The Governance of Public Pension Funds, Riddhi Mehta-Neugebauer (Labor Workshare Series, 6/7/2019)
Posted: 5/28/2019 (Local Events)
Riddhi Mehta-Neugebauer, PhD Candidate, UW Political Science
ABSTRACT: Traditionally, scholars have investigated the privatization of retirement security through the lens of pension reform, austerity measures, and the decline of defined benefit plans and the rise of defined contribution in countries across the world. However, few scholars have investigated the privatization of public pension fund investment. The privatization of investment, through both board governance and investment allocation in alternative assets, has a significant impact on the capacity of the state to fulfill its retirement obligations.
This paper investigates the relationship between board composition and pension investment privatization through a mixed effects longitudinal model of 111 state-level public pension funds from 2001 to 2017. I find that rather than board structure, board composition has a more significant impact on the likelihood of pension investment privatization. More specifically, the increase in state and plan-participant appointments on the board are associated with an increase in pension investment privatization. Similarly, pension funds that have an increase in the number of board members with financial experience are more likely to invest in pension privatization. Whereas, an increase in public sector union membership is correlated with a decrease in investment privatization.
Riddhi Mehta-Neugebauer is a Ph.D. student in Political Science whose research focuses on labor unions and the management of public pension funds. . Prior to coming to UW, she worked with a labor union on domestic and international corporate research campaigns. She has also spent time in rural India conducting livelihood research with grassroots organizations. Her previous academic background is in city and regional planning, with a bachelors from UC Berkeley and a Masters from UC Irvine.
FORMAT: The presenter’s paper will be circulated to registered attendees a week in advance of the workshare. Participants are expected to read the paper before the meeting and be prepared for a discussion. Please feel free to bring your lunch. Coffee will be served.
RSVP: To register for the workshare and receive the paper, please e-mail hbcls@uw.edu .
Date: 06/07/2019
Time: 12:30-2:00 PM
Location: Smith Hall, Room 320