An Examination and Comparison of the Florida Retirement System and the California Public Employees' Retirement System

Patrick Young

Date of Award

2008

Document Type

Thesis

Degree Name

Bachelors

Department

Social Sciences

First Advisor

Strobel, Frederick

Keywords

Florida Retirement System, FRS, California Public Employees' Retirement System, CalPERS, Defined Contribution, Defined Benefit, Actualial Soundness, Early Retirement, Death Benefits, Fink, John, Young, Patrick

Area of Concentration

Economics

Abstract

I look at how the Florida Retirement System compares to the California Public Employees� Retirement System, with observations applicable to other major retirement systems in the United States. The Florida Retirement System has a very large pension fund and good benefits. However, California is much larger than Florida, with substantially more capital at its disposal. This thesis looked at the theories behind the different modes of retirement planning. The states I have decided to examine, Florida and California, have some of the largest pension funds of the state retirement systems. Also, I look at the condition of both the Florida Retirement System and the California Public Employees� Retirement System. In order to use accurate numbers, I look at each of the annual reports from 2005-2006 and examine and compare the actuarial soundness, health care benefits, deficits borne by states, unfunded liabilities, early retirement issues, and death benefits of each state.

Rights

This bibliographic record is available under the Creative Commons CC0 public domain dedication. The New College of Florida, as creator of this bibliographic record, has waived all rights to it worldwide under copyright law, including all related and neighboring rights, to the extent allowed by law.

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