in reserve is doing a little better.
Therefore, even if the funds have dramatically cut their promises, they still need to use more and more income to meet pension liabilities of has expired. According to the official data,Pension funds in New York City there is no past service liability of the reserve funds is as high as US $ 5.5 billion, ~60 billion! in fact, although no one knows the real data, real-world data is much higher than official. Because the New York City pension funds are established to 1918 years based on the results of the actuarial--when an employee's average life expectancy is less than 55, and now has more than 70 years old.
In addition, since the actual pension liabilities may exceed the theoretical value, thus 10-15 years in the future, the Government may need to pay significant additional pension for retired employees. However, in terms of pay and pension reserves, has not made any preparations in advance of New York City. Some experts believe that New York City noPast service liability of the corresponding reserve funds could be as high as $ 10 billion. Even the official admitted that he had $ 6 billion is more than the total value of all government bonds and bills in the hands of the public. As with any other debts, there is no past service liability of the final of the reserve fund will also need to pay them one by one. Therefore
tera power leveling, all the debt repaid unless New York City pension funds, orAll "New York City budget balanced" argument is full of fraud, all "to save New York City financial" plan is nonsense. Patent problems of pension funds is not a big city
tera gold, small city is no exception, its severity is not much, at least in United States in 1975 before the year is: "United States State, County and municipal employeesOld Fund management also needs to be reformed. Many government pension funds throughout the country there has been investment in expensive, inefficiency and nepotism in the system of personnel and other issues. For example, New York State Government employees pension fund is the sole trustee of the New York State Auditor, and he does not need to be accountable to anyone – this situation in the United States are common. This approach isAbsolutely impossible for it to appear in private pension funds
tera power leveling, a person in any case worthy of respect, he could not become the sole custodian of the private pension fund. "All in all, whether it be in reserve for pension rights, and past service liability, is also in the management of pension funds, Government employees ' pension fund should comply with the pension reform act of the relevantRequirements to operate. Although this does not prevent the "crisis", but at least you can make the problem public, in fact, it can be seen many (perhaps most) Government agencies have serious financial crisis, so as to effectively prevent such as financial fraud leading to New York City on the brink of bankruptcy and liquidation the final coming of the accidentAnd surprise.
In the case of the Government of New York City, we can learn how, through effective management and system design, enable the operations of the Pension Fund to meet the effective care for retired employees, but also bring performance to the Government sector. Next, we will discuss the challenges posed by demographic changes to the pension.
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