https://crr.bc.edu/wp-content/uploads/2019/07/SLP67.pdf
U.S. state and local pension funds manage over $4 trillion in retirement assets for 20 million active and retired plan members. Given the significance of these funds, proper oversight is vitally important to government officials, plan participants, and taxpayers alike. The challenges to effective pension fund governance have been well documented, and significant research has demonstrated that the characteristics of pension boards matter. This brief summarizes public pension fund governance, discusses key aspects of public pension boards, and presents additional evidence that a well-designed board relates to better plan outcomes.
