Pensions, Economics, and Public Policy PDF Download

Author: Richard A. Ippolito
Publisher: University of Pennsylvania Press
ISBN: 9780870947605
Category : Business & Economics
Languages : en
Pages : 428

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Book Description
From the Pension Research Council of the Wharton School

Author: Sylvester J. Schieber
Publisher: MIT Press
ISBN: 9780262193870
Category : Business & Economics
Languages : en
Pages : 360

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Book Description
According to Schieber and Shoven, pension policy will emerge as one of the key economic issues of the next decade. This book provides a guide to the debate.Public and private pensions control almost a quarter of the United States' tangible wealth--equivalent to all of the country's residential real estate. They account for most current saving in the country, are a crucial component of household retirement resources, and have significant effects on labor market mobility and efficiency. Collectively, they hold a tremendous proportion of all common stock. The stock market has boomed during the past decade, as baby boomers have rapidly accumulated pension assets. Now economists are starting to wonder what will happen when the baby boomers retire. It is already clear that the Social Security system will require drastic changes to remain solvent. Will the stock market experience a similar meltdown as baby boomers withdraw their assets from pension plans? What policies might help to avoid such a crisis? According to Schieber and Shoven, pension policy will emerge as one of the key economic issues of the next decade. This book provides a guide to the debate. Topics include the impact of pensions on personal and national saving, the potential for a Pension Benefit Guarantee Corporation financial crisis, the dramatic growth in 401(k) plans, public sector plants, the prospects for adequate retirement income in the future, and recommended directions for pension policies. The book contains ten chapters, four written by Schieber and Shoven.ContributorsRobert Clark, Ping-Lung Hsin, Olivia Mitchell, James Poterba, Andrew Samwick, Jonathan Skinner, Steven Venti, Carolyn Weaver, David Wise, and Elisa Wolper.

Author: Eileen Norcross
Publisher: Cambridge University Press
ISBN: 1009027026
Category : Business & Economics
Languages : en
Pages : 128

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Book Description
Public pensions in the United States face an impending funding crisis in the wake of the financial crisis and the COVID-19 recession. Many cities and states will struggle to meet these growing obligations without major cuts in government services, reneging on pension promises, or raising taxes. This Element examines the development of the pension crisis through the lens of political economy. We analyze the knowledge and incentive problems inherent in the institutional structure, governance, and accounting of public pensions. We conclude by offering several institutional, governance, and reporting reforms to address the pension funding crisis.

Author: Lawrence Thompson
Publisher: Routledge
ISBN: 0429827695
Category : Business & Economics
Languages : en
Pages : 176

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Book Description
First published in 1998, this volume was developed as part of the Stockholm Initiative and sets out to assess the situation of providing for retirement and pensions. In the wake of intense debate over pay-as-you-go pensions, Lawrence Thomson for the most part leaves social and cultural issues for subsequent analysis, instead examining the economic

Author: David Blake
Publisher: John Wiley & Sons
ISBN: 9780470058718
Category : Business & Economics
Languages : en
Pages : 270

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Book Description
While not attempting to train readers as professional economists, this book aims to provide a secure grounding in the theory and practice of economics insofar as it deals with pension matters. From reading this book, the user will understand: * The key types of pension scheme * The role of pensions in maximizing individual lifetime welfare * The role of pensions in individual savings and retirement decisions * The role and consequences of the pension plan from the company's viewpoint * The role of pensions in promoting aggregate savings * The role of pensions and retirement in overlapping generations models * The economics of ageing and intergenerational accounting * The social welfare implications of pensions * The lessons of behavioural economics for pensions

Author: Salvador Valdés-Prieto
Publisher: Cambridge University Press
ISBN: 9780521666121
Category : Business & Economics
Languages : en
Pages : 396

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Book Description
This book, first published in 1997, offers up-to-date research about publicly regulated pensions for old age.

Author: William G. Gale
Publisher: Rowman & Littlefield
ISBN: 0815796420
Category : Political Science
Languages : en
Pages : 416

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Book Description
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 (The Vanguard Group), Peter Merrill (PriceWaterhouseCoopers), Kent Smetters (Wharton School), Yuewu Xu (TIAA-CREF Institute), Janemarie Mulvey (Watson Wyatt Worldwide), Peter Orszag (Sebago Associates, Inc.), James M. Poterba (Massachusetts Institute of Technology), John B. Shoven (Stanford University), Clemens Sialm (University of Michigan), Leslie E. Papke (Michigan State University), Jeffrey R. Brown (Harvard University), and Michael Hurd (RAND Corporation).

Author: Bernhard Felderer
Publisher: Springer
ISBN: 9783211824320
Category : Old age pensions
Languages : en
Pages : 218

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Book Description
A collection of papers dealing with different aspects of public pension economics presents new approaches and new results from the frontier of economic research on this topic. The main subjects covered by the book are:• Intergenerational redistribution caused by public pension systems• Efficiency of pay-as-you-go schemes under certainty and general assumptions covering the “small open” and the “closed” economy as special cases• Interregional and intertemporal efficiency when harmonization of policies is attempted and

Author: Zvi Bodie
Publisher: University of Chicago Press
ISBN: 0226062902
Category : Business & Economics
Languages : en
Pages : 390

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Book Description
In the past several decades, pension plans have become one of the most significant institutional influences on labor and financial markets in the U.S. In an effort to understand the economic effects of this growth, the National Bureau of Economic Research embarked on a major research project in 1980. Issues in Pension Economics, the third in a series of four projected volumes to result from thsi study, covers a broad range of pension issues and utilizes new and richer data sources than have been previously available. The papers in this volume cover such issues as the interaction of pension-funding decisions and corporate finances; the role of pensions in providing adequate and secure retirement income, including the integration of pension plans with social security and significant drops in the U.S. saving rate; and the incentive effects of pension plans on labor market behavior and the implications of plans on labor market behavior and the implications of plans for different demographic groups. Issues in Pension Economics offers important empirical studies and makes valuable theoretical contributions to current thinking in an area that will most likely continue to be a source of controversy and debate for some time to come. The volume should prove useful to academics and policymakers, as well as to members of the business and labor communities.

Author: Lawrence H. Thompson
Publisher: Urban Inst Press
ISBN: 9780877666783
Category : Social Science
Languages : en
Pages : 175

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Book Description
The author explores the critical economic issues underlying national pension systems, including the impact of pensions on a nation's economy, the fiscal dynamics of different pension approaches, and the challenges involved in providing adequate retirement incomes. He concludes that some aspects of the effort to reform the traditional defined-benefit, pay-as-you-go social security program deserve to be taken seriously, but others are either unsupported by current economic knowledge or overstated. This study was commissioned by the International Social Security Association.