- The Oxford Handbook of U.S. Social Policy
- List of Contributors
- Acknowledgments
- The Fragmented American Welfare State: Putting the Pieces Together
- Social Provision before the Twentieth Century
- The Progressive Era
- The Great Depression and World War II
- From the Fair Deal to the Great Society
- The U.S. Welfare State Since 1970
- A Cross-National Perspective on the American Welfare State
- Cultural Influences on Social Policy Development
- Political Institutions and U.S. Social Policy
- Political Parties and Social Policy
- Interest Groups
- Constituencies and Public Opinion
- Race and Ethnicity in U.S. Social Policy
- Gender
- Social Security
- Private Pensions
- Medicare
- Long-Term Care for the Elderly
- Medicaid
- Temporary Assistance for Needy Families
- The Politics of Supporting Low-Wage Workers and Families
- Food Assistance Programs and Food Security
- Public Housing and Vouchers
- Social Security Disability Insurance and Supplemental Security Income
- Workers’ Compensation
- Unemployment Insurance
- Care and Work-Family Policies
- Homeownership Policy
- Private Health Insurance: Tax Breaks, Regulation, and Politics
- Pension and Health Benefits for Public-Sector Workers
- Social Programs for Soldiers and Veterans
- Poverty
- Inequality
- Citizenship
- Index
Abstract and Keywords
In the United States, retirement and health benefits make up a substantial proportion of the total compensation of public-sector workers. This chapter explores the history and the main characteristics of such retirement and health benefits, as they have developed in the United States. As shown, on average, these benefits tend to be more valuable than those provided to private-sector workers. Public-sector workers are more likely than their private-sector counterparts to be covered by a retirement plan and by employer-provided health insurance. Public-sector pension plans are more likely to be defined benefit plans than are private-sector plans. Many public-sector employers have promised their employees more in benefits than they have set aside to pay for those benefits. Estimates suggest that the 2,670 federal, state, and local retirement plans currently in operation are underfunded collectively by as much as $5 trillion, and public-sector health plans are probably underfunded by roughly $1 trillion.
Keywords: public-sector pensions, employer-provided health insurance, defined benefit plans, underfunding, United States
Lee Craig is Department Head, Alumni Distinguished Undergraduate Professor in the Department of Economics, North Carolina State University
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- The Oxford Handbook of U.S. Social Policy
- List of Contributors
- Acknowledgments
- The Fragmented American Welfare State: Putting the Pieces Together
- Social Provision before the Twentieth Century
- The Progressive Era
- The Great Depression and World War II
- From the Fair Deal to the Great Society
- The U.S. Welfare State Since 1970
- A Cross-National Perspective on the American Welfare State
- Cultural Influences on Social Policy Development
- Political Institutions and U.S. Social Policy
- Political Parties and Social Policy
- Interest Groups
- Constituencies and Public Opinion
- Race and Ethnicity in U.S. Social Policy
- Gender
- Social Security
- Private Pensions
- Medicare
- Long-Term Care for the Elderly
- Medicaid
- Temporary Assistance for Needy Families
- The Politics of Supporting Low-Wage Workers and Families
- Food Assistance Programs and Food Security
- Public Housing and Vouchers
- Social Security Disability Insurance and Supplemental Security Income
- Workers’ Compensation
- Unemployment Insurance
- Care and Work-Family Policies
- Homeownership Policy
- Private Health Insurance: Tax Breaks, Regulation, and Politics
- Pension and Health Benefits for Public-Sector Workers
- Social Programs for Soldiers and Veterans
- Poverty
- Inequality
- Citizenship
- Index
