%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