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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 : United States. General Accounting Office
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (31 download)
Download or read book 401(k) Pension Plans written by United States. General Accounting Office and published by . This book was released on 1997 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : United States. Congress. Senate. Special Committee on Aging
Publisher :
ISBN 13 :
Total Pages : 160 pages
Book Rating : 4.0/5 ( download)
Download or read book Saving Smartly for Retirement written by United States. Congress. Senate. Special Committee on Aging and published by . This book was released on 2009 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Douglas Robertson
Publisher :
ISBN 13 :
Total Pages : 88 pages
Book Rating : 4.:/5 (318 download)
Download or read book Large Bank Retirement Services written by Douglas Robertson and published by . This book was released on 2000 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jack VanDerhei
Publisher :
ISBN 13 :
Total Pages : 52 pages
Book Rating : 4.:/5 (129 download)
Download or read book 401(K) Plan Asset Allocation, Account Balances, and Loan Activity in 2007 written by Jack VanDerhei and published by . This book was released on 2008 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past two decades, 401(k) plans have grown to be the most widespread private-sector employer-sponsored retirement plan in the United States, and now serve as the most popular defined contribution (DC) plan, representing the largest number of participants and assets. In 2007, 48.5 million American workers were active 401(k) plan participants. By year-end 2007, 401(k) plan assets had grown to represent 17 percent of all retirement assets, with $3.0 trillion in assets. In an ongoing collaborative effort, the Employee Benefit Research Institute (EBRI) and the Investment Company Institute (ICI) collect annual data on millions of 401(k) plan participants as a means to accurately portray how these participants manage their accounts. This paper serves as an update of EBRI and ICI's ongoing research into 401(k) plan participants' activity through year-end 2007. The report is divided into four sections: The first describes the EBRI/ICI 401(k) database; the second presents a snapshot of participant account balances at year-end 2007; the third looks at participants' asset allocations, including a new analysis of 401(k) participants' use of lifecycle funds; the fourth focuses on participants' 401(k) loan activity.As with previous EBRI/ICI updates, analysis of a consistent sample of 401(k) participants (those that have been in the same plan since 1999) is planned; this additional analysis is expected to be published early in 2009. It should be noted that the year-end 2007 401(k) data reported in this analysis, by definition, do not reflect market losses or participant account activity in 2008. The impact of the 2008 financial market performance on average 401(k) balances is strongly affected by age and tenure of the individual participant, and it would be inaccurate to make a single estimate of an average 401(k) account outcome for 2008.
Author : Barbara D. Bovbjerg
Publisher : DIANE Publishing
ISBN 13 : 143792316X
Total Pages : 52 pages
Book Rating : 4.4/5 (379 download)
Download or read book 401(k) Plans written by Barbara D. Bovbjerg and published by DIANE Publishing. This book was released on 2010 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Under federal regulations, 401(k) participants may tap into their accrued retirement savings before retirement under certain circumstances, including hardship. This "leakage" from 401(k) accounts can result in a permanent loss of retirement savings. This report analyzes: (1) the incidence, amount, and relative significance of the different forms of 401(k) leakage; (2) how plans inform participants about hardship withdrawal provisions, loan provisions, and options at job separation, including the short- and long-term costs of each; and (3) how various policies may affect the incidence of leakage. To address these matters, the report analyzed federal and 401(k) industry data and interviewed federal officials, pension experts, and plan administrators. Illus.
Author : Olivia S. Mitchell
Publisher : University of Pennsylvania Press
ISBN 13 : 9780812236415
Total Pages : 346 pages
Book Rating : 4.2/5 (364 download)
Download or read book Innovations in Retirement Financing written by Olivia S. Mitchell and published by University of Pennsylvania Press. This book was released on 2002-02-26 with total page 346 pages. Available in PDF, EPUB and Kindle. Book excerpt: From the Wharton School
Author : Congressional Research Service
Publisher : CreateSpace
ISBN 13 : 9781502841223
Total Pages : 24 pages
Book Rating : 4.8/5 (412 download)
Download or read book Multiemployer Defined Benefit (DB) Pension Plans written by Congressional Research Service and published by CreateSpace. This book was released on 2014-10-07 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: Multiemployer defined benefit (DB) pension plans are pensions sponsored by more than one employer and maintained as part of a collective bargaining agreement. About 3.2% of all DB pension plans, covering 25% of all DB pension plan participants, are multiemployer plans. Nearly all of the remaining DB pension plans are maintained by a single employer. A few DB pension plans are maintained by more than one employer but are not maintained under a collective bargaining agreement. In DB pension plans, participants receive a monthly benefit in retirement that is based on a formula. In multiemployer DB pensions, the formula typically multiplies a dollar amount by the number of years of service the employee has worked for employers that participate in the DB plan. DB pension plans are subject to funding rules in the Internal Revenue Code (26 U.S.C. §431) to ensure they have sufficient resources from which to pay promised benefits. Because single employer and multiemployer DB pension plans have different structures, Congress has established separate funding rules for these plans. The funding rules for multiemployer DB pension plans are set to expire at the end of 2014, and Congress has been considering proposals that would alter these rules. Although most multiemployer DB pension plans have sufficient resources from which to pay their promised benefits, a few large plans are expected to become insolvent in the next 20 years. The Pension Benefit Guaranty Corporation (PBGC) is a U.S. government agency that insures the benefits of participants in private-sector DB pension plans. As with the funding rules, Congress established separate PBGC programs to insure single and multiemployer DB pensions. For example, PBGC becomes the trustee of terminated single employer DB pension plans. PBGC does not become the trustee of multiemployer DB pension plans; rather, it makes loans to insolvent multiemployer DB plans so the plans may continue to pay participants' guaranteed benefits. Although PBGC has sufficient resources to make loans to smaller multiemployer DB plans, the insolvency of a large multiemployer DB pension plan would likely result in a substantial strain on PBGC's multiemployer insurance program. In the absence of increased financial resources for PBGC, participants in insolvent multiemployer DB pension plans might not receive all of the benefits guaranteed by PBGC. In a report released in June 2014, PBGC indicated that the multiemployer insurance program is highly likely to become insolvent by 2025.
Author : United States. Office of Management and Budget
Publisher :
ISBN 13 :
Total Pages : 416 pages
Book Rating : 4.:/5 (31 download)
Download or read book Special Analyses, Budget of the United States Government written by United States. Office of Management and Budget and published by . This book was released on 1988 with total page 416 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : United States. Internal Revenue Service
Publisher :
ISBN 13 :
Total Pages : 284 pages
Book Rating : 4.:/5 (334 download)
Download or read book Individual retirement arrangements (IRAs) written by United States. Internal Revenue Service and published by . This book was released on 1990 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Olivia S. Mitchell
Publisher : University of Pennsylvania Press
ISBN 13 : 9780812235296
Total Pages : 392 pages
Book Rating : 4.2/5 (352 download)
Download or read book Forecasting Retirement Needs and Retirement Wealth written by Olivia S. Mitchell and published by University of Pennsylvania Press. This book was released on 2000 with total page 392 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many new retirement-related opportunities and risks confront individuals and employers in the 21st century. Opportunities include the exciting prospects of living longer, living healthier, and living a more productive life than ever before. But the risks are also huge, including the challenge of setting an income goal and then saving enough for retirement, investing wisely in a time of financial turmoil, and planning carefully for a long period of time in retirement. What are retirement needs and how much will we need to save for old age? What is retirement becoming, especially in an era of downsizing and early retirement? What assets should we hold prior to and throughout the retirement period? How should we invest our pension assets, and how can education influence 401(k) plan saving? How important are employer-provided pensions and social security in protecting retirees against old-age poverty? And what special problems do minorities and women face? Forecasting Retirement Needs and Retirement Wealth draws on the latest information available on health, wealth, and retirement in America, to offer new perspectives on ways to support the expanding population of older citizens. As these novel paths to retirement emerge, paths that involve "bridge" jobs and gradual transitions through various states of employment, they force new thinking on the concept and process of retirement. Contributors explore the difficult problem of determining what resources people need during retirement and offer ways to think about how much to save for old age.Also in the Pension Research Council Publications series-- Prospects for Social Security Reform Edited by Olivia S. Mitchell, Robert J. Myers, and Howard Young ISBN 0-8122-3479-0 / Cloth Living with Defined Contribution Pensions Remaking Responsibility for Retirement Edited by Olivia S. Mitchell and Sylvester J. Schieber ISBN 0-8122-3439-1 / Cloth Positioning Pensions for the Twentieth-First Century Edited by Michael S. Gordon, Olivia S. Mitchell, and Marc M. Twinney ISBN 0-8122-3391-3 / Cloth
Author : Olivia S. Mitchell
Publisher : Oxford University Press
ISBN 13 : 0199696810
Total Pages : 328 pages
Book Rating : 4.1/5 (996 download)
Download or read book Financial Literacy written by Olivia S. Mitchell and published by Oxford University Press. This book was released on 2011-10-27 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: As defined contribution pensions become prevalent, retirees are increasingly responsible for managing their own pension assets and thus their own financial literacy becomes crucial. Based on empirical evidence and new research, the book examines how financial literacy enhances retirement decision-making in ever more complex financial markets.
Author : Evert Carlsson
Publisher :
ISBN 13 :
Total Pages : 22 pages
Book Rating : 4.:/5 (129 download)
Download or read book Tale of Two Systems written by Evert Carlsson and published by . This book was released on 2009 with total page 22 pages. Available in PDF, EPUB and Kindle. Book excerpt: There is a trend among employers to prefer Defined Contribution instead of Defined Benfit pension plans, since the former transfer all risks associated with investment return, longevity, etc from the employer to the employee. However, Defined Contribution plans also allow the individual to enter into positions contingent on the individual situation. This paper investigates the individual welfare consequences of different plans. We used the recent transition from defined benefit to defined contribution for white-collar workers in Sweden as the benchmark for our analysis. The framework for our analysis is a life cycle model of a borrowing - constrained individual's consumption - and portfolio choices in the presence of uncertain labour income. The main result is that individuals with the characteristic of a low expected pre-retirement income relative to average income and high variance in earnings are winners (men with university degree in the private sector), and that those with the opposite characteristic (women with university degree in the public sector) would be losers.
Author : Financial Accounting Standards Board
Publisher :
ISBN 13 :
Total Pages : 13 pages
Book Rating : 4.:/5 (731 download)
Download or read book Plan Accounting - Defined Contribution Pensions Plans (topic 962) written by Financial Accounting Standards Board and published by . This book was released on 2010 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Alicia Haydock Munnell
Publisher : Brookings Institution Press
ISBN 13 : 0815724128
Total Pages : 266 pages
Book Rating : 4.8/5 (157 download)
Download or read book State and Local Pensions written by Alicia Haydock Munnell and published by Brookings Institution Press. This book was released on 2012 with total page 266 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the wake of the financial crisis and Great Recession, the health of state and local pension plans has emerged as a front burner policy issue. Elected officials, academic experts, and the media alike have pointed to funding shortfalls with alarm, expressing concern that pension promises are unsustainable or will squeeze out other pressing government priorities. A few local governments have even filed for bankruptcy, with pensions cited as a major cause. Alicia H. Munnell draws on both her practical experience and her research to provide abroad perspective on the challenge of state and local pensions. She shows that the storyis big and complicated and cannot be viewed through a narrow prism such as accountingmethods or the role of unions. By examining the diversity of the public plan universe, Munnell debunks the notion that all plans are in trouble. In fact, she finds that while a few plans are basket cases, many are functioning reasonably well. Munnell's analysis concludes that the plans in serious trouble need a major overhaul. Buteven the relatively healthy plans face three challenges ahead: an excessive concentration of plan assets in equities; the risk that steep benefit cuts for new hires will harm workforce quality; and the constraints plans face in adjusting future benefits for current employees. Here, Munnell proposes solutions that preserve the main strengths of state and local pensions while promoting needed reforms.
Author : Jennifer Li-Ling Wang
Publisher :
ISBN 13 :
Total Pages : 470 pages
Book Rating : 4.:/5 (45 download)
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:
Author : Stephen Blakely
Publisher :
ISBN 13 :
Total Pages : 8 pages
Book Rating : 4.:/5 (13 download)
Download or read book Reducing Retirement Savings Leakage written by Stephen Blakely and published by . This book was released on 2016 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper summarizes discussion on new ways to reduce retirement plan “leakage,” presented at the Employee Benefit Research Institute's 78th policy forum in Washington, DC, on May 12, 2016. A recurring issue with defined contribution (DC) savings plans such as the 401(k) is the risk of “leakage” -- pre-retirement reductions in plan savings by workers, either through loans, hardship withdrawals, or payouts at job change. There have been widely varying estimates of how big of a problem leakage actually is, and what the potential reactions may be by both retirement plan sponsors and participants if new pre-retirement access restrictions were imposed. For instance, for many workers the option of being able to take a loan from their 401(k) account is seen as a major incentive for them to participate. A 2014 analysis by EBRI found that approximately two-thirds of the impact of diminished retirement savings due to leakage was associated with the cashouts that sometimes occur at job change. Others have pointed out that 401(k) loans, which sometimes are criticized as a significant source of retirement savings leakage, actually account for the smallest amount of pre-retirement savings loss. To highlight new work on leakage, the Employee Benefit Research Institute (EBRI) devoted part of its 78th policy forum to the topic of “Retirement Challenges and Reforms,” focusing in particular on “Reducing Leakage and Incubating Savings.” The May 12 event in Washington, DC, brought together about a hundred benefits-related experts to discuss a variety of retirement and health topics. The leakage-focused session involved the presentation of a simulation model by the Retirement Clearinghouse (RCH) concerning outcomes of “Auto Portability,” or automated and presumptive plan-to-IRA and plan-to-plan transfers of retirement savings as workers change jobs. Based on research and actual experience with employers, RCH has developed a fairly simple engagement model with both incoming and departing employees -- aimed in particular at those with small 401(k) balances ($5,000 or less, which collectively amount to about $8.8 billion a year) -- that would apply both a pro-rollover/transfer presumption and a near-automatic process that, together, is projected to reduce retirement plan leakage by 50 percent. It was noted that “Auto Portability” has an opt-out mechanism so that individuals can opt out if they need the money.
