EQUITY CONSIDERATIONS IN PUBLIC SECTOR RETIREMENT SYSTEM GOVERNANCE: A CASE STUDY OF THE TENNESSEE CONSOLIDATED RETIREMENT SYSTEM

RICHARD HANNAH

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DOI: 10.2190/194F-Q7Y4-WGBE-QKAP

Abstract

Both public and private sector pension systems share the distinction of having little research attention given to detailed aspects of system governance. However, the public sector's more liberal access to information invites such inquiry. From the potential range of study concerning system governance, the topic of equity is the subject of this article. Whether or not associations, unions, or otherwise-cohesive groups of employees have direct representation in such systems of governance is an issue of local legislative control. Still, public sector employees have a vital stake in how their retirement welfare is deliberated and decided by the authorities governing their systems. This article illuminates some of the equity principles employed by the deliberative body, the Council on Pensions and Insurance, of the Tennessee Consolidated Retirement System.

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