Pension obligation bonds

Munnell, Alicia Haydock, Thad Calabrese, Ashby Monk, and Jean-Pierre Aubry. “Pension obligation bonds”. State and Local Pension Plans 9, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, January 2010. http://hdl.handle.net/2345/bc-ir:104254.
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Abstract

The brief's key findings are: (1) Some state and local governments issue Pension Obligation Bonds (POBs) to raise cash to cover their required pension contributions. (2) POBs allow governments to avoid increasing taxes in bad times and could reduce pension costs, but they pose considerable risks. (3) Those who issue POBs are often fiscally stressed and not well-positioned to handle the investment risk.

Title
Pension obligation bonds: Financial crisis exposes risks
Author
Munnell, Alicia Haydock
Calabrese, Thad
Monk, Ashby
Aubry, Jean-Pierre
School
Carroll School of Management
Discipline
Finance
Center
Center for Retirement Research
Genre
report
Date Issued
January 2010
Publisher
Center for Retirement Research at Boston College
Series Title
State and Local Pension Plans
Series Number
9
Version Identification
Version of record.
Persistent Link
http://hdl.handle.net/2345/bc-ir:104254
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
State and local pensions

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