Download or read book Retirement Security and Defined Contribution Plans written by United States. Congress. House. Committee on Ways and Means and published by . This book was released on 2002 with total page 120 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retirement Security written by United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Health, Employment, Labor, and Pensions and published by . This book was released on 2011 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retirement Security and Defined Benefit Pension Plans written by United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight and published by . This book was released on 2003 with total page 122 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retirement Security and Defined Contribution Pension Plans written by Jack VanDerhei and published by . This book was released on 2008 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: Proposals have been suggested recently that would attempt to transfer part or all of the investment risk inherent in defined contribution plans from the employee to another entity. Although the party initially exposed to said risk varies among the proposals, the likely targets would be the employer, a government agency (perhaps the Pension Benefit Guaranty Corporation) and/or a private insurance company. While the cost of the guarantees and/or financial uncertainty inherent in such an arrangement may be borne by the employer at least initially, it is unlikely that, in the long-term, such a shift in risk-bearing would not somehow alter the provisions of the existing defined contribution plans. It is obviously impossible to model the financial consequences of such proposals until additional detail is provided; however, a highly stylized example of one method of achieving this objective can be readily simulated.
Download or read book Rescuing Retirement written by Teresa Ghilarducci and published by Columbia University Press. This book was released on 2018-01-23 with total page 177 pages. Available in PDF, EPUB and Kindle. Book excerpt: Retirement shouldn’t be just for the rich: “Finally, a practical plan to address Americans’ lack of adequate retirement savings.”—Michael Bloomberg Everyone deserves to be able to retire with dignity, but this core feature of the social contract is in jeopardy. Companies have swerved away from pensions, and most of the workforce has woefully inadequate retirement savings. If we don’t act to fix this broken system, rates of impoverishment for senior citizens threaten to skyrocket, and tens of millions of Americans reaching retirement age in the coming decades will be forced to delay retirement and will experience a dramatic drop in their standard of living. In Rescuing Retirement, economist Teresa Ghilarducci and billionaire businessman Tony James offer a comprehensive yet simple plan to help workers save for retirement, increase retirement savings by earning higher returns, and guarantee lifelong income for everyone. Built on people’s own money in individual Guaranteed Retirement Accounts, the plan requires no new taxes, no more bureaucracy, and no increase in the deficit. Speaking to Americans’ growing anxiety about their ability to retire, Rescuing Retirement provides answers to anyone wanting to understand the growing movement to protect a period of life once considered a deserved time of rest and creativity and offers a practical guide to the future of secure retirement. “Ghilarducci and James never slip into wonk-speak or jargon, and lay readers will appreciate the way the authors make sense of complex economic issues.”—Publishers Weekly
Download or read book Wealth After Work written by William G. Gale and published by Brookings Institution Press. This book was released on 2021-07-27 with total page 406 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pensions and retirement saving plans have helped millions of households build financial security. But tens of millions of people have been left behind, without access to these wealth accumulation vehicles. For many others, the plans they have do not ensure financial security in retirement. The problems that underlie these failures can be addressed. This book proposes concrete, practical ways to make dependable retirement income accessible for all Americans—not just those with means. Individual accounts have eclipsed traditional pensions as the primary vehicle for retirement saving in the United States—a shift that underlies many sources of retirement insecurity. The 401(k) plan and similar accounts have increased financial security for many people but have done nothing for millions more. Many of those who do have such plans are burdened with the need to make numerous saving, investment, and withdrawal decisions that stress their financial acumen. Financial advice that is unbiased, unconflicted, and affordable is often difficult to find. Managing wealth in retirement—especially the need to convert retirement savings into steady income—poses significant challenges that current financial instruments and practices do not adequately address. Economic downturns like the Great Recession and the COVID-19 pandemic increase financial insecurity and make addressing these issues more urgent. Written by noted experts in the field, Wealth After Work offers practical solutions that address these concerns. The proposals show how policymakers can help all Americans gain access to retirement savings accounts, obtain better information about their savings choices, and better manage their wealth in retirement. By proposing solutions that build on, rather than replace the existing system, the book provides a nuanced, practical guide to reform that would benefit all Americans.
Download or read book Safeguarding America s Retirement Security written by United States. Congress. Senate. Committee on Governmental Affairs. Subcommittee on Financial Management, the Budget, and International Security and published by . This book was released on 2004 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retirement Security written by United States. Government Accountability Office and published by . This book was released on 2016 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: Defined contribution (DC) plans, in which individuals save for their own retirement, have become the dominant form of retirement plan for U.S. workers. However, not all workers have access to or participate in such plans through their employer. DC plans also shift more risk to participants compared to traditional defined benefit (DB) pension plans. For example, a worker often needs to decide to participate in a DC plan, make regular contributions, and decide how to invest those savings before retirement. GAO was asked to review recent trends and future prospects for DC plan savings. This report focuses on 1) recent trends in DC plan participation and account savings, and 2) how much households could potentially save in DC plans over their careers, and how key individual and employer decisions affect plan saving. GAO analyzed household financial data from the Federal Reserve's triennial Survey of Consumer Finances (for 2004 through 2013, the most recent available). GAO also analyzed projected DC savings for a cohort of individuals born in 1997 using microsimulation models developed by the Policy Simulation Group. These simulation models allowed GAO to analyze the projected effect of certain decisions made by the employer and plan participant on DC savings at retirement. The selected simulations were informed by a review of the literature and interviews with retirement experts. GAO is making no recommendations in this report.
Download or read book Employee Pensions written by Teresa Ghilarducci and published by Cornell University Press. This book was released on 2007 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Describes policy directions, especially defined benefit plans and defined contribution plans, and their implications for both employers and employees. Reflects on issues of partial retirement, multi-employers plans, savings plans, and the potential and pitfalls of US Federal pension policy.
Download or read book Retirement Security written by United States Government Accountability Office and published by Createspace Independent Publishing Platform. This book was released on 2017-09-23 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Defined contribution (DC) plans, in which individuals save for their own retirement, have become the dominant form of retirement plan for U.S. workers. However, not all workers have access to or participate in such plans through their employer. DC plans also shift more risk to participants compared to traditional defined benefit (DB) pension plans. For example, a worker often needs to decide to participate in a DC plan, make regular contributions, and decide how to invest those savings before retirement. GAO was asked to review recent trends and future prospects for DC plan savings. This report focuses on 1) recent trends in DC plan participation and account savings, and 2) how much households could potentially save in DC plans over their careers, and how key individual and employer decisions affect plan saving. GAO analyzed household financial data from the Federal Reserve's triennial Survey of Consumer Finances (for 2004 through 2013, the most recent available). GAO also analyzed projected DC savings for a cohort of individuals born in 1997 using microsimulation models developed by the Policy Simulation Group. These simulation models allowed GAO to analyze the projected effect of certain decisions made by the employer and plan participant on DC savings at retirement. The selected simulations were informed by a review of the literature and interviews with retirement
Download or read book A Pension Double Header written by United States. Congress. Senate. Committee on Health, Education, Labor, and Pensions. Subcommittee on Retirement Security and Aging and published by . This book was released on 2005 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
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 Private Pensions and Public Policies written by William G. Gale and published by Rowman & Littlefield. This book was released on 2004-04-21 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt: The private pension system, together with Social Security, has provided millions of Americans with income security in retirement. But over the past thirty years, pension coverage has stagnated, leaving behind some vulnerable groups. Defined contribution plans have exposed workers to greater investment risk, while cash balance and other hybrid plans may have adverse effects on older workers caught in the transition. Pension regulations, infamous for their complexity, can be bewildering to policy analysts and policymakers. Private Pensions and Public Policies sheds timely and much-needed light on specific issues within the broader context and framework of pension reform. Contributors focus on topics that must be addressed in any reform effort, including the effects of the shift in emphasis toward defined contribution plans (after the 1974 Employee Retirement Income and Security Act) and hybrid plans (from the 1990s); regulatory issues such as nondiscrimination rules and contribution limits; how to increase the information available to participants and improve financial education; how participants in defined contribution plans make choices on questions such as asset allocation, back-loaded versus front-loaded saving, and annuities versus lump sum distributions; and the interaction of the private pension system with Social Security. Contributors include Robert L. Clark (North Carolina State University), Sylvester J. Schieber (Watson Wyatt Worldwide), Richard A. Ippolito (George Mason University School of Law), Alan L. Gustman (Dartmouth College), Thomas L. Steinmeier (Texas Tech University), John Karl Scholz (University of Wisconsin), Dean M. Maki, (JPMorgan Chase), William Even (Miami University of Ohio), Jagadeesh Gokhale (American Enterprise Institute), Laurence J. Kotlikoff (Boston University), Mark J. Warshawsky (TIAA-CREF Institute), Annika Sunden (Boston College), Andrew A. Samwick (Dartmouth College), David A. Wise (Harvard University), Joel Dickson (T
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 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 What You Should Know about Your Retirement Plan written by Labor Dept (U S and published by Government Printing Office. This book was released on 2018-01-05 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: This booklet covers private investment retirement plans governed by state laws and guidelines in the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code. Your employer's retirement savings plan is an essential part of your future financial security. This booklet helps you understand your plan and explains what information you should review periodically and where to go for help with questions.. It includes information on: Different types of retirement plans; What information you can get about your plan; When and how you can receive retirement benefits; What to do if you have a question or find a mistake; The responsibilities of those who manage the plan and investments; Your responsibilities to understand and monitor your plan; and Specific circumstances such as how a divorce or change of employer ownership may effect your retirement benefit. NOTE: The information presented is a simplified summary of participant rights and responsibilities for you to use as a reference, not a legal interpretation of ERISA. Employer retirement fund managers and administrators, human resources or benefits counselors, financial planners,accountants, CPAs, small business owners, employees of companies and organizations that offer retirement investment plans, and public employees may be interested in this guidance. Check out ourRetirement resources collection
Download or read book New Directions in Retirement Security Policy written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 1999 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt:
