The future of pension management : integrating design, governance, and investing

Cover -- Title Page -- Copyright -- Contents -- Preface -- Part 1 Touchstones -- Chapter 1 Improved Pension Designs and Organizations: Gateways to a More Functional Capitalism -- A "Gateways" Lecture in London -- Setting the Stage -- Addressing Capitalism's 21st-Century Challenges -- Sustainable Pension Designs -- Effective Pension Fund Organizations -- Opening Up a Second Front -- A Vision -- Chapter 2 Pension Plans for the Masses: Good Idea or Pipe Dream? -- The Looming Retirement Savings Challenge -- The USA Retirement Funds Initiative -- Canada's Pension Reform Journey -- The UK Pension Journey -- Lessons for the USA and Canada -- Chapter 3 Does Institutional Investing Have a Future? -- A Talk in Tokyo -- The Cost of Active Investing -- New Evidence from the Pension Fund Sector -- How Should Institutions Invest? -- From Theory to Practice: The Case of Ontario Teachers' Pension Plan -- Ideal" Investment Organizations and the Cost of Investing -- Getting from Here to There -- Chapter 4 Thomas Piketty's Capital in the 21st Century: Its Relevance to Pension Fund Management -- The Piketty Phenomenon -- The R > G Inequality -- The Laws Governing Wealth Concentration -- What Is the R Story? -- How Important Are Pension Funds in the Global Scheme of Things? -- Piketty's Contributions -- Part 2 Pension Design -- Chapter 5 Why We Need to Change the Conversation about Pension Reform -- Debating Pensions in Washington D.C. -- A New Book on Pension Reform -- Changing the Pension Reform Conversation -- A Fit-for-Purpose Pension Formula -- Intergenerational Fairness -- Where to Go from Here? -- Changing the Conversation -- Chapter 6 On the Costing and Funding of Defined-Benefit Pensions: Separating Fact and Fiction -- Unconventional Wisdom Needed -- Complete Pension Contracts -- Incomplete Pension Contracts -- The Risk-Free Arbitrage Test.