Restructuring Retirement Risks
Series: Pensions Research Council;
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Product details:
- Publisher OUP Oxford
- Date of Publication 3 August 2006
- ISBN 9780199204656
- Binding Hardback
- No. of pages270 pages
- Size 240x162x22 mm
- Weight 440 g
- Language English
- Illustrations Numerous tables and figures 0
Categories
Short description:
This book higlights the importance of retirement security as a major policy concern of our time. A generation of 'Baby Boomers' is on the verge of retirement, yet pension systems confront crushing challenges, and governments often appear confused about which direction they should move in.
MoreLong description:
This book posits that retirement security is the central policy concern of our time. A generation of 'Baby Boomers' is on the verge of retirement, yet pension systems confront crushing challenges, and governments often appear confused about which direction they should move in.
Contributors to this volume clarify the discussion by addressing the question: 'What are the new risks and rewards in pensions, and what paths can stakeholders chose to solve these problems?'. The chapters set their sights on employees' needs and expectations, employers' intentions and realizations, and policymakers' efforts to resolve the many challenges. Despite the fact that retirement systems face deep stresses exacerbated by volatile capital markets, poor corporate earning streams, weak macroeconomic performance, and international turmoil, nevertheless, contributors in this volume show courage and creativity in plotting the course over uneven terrain.
In the book, three aspects of the evolution of risk and reward-sharing in retirement are evaluated, to offer guidance to pension fiduciaries, plan participants, and policymakers. First, it formulates new perspectives for assessing retirement risks and rewards. Second, it evaluates efforts to insure retirement plans. Third, it proposes several new strategies for managing retirement system risk. The volume represents an invaluable addition to the Pension Research Council/Oxford University Press series. It will be especially useful for managers working toward more efficient pension plans; to scholars and policymakers seeking to maximize pension design effectiveness; and to actuaries and tax specialists concerned with pension regulation.
The Pension Research Council at the Wharton School of the University of Pennsylvania was founded 50 years ago to encourage research and teaching on pensions and retirement security. Council projects address the long-term issues that underlie contemporary concerns and seek to broaden public understanding of these complex arrangements through research into their social, economic, legal, actuarial, and financial foundations of privately and publicly-provided benefits.
Table of Contents:
Part I. Perspectives on Pension Risks and Rewards
Understanding the Uncertainties of Retirement
Who Bears What Risk? An Intergenerational Perspective
he Role of 401(k) Accumulations in Future Retirement Income
Changing Risks Confronting Pension Participants
Part II. Pooling Pension Risks and Rewards
A Regulatory Framework for Strengthening Defined Benefit Pensions
The Influence of PBGC Insurance on Pension Fund Finances
The UK Approach to Insuring Defined Benefit Pension Plans
Risk-Sharing in Retiree Medical Benefits
Part III. New Strategies for Managing Retirement Risk
Restructuring the Defined Benefit Pension
Dimensions of 401(k) Plan Design
Understanding and Allocating Investment Risks in a Hybrid Pension Plan
Market Innovations to Better Allocate Generational Risk
