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Pensions In Crisis Why The System Is Failing America And How You Can Protect Your Future
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Book Synopsis Pensions in Crisis: Why the System is Failing America and How You Can Protect Your Future by : Karen Ferguson
Download or read book Pensions in Crisis: Why the System is Failing America and How You Can Protect Your Future written by Karen Ferguson and published by Simon and Schuster. This book was released on 1995-05-24 with total page 305 pages. Available in PDF, EPUB and Kindle. Book excerpt: Telling readers what they need to know now to protect their pensions, two pension experts and reform advocates reveal the pitfalls in the system, ask disturbing questions, and offer valuable advice to protect retirement income.
Book Synopsis Pension Revolution by : Keith P. Ambachtsheer
Download or read book Pension Revolution written by Keith P. Ambachtsheer and published by John Wiley & Sons. This book was released on 2011-07-05 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Pension Revolution "When Keith Ambachtsheer puts his keen mind to work on a problem, watch out! Here he exposes today's fragile arrangements for the most serious social dilemma of our times--financing retirement. Then he provides a compelling and powerful set of solutions. His writings are essential reading for all who care about the future of American living standards." --Peter Bernstein, founder and President, Peter L. Bernstein, Inc., and author of Capital Ideas and Against the Gods "This book describes one of the most ingenious inventions in the history of mankind: pension funds offering credible promises about old-age income. It reads like a thriller: how can well-governed pension funds be created in an imperfect world in which mortals wrestle with foibles and moral shortcomings? One of the world's leading experts on pensions searches for the answer--and finds it." --Lans Bovenberg, Scientific Director, Network for Studies on Pensions, Aging, and Retirement, Tilburg University, The Netherlands "Pension Revolution exposes the inadequacies of current pension systems and persuasively makes the case for the fundamental changes that are needed. It is essential reading for both the pension industry and policymakers." --Elizabeth Bryan, Chair, Investment Committee, Unisuper Management PM Ltd, Australia "Most analyses of complicated issues deal with complexity by simplifying or only looking at one piece-part, and, in doing so, provide limited value. In stark contrast, Keith Ambachtsheer boldly wades into the complexity in Pension Revolution to come up with a valuable integrative solution. He is a most welcome revolutionary!" --Roger Martin, Dean, Joseph L. Rotman School of Management, University of Toronto, Canada "We have known Keith for over ten years, and consistently over that time, he has constructively and comprehensively challenged conventional wisdom. He has done this so effectively that many of his initial thoughts have now become universally accepted norms. Such is his energy however that he continues to push the boundaries of pension and investment thinking." --Peter Moon, Chief Investment Officer, Universities Superannuation Scheme Ltd, UK "Pension Revolution not only explains the shortcomings of the existing pension system and the underlying design features that have resulted in the current pension upheaval. It also offers thoughtful and creative suggestions for prospective pension design. A must-read for anyone interested in the future of retirement finance." --James Poterba, Professor of Economics, Massachusetts Institute of Technology and a member of the TIAA-CREF Board of Trustees
Book Synopsis The U. S. Pension Crisis by : Ronald J. Ryan
Download or read book The U. S. Pension Crisis written by Ronald J. Ryan and published by Leading Press. This book was released on 2013-12-17 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: America faces its greatest financial challenge since the Great Depression: The U.S. Pension Crisis! A devastating pension crisis looms as spiking contribution costs and promised benefit payments threaten the solvency of many corporations, cities, and states. This book details how improper accounting rules misled pension managers to follow the wrong objectives, leading to a financial crisis of epic proportions. Award-winning author Ronald J. Ryan details just how the pension crisis developed and what pension decision makers need to do now to solve this dilemma. He offers a compelling strategy to reduce pension costs and reach a fully funded status.
Book Synopsis When the Good Pensions Go Away by : Thomas J. Mackell
Download or read book When the Good Pensions Go Away written by Thomas J. Mackell and published by John Wiley & Sons. This book was released on 2008-03-31 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: In When the Good Pensions Go Away, Thomas Mackell suggests remedies to the quagmire that has been created by the conflicting interests of health care and pension service providers, the aging population, and the inertia that has permeated our policymakers. Mackell includes his “Top List” of recommendations that anyone (and hope-fully everyone) can adopt to address the problem that the shift of our benefit programs—from organizations to the shoulders of the individual—has created.
Book Synopsis Rescuing Retirement by : Teresa Ghilarducci
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
Book Synopsis Retirement Heist by : Ellen E. Schultz
Download or read book Retirement Heist written by Ellen E. Schultz and published by Penguin. This book was released on 2011-09-15 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: "'As far as I can determine there is only one solution [to the CEO's demand to save more money]', the HR representative wrote to her superiors. 'That would be the death of all existing retirees.'" It's no secret that hundreds of companies have been slashing pensions and health coverage earned by millions of retirees. Employers blame an aging workforce, stock market losses, and spiraling costs- what they call "a perfect storm" of external forces that has forced them to take drastic measures. But this so-called retirement crisis is no accident. Ellen E. Schultz, award-winning investigative reporter for the Wall Street Journal, reveals how large companies and the retirement industry-benefits consultants, insurance companies, and banks-have all played a huge and hidden role in the death spiral of American pensions and benefits. A little over a decade ago, most companies had more than enough set aside to pay the benefits earned by two generations of workers, no matter how long they lived. But by exploiting loopholes, ambiguous regulations, and new accounting rules, companies essentially turned their pension plans into piggy banks, tax shelters, and profit centers. Drawing on original analysis of company data, government filings, internal corporate documents, and confidential memos, Schultz uncovers decades of widespread deception during which employers have exaggerated their retiree burdens while lobbying for government handouts, secretly cutting pensions, tricking employees, and misleading shareholders. She reveals how companies: Siphon billions of dollars from their pension plans to finance downsizings and sell the assets in merger deals Overstate the burden of rank-and-file retiree obligations to justify benefits cuts while simultaneously using the savings to inflate executive pay and pensions Hide their growing executive pension liabilities, which at some companies now exceed the liabilities for the regular pension plans Purchase billions of dollars of life insurance on workers and use the policies as informal executive pension funds. When the insured workers and retirees die, the company collects tax-free death benefits Preemptively sue retirees after cutting retiree health benefits and use other legal strategies to erode their legal protections. Though the focus is on large companies-which drive the legislative agenda-the same games are being played at smaller companies, non-profits, public pensions plans and retirement systems overseas. Nor is this a partisan issue: employees of all political persuasions and income levels-from managers to miners, pro- football players to pilots-have been slammed. Retirement Heist is a scathing and urgent expose of one of the most critical and least understood crises of our time.
Book Synopsis Risky Bodies & Techno-Intimacy by : Geeta Patel
Download or read book Risky Bodies & Techno-Intimacy written by Geeta Patel and published by University of Washington Press. This book was released on 2017-08-01 with total page 389 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risky Bodies and Techno-Intimacy traverses disparate and uncommon routes to explore how people grapple with the radical uncertainties of their lives. In this edgy, evocative journey through myriad interleaved engagements—including the political economies of cinema; the emergent shapes taken by insurance, debt, and mortgages; gender and sexuality; and domesticity and nationalism—Geeta Patel demonstrates how science and technology ground our everyday intimacies. The result is a deeply poetic and philosophical exploration of the intricacies of techno-intimacy, revealing a complicated and absorbing narrative that challenges assumptions underlying our daily living.
Book Synopsis Cannon Mills and Kannapolis by : Timothy W. Vanderburg
Download or read book Cannon Mills and Kannapolis written by Timothy W. Vanderburg and published by Univ. of Tennessee Press. This book was released on 2013-10-01 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cannon Mills was once the country’s largest manufacturer of household textiles, and in many ways it exemplified the textile industry and paternalism in the postbellum South. At the same time, however, its particular brand of paternalism was much stronger and more enduring than elsewhere, and it remained in place long after most of the industry had transitioned to modern, bureaucratic management. In Cannon Mills and Kannapolis, Tim Vanderburg critically examines the rise of the Cannon Mills textile company and the North Carolina community that grew up around it. Beginning with the founding of the company and the establishment of its mill town by James W. Cannon, the author draws on a wealth of primary sources to show how, under Cannon’s paternalism, workers developed a collective identity and for generations accepted the limits this paternalism placed on their freedom. After exploring the growth and maturation of Cannon Mills against the backdrop of World War I and its aftermath, Vanderburg examines the impact of the Great Depression and World War II and then analyzes the postwar market forces that, along with federal policies and unionization, set in motion the industry’s shift from a paternalistic model to bureaucratic authority. The final section of the book traces the decline of paternalism and the eventual decline of Cannon Mills when the death of the founder’s son, Charles Cannon, led to three successive sales of the company. Pillowtex, its final owner, filed for bankruptcy and was liquidated in 2003. Vanderburg uses Cannon Mills’s intriguing history to help answer some of the larger questions involving industry and paternalism in the postbellum South. Complete with maps and historic photographs, this authoritative, highly readable account of one company and the town it created adds a captivating layer of complexity to our understanding of southern capitalism.
Download or read book Falling Short written by Charles D. Ellis and published by Oxford University Press. This book was released on 2014-12-01 with total page 169 pages. Available in PDF, EPUB and Kindle. Book excerpt: The United States faces a serious retirement challenge. Many of today's workers will lack the resources to retire at traditional ages and maintain their standard of living in retirement. Solving the problem is a major challenge in today's environment in which risk and responsibility have shifted from government and employers to individuals. For this reason, Charles D. Ellis, Alicia H. Munnell, and Andrew D. Eschtruth have written this concise guide for anyone concerned about their own - and the nation's - retirement security. Falling Short is grounded in sound research yet written in a highly accessible style. The authors provide a vivid picture of the retirement crisis in America. They offer the necessary context for understanding the nature and size of the retirement income shortfall, which is caused by both increasing income needs-due to longer lifespans and rising health costs-and decreasing support from Social Security and employer-sponsored pension plans. The solutions are to work longer and save more by building on the existing retirement system. To work longer, individuals should plan to stay in the labor force until age 70 if possible. To save more, policymakers should shore up Social Security's long-term finances; make all 401(k) plans fully automatic, with workers allowed to opt out; and ensure that everyone has access to a retirement savings plan. Individuals should also recognize that their house is a source of saving, which they can tap in retirement through downsizing or a reverse mortgage.
Book Synopsis Reshaping Retirement Security by : Raimond Maurer
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.
Book Synopsis 106-2 Hearing: The Evolving Pension And Investment World After 25 Years Of ERISA Serial No. 106-87, February 15, 2000 by :
Download or read book 106-2 Hearing: The Evolving Pension And Investment World After 25 Years Of ERISA Serial No. 106-87, February 15, 2000 written by and published by . This book was released on 2000 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Employer-Employee Relations Publisher : ISBN 13 : Total Pages :100 pages Book Rating :4.0/5 ( download)
Book Synopsis The Evolving Pension and Investment World After 25 Years of ERISA by : United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Employer-Employee Relations
Download or read book The Evolving Pension and Investment World After 25 Years of ERISA written by United States. Congress. House. Committee on Education and the Workforce. Subcommittee on Employer-Employee Relations and published by . This book was released on 2000 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Retirement Fail written by Greg Sullivan and published by John Wiley & Sons. This book was released on 2018-03-08 with total page 155 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are nine key reasons people fail at retirement—and they’re not what you think. Are you working to avoid these major retirement fails? Every day, people just like you, people who have worked hard and saved carefully for retirement, make decisions that will eventually crack their nest egg. Just because you added to your 401(k) or IRA plan every year, invested wisely, and amassed significant savings, you are not necessarily home free. Ready or not, your decisions all along the retirement path can positively or negatively affect your financial future. In Retirement Fail, top financial advisor Greg Sullivan shares the insights he has gained over his thirty-five-year career in wealth management to help you identify potential pitfalls and learn how to safeguard your hard-earned retirement assets. Because, contrary to what most people think, it is not poor portfolio performance that usually busts your retirement accounts. Rather, it’s the emotional decisions you make that can cause major problems. Whether it’s buying a vacation home that is beyond your reach, subsidizing your adult kids to a degree that is ill advised, or passing on the umbrella insurance your advisor recommended, the choices you make have an enormous effect on whether you’ll be able to enjoy the comfortable retirement you’ve dreamed about. Retirement Fail: Lays out the nine common hazards that trip up otherwise well-prepared retirees, encouraging you to think through your decisions and set a course aligned with your values and your ultimate goals Goes beyond traditional financial advice, using personal stories to illustrate how others have become mired in—or solved—these financial dilemmas Creates a valuable framework you can use to chart your path or begin conversations with your advisor, so that you can act to protect your financial independence The numerical side of financial planning is one thing—the far more difficult task is looking at the way the decisions we make impact our own future and those around us. Whether you are working with a financial advisor or are going it alone, Retirement Fail shows you the points you need to pay attention to and helps you figure out what your priorities are—and what tradeoffs you may have to make in order to achieve them.
Book Synopsis Individual Accounts for Social Security Reform by : John A. Turner
Download or read book Individual Accounts for Social Security Reform written by John A. Turner and published by W.E. Upjohn Institute. This book was released on 2006 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examines the current state of workers' freedom to form unions and bargain collectively and looks at the obstacles facing America's workers who seek to organize into unions in the 21st century.
Book Synopsis When I'm Sixty-Four by : Teresa Ghilarducci
Download or read book When I'm Sixty-Four written by Teresa Ghilarducci and published by Princeton University Press. This book was released on 2017-10-31 with total page 386 pages. Available in PDF, EPUB and Kindle. Book excerpt: A crisis is looming for baby boomers and anyone else who hopes to retire in the coming years. In When I'm Sixty-Four, Teresa Ghilarducci, the nation's leading authority on the economics of retirement, explains how to confront this crisis head-on, revealing the causes behind the increasingly precarious economics of old age in America and proposing a bold plan to guarantee retirement security for every working citizen. Retirement is one of the hallmarks of a prosperous, civilized market economy. Yet in America today Social Security is on the ropes. Government and employers are dismantling pension security, forcing older people to work longer. The federal government spends billions in exemptions for 401(k)s and other voluntary retirement accounts, yet retirement savings for most workers is falling. Ghilarducci takes an unflinching look at the eroding economic structure of retirement in America--and what she finds is alarming. She exposes the failures of pension regulators and the false hopes of privatized Social Security. She tells the ugly truth about risky 401(k) plans, do-it-yourself retirement schemes, and companies like Enron that have left employees without any retirement savings. Ghilarducci puts forward a sweeping plan to revive the retirement-income system, a plan that will ensure that, after forty years of work, every American will receive 70 percent of their preretirement earnings, guaranteed for life. No other book makes such a persuasive case for overhauling the pension and Social Security system in order to provide older Americans with the financial stability they have earned and deserve.
Book Synopsis California Dreaming by : Lawrence J. McQuillan
Download or read book California Dreaming written by Lawrence J. McQuillan and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Land of Opportunity-or Financial Armageddon? A crisis is brewing in California and elsewhere across the United States. For decades, public pension officials and politicians of both parties have promised their employees increasingly generous retirement benefits-while low-balling the contributions that are needed to cover these promises-presenting our greatest financial challenge since the Great Depression. Pushing today's pension liability onto our children and grandchildren leaves them with a depleted future and a potentially bankrupt California. State and local governments will scramble to find funds, forcing them to raise taxes, slash public services, and/or declare bankruptcy. Schools, parks, emergency services, and public-employee retirement benefits will be at risk. Politicians will defer until circumstances force them to reckon with a disaster of their own making. In California Dreaming, Lawrence J. McQuillan pulls back the curtains covering this unfunded liability crisis. He describes the true extent of the problem, explains the critical factors that are driving public pension debt sky-high, and exposes the perverse incentives that have rewarded lawmakers and pension officials for not fixing the problem and letting it escalate. Finally, he offers the six crucial reforms needed to restore the financial health of California and other threatened jurisdictions. If McQuillan's roadmap for reform is adopted, the prospects for achieving a thriving, balanced and equitable future are highly favorable. If not, the many opportunities that once made the Golden State seem like a Promised Land will quickly evaporate.
Book Synopsis The Graying of America by : James A. Jorgensen
Download or read book The Graying of America written by James A. Jorgensen and published by Dial. This book was released on 1980 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
