Download or read book New Trends in Pension Benefits and Retirement Provisions written by Olivia S. Mitchell and published by . This book was released on 2000 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book New Trends in Pension Benefit and Retirement Provisions written by Olivia S. Mitchell and published by . This book was released on 1999 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study illustrates and interprets changes in pension plan retirement formulas and benefit provisions over the last two decades, using extensive information on private sector pension plans gathered by the U.S. Department of Labor since 1980. Data generated from the Employee Benefits Survey (EBS) of medium and large firms shows that pension provisions have changed a great deal in companies that have traditionally been the most consistent providers of employer-sponsored retirement benefits in the US. In the defined benefit environment, vesting rules were loosened somewhat; plans have eased access to normal retirement; and pension benefit formulas have moved toward final rather than career earnings, with increased weight on straight-time pay. In addition, these plans became more integrated with social security, but the form of this integration has changed substantially. Defined benefit pension replacement rates appear to have fallen over time, though the time series is not complete. In addition, benefit caps remain in place, generally by limiting years of service in the formula; disability benefit provisions have also become more stringent; and it is increasingly possible to take a lump sum from one's defined benefit pension. The defined contribution environment has also seen substantial change, as documented in the BLS series. Participation and vesting rules appear most lenient for workers in 401(k) plans; most employees must contribute to their plans, generally as a function of earnings; and employee access to pension fund assets appears to be on the upswing over time. Participants in these plans have also gained access to diversified stock and bond funds, with fewer permitted to invest in own-employer stock, common stock funds and guaranteed insurance contracts. We conclude with a discussion of how future data collection efforts could be improved
Download or read book Trends in Pension Benefit Formulas and Retirement Provisions written by Olivia S. Mitchell and published by . This book was released on 1991 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Changes in pension plan retirement formulas and benefit provisions over the last decade are examined, drawing on data collected and tabulated by the U.S. Department of Labor's Employee Benefits Survey of medium and large firms. The evidence shows that pension provisions have changed a great deal over the last decade, among both defined benefit and defined contribution plans. In the defined benefit environment, participation and vesting rules changed substantially; early retirement became more accessible and benefits somewhat more generous; normal retirement ages declined; and pension benefits were increasingly likely to depend on final rather than career earnings. Benefit integration with social security also grew to almost two-thirds of all participants in defined benefit plans. Overall, though pension replacement rates rose slightly over time, benefit ceilings remained pervasive for work at older ages and disability benefit provisions became more stringent. Defined contribution pension plans also changed a great deal over the decade of the 1980s. Workers were increasingly likely to be covered by combinations of defined benefit and defined contribution plans, with the latter usually a savings and thrift plan permitting a lump sum distribution. Profit sharing and stock plans appear to have stagnated during the latter part of the 1980s.
Download or read book New Trends in Pension Benefit and Retirement Provisions written by and published by . This book was released on 1999 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Evolving Pension System written by William G. Gale and published by Rowman & Littlefield. This book was released on 2006-01-10 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Evolving Pension System examines the foundations and the future of the private pension system. It provides a broad overview of the underlying assumptions, characteristics, and effects of existing pension policy, as well as alternative views on how public policy toward pensions should evolve in the future. Contributors include Robert Clark (North Carolina State University), Eric Engen (Federal Reserve Board), William G. Gale (Brookings Institution), Theodore Groom (Groom Law Group, Chartered), Daniel Halperin (Harvard), Alicia Munnell (Boston College), Leslie Papke (Michigan State University), Joseph Quinn (Boston College), Sylvester Schieber (Watson Wyatt), John B. Shoven (Stanford), and Jack Vanderhei (Temple University and EBRI). William G. Gale is the Joseph A. Pechman Fellow in the Economic Studies program at the Brookings Institution. John B. Shoven is Charles R. Schwab Professor at Stanford University. Mark J. Warshawsky is director of research at the TIAA-CREF Institute.
Download or read book Pensions at a Glance 2019 OECD and G20 Indicators written by OECD and published by OECD Publishing. This book was released on 2019-11-27 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved.
Download or read book An Analysis of Pension Trends in the Provision of Retirement Income written by Jennifer Li-Ling Wang and published by . This book was released on 1998 with total page 470 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Varieties of Retirement Ages written by Elizabeth L. Meier and published by . This book was released on 1980 with total page 140 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 work longer 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 pension accounting. 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 was founded 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.
Download or read book Pensions at a Glance 2021 OECD and G20 Indicators written by OECD and published by OECD Publishing. This book was released on 2021-12-08 with total page 224 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2021 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the past two years. Moreover, the special chapter focuses on automatic adjustment mechanisms in pensions systems in OECD countries, discusses the usefulness and limitations of these policy instruments, and suggests ways to improve them in order to enhance the capacity of pension systems to fulfil their objectives.
Download or read book Private Pensions Series Regulating Private Pension Schemes Trends and Challenges written by OECD and published by OECD Publishing. This book was released on 2002-04-19 with total page 331 pages. Available in PDF, EPUB and Kindle. Book excerpt: This conference proceedings analyses the key policy implications arising from the growth of private pensions.
Download or read book Positioning Pensions for the Twenty First Century written by Michael S. Gordon and published by University of Pennsylvania Press. This book was released on 1997-04-29 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the United States comes to terms with the pending insolvency of social security, workers are increasingly pinning their hopes for retirement adequacy on employer-sponsored plans. Positioning Pensions for the Twenty-First Century analyzes the role of pensions in retirement security, examining how these programs will evolve to meet the challenges to our nation's retirement system. The book brings together a team of leading economists, corporate and labor specialists, actuaries, and policy experts to examine the future of retirement options within the context of emerging labor and business trends and innovative developments in the pension community. They show how a successful public and private pension system can be sustained and strengthened and demonstrate how employer pensions can be configured against a delicately financed social insurance system. The book's contributions examine where pensions have succeeded and failed over the last several decades and point to positive new developments in the pension arena. Its coverage includes innovative pension options such as hybrid and cash-balance plans; pension funding regulations; changes in GATT laws altering pension insurance premiums; and emerging developments concerning administrative costs and pension obligation bonds. It also features new research on defined contribution plan investment options and includes three case studies of participant-directed pension investments, telling how thousands of workers are allocating their pension savings in 401(k) and related plans. Positioning Pensions for the Twenty-First Century is essential reading for all managers, employees, and policymakers concerned with designing pension systems that can withstand the challenges of the next decade.
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 384 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 Pension Coverage written by Patrick J. Purcell and published by . This book was released on 1999 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Reforming Pensions written by Nicholas Barr and published by Oxford University Press. This book was released on 2009-11-30 with total page 261 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mandatory pensions are a worldwide phenomenon. However, with fixed contribution rates, monthly benefits, and retirement ages, pension systems are not consistent with three long-run trends: declining mortality, declining fertility, and earlier retirement. Many systems need reform. This book gives an extensive nontechnical explanation of the economics of pension design. The theoretical arguments have three elements: * Pension systems have multiple objectives--consumption smoothing, insurance, poverty relief, and redistribution. Good policy needs to bear them all in mind. * Good analysis should be framed in a second-best context-- simple economic models are a bad guide to policy design in a world with imperfect information and decision-making, incomplete markets and taxation. * Any choice of pension system has risk-sharing and distributional consequences, which the book recognizes explicitly. Barr and Diamond's analysis includes labor markets, capital markets, risk sharing, and gender and family, with comparison of PAYG and funded systems, recognizing that the suitable level of funding differs by country. Alongside the economic principles of good design, policy must also take account of a country's capacity to implement the system. Thus the theoretical analysis is complemented by discussion of implementation, and of experiences, both good and bad, in many countries, with particular attention to Chile and China.
Download or read book Innovations and Trends in Pension Plan Coverage Pension Type and Plan Design written by Olivia S. Mitchell and published by . This book was released on 1992 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retirement Provision in Scary Markets written by Hazel Bateman and published by Edward Elgar Publishing. This book was released on 2007-01-01 with total page 253 pages. Available in PDF, EPUB and Kindle. Book excerpt: The past few decades have witnessed a global move towards private provision for retirement through individual defined contribution pensions at the expense of publicly provided and employer-sponsored defined benefit pensions. As a consequence, workers and retirees are becoming increasingly exposed to uncertainties in financial, labour and economic markets. The contributors to this book analyse the implications for retirement income policy, workers and retirees in view of the current climate of heightened exposure to scary markets. The implications of a broad range of scary market scenarios are presented, and novel solutions prescribed. Retirement incomes across a number of countries including the US, the UK, Japan and Australia are explored, and uncertainties examined include: extreme stock price volatility; discontinuous labour market participation; and regulatory failure and macroeconomic instability. Concluding with the observation that regulatory reforms could be almost as scary as the underlying macroeconomic conditions, this book will prove a fascinating read for scholars, researchers, practitioners and policymakers with an interest in pensions and pension policy, financial economics and public sector economics.
