Determinants of local government pension funding: Empirical evidence from Florida

The financial community is well aware that continued underfunding of state and local government pension plans poses many public policy and fiduciary management concerns. However, a well-defined theoretical rationale has not been developed to explain why and how public sector pension plans underfund. This study uses three methods: a survey of national pension experts, an incomplete covariance panel method, and field interviews.^ A survey of national public sector pension experts was conducted to provide a conceptual framework by which underfunding could be evaluated. Experts suggest that plan design, fiscal stress, and political culture factors impact underfunding. However, experts do not agree with previous research findings that unions actively pursue underfunding to secure current wage increases.^ Within the conceptual framework and determinants identified by experts, several empirical regularities are documented for the first time. Analysis of 173 local government pension plans, observed from 1987 to 1992, was conducted. Findings indicate that underfunding occurs in plans that have lower retirement ages, increased costs due to benefit enhancements, when the sponsor faces current year operating deficits, or when a local government relies heavily on inelastic revenue sources. Results also suggest that elected officials artificially inflate interest rate assumptions to reduce current pension costs, consequently shifting these costs to future generations. In concurrence with some experts there is no data to support the assumption that highly unionized employees secure more funding than less unionized employees.^ Empirical results provide satisfactory but not overwhelming statistical power, and only minor predictive capacity. To further explore why underfunding occurs, field interviews were carried out with 62 local government officials. Practitioners indicated that perceived fiscal stress, the willingness of policymakers to advance funding, bargaining strategies used by union officials, apathy by employees and retirees, pension board composition, and the level of influence by internal pension experts has an impact on funding outcomes.^ A pension funding process model was posited by triangulating the expert survey, empirical findings, and field survey results. The funding process model should help shape and refine our theoretical knowledge of state and local government pension underfunding in the future. ^

Modeling of shape memory alloys with plasticity

Shape memory alloys are a special class of metals that can undergo large deformation yet still be able to recover their original shape through the mechanism of phase transformations. However, when they experience plastic slip, their ability to recover their original shape is reduced. This is due to the presence of dislocations generated by plastic flow that interfere with shape recovery through the shape memory effect and the superelastic effect. A one-dimensional model that captures the coupling between shape memory effect, the superelastic effect and plastic deformation is introduced. The shape memory alloy is assumed to have only 3 phases: austenite, positive variant martensite and negative variant martensite. If the SMA flows plastically, each phase will exhibit a dislocation field that permanently prevents a portion of it from being transformed back to other phases. Hence, less of the phase is available for subsequent phase transformations. A constitutive model was developed to depict this phenomena and simulate the effect of plasticity on both the shape memory effect and the superelastic effect in shape memory alloys. In addition, experimental tests were conducted to characterize the phenomenon in shape memory wire and superelastic wire. ^ The constitutive model was then implemented in within a finite element context as UMAT (User MATerial Subroutine) for the commercial finite element package ABAQUS. The model is phenomenological in nature and is based on the construction of stress-temperature phase diagram. ^ The model has been shown to be capable of capturing the qualitative and quantitative aspects of the coupling between plasticity and the shape memory effect and plasticity and the super elastic effect within acceptable limits. As a verification case a simple truss structure was built and tested and then simulated using the FEA constitutive model. The results where found to be close the experimental data. ^

Color-based surface reflectance separation for scene illumination estimation and rendering

Given the importance of color processing in computer vision and computer graphics, estimating and rendering illumination spectral reflectance of image scenes is important to advance the capability of a large class of applications such as scene reconstruction, rendering, surface segmentation, object recognition, and reflectance estimation. Consequently, this dissertation proposes effective methods for reflection components separation and rendering in single scene images. Based on the dichromatic reflectance model, a novel decomposition technique, named the Mean-Shift Decomposition (MSD) method, is introduced to separate the specular from diffuse reflectance components. This technique provides a direct access to surface shape information through diffuse shading pixel isolation. More importantly, this process does not require any local color segmentation process, which differs from the traditional methods that operate by aggregating color information along each image plane. ^ Exploiting the merits of the MSD method, a scene illumination rendering technique is designed to estimate the relative contributing specular reflectance attributes of a scene image. The image feature subset targeted provides a direct access to the surface illumination information, while a newly introduced efficient rendering method reshapes the dynamic range distribution of the specular reflectance components over each image color channel. This image enhancement technique renders the scene illumination reflection effectively without altering the scene’s surface diffuse attributes contributing to realistic rendering effects. ^ As an ancillary contribution, an effective color constancy algorithm based on the dichromatic reflectance model was also developed. This algorithm selects image highlights in order to extract the prominent surface reflectance that reproduces the exact illumination chromaticity. This evaluation is presented using a novel voting scheme technique based on histogram analysis. ^ In each of the three main contributions, empirical evaluations were performed on synthetic and real-world image scenes taken from three different color image datasets. The experimental results show over 90% accuracy in illumination estimation contributing to near real world illumination rendering effects. ^

Interactions between nutrient availability and hydroperiod shape macroinvertebrate communities in Florida Everglades marshes

Hydroperiod and nutrient status are known to influence aquatic communities in wetlands, but their joint effects are not well explored. I sampled floating periphyton mat and flocculent detritus (floc) infaunal communities using 6-cm diameter cores at short- and long-hydroperiod and constantly inundated sites across a range of phosphorus (P) availability (total phosphorus in soil, floc and periphyton). Differences in community structure between periphyton and floc microhabitats were greater than any variation attributable to hydroperiod, P availability, or other spatial factors. Multivariate analyses indicated community structure of benthic-floc infauna was driven by hydroperiod, although crowding (no. g−1 AFDM) of individual taxa showed no consistent responses to hydroperiod or P availability. In contrast, community structure of periphyton mat infauna was driven by P availability, while densities of mat infauna (no. m−2) were most influenced by hydroperiod (+correlations). Crowding of mat infauna increased significantly with P availability in short-hydroperiod marshes, but was constant across the P gradient in long-hydroperiod marshes. Increased abundance of floating-periphyton mat infauna with P availability at short-hydroperiod sites may result from a release from predation by small fish. Community structure and density were not different between long-hydroperiod and constantly inundated sites. These results have implications for the use of macroinvertebrates as indicators of water quality in wetlands and suggest the substrate sampled can influence interpretation of ecological responses observed in these communities.