%0 Journal Article
%A Andrew G. Biggs
%T The Public Pension Quadrilemma: The Intersection of Investment
Risk and Contribution Risk
%D 2014
%R 10.3905/jor.2014.2.1.115
%J The Journal of Retirement
%P 115-127
%V 2
%N 1
%X Pension plans for state and local government employees seek to achieve four main financing goals: maintain sufficient funds to pay benefits; keep contribution costs low for sponsoring governments and employees; stabilize contributions from year to year, to assist in budgeting; and stabilize costs from generation to generation, a precept known as intergenerational equity. Pension plan stakeholders generally believe that as an article of faith, a plan can satisfy these goals with prudent management.TOPICS: Pension funds, retirement
%U https://jor.pm-research.com/content/iijretire/2/1/115.full.pdf