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The regulation of private and public pension plans in the United States begins with the premise that employer-sponsored plans resemble traditional donative, or gift, trusts. Accordingly, the Employee Retirement Income Security Act of 1974 (ERISA) famously “imports” major principles of...
Persistent link: https://www.econbiz.de/10012982283
composition of teacher workforce, and that program benefits far exceeded its costs. We propose mechanisms for observed long …
Persistent link: https://www.econbiz.de/10014247978
, funding and policy making. It discusses 'national interest' as defined by the Federal authorities in relation to UI: income … they encourage the acceptance of national standards through conditional funding. During the great recession this proved to … federal intervention including funding mirrors debates on the role of automatic stabilisation mechanisms in the Euro Area. …
Persistent link: https://www.econbiz.de/10011873610
, funding and policy making. It discusses “national interest” as defined by the Federal authorities in relation to UI: income … they encourage the acceptance of national standards through conditional funding. During the great recession this proved to … federal intervention including funding mirrors debates on the role of automatic stabilisation mechanisms in the Euro Area. …
Persistent link: https://www.econbiz.de/10011658805
We investigate the characteristics of infrastructure as an asset class from an investment perspective of a limited partner. While non U.S. institutional investors gain exposure to infrastructure assets through a mix of direct investments and private fund vehicles, U.S. investors predominantly...
Persistent link: https://www.econbiz.de/10011901262
We examine the impact of population aging on municipal access to credit. A one standard deviation increase in a state's population age leads to a 23 basis point increase in municipal bond issue spread. Three mechanisms drive this effect: income tax revenue, healthcare liabilities, and pension...
Persistent link: https://www.econbiz.de/10012850634
of healthy funding at the cost of future underfunding. Conversely, adopting a US Treasury discount rate, or another … alternative suggested by previous literature, would cause overstated funding gaps and contribution increases, mainly due to … statutory reserve regulation. For funding purposes, we identify a lower limit to the discount rate, defined as the Value …
Persistent link: https://www.econbiz.de/10014254596
Recordkeepers in DC pension plans are often paid indirectly in the form of revenue sharing from third-party funds on the menu. We show that these arrangements affect the investment menu of 401(k) plans. Revenue-sharing funds are more likely to be added to the menu and are less likely to be...
Persistent link: https://www.econbiz.de/10013477213
We use historical particularities of pension funding law to investigate whether managers of U.S. corporate defined …
Persistent link: https://www.econbiz.de/10012925664
We use historical particularities of pension funding law to investigate whether managers of U.S. corporate defined …
Persistent link: https://www.econbiz.de/10012972661