Accumulated Pension Collars

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Accumulated Pension Collars

Author : Martin S. Feldstein
Publisher :
ISBN 13 :
Total Pages : 34 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Accumulated Pension Collars by : Martin S. Feldstein

Download or read book Accumulated Pension Collars written by Martin S. Feldstein and published by . This book was released on 2000 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper shows how a new type of derivative product that could be provided by private financial markets could in principle be used to guarantee that an investment-based Social Security reform provides at least the level of real retirement income that is projected in current Social Security rules. In effect, future retirees could purchase a put option' that guarantees that the future retirement benefit will not fall below the level projected in current Social Security law or some other chosen level. To pay for this guarantee, they would agree to give up the part of the annuity payments which exceeds a given level, effectively selling a call option on the stream of payments. This market-based approach could be completely voluntary, leaving each individual to decide what level of guarantee he wants. The higher the minimum guarantee that the individual chooses, the more of the potentially higher returns he must give up. The financial market can thus tailor each individual's product to his own risk preferences. Alternatively, the government might require that any product that is sold as part of the investment-based Social Security reform must include at least some such market-based guarantee. Our analysis calculates some of the tradeoffs that could be provided in today's financial markets. We show that it is feasible to protect future benefits equal to those projected in current law with a combination of the current payroll tax rate and Personal Retirement Account savings equal to 2.5 percent of covered earnings. Raising the savings rate to 3.0 percent increases substantially the amount of the return that the individual can keep, raising it to 145 percent of the currently projected level of benefits. Reducing the guarantee level to 90 percent of the projected future benefits would increase this upside potential to 150 percent of the currently projected level of benefits with a 2.5 percent saving rate and 195 percent of the currently projected benefits with a 3.0 percent saving rate.

Tax Policy and the Economy

Author : James M. Poterba
Publisher : MIT Press
ISBN 13 : 9780262661225
Total Pages : 216 pages
Book Rating : 4.6/5 (612 download)

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Book Synopsis Tax Policy and the Economy by : James M. Poterba

Download or read book Tax Policy and the Economy written by James M. Poterba and published by MIT Press. This book was released on 2001 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: Based on a National Bureau of Economic Research conference, Tax Policy and the Economy is a timely review of issues in the current tax debate. Focusing on the economic effects of tax policies, written in a nontechnical style accessible to policymakers, corporate managers, lawyers and economists, each article demonstrates how economic research can make an important contribution to tax policy debates.

Social Security in Latin America

Author : Carmelo Mesa-Lago
Publisher : University of Pittsburgh Pre
ISBN 13 : 082297620X
Total Pages : 373 pages
Book Rating : 4.8/5 (229 download)

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Book Synopsis Social Security in Latin America by : Carmelo Mesa-Lago

Download or read book Social Security in Latin America written by Carmelo Mesa-Lago and published by University of Pittsburgh Pre. This book was released on 1978-11-15 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive and sophisticated study of the relationship between social security policy and inequality in Latin America. Individual case studies of Chile, Uruguay, Peru, Argentina, and Mexico are presented, that provide a historical analysis of each country's social security policy, the pressure groups involved, the present structure of the systems, and a statistical examination of the inequality among these pressure groups.

A History of the German Public Pension System

Author : Alfred C. Mierzejewski
Publisher : Rowman & Littlefield
ISBN 13 : 1498521177
Total Pages : 445 pages
Book Rating : 4.4/5 (985 download)

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Book Synopsis A History of the German Public Pension System by : Alfred C. Mierzejewski

Download or read book A History of the German Public Pension System written by Alfred C. Mierzejewski and published by Rowman & Littlefield. This book was released on 2016-03-04 with total page 445 pages. Available in PDF, EPUB and Kindle. Book excerpt: A History of the German Public Pension System: Continuity amid Change provides the first comprehensive institutional history of the German public pension system from its origins in the late nineteenth century to the major reform period in the early twenty-first century. Relying on a wide range sources, including many used for the first time, this study provides a balanced account of how the pension system has coped with major challenges, such as Germany’s defeat in two world wars, inflation, the Great Depression, the demographic transition, political risk, reunification, and changing gender roles. It shows that while the pension system has changed to meet all of these challenges, it has retained basic characteristics—particularly the tie between work, contributions, and benefits—that fundamentally define its character and have enabled it to survive economic and political turmoil for over a century. This book also demonstrates that the most serious challenge faced by the pension system has consistently been political intervention by leaders hoping to use it for purposes unrelated to its mission of providing the insured with secure and adequate retirement income.

Senior Care and Services

Author : Joaquin Jay Gonzalez III,
Publisher : McFarland
ISBN 13 : 1476638829
Total Pages : 315 pages
Book Rating : 4.4/5 (766 download)

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Book Synopsis Senior Care and Services by : Joaquin Jay Gonzalez III,

Download or read book Senior Care and Services written by Joaquin Jay Gonzalez III, and published by McFarland. This book was released on 2020-04-16 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are more senior citizens in the U.S. today than ever before. Public services for seniors are rapidly changing and expanding as this diverse population ages. This collection of essays describes key developments in services being provided in cities across the nation. Topics include seniors and the U.S. government; health and wellness; longevity; caregiving; housing and accommodations; Social Security and finance; immigrant, minority and LGBT issues, and life-long learning and technology.

The Pension Challenge

Author : Olivia S. Mitchell
Publisher : Oxford University Press
ISBN 13 : 0199266913
Total Pages : 361 pages
Book Rating : 4.1/5 (992 download)

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Book Synopsis The Pension Challenge by : Olivia S. Mitchell

Download or read book The Pension Challenge written by Olivia S. Mitchell and published by Oxford University Press. This book was released on 2003-11-13 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, the first in a new series produced by the Pension Research Council of the Wharton School in collaboration with Oxford University Press, explores ways to enhance retirement security in a volatile financial environment.Mitchell and Smetters begin by assessing the myriad retirement risks confronting employees, retirees, employers, and governments, and it shows how stakeholders can work to reinvent pensions that perform well in a competitive global setting. Contributors then indicate how pension systems can be better designed to help protect against these risks.Of special interest is a discussion of new financial products and structures to meet and manage challenges to old-age security. Examples considered include pension investment guarantees and hedges, adapting catastrophe bonds to the pension context, and key regulatory structures and portfolio requirements designed to protect unwary or unwitting pension participants. The contributors draw important lessons for a wide range of countries, drawing from both developed and developing marketexperiences.Contributors include world-famous finance experts and risk management faculty, development economists, pension regulators, and pension consultants.

Lessons from Pension Reform in the Americas

Author : Stephen J. Kay
Publisher : Oxford University Press
ISBN 13 : 0199226806
Total Pages : 446 pages
Book Rating : 4.1/5 (992 download)

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Book Synopsis Lessons from Pension Reform in the Americas by : Stephen J. Kay

Download or read book Lessons from Pension Reform in the Americas written by Stephen J. Kay and published by Oxford University Press. This book was released on 2008 with total page 446 pages. Available in PDF, EPUB and Kindle. Book excerpt: Latin America has seen a host of pathbreaking pension reforms, including privatizations that have served as examples for governments throughout the world. Addressing pressing policy issues and highlighting a broad range of country experiences, this book provides an unparalleled account of the lessons from pension reform in North and South America

Social Security Pension Reform in Europe

Author : Martin Feldstein
Publisher : University of Chicago Press
ISBN 13 : 0226241912
Total Pages : 515 pages
Book Rating : 4.2/5 (262 download)

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Book Synopsis Social Security Pension Reform in Europe by : Martin Feldstein

Download or read book Social Security Pension Reform in Europe written by Martin Feldstein and published by University of Chicago Press. This book was released on 2009-02-15 with total page 515 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social Security in the United States and in Europe is at a critical juncture. Through the essays assembled in Social Security Pension Reform in Europe, Martin Feldstein and Horst Siebert, along with a number of distinguished contributors, discuss the challenges facing Social Security reform in the aging societies of Europe. A remarkable range of European nations—Germany, France, Finland, the Netherlands, Poland, Romania, Italy, Sweden, the United Kingdom, and Hungary—have implemented or are about to implement mixed Social Security systems that combine a traditional defined benefit of the pay-as-you-go system with an individual retirement account defined contribution of a capital-funded system. The essays here highlight the problems that the European pension reform process faces and how it differs from that of the United States. This timely volume will significantly enrich the debate on pension reform worldwide.

Social Security Policy in a Changing Environment

Author : Jeffrey R. Brown
Publisher : University of Chicago Press
ISBN 13 : 0226076504
Total Pages : 473 pages
Book Rating : 4.2/5 (26 download)

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Book Synopsis Social Security Policy in a Changing Environment by : Jeffrey R. Brown

Download or read book Social Security Policy in a Changing Environment written by Jeffrey R. Brown and published by University of Chicago Press. This book was released on 2009-12-15 with total page 473 pages. Available in PDF, EPUB and Kindle. Book excerpt: Social Security Policy in a Changing Environment analyzes the changing economic and demographic environment in which social insurance programs that benefit elderly households will operate. It also explores how these ongoing trends will affect future beneficiaries, under both the current social security program and potential reform options. In this volume, an esteemed group of economists probes the challenge posed to Social Security by an aging population. The researchers examine trends in private sector retirement saving and health care costs, as well as the uncertain nature of future demographic, economic, and social trends—including marriage and divorce rates and female participation in the labor force. Recognizing the ambiguity of the environment in which the Social Security system must operate and evolve, this landmark book explores factors that policymakers must consider in designing policies that are resilient enough to survive in an economically and demographically uncertain society.

Ageing, Financial Markets and Monetary Policy

Author : Alan J. Auerbach
Publisher : Springer Science & Business Media
ISBN 13 : 3662047799
Total Pages : 353 pages
Book Rating : 4.6/5 (62 download)

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Book Synopsis Ageing, Financial Markets and Monetary Policy by : Alan J. Auerbach

Download or read book Ageing, Financial Markets and Monetary Policy written by Alan J. Auerbach and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 353 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book gives an overview of the implications of population ageing on economic development and financial systems. It describes several challenges which the ageing process poses for central banks, giving special consideration to the situation in Europe. The first two chapters discuss the relationship between ageing and saving and between ageing and international capital flows. Other chapters consider the possible implications for financial markets. The final part raises issues which are of particular relevance for central banks, namely ageing and financial stability and how ageing will affect monetary policy.

Wealth After Work

Author : William G. Gale
Publisher : Brookings Institution Press
ISBN 13 : 0815739354
Total Pages : 406 pages
Book Rating : 4.8/5 (157 download)

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Book Synopsis Wealth After Work by : William G. Gale

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.

Achieving Growth and Prosperity Through Freedom

Author : United States. Congress. Joint Economic Committee
Publisher :
ISBN 13 :
Total Pages : 488 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Achieving Growth and Prosperity Through Freedom by : United States. Congress. Joint Economic Committee

Download or read book Achieving Growth and Prosperity Through Freedom written by United States. Congress. Joint Economic Committee and published by . This book was released on 2000 with total page 488 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Mandating Private Pensions

Author : Max Horlick
Publisher :
ISBN 13 :
Total Pages : 152 pages
Book Rating : 4.3/5 (121 download)

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Book Synopsis Mandating Private Pensions by : Max Horlick

Download or read book Mandating Private Pensions written by Max Horlick and published by . This book was released on 1979 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Working Paper Series

Author :
Publisher :
ISBN 13 :
Total Pages : 668 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Working Paper Series by :

Download or read book Working Paper Series written by and published by . This book was released on 2002 with total page 668 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Public Policy for Progressives

Author : Jonathan Lipow
Publisher : Ethics International Press
ISBN 13 : 1804411922
Total Pages : 317 pages
Book Rating : 4.8/5 (44 download)

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Book Synopsis Public Policy for Progressives by : Jonathan Lipow

Download or read book Public Policy for Progressives written by Jonathan Lipow and published by Ethics International Press. This book was released on 2023-09-15 with total page 317 pages. Available in PDF, EPUB and Kindle. Book excerpt: The purpose of this book is to offer those who identify with America’s democratic political left (broadly defined to include Democrats, Democratic Socialists, Greens, Libertarians, and even liberal Republicans) a guide to understanding how rigorous analysis can be applied in order to identify public policies that are both consistent with their values, and likely to actually work. The book argues the importance of reference to basic scientific principles (in particular, social science and economic principles) and factual evidence for people who identify with the political left, rather than them assuming automatic positions on issues. Foundational scientific principles such as general equilibrium, Keynesian economics, asymmetric information, the use of proxy variables, and causal inference, are discussed and explained. The book consists of 12 chapters. Following two foundational chapters, the book addresses areas including monetary policy, income redistribution, healthcare, social security, education, immigration, climate change, the proper roles of the public and private sectors of the economy, and race relations. Written in accessible, engaging and non-technical language, Public Policy for Progressives will be of interest to scholars and students of economics, philosophy, political science, and public policy, as well as policy makers themselves.

Survey-Based Study on Partial Aspects of Retirement Decisions of Private Persons in Germany

Author : Ivonne Honekamp
Publisher : University of Bamberg Press
ISBN 13 : 3863092295
Total Pages : 305 pages
Book Rating : 4.8/5 (63 download)

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Book Synopsis Survey-Based Study on Partial Aspects of Retirement Decisions of Private Persons in Germany by : Ivonne Honekamp

Download or read book Survey-Based Study on Partial Aspects of Retirement Decisions of Private Persons in Germany written by Ivonne Honekamp and published by University of Bamberg Press. This book was released on 2014-07-03 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Oxford Handbook of Pensions and Retirement Income

Author : Gordon L. Clark
Publisher : Oxford University Press, USA
ISBN 13 : 9780199272464
Total Pages : 954 pages
Book Rating : 4.2/5 (724 download)

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Book Synopsis The Oxford Handbook of Pensions and Retirement Income by : Gordon L. Clark

Download or read book The Oxford Handbook of Pensions and Retirement Income written by Gordon L. Clark and published by Oxford University Press, USA. This book was released on 2006-07-20 with total page 954 pages. Available in PDF, EPUB and Kindle. Book excerpt: This handbook draws on research from a range of academic disciplines to reflect on the implications for provisions of pension and retirement income of demographic ageing. it reviews the latest research, policy related tools, analytical methods and techniques and major theoretical frameworks.