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The Management of Defined Contribution Pension Plans in Local Government
Author(s) -
CHEN GANG,
EBDON CAROL,
KRIZ KENNETH A.,
LAFORGE OLIVIER MAISONDIEU
Publication year - 2013
Publication title -
public budgeting and finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.694
H-Index - 30
eISSN - 1540-5850
pISSN - 0275-1100
DOI - 10.1111/j.1540-5850.2013.12015.x
Subject(s) - pension , plan (archaeology) , local government , pension plan , face (sociological concept) , government (linguistics) , business , sample (material) , state (computer science) , administration (probate law) , variation (astronomy) , perception , public administration , actuarial science , public economics , finance , economics , political science , computer science , sociology , psychology , geography , algorithm , law , linguistics , archaeology , chemistry , chromatography , physics , astrophysics , social science , philosophy , neuroscience
Despite the growing importance of defined contribution pension plans in state and local governments, little research exists on how those plans are actually managed. Our study fills a gap in the literature through using a mixed‐methods approach on a sample of local governments in Nebraska. We employ a mail‐out survey to get broad‐based information on DC plan administration throughout the state, and use face‐to‐face interview techniques on a subsample of plans to investigate the details of plan management. We find several deviations from promulgated best practices, and substantial variation in administrators' knowledge of and role perception related to DC plans.