Deutschland steht vor einem demographischen Wandel, der zu gravierenden Anpassungsmaßnahmen in den staatlichen Sozialsystemen zwingt. Die Diskussion um die Reformen der Gesetzlichen Rentenversicherung hat das allen Bürgern in Deutschland vor Augen geführt. Heute finanzieren vier Personen im...

One of the most interesting features of the Chilean pension system is that approximately two-thirds of all retirees purchase annuities, resulting in annuitization rates much higher than in other countries. In this paper we review recent developments in the payout market for Chilean pensions,...

We calculate increases in contributions required to achieve full funding of state and local pension systems in the U.S. over 30 years. Without policy changes, contributions would have to increase by 2.5 times, reaching 14.1% of the total own-revenue generated by state and local governments. This...

State and local employee pension plans, which are primarily defined benefit plans, have come under increased scrutiny of late. Plan funding conditions have worsened during the early years of the 21st century, especially during the aftermath of the post-2007 recession. But the patterns of...