This study argues that the promotion of union goals could have positive, negative, or neutral effects on risk adjusted return performance. Moreover, the union's ability and incentive to use pension assets to promote union goals will vary with the design of the pension. Using panel data on over...

Canadian tax rules purport to offer equal access to deferred-income retirement saving. In practice, they do not. Uniform, target retirement savings limits must be adopted so that all Canadians will have the same opportunity to save for retirement. The author recommends replacing current...

This article tests the role the Slovenian capital market plays in determining corporate capital structure. It concludes that even though private corporations exhibit higher relative debt levels than their public counterparts, their dynamics are governed in similar ways. One potential reason for...

Public pension funds, as some of the world's largest institutional investors, can command substantial ownership and influence over corporate governance and strategy. This influence can extend to shareholder activism, and can be at odds with other corporate owners. This study analyses the role of...

The Public Employees' Retirement System of Nevada provides retirement, survivors and disability benefits for Nevada state and local government employees. It is currently one of the better-funded public-sector pensions, due to sound management and consistent government contributions.However, the...

Using recovery plan data of 213 underfunded Dutch pension funds for the years 2011, 2012 and 2013, discrete choice models are estimated describing pension funds' choices between three recovery measures: higher contributions, no indexation, and pension cuts. The estimation results suggest,...

This paper contains nine different essays on Social Security reform and multi-pillar pension plans. The nine topics are: 1. Transition costs2. Progressive indexation3. Government guarantees on private accounts4. Life cycle investing5. Impact of add-on accounts on Social Security solvency6....

We analyze the political stability of capital funded social security. In particular, using a stylized theoretical framework we study the mechanisms behind governments capturing pension assets in order to lower current taxes. This is followed by an analysis of the analogous mechanisms in a...

Some contend the US labor market will fail to adapt smoothly to an aging workforce, whereas others argue that employee pensions can and will play an important role in helping companies induce desired turnover patterns. This paper undertakes a longitudinal examination of pension retirement...