State Pension Research Articles

Municipal Stormwater Management Spending in California: Data Extraction, Compilation, and Analysis.

Communities in the U.S. fund stormwater management programs to reduce flooding and improve and protect water quality. Few studies have attempted to quantify municipal storwmater management expenditures. This task is important given efforts to meet increasing water quality standards and develop new revenue sources. The purpose of this study was to evaluate trends in municipal stormwater management expenditures across the state of California. The study identified and compiled publicly-available data on reported stormwater expenditures (spending) and budgets for local governments in California. Data were extracted from annual reports for over 160 public agencies. A standardized rubric of activities was developed and used to create a first-of-its-kind database of municipal stormwater budgets and expenditures. The results indicated that there is over $700 million in annual municipal stormwater spending, but this total does not represent all spending due to gaps in publicly-available data. Counties and flood control districts often have the largest total expenditures in a region, but in aggregate cities reported more spending statewide. Available data are not sufficient to adequately evaluate whether current spending meets regulatory requirements. Additionally, publicly-available data are inconsistent across geographic regions regulated by different agencies. The analysis offers a template for improved cost reporting of stormwater programs in U.S. municipalities, which can help answer key questions such as the sufficiency of current funding. Future research can use the method to evaluate spending in other states and regions, evaluate trends over time to improve outcomes, and refine the spending categories based on examples from other states.

Fiscal competition and state pension reforms

AbstractFiscal competition literature emphasizes the need to consider fiscal implications of the flow of labor and capital across jurisdictional boundaries. This open‐economy consideration raises issues for the analysis of fiscal policies, ranging from taxation and expenditure policies to the structure of intergovernmental relations and interjurisdictional competition. Using data on state population movement and pension reforms (2002−2015), this study examines whether the adoption of pension reforms was motivated by state government competition for the mobile tax base. The findings suggest that interstate migration has an influence on states’ enactment of pension reform, and the effect differs by state population density.

Good Practice Principles in Modelling Defined Contribution Pension Plans

We establish 16 good practice principles for modelling defined contribution pension plans. These principles cover the following issues: model specification and calibration; modelling quantifiable uncertainty; modelling member choices; modelling member characteristics, such as occupation and gender; modelling plan charges; modelling longevity risk; modelling the post-retirement period; integrating the pre- and post-retirement periods; modelling additional sources of income, such as the state pension and equity release; modelling extraneous factors, such as unemployment risk, activity rates, taxes and welfare entitlements; scenario analysis and stress testing; periodic updating of the model and changing assumptions; and overall fitness for purpose.

International experience in financing self-employed pensions

The rapid development of modern self-employment, the massive transition from employment to self-employment and vice versa is a challenge for traditional pension systems. The Organisation for Economic Co-operation and Development (OECD) responded by adopting compulsory state pension schemes for the self-employed shared with employees. Russia following global trends with a small-time lag, unlike others, provides an unconditional guarantee of social pensions. It is all the more important to study the advanced international experience in attracting the self-employed to pension insurance. This is the aim of the study. Research tasks are as follows: to identify different approaches to organizing pension insurance for the self-employed across OECD countries, to examine the mechanisms and factors arising, and to evaluate their performance. The research method is cluster analysis of the generated self-employed pensions parametric indicators database according to OECD data (2019–2021) (18 indicators as part of clustering, architecture, finance, performance factors) for 28 countries. The study identifies 3 clusters (approaches) to the organization of pension provision for the self-employed: 1 — employee-like mandatory contributions to state pension schemes; 2 — mandatory contributions with advantages; 3 — voluntary pension contributions with advantages. In general, none of the approaches can be called “the best”. The effectiveness of pension decreases with any form of low-income self-employed inclusion in income-based pension schemes, as well as dependent self-employment. The author concludes that for Russia alternative options for self-employed pensions are quasi-mandatory pension insurance, self-employed employee-like participation in voluntary funded pension schemes only, state co-financing, practical training in financial literacy without going into the depth of financial knowledge. Discussion for further research is a detailed study of the application of the results into self-employed pension insurance practice in Russia.

Did the Dodd–Frank Whistleblower Provision Deter Accounting Fraud?

ABSTRACTWe examine the deterrence effect of the Dodd–Frank whistleblower provision on accounting fraud. To facilitate causal inference, we use state False Claims Acts (FCAs), under which whistleblowing about accounting fraud at a firm invested in by a state's pension fund can result in monetary rewards from that state's government. We divide our sample into firms exposed and not exposed to whistleblowing risk from a state FCA during the 2008–2010 period that preceded the 2011 SEC implementation of the Dodd–Frank whistleblowing provision. We hypothesize that firms already exposed to a state FCA whistleblower law are less affected by the Dodd–Frank whistleblower provision. Using the companies exposed to a state FCA as control firms in our Dodd–Frank tests, the remaining firms constitute the treatment sample. We find that exposure to Dodd–Frank reduces the likelihood of accounting fraud of treatment firms by 12%–22% relative to control firms, but do not find that it affects audit fees.

Politik Pendidikan: Studi Kasus Formulasi Kebijakan Alokasi 20 Persen APBN Untuk Pendidikan

This research stems from the emergence of an issue about 20 percent of the budget for education, followed by the Constitutional Court Decision No. 026/PUU-III/2005 dated March 22, 2006 which states for the education budget has not yet reached 20 percent as specified in the 1945 Constitution, the budget will always be against the Constitution in 1945. Researchers trying to come up how the trip actually 20 per cent allocation policy formulation national budget for education and political dynamics that exist therein. As the basis is the fourth amendment to the 1945 Constitution article 31 paragraph (4) which states "The state prioritizes the education budget of at least twenty percent of budget revenues and expenditures of state and local spending and revenue budget to meet the needs of national education" is derived to be a Law No. 20 Year 2003 on National Education System of article 49 paragraph (1) that "education fund in addition to salaries for teachers and education costs a minimum of 20 percent is allocated for official from the State Budget (APBN) in the education sector and at least 20 percent of Local Government Revenues and Expenditures (budget) ". The purpose of this study was to describe and analyze the travel policy formulation 20 percent budget allocation for education and to know the political dynamics that occur during the formulation process.

Politik Pendidikan: Studi Kasus Formulasi Kebijakan Alokasi 20 Persen APBN Untuk Pendidikan

This research stems from the emergence of an issue about 20 percent of the budget for education, followed by the Constitutional Court Decision No. 026/PUU-III/2005 dated March 22, 2006 which states for the education budget has not yet reached 20 percent as specified in the 1945 Constitution, the budget will always be against the Constitution in 1945. Researchers trying to come up how the trip actually 20 per cent allocation policy formulation national budget for education and political dynamics that exist therein. As the basis is the fourth amendment to the 1945 Constitution article 31 paragraph (4) which states "The state prioritizes the education budget of at least twenty percent of budget revenues and expenditures of state and local spending and revenue budget to meet the needs of national education" is derived to be a Law No. 20 Year 2003 on National Education System of article 49 paragraph (1) that "education fund in addition to salaries for teachers and education costs a minimum of 20 percent is allocated for official from the State Budget (APBN) in the education sector and at least 20 percent of Local Government Revenues and Expenditures (budget) ". The purpose of this study was to describe and analyze the travel policy formulation 20 percent budget allocation for education and to know the political dynamics that occur during the formulation process.

The Macroeconomics of Fiscal Policy Behavior in Liberia: An Error Correction Methodology

The debate of the size of government and economic growth has been popular especially in Africa. This study examined the relationship between fiscal variables, inflation and economic growth in Liberia. The Vector Error Correction Model (VECM) is employed. Results from the Impulse Response Function (IRF) analysis reveal that the response of inflation to growth in the Liberian economy over the study period, was weak, though significant and negative in the short run. However, it became positive and normalized in the medium and long runs. This means that inflation retarded growth only in the short run which is consistent with Barro (1996) empirical findings that inflation impact growth negatively and significantly. Also observed is the relationship between government expenditure and economic growth. For the Liberian economy and despite the interruption of the war, government expenditure impact on growth is a short run positive event, In medium to long run, it has a negative effect. This means that government expenditure only spur growth in the short run slightly but did not bring about growth in the medium to long run. This makes Keynesian theory relative to the intervention of government through spending given rise to growth invalid for the Liberian economy in the long run. However, the impact of growth on expenditure in the medium and long run is significant and strong. This suggests that indeed Wagner’s Law of increasing State spending is valid for the Liberian economy. Hence, fiscal policy is still a mix in stirring economic growth in Liberia. This study recommends well stirred fiscal policies that would positively impact on long run development in the Liberian economy

The Road of Federal Infrastructure Spending Passes Through the States

Because federal infrastructure spending largely takes the form of grants to state governments, the macroeconomic impact of such packages depends on the share of federal grants that “passes through” to actual infrastructure spending done by states. A low degree of pass-through would tend to mute the economic impact from federal grants, reflecting a crowd-out effect on state spending. We first revisit Knight’s (2002) influential finding of near-zero pass-through (perfect crowd out) of federal highway grants. That result is found to be specification-sensitive and is reversed completely in a longer sample, with estimates implying dollar-for-dollar pass-through of grants to spending. We then extend the analysis to allow for dynamics. We find a contemporaneous pass-through effect of about 1 and a longer-run cumulative effect of around 1.3. In the parlance of public finance, the flypaper effect is strong.

The right to social security of State civil servants from the standpoint of chronodiscret monogeographic comparative jurisprudence (HMP)

The article examines the features of the legal regulation of social security of state civil servants from the standpoint of the methodology of chronodiscret monogeographic comparative jurisprudence. Within the framework of this methodology, various aspects of the formation and implementation of the right to social security by state civil servants have been studied since the period of the XVIII century. The object of the study was public relations on pension and medical provision of civil servants and their family members, as well as social services for civil servants. The subject of the study is the legal norms regulating these relations, as well as scientific research conducted in the field of social security of civil servants. The scientific novelty of the study is to identify the features of the current state of legal regulation of social security of civil servants, taking into account the history of its development in the conditions of legislative consolidation of guarantees of social security of civil servants, decrees of the President of the Russian Federation on the further development of social guarantees of civil service. The paradox of the modern stage of social security of civil servants is the fact that most of the provisions of the Law on Civil Servants establishing guarantees of social security of civil servants have not yet been implemented in practice and are essentially declarative. Thus, the norms on state pension provision for family members of civil servants, on mandatory state social insurance in case of illness or disability during the period of civil service, on mandatory state insurance, as well as on special medical insurance for civil servants and their family members have not been implemented.

Non-State Pension Insurance as a Promising Area of Social Policy of Ukraine

The article is devoted to the study of the peculiarities of the development of the pension system in Ukraine and the characteristics of its three levels. The state and problems of functioning of the first level of the pension system (solidarity) are characterized, the forecast of its development is made taking into account demographic changes and deficit of the Pension Fund of Ukraine. An analysis of the dynamics and structure of revenues and expenditures to the budget of the Pension Fund of Ukraine for 2017-2020 and a comparison of expenditure and revenue of the budget as a whole are committed. Changes in the minimum pension in Ukraine and its inability to ensure a decent standard of living when reaching retirement age are studied, based on which the relevance of launching the second level of the pension system and the transition to personalized funded pension accounts of employees are justified. A number of unresolved problems of launching the second level of the pension system in Ukraine are outlined and the main ones are singled out. Prospects for further development of the third level of the pension system are considered. The main indicators of activity of non-state pension funds and tendencies of their further development are given. A comparison of payments from the State Pension Fund of Ukraine and non-state pension funds with a conclusion on the growing relevance of the latter and their strong investment potential for the Ukrainian economy are carried out. The place and role of life insurance in the pension savings market are highlighted. The advantages of the pension insurance system in comparison with the existing models are substantiated. The calculation of the pension in the insurance company as an alternative method of long-term accumulation is conducted. The high prospects for the accumulation of pension capital to achieve prosperity through the system of non-state pension insurance are argued. Recommendations for reforming the pension system in Ukraine are given. The directions of state support of the third level of the pension system are substantiated, namely accumulative life insurance and its positive impact on economic processes in Ukraine, reduction of social tension and indirect reduction of budget payments to socially vulnerable groups.

ASSESSMENT OF THE EFFECTIVENESS OF DEATH BENEFIT PAYMENT POLICY IN LAGOS STATE PENSION COMMISSION

Attempts to develop a better understanding of the interaction between death benefit payer and deceased worker beneficiaries suggest that such compensation have positive impact on the psychological wellbeing of the dependents. Loss of work opportunities through ailment and injury and or death represents serious threat to mental and physical wellbeing of workers which necessitated benefit payment for inevitable. Survey research design with open-ended interviews and innovation in small sample size research was employed for this study. The study offers a harmonizing perspective to qualitative studies exploring effect of workplace fatality and contributes to the growing qualitative study on factors influencing payment of death benefit in establishments. Assessment of effectiveness of death benefit payment policy to deceased workers’ beneficiaries to determine rate of processing group life policy and promptness in payment of social security funds were justified. The belief and experience of both death benefit workers and beneficiaries as explored through oral interview, offers insight to social security plan and revealed the imperativeness of group life policy sphere in Lagos State Government. In a bid to strengthen the prompt payment of death benefit in terms of creation of Lagos State Pension Commission (LASPEC) and enactment of the State Pension Law in the year2007 repealed in 2019 is to protect those who are financially dependent on the deceased employee during his life time. The study implores the workers to get a will to avoid letter of administration which takes more than a year before its completion at probate in circumstance of any occurrence as obtaining a will today does not mean tomorrow’s death.

Dampak Pandemi Covid-19 Terhadap Pertumbuhan Ekonomi Indonesia Dan Solusi Mengatasinya

Since the status of the pandemic was announced by the WHO, it had a significant impact on economic growth in Indonesia, which was experiencing a decline, the impact of the COVID-19 pandemic was felt by various levels of society, regardless of social status or other things. The method in used this research is the method qualitative descriptive, data and data sources through trusted literature such as news, books, and journals first. The results found were that economic growth in Indonesia was very weak due to the COVID-19 pandemic, where in 2019 economic growth was at 5.02% but since the 2020 pandemic it has decreased to 2.97%. This was caused by several factors such as the implementation of PSBB, the weakening of the public's consumptive power, and the occurrence of massive layoffs because the company suffered losses during the pandemic. The government has launched solutions and various programs to overcome the economic impact of the COVID-19 pandemic, such as providing aid funds in several categories, increasing state spending aimed at medium to low-income businesses.

Problems and Perspectives in Pension System: Case of Baltic States

In all states of European Union reforms in pension system are being made, likewise in Latvia. Demographic and economic problems that are occurred forces pension reforms to be made. New developed pension reform includes different processes, like – formation of financial equilibrium between incomes and costs, limit performance in going early in pension, increasing of age of going in pension, rebalancing between men and women. Simultaneous formation of state and private pension systems could prevent some of the major drawback in system of pension that undermines the pension system of nowadays. Unfortunately the high social security contributions of state sector persons lacks of money, for deposit in private pension funds. Using method of logic synthesis, as the target authors nominated to examine problems of pension systems in the Baltic States, as well as similarities and divergences in problems and perspectives, with the status of private pension funds in accumulating pension system.

The Influence of the State Budget of Income and Expenditure on the Defense Budget

The economic war that was going on between strong countries such as America and China had a wide impact on various countries including Indonesia. This study aims to examine how the Influence of the State Development and Expenditure Budget on the 2010-2020 Defense Budget. The method used in this research is quantitative. The results of the study indicate that in terms of economic growth, there are contradictions in both the estimation results and the theory, where based on the estimation results, economic growth has a significant negative effect on the defense budget. The Keynesian view is that the increase in government spending will encourage an increase in demand for various goods and services produced by the economy in aggregate so as to encourage economic growth. In other words, state spending, including defense spending, is an important and ideal policy tool used by the government in an effort to create and increase quality economic growth.

Past local government health spending was not correlated with COVID-19 control in US counties

ContextWide variation in state and county health spending prior to 2020 enables tests of whether historically better state and locally funded counties achieved faster control over COVID-19 in the first 6 months of the pandemic in the Unites States prior to federal supplemental funding. ObjectiveWe used time-to-event and generalized linear models to examine the association between pre-pandemic state-level public health spending, county-level non-hospital health spending, and effective COVID-19 control at the county level. We include 2,775 counties that reported 10 or more COVID-19 cases between January 22, 2020, and July 19, 2020, in the analysis. Main outcome measureControl of COVID-19 was defined by: (i) elapsed time in days between the 10th case and the day of peak incidence of a county's local epidemic, among counties that bent their case curves, and (ii) doubling time of case counts within the first 30 days of a county's local epidemic for all counties that reported 10 or more cases. ResultsOnly 26% of eligible counties had bent their case curve in the first 6 months of the pandemic. Government health spending at the county level was not associated with better COVID-19 control in terms of either a shorter time to peak in survival analyses, or doubling time in generalized linear models. State-level public spending on hazard preparation and response was associated with a shorter time to peak among counties that were able to bend their case incidence curves. ConclusionsIncreasing resource availability for public health in local jurisdictions without thoughtful attention to bolstering the foundational capabilities inside health departments is unlikely to be sufficient to prepare the country for future outbreaks or other public health emergencies.

The role of local communities in the development of European Union rural areas

The purpose of this article is to present the results of the research on the role of local action groups (LAG) in the development of rural areas in the member states of the European Union (EU). The most important postulate of the investigation is the scientifi cally grounded and practice-tested statement that only by relying on rural communities it is possible to objectively determine the pressing problems that need to be solved within the boundaries of various rural areas. Moreover, with the help of rural population (especially its active part, youth, entrepreneurs, farmers) it is advisable to implement the social, economic, environmental projects developed there, in the positive results of which both rural residents and the state are interested. The scientific work uses analytical and review methods of analysis (including the discourse method), which (together with the widespread use of modern statistical information, reporting materials of the European Agricultural Fund for Rural Development (EAFRD), the content of the relevant legislation) made it possible to formulate a number of practice-oriented conclusions. Most of them relate to the possibilities of European rural communities (institutionalized in a certain way) to solve such problems of the countryside as rising unemployment, limited fi nancing for rural development, reduced public investment in the development of rural areas, sequestration of state spending on the development of the social sphere within the boundaries of rural areas, poverty and social insulation. In general, the European experience of encouraging local participation in achieving the goals and priorities of rural development put forward by society through the support of the LEADER / CLLD initiatives under the EU Common Agricultural Policy (CAP) not only has many positive consequences, but also includes time-tested practices, worthy of implementation in the modern conditions of the domestic environment.

The role of local communities in the development of European Union rural areas

The purpose of this article is to present the results of the research on the role of local action groups (LAG) in the development of rural areas in the member states of the European Union (EU). The most important postulate of the investigation is the scientifi cally grounded and practice-tested statement that only by relying on rural communities it is possible to objectively determine the pressing problems that need to be solved within the boundaries of various rural areas. Moreover, with the help of rural population (especially its active part, youth, entrepreneurs, farmers) it is advisable to implement the social, economic, environmental projects developed there, in the positive results of which both rural residents and the state are interested. The scientific work uses analytical and review methods of analysis (including the discourse method), which (together with the widespread use of modern statistical information, reporting materials of the European Agricultural Fund for Rural Development (EAFRD), the content of the relevant legislation) made it possible to formulate a number of practice-oriented conclusions. Most of them relate to the possibilities of European rural communities (institutionalized in a certain way) to solve such problems of the countryside as rising unemployment, limited fi nancing for rural development, reduced public investment in the development of rural areas, sequestration of state spending on the development of the social sphere within the boundaries of rural areas, poverty and social insulation. In general, the European experience of encouraging local participation in achieving the goals and priorities of rural development put forward by society through the support of the LEADER / CLLD initiatives under the EU Common Agricultural Policy (CAP) not only has many positive consequences, but also includes time-tested practices, worthy of implementation in the modern conditions of the domestic environment.

Pension expectations and strategies of Russian residents

In 2019, a pension reform started in Russia, as a result of which the retirement age is raising and the pensions of Russians should have been increased. The article discusses Russian citizens’ attitude to the pension reform, provides estimates of the desired size of the future pension, options for personal life financial planning at retirement age. A comparison of the level of the average assigned pension and main indicators of the standard of living of the population shows the insufficiency of the current replacement rate. For the majority, the state pension is the main source of income at retirement age. The calculations given in the article show that a decent pension can be achieved on the basis of a state and non-state pension combination. But the stimulation of funded pension programs in Russia does not work due to low incomes of the population and distrust in non-state pension funds.

ATTITUDE OF RUSSIANS TOWARDS THE PENSION SYSTEM AND PENSION FUNDS

In the Russian Federation pension system is undergoing some serious changes: freeze the pension in 2013, raising the retirement age in 2018, guarantee an annual indexing of pensions in the draft amendments to the Constitution in 2020, merger of the Pension Fund of Russia and the Social Insurance Fund into the Social Fund of Russia in January 2023 — all these changes influence on the pension system, pension funds and their perception by citizens. Since the state pension still does not provide a replacement rate of 40%, and for Russians who receive twice the average income, in 2018 the replacement rate was 22%, and by 2050 it will reach only 31% — it would be logical to assume an increase in the popularity of non-state pension products, which has not yet occurred. To analyze the reasons for this situation, a number of hypotheses were analyzed and a conclusion was made to confirm the theses about the dependence of the level of readiness of citizens to pension savings on such factors as income level, future orientation, financial literacy, a weak level of confidence in the pension system, dissatisfaction of some potential clients of non-government pension funds (hereinafter — NPF) with their current portfolio of products and conditions for them, as well as the availability of alternative sources of pension income.