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study of retirement plan designs for the state of colorado office of the
study of retirement plan designs for the state of colorado office of the

... plans was 6.6% of pay. When mandatory Social Security cost of 6.2% of pay (up to the maximum wage base) is added, the average cost of a retirement program in the private sector is over 12% of pay, about 3 percentage points higher than the current employer cost under PERA. When compared to private em ...
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... the years 2003 through 2006, receipts overshot target by large amounts. In 2006, for example, tax receipts exceeded what had been projected at budget time by €3.6bn or 9%. The forecasting errors were concentrated in those tax categories that are sensitive to activity levels in property and construct ...
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original article in English

... the demographic and economic conditions under which individuals, companies and the government itself must act in the following decades to carry out their respective planning efforts with regard to old age pensions. Because of this, it is clear for example that retirement arrangements require certain ...
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... • Per capita foodgrain output has declined over a long period, and especially since the beginning of this century. • Public procurement operations have been wound down. • The procurement prices offered for foodgrains have simply not been remunerative enough. Since mid-2002, the dumping of huge amoun ...
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Pensions crisis

The pensions crisis is a predicted difficulty in paying for corporate, state, and federal pensions in the United States and Europe, due to a difference between pension obligations and the resources set aside to fund them. Shifting demographics are causing a lower ratio of workers per retiree; contributing factors include retirees living longer (increasing the relative number of retirees), and lower birth rates (decreasing the relative number of workers, especially relative to the Post-WW2 Baby Boom). There is significant debate regarding the magnitude and importance of the problem, as well as the solutions.For example, as of 2008, the estimates for the underfunding of U.S. states' pension programs range from $1 trillion using the discount rate of 8% to $3.23 trillion using U.S. Treasury bond yields as the discount rate. The present value of unfunded obligations under Social Security as of August 2010 was approximately $5.4 trillion. In other words, this amount would have to be set aside today such that the principal and interest would cover the program's shortfall between tax revenues and payouts over the next 75 years.Some economists question the concept of funding, and, therefore underfunding. Storing funds by governments, in the form of fiat currencies, is the functional equivalent of storing a collection of their own IOUs. They will be equally inflationary to newly written ones when they do come to be used.Reform ideas are in three primary categories: a) Addressing the worker-retiree ratio, via raising the retirement age, employment policy and immigration policy; b) Reducing obligations via shifting from defined benefit to defined contribution pension types and reducing future payment amounts (by, for example, adjusting the formula that determines the level of benefits); and c) Increasing resources to fund pensions via increasing contribution rates and raising taxes.
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