Download or read book Defined Contribution Retirement Plans Around the World written by and published by . This book was released on 1998 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Living with Defined Contribution Pensions written by Olivia S. Mitchell and published by University of Pennsylvania Press. This book was released on 1998-05-29 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: Table of Contents

Download or read book Matching Contributions for Pensions written by Richard Hinz and published by World Bank Publications. This book was released on 2012-10-26 with total page 357 pages. Available in PDF, EPUB and Kindle. Book excerpt: The use of matching contributions to enhance the participation and level of savings in pensions system has now been in use for nearly three decades in a number of high income countries. Increasingly, countries across the full range of economic development are looking to the design as a means of addressing the low rates of participation in formal pension and other retirement savings systems. A number of countries have recently introduced innovations in their pension systems that significantly rely on contributions matches and related types of direct subsidies to provide incentives for groups that mandates and other indirect methods such as preferential tax treatment have been unsuccessful in reaching. There is particular interest among developing countries in utilizing this design to extend coverage to informal sector and low income workers that typically do not pay income related taxes. This volume provides descriptions and analysis of the design, experience and outcomes achieved in the high income countries where there information about the dynamics and outcomes that this approach has achieved is not beginning to emerge. It also reviews new efforts to use the design in a number of other settings in which the matching contributions have been included as a significant element in reform of the pension system. The review of the experience with matching contribution across this full range of settings provides important observations and some initial lessons for policy makers and analysts who may be considering or evaluating the use of this approach to increase pension coverage.

Download or read book The Retirement Plan Solution written by Don Ezra and published by John Wiley & Sons. This book was released on 2009-06-08 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise For The Retirement Plan Solution "Short, clear, complete, and always interesting. Best book on DC plans and what we should do-now." —Charles D. Ellis, author, Winning the Loser's Game "At a time when the world is in turmoil, along with retirement expectations, the authors have hit a home run. After reading this book, I have a plan. Read it for your path to retirement security." —Dallas Salisbury, President and CEO, Employee Benefit Research Institute "The Retirement Plan Solution offers a refreshing and provocative perspective on how to assess retirement needs, save to meet these needs, and manage the retirement payout process. In this time of financial turmoil, employees, plan sponsors, and financial advisors will find this highly practical resource volume both useful and humorous." —Olivia S. Mitchell, Director, Pension Research Council, Wharton School "The Retirement Plan Solution is a map to the future of 401(k) retirement plans. But it is not just a theoretical view of what could be. Instead, the authors describe the needs and trends that are already here, and then describe the changes that are developing to meet those needs. It is about the tomorrow that is happening today." —Fred Reish, Managing Director, Reish Luftman Reicher & Cohen "The respected authors have created a readable, timely, and very helpful book on all aspects of retirement planning. The suggestions are practical, the information is concise, and the book is highly recommended for anyone that is interested in sound financial planning." —Moshe A. Milevsky, PhD, Finance Professor, York University, Toronto, Canada "This is a must-read for people working in the retirement industry, as well as those who simply care about how to improve their chance of reaching a financially secure retirement. In a clear and simple fashion, the authors deliver one of the best books to date on inefficiencies in the current DC plan and potential improvements." —Peng Chen, President, Ibbotson Associates

Download or read book Defined Contribution Plans for Retirement written by Bruce E. Patterson and published by Nova Science Publishers. This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past 25 years, defined contribution plans, including 401(k) plans, have become the most prevalent form of employer-sponsored retirement plan in the United States. The majority of assets held in these plans are invested in stocks and stock mutual funds, and the decline in the major stock market indices in 2008 greatly reduced the value of many families' retirement savings. The effect of stock market volatility on families' retirement savings is just one issue of concern to Congress with respect to defined contribution retirement plans. This book examines fee considerations and country comparisons relating to defined contribution plans for retirement with a focus on increasing access to employer-sponsored plans, raising participation and contribution rates, helping participants make better investment choices, requiring clearer disclosure of fees charged to plan participants, preserving retirement savings when workers face economic hardship or change jobs, and promoting life annuities as a source of retirement income.

Download or read book New Policies for Mandatory Defined Contribution Pensions written by Gregorio Impavido and published by World Bank Publications. This book was released on 2010-06-04 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mandatory defined contribution pension markets are present in a growing number of countries around the world. But despite their popularity, policymakers continue to struggle with two key policy concerns. On the one hand, a number of design shortcomings encourages pension firms to charge high administrative fees. On the other hand, the global crisis that started in 2007 has reignited the debate on whether pension participants bear excessive investment risk. Both are valid policy concerns as their incidence can imply higher than expected levels of poverty among old age individuals. Both concerns have the same root problem---the limited capacity of individuals to choose what is best for them. This, in turn, stems from a combination of inadequate financial education, bounded rationality and the use of simplistic 'rules of thumb' that produce systematic biases in the decision making process of individuals. While improving financial education is an obvious avenue to pursue, this book is more concerned with design features that can exploit these systematic biases to protect consumers from themselves. 'New Policies for Mandatory Defined Contribution Pensions: Industrial Organization Models and Investment Products' (i) discusses the main implications for the functioning of mandatory defined contribution pensions of consumers inability to make rational choices; (ii) describes how jurisdictions have tried to address these problems through ad hoc policy interventions; and (iii) proposes new policy directions in the areas of industrial organization models and investment products to address these concerns more effectively. Written for practitioners and researchers around the world, this book provides access to new thinking on mandatory defined contribution pension systems and it makes an important contribution to the on-going policy debate on how to best structure mandatory defined contribution pillars.

Download or read book Defined Contribution Plans written by Government Accountability Office and published by CreateSpace. This book was released on 2013-08-28 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Roughly 40 percent of all U.S. workers participate in pension plans offered by their employers.2 Under Title I of the Employee Retirement Income Security Act of 1974 (ERISA), employers are permitted to offer their employees two broad types of retirement plans, defined benefit (DB) and DC. Over the past three decades, there has been a general shift by employers away from DB plans to DC plans, the most predominant of which is the 401(k) plan.

Download or read book Fundamentals of Private Pensions written by Dan Mays McGill and published by Oxford University Press, USA. This book was released on 2005 with total page 916 pages. Available in PDF, EPUB and Kindle. Book excerpt: For almost five decades, Fundamentals of Private Pensions has been the most authoritative text and reference book on private pensions in the world. The revised and updated Eighth Edition adds to past knowledge while providing exciting new perspectives on the provision of retirement income. This new edition is organized into six main sections dealing with a variety of separable pension issues. Section I provides an introductory discussion on the historical evolution of the pension movement and how pensions fit into the patchwork of the whole retirement income security system in the United States. It includes a discussion about the economics of the tax incentives that have played a role in stimulating pension offerings and in the structure of the benefits provided. Section 2 lays out the regulatory environment in which private pension plans operate. Section 3 investigates the various forms of retirement plans that are available to workers to determine how they are structured in practical terms. Section 4 focuses on the economics of pensions. Several of the chapters in this section update and refine material from the prior. New chapters in this volume describe the conversion of some traditional pensions to new hybrid forms, including cash balance and pension equity plans, and the growing phenomenon of phased retirement and the issues raised for employer-sponsored pensions. Section 5 explores the funding and accounting environments in which private employer-sponsored retirement plans operate. The concluding section investigates the handling of assets in employer-sponsored plans and their valuation as well as the insurance provision behind the benefit promises implied by the plans. This latest edition of Fundamentals of Private Pensions will prove invaluable reading for both academics and professionals working in the area of pensions and pension management.

Download or read book Successful Defined Contribution Investment Design written by Stacy L. Schaus and published by John Wiley & Sons. This book was released on 2017-02-07 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Start-to-finish guidance toward building and implementing a robust DC plan Successful Defined Contribution Investment Design offers a comprehensive guidebook for fiduciaries tasked with structuring and implementing a 401(k) or other defined contribution (DC) pension plan. More than a collection of the usual piecemeal information, this book seeks to offer a complete, contemporary framework for plan design, together with tested methodologies and analytic techniques to help streamline plan monitoring, management and improve participant outcomes. Examples from plan sponsors provide on-the-ground insight while suggestions from DC consultants add expert perspective. Views from ERISA expert counsel provide additional understanding—along with input from academic thought leaders. Finally, investment evaluation and analysis is joined with participant savings and asset allocation data to look prospectively at potential outcomes, and case studies illustrate real-world implementation of objective-aligned asset allocation such as custom target-date strategies. Though the focus is primarily on U.S. plan design, author perspectives from countries including Australia, the United Kingdom and Canada provide relevant and helpful viewpoints for both new and experienced plan fiduciaries. For the vast majority of workers, DC plans have replaced traditional defined benefit pension plans as the primary source of employer-provided retirement income. This book provides comprehensive guidance to help you construct a plan to help workers to retire with confidence. Adopt a framework for DC evaluation and structure Learn new methodologies for investment choice evaluation Use the innovative PIMCO Retirement Income Cost Estimate—or PRICE—to help quantify the amount of money a worker needs to create and stay on track to building a real income stream in retirement Examine methodologies used at major companies in the U.S. and globally DC plans are the most rapidly growing retirement market in the world, yet sources of consolidated structural and analytical guidance are lacking. Successful Defined Contribution Investment Design fills the gap with a comprehensive handbook that covers the bases to help you develop an objective-aligned defined contribution plan.

Download or read book Nonfinancial Defined Contribution Pension Schemes in a Changing Pension World written by Robert Holzmann and published by World Bank Publications. This book was released on 2012-06-21 with total page 342 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pensions are under scrutiny worldwide in view of increasing life expectancy and adverse demographics. This volume offers an overview of unfunded individual accounts introduced in the mid-1990s in Italy, Latvia, Poland and Sweden in order to assure a successful adulthood and an even better start for the off-springs.

Download or read book Nonfinancial Defined Contribution Pension Schemes in a Changing Pension World written by Robert Holzmann and published by World Bank Publications. This book was released on 2012-11-01 with total page 535 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nonfinancial Defined Contribution (NDC) schemes are now in their teens. The new pension concept was born in the early 1990s, implemented from the mid-1990s in Italy, Latvia, Poland and Sweden, legislated most recently in Norway and Egypt and serves as inspiration for other reform countries. This innovative unfunded individual account scheme created high hopes at a time when the world seemed to have been locked into a stalemate between piecemeal reforms of ailing traditional defined benefit schemes and introducing pre-funded financial account schemes. The experiences and conceptual issues of NDC in its childhood were reviewed in a prior anthology (Holzmann and Palmer, 2006). This new anthology published in 2 volumes serves to review its adolescence and with the aim of contributing to a successful adulthood. Volume 1 on Progress, Lessons, Implementation includes a detailed analysis of the experience and the key policy lessons in the old and new pilot countries and the implementation of NDCs elements in other reform countries. This volume 2 on Gender, Politics, Financial Stability includes deeper and new analyses of these issues that found little or no attention in the 2006 publication. The gender perspective includes 5 chapters with, perhaps, the most complete discussion on gender and pension issues available to date. The financial stability perspective addresses in 6 chapters critical micro- and macroeconomic aspects such as the balancing mechanism, the use of a reserve fund, the handling of legacy costs, and technicalities related to the management of the longevity risk when designing annuities. While the 2 volumes address many issues it also opens a number of new questions for which good answers are not yet readily available.

Download or read book What You Should Know about Your Retirement Plan written by U.S. Department of Labor and published by GPO FCIC. This book was released on 2006 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: Helps you understand your employer's retirement savings plan, know what information you should review periodically and where to go for help with questions. Explains when and how you can receive retirement benefits, the responsibilities of those who manage

Download or read book Global Pension Challenges written by Patrick J. Ring and published by Taylor & Francis. This book was released on 2024-03-25 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: National pension systems face a range of tough social and economic demands and pressures. These are complex to navigate, especially in a twenty-first century world that has ushered in global uncertainty and pressing challenges - even threatening the planet’s very sustainability – with implications for pensions that policymakers, financial services providers and individuals themselves must address. This book probes, and unpacks, what pension systems aim to achieve, the uncertainties they face and how they are attempting to resolve them. Analysing pension provision from the systemic, political-economy and individual perspectives, it sets out and contextualises commonalities and differences in pension systems across the globe, looking at current developments in both public and private pension provision, structures and regulation. Moreover, the reader is encouraged to question how national pension systems can best serve their populations and ensure the ‘sustainability’ of later-life incomes in the light of today’s global pension challenges. Global Pension Challenges: Pensions, Saving and Retirement in the Twenty‐First Century is an essential read for business, finance and social-policy academics and students, those working in the pensions industry and in the areas of welfare reform and advocacy, as well as the general public wishing to know more about the retirement issues we will all face in the coming years.

Download or read book Progress and Challenges of Nonfinancial Defined Contribution Pension Schemes written by Robert Holzmann and published by World Bank Publications. This book was released on 2019-10-18 with total page 441 pages. Available in PDF, EPUB and Kindle. Book excerpt: The individual account-based but unfunded approach to mandated public pension systems is a reform benchmark for all pension schemes, promising fair and financially sustainable benefits. Nonfinancial defined contribution (NDC) pension schemes originated in Italy and Sweden in the 1990s, were then adopted by Latvia, Norway, and Poland, envisaged but not implemented in various other countries, such as Egypt and Russia, and remain under discussion in many nations around the world, such as China and France. In its complete form, the approach also comprises budget-financed basic income provisions and mandated or voluntary funded provisions. Volume 1 of this book offers an assessment of countries that were early adopters before addressing key aspects of policy implementation and design review, including how best to combine basic income provisions with an NDC scheme, how to deal with heterogeneity in longevity, and how to adjust NDC scheme design and labor market policies to deliver on reform expectations. Volume 2 addresses a second set of issues, including the gender pension gap and what family policies can do about it within the NDC framework, labor market issues and administrative challenges of NDC schemes and how countries are coping, the role of communication in these pension schemes, the complexity of cross-border pension taxation, and much more. Progress and Challenges of Nonfinancial Defined Contribution Pension Schemes is the third in a series of books analyzing the progress, challenges, and adjustment options of this reform revolution for mandated public pension systems. 'Pension reform is a major issue in many countries. The development of the nonfinancial defined contribution pension plan in the 90's was a major advance in pension design. By reporting actual country experiences and exploring properties of plan designs, this latest collection of essays is a valuable contribution, well worth reading.' Peter Diamond Professor at Massachusetts Institute of Technology; 2010 winner of the Nobel Memorial Prize in Economic Sciences 'A highly stimulating publication for policy makers and researchers alike. It pushes the analytical frontier for policy challenges that all public pension schemes are confronted with but that the nonfinancial defined contribution approach promises to handle best.' Noriyuki Takayama President, Research Institute for Policies on Pension and Aging, Tokyo, and professor emeritus, Hitotsubashi University, Tokyo 'In a changing world where pensions are more than ever linked to labor markets, communication tools, and flexibility considerations, this anthology provides a unique up-to-date analysis of nonfinancial defined contribution pension schemes. By mixing international experiences and theoretical studies, it demonstrates the high adaptability of such pension schemes to changing social challenges.' Pierre Devolder Professor of Finance and Actuarial Sciences, Catholic University of Louvain, Belgium

Download or read book The Simple r Algebra of Pension Plans written by Dimitri Vittas and published by World Bank Publications. This book was released on 1993 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: Unless the real rate of interest exceeds the growth rate of real wages by a significant margin, payment of a reasonable pension rate requires a high contribution rate or a high active worklife ratio.

Download or read book Reshaping Retirement Security written by Raimond Maurer and published by Oxford University Press. This book was released on 2012-09-27 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The worldwide financial crisis has wrought deep changes in capital and labor markets, old-age retirement systems, and household retirement and consumption patterns. Confidence has been shaken in both the traditional defined benefit and defined contribution plans. Around the world, plan sponsors, fiduciaries, policymakers, and households have gained a new awareness of retirement risk. When pressed to reform post-crisis, many would recommend enhancing financial advice for plan participants, emphasizing flexibility and the positive effect of working another one or two years to make up for investment losses in the downturn. Adding to this is the continuing need for financial education, essential as the retirement system moves increasingly toward personal account pensions. Perhaps most important of all is the need for greater understanding of risk throughout the retirement security system, along with new approaches to re-engineering retirement pensions. This volume explores the lessons to be learnt for retirement planning and long-term financial security in view of the massive shocks to stock markets, labour markets, and pension plans resulting from the financial crisis. It aims to rethink retirement in the new economic era, including the resilience of defined contribution plans and how defined benefit plans reacted to the financial crisis.

Download or read book Reinventing the Retirement Paradigm written by Robert L. Clark and published by OUP Oxford. This book was released on 2005-08-11 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores how rising pension and healthcare costs, along with workforce aging, are affecting pension and retirement planning around the world. Many middle-aged workers now realize that they will have to work longer than intended, as they begin to recognize that their retirement resources will be inadequate to finance retirement consumption. Volatile capital markets, rising medical-care costs, and low saving rates make retirement behavior and policy a moving target.Olivia Mitchell, executive director of The Pension Research Council at Wharton, and Robert L. Clark, Professor of Business Management and Economics at North Carolina State University, explore these themes with colleagues, touching on a diverse set of issues ranging from employment trends to pension accounting and investment, to retirement system overhaul. They illustrate how employers are actively reformulating the meaning of work and retirement, seeking to encourage more people to worklonger than ever before in the face of projected labor shortages. At the same time, public and private trust in traditional pension offerings is rapidly eroding, as companies alter, amend, and terminate their conventional plans in the face of poor investment performance and new methods of pensionaccounting. Experts from the UK, the US, Japan, Sweden, and Canada offer international perspectives on the evolving institutions of retirement practice.This book provides readers a range of insights and strategies not available in other volumes, and it represents an invaluable addition to the PRC/OUP series. It will be particularly valuable for managers working toward more efficient pension plans; to scholars and policymakers seeking to maximize pension design and effectiveness; and to actuaries and tax specialists concerned with pension regulation. The Pension Research Council at the Wharton School of the University of Pennsylvania wasfounded 50 years ago to encourage research and teaching on pensions and retirement security. Council projects address the long-term issues that underlie contemporary concerns and seek to broaden public understanding of these complex arrangements through research into their social, economic, legal,actuarial, and financial foundations of privately and publicly-provided benefits.