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Author : Lingling Wang
Publisher :
ISBN 13 :
Total Pages : 172 pages
Book Rating : 4.:/5 (89 download)
Download or read book A Cohort Analysis of Contribution Rates in Defined Contribution Plans written by Lingling Wang and published by . This book was released on 2005 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Burt S. Barnow
Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.E/5 ( download)
Download or read book The Costs of Defined Benefit Pension Plans and Firm Adjustments written by Burt S. Barnow and published by . This book was released on 1977 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jeffery V. Bailey
Publisher : CFA Institute Research Foundation
ISBN 13 : 1952927218
Total Pages : 108 pages
Book Rating : 4.9/5 (529 download)
Download or read book Defined Contribution Plans: Challenges and Opportunities for Plan Sponsors written by Jeffery V. Bailey and published by CFA Institute Research Foundation. This book was released on 2021-08-11 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: American workers rely on their employers to provide a way to generate retirement income beyond their Social Security earnings. Many employers still offer traditional defined benefit (DB) pension plans. A growing majority, however, have replaced DB plans with account-based defined contribution (DC) plans. Virtually everyone acknowledges that the basic DC plan design is flawed. Yet as a society with low private savings and a fraying Social Security system, we count on this imperfect structure to serve as a retirement security bulwark. Workers and society both need the employer-sponsored retirement system to function well. Enhancing DC plan design therefore becomes critical. Defined Contribution Plans: Challenges and Opportunities for Plan Sponsors offers guidance to plan sponsors interested in better understanding the primary issues confronting DC plans. We wrote this book from the viewpoint of the plan sponsor seeking to improve the DC system, and it follows five major themes: the plan participant, the plan sponsor, plan design, investments and investment managers, and asset decumulation in retirement. We present the material conversationally from a high-level perspective. We have not sought to write an encyclopedia on DC plans but rather focus on the basic features of well-run plans. We address key challenges facing DC plans and offer associated design and policy recommendations for plan sponsors and other interested parties to consider. Plan design improvements almost certainly will be incremental, rather than sweeping top-down changes mandated by regulators. Plan sponsors individually will make the important decisions that have lasting consequences for participants and for society. Our objective is to spark interest among sponsors, encouraging them to carry out additional research and take action. We believe the DC system will be strengthened by informed sponsors advocating for and implementing thoughtful strategic changes to their plans.
Author : Bruce E. Patterson
Publisher :
ISBN 13 : 9781622572915
Total Pages : 157 pages
Book Rating : 4.5/5 (729 download)
Download or read book Defined Contribution Plans for Retirement written by Bruce E. Patterson and published by . This book was released on 2012 with total page 157 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.
Author : United States. General Accounting Office
Publisher :
ISBN 13 :
Total Pages : 64 pages
Book Rating : 4.:/5 (31 download)
Download or read book Private Pensions written by United States. General Accounting Office and published by . This book was released on 1997 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Charles A. Jeszeck
Publisher : DIANE Publishing
ISBN 13 : 1437985254
Total Pages : 68 pages
Book Rating : 4.4/5 (379 download)
Download or read book Private Pensions written by Charles A. Jeszeck and published by DIANE Publishing. This book was released on 2011-08 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: Despite sizable tax incentives, private pension participation has remained at about 50 percent of the workforce. For those in a pension plan, there is concern that these incentives accrue primarily to higher income employees and do relatively little to help lower income workers save for retirement. This report examined: (1) recent trends in new private pension plan formation; (2) the characteristics of defined contribution plan participants contributing at or above statutory limits; (3) how suggested options to modify an existing credit for low-income workers might affect their retirement income; and (4) the long-term effects of the recent financial crisis on retirement savings. Charts and tables. This is a print on demand report.
Author : Jack VanDerhei
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book Alternative Realities written by Jack VanDerhei and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years there have been a number of policy proposals that call into question the value of existing defined contribution plans. However, the suggested alternatives do not provide a detailed analysis of the impact of terminating defined contribution plans on retirement income adequacy for American households. Previous research by the Employee Benefit Research Institute (EBRI) has provided some tangential evidence with respect to the potential impact. In 2014 EBRI provided simulation analysis of the serious error introduced by models that ignored future contribution activity from defined contribution plans. In 2017 EBRI produced simulation results showing that, if there were no employer-sponsored retirement plans (defined benefit as well as defined contribution) and individuals were assumed to behave in the manner observed for those with no access to such plans, the aggregate retirement deficits would jump from $4.13 trillion to $7.05 trillion (an increase of 71 percent). In contrast, this Issue Brief provides a comprehensive exploration of the impact on retirement income adequacy for various cohorts of American households if defined contribution retirement plans were completely eliminated. As expected, the results are significantly greater for younger cohorts, since they would lose potential access to defined contribution plans for a longer period. The youngest age cohort (those currently ages 35-39) would suffer the most, with average retirement deficits increasing 23 percent from $49,182 to $60,253. Older cohorts would experience less of an impact: those ages 40-44 would have an increase of 18 percent, while those ages 45-49 would have a 13 percent increase. The average deficits for households above age 50 would increase but by less than 10 percent. The results are also analyzed by preretirement income quartile and breakouts into the following categories: single male, single female, widow, and widower. We find that elimination of defined contribution plans would have the most negative impact on single females. The Issue Brief then analyzes the opposite end of the defined contribution access spectrum by exploring the impact of a universal defined contribution scenario where every employer (with the exception of those that already sponsor a defined benefit plan) is assumed to sponsor a defined contribution plan. Again in this scenario, the youngest age cohort and single females would experience the largest change in retirement income adequacy. The youngest age cohort would benefit the most from this scenario, with average retirement deficits decreasing 24 percent from $49,182 to $37,506. Older cohorts would experience less of an impact: those ages 40-44 would have a decrease of 19 percent, while those ages 45-49 would have a 16 percent decrease and those ages 50-54 would have a 12 percent decrease. The average deficit for households above age 55 would decrease but by less than 10 percent.
Author : Robert Holzmann
Publisher : World Bank Publications
ISBN 13 : 1464814562
Total Pages : 441 pages
Book Rating : 4.4/5 (648 download)
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
Author :
Publisher :
ISBN 13 :
Total Pages : 16 pages
Book Rating : 4.:/5 (19 download)
Download or read book An Analysis of Borrowing from Defined Contribution Retirement Plan written by and published by . This book was released on 2009 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Samuel Pienknagura
Publisher : International Monetary Fund
ISBN 13 : 151359611X
Total Pages : 52 pages
Book Rating : 4.5/5 (135 download)
Download or read book Assessing Chile's Pension System: Challenges and Reform Options written by Samuel Pienknagura and published by International Monetary Fund. This book was released on 2021-09-10 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Chile’s pension system came under close scrutiny in recent years. This paper takes stock of the adequacy of the system and highlights its challenges. Chile’s defined contribution system was quite influential when introduced, and was taken as an example by other countries. However, it is now delivering low replacement rates relative to OECD peers, as its parameters did not adapt over time to changing demographics and global returns, while informality persists in the labor market. In the absence of reforms, the system’s inability to deliver adequate outcomes for a large share of participants will continue to magnify, as demographic trends and low global interest rates will continue to reduce replacement rates. In addition, recent legislation allowing for pension savings withdrawals to counter the effects from the COVID-19 pandemic, is projected to further reduce replacement rates and increase fiscal costs. A substantial improvement in replacement rates is feasible, via a reform that raises contribution rates and the retirement age, coupled with policies that increases workers’ contribution density.
Author : Robert Holzmann
Publisher : World Bank Publications
ISBN 13 : 082136166X
Total Pages : 692 pages
Book Rating : 4.8/5 (213 download)
Download or read book Pension Reform written by Robert Holzmann and published by World Bank Publications. This book was released on 2006 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book presents 25 state of the art papers on the conceptual foundations and issues surrounding Non-financial, or Notional, Defined Contribution (NDC), country implementation of NDC (Italy, Latvia, Poland, and Sweden) and case studies for countries where NDC is figured in the reform debate. This book is intended to be a handbook for academics and policy makers who want to become informed about what NDC is and to learn about the pros and cons of this attractive reform proposal.
Author : United States. Bureau of Labor Statistics
Publisher :
ISBN 13 :
Total Pages : 552 pages
Book Rating : 4.:/5 (319 download)
Download or read book Monthly Labor Review written by United States. Bureau of Labor Statistics and published by . This book was released on 2006 with total page 552 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publishes in-depth articles on labor subjects, current labor statistics, information about current labor contracts, and book reviews.
Author : David A. Wise
Publisher : University of Chicago Press
ISBN 13 : 0226903222
Total Pages : 428 pages
Book Rating : 4.2/5 (269 download)
Download or read book The Economics of Aging written by David A. Wise and published by University of Chicago Press. This book was released on 2009-05-15 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Economics of Aging presents results from an ongoing National Bureau of Economic Research project. Contributors consider the housing mobility and living arrangements of the elderly, their labor force participation and retirement, the economics of their health care, and their financial status. The goal of the research is to further our understanding both of the factors that determine the well-being of the elderly and of the consequences that follow from an increasingly older population with longer individual life spans. Each paper is accompanied by critical commentary.
Author :
Publisher :
ISBN 13 :
Total Pages : 420 pages
Book Rating : 4.3/5 (129 download)
Download or read book Monthly Labor Review written by and published by . This book was released on 2006 with total page 420 pages. Available in PDF, EPUB and Kindle. Book excerpt: Publishes in-depth articles on labor subjects, current labor statistics, information about current labor contracts, and book reviews.
Author : National Research Council
Publisher : National Academies Press
ISBN 13 : 0309261961
Total Pages : 230 pages
Book Rating : 4.3/5 (92 download)
Download or read book Aging and the Macroeconomy written by National Research Council and published by National Academies Press. This book was released on 2013-01-10 with total page 230 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States is in the midst of a major demographic shift. In the coming decades, people aged 65 and over will make up an increasingly large percentage of the population: The ratio of people aged 65+ to people aged 20-64 will rise by 80%. This shift is happening for two reasons: people are living longer, and many couples are choosing to have fewer children and to have those children somewhat later in life. The resulting demographic shift will present the nation with economic challenges, both to absorb the costs and to leverage the benefits of an aging population. Aging and the Macroeconomy: Long-Term Implications of an Older Population presents the fundamental factors driving the aging of the U.S. population, as well as its societal implications and likely long-term macroeconomic effects in a global context. The report finds that, while population aging does not pose an insurmountable challenge to the nation, it is imperative that sensible policies are implemented soon to allow companies and households to respond. It offers four practical approaches for preparing resources to support the future consumption of households and for adapting to the new economic landscape.
Author : United States. Congress. House. Committee on Oversight and Government Reform
Publisher :
ISBN 13 :
Total Pages : 172 pages
Book Rating : 4.3/5 ( download)
Download or read book Federal employee compensation written by United States. Congress. House. Committee on Oversight and Government Reform and published by . This book was released on 2017 with total page 172 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : National Academies of Sciences, Engineering, and Medicine
Publisher : National Academies Press
ISBN 13 : 0309474108
Total Pages : 409 pages
Book Rating : 4.3/5 (94 download)
Download or read book Future Directions for the Demography of Aging written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2018-07-21 with total page 409 pages. Available in PDF, EPUB and Kindle. Book excerpt: Almost 25 years have passed since the Demography of Aging (1994) was published by the National Research Council. Future Directions for the Demography of Aging is, in many ways, the successor to that original volume. The Division of Behavioral and Social Research at the National Institute on Aging (NIA) asked the National Academies of Sciences, Engineering, and Medicine to produce an authoritative guide to new directions in demography of aging. The papers published in this report were originally presented and discussed at a public workshop held in Washington, D.C., August 17-18, 2017. The workshop discussion made evident that major new advances had been made in the last two decades, but also that new trends and research directions have emerged that call for innovative conceptual, design, and measurement approaches. The report reviews these recent trends and also discusses future directions for research on a range of topics that are central to current research in the demography of aging. Looking back over the past two decades of demography of aging research shows remarkable advances in our understanding of the health and well-being of the older population. Equally exciting is that this report sets the stage for the next two decades of innovative researchâ€"a period of rapid growth in the older American population.
