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Pension Plan Integration as Insurance Against Social Security Risk
Merton, Robert C. - 2008
The manifest purposes of integrating an employer-provided pension plan with social security are:(1) to ensure retirement income adequacy for all covered employees; and (2) to ensure retirement income equity, defined as equal total replacement rates for all employees regardless of salary level....
Persistent link: https://www.econbiz.de/10012774674
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Explaining Pension Dynamics
Luzadis, Rebecca A. - 2007
pensions can and will play an important role in helping companies induce desired turnover patterns. This paper undertakes a … financial incentives inherent in pensions, so that most of our attention is directed to analysis of financial benefit level …
Persistent link: https://www.econbiz.de/10012777143
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The In-State Equity Bias of State Pension Plans
Brown, Jeffrey R.; Pollet, Joshua Matthew; Weisbenner, … - 2021
This paper provides evidence on the investment behavior of 27 state pension plans that manage their own equity portfolios. Even though these state plans typically hold broadly diversified portfolios, they substantially over-weight the equity of companies that are headquartered in-state. The...
Persistent link: https://www.econbiz.de/10013224347
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Pensions as Severance Pay
Lazear, Edward P. - 2021
Earlier claims that pensions serve as severance pay are corroborated by a new data set drawn from the 1980 Banker …
Persistent link: https://www.econbiz.de/10013249264
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Pension Colas
Gustman, Alan L.; Steinmeier, Thomas L. - 2021
This paper studies cost of living adjustments in pensions from the perspective of labor economics. Evidence from … value of pensions by only fourteen percent. Simulation analysis allows an examination of the effects of pension COLA …
Persistent link: https://www.econbiz.de/10013213433
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On Consumption-Indexed Public Pension Plans
Merton, Robert C. - 2010
Using the known result that life-cycle investors will optimally hold portfolios whose returns are perfectly correlated with aggregate consumption, this paper uses a simple intertemporal general equilibrium model to explore the merits and feasibility of pension plans where both accumulations and...
Persistent link: https://www.econbiz.de/10012763068
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The Stampede Toward Defined Contribution Pension Plans : Fact or Fiction?
Gustman, Alan L. - 2007
This paper questions recent conclusions that the trend towards defined contribution plans and away from defined benefit plans is due to increased pension regulation and/or a changing economic environment. Using data from IRS 5500 filings by pension administrators, we find that at least half of...
Persistent link: https://www.econbiz.de/10012777142
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Individual Financial Decisions in Retirement Saving Plans and the Provision of Resources for Retirement
Poterba, James M. - 2000
Proposals for mandatory private saving accounts differ in the degree of investment discretion that they provide to individual savers, and in their provisions for annuitization of accumulated assets. With respect to investment choices, some argue that individuals must be prevented from investing...
Persistent link: https://www.econbiz.de/10012789302
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The Incentive Effects of Private Pension Plans
Kotlikoff, Laurence J. - 2010
The proportion of workers covered by pensions has increased very substantially over the past two or three decades, and … in particular the number of older workers with pensions continues to increase. During the same period,and especially in … related. This paper examines the incentive effects of private pensions. We find that the provisions of pension plans provide …
Persistent link: https://www.econbiz.de/10012762972
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Lump-Sum Distributions from Retirement Saving Plans : Receipt and Utilization
Poterba, James M. - 2010
One of the central issues in evaluating the ongoing shift from defined benefit (DB) to defined contribution (DC) pension plans is the degree to which assets in DC plans will be withdrawn before plan participants reach retirement age. The annual flow of withdrawals from such plans, which are...
Persistent link: https://www.econbiz.de/10012763718