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Effects of Scheme Default Insurance on Decisions and Financial Outcomes in Defined Benefit Pension Schemes

Butt, Adam - 2013

A simulation investigation of the effect of default insurance on the optimal equity allocation and deficit spread period of a model defined benefit pension scheme is performed, using the old and new frameworks of the Pension Protection Fund in the U.K. as a starting point. The old default...

Persistent link: https://www.econbiz.de/10013089038

The In-State Equity Bias of State Pension Plans

Brown, Jeffrey R. - 2015

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/10013026893

Optimization-Based Guidelines to Retirement Planning and Pension Product Design

Konicz Bell, Agnieszka K. - 2015

Persistent link: https://www.econbiz.de/10013027547

What a Sustained Low-Yield Rate Environment Means for Retirement Income Adequacy : Results from the 2013 EBRI Retirement Security Projection Model®

VanDerhei, Jack - 2014

savings. Now a new paper by the nonpartisan Employee Benefit Research Institute (EBRI) quantifies the impact of a sustained …

Persistent link: https://www.econbiz.de/10013063598

Proposing a Funding Rate for US State Pension Plans

Reyes-Peña, Robinson; Dandapani, Krishnan; Lawrence, … - 2023

US state pension plans generally use overstated discount rates based on historical performance, creating the appearance 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...

Persistent link: https://www.econbiz.de/10014254596

Asset Pricing and Risk Sharing Implications of Alternative Pension Plan Systems

Coimbra, Nuno; Gomes, Francisco; Michaelides, Alexander; … - 2023

We show that incorporating defined benefit pension funds in an asset pricing model with incomplete markets improves its ability to jointly match the historical equity premium and riskless rate, and has important implications for risk sharing. We emphasize the importance of the pension fund's...

Persistent link: https://www.econbiz.de/10014351210

An Analysis of Risk-Taking Behavior for Public Defined Benefit Pension Plans

Mohan, Nancy - 2012

This paper investigates the determinants of public pension plan risk-taking behavior using the percentage of total plan assets invested in the equity markets and the pension asset beta as measures of investment risk. We find that government accounting standards strongly affect public fund...

Persistent link: https://www.econbiz.de/10013111857

Planning and Saving for Retirement

Sulka, Tomasz - 2020

Planning for retirement is difficult, but essential for future financial security. To formally analyse the interplay between planning and self-control, I introduce cognitive costs of formulating a plan into the two-system model of impulse control. The resulting possibility of rational inaction...

Persistent link: https://www.econbiz.de/10012834509

Contributory Retirement Saving Plans : Differences across Earnings Groups and Implications for Retirement Security

Dushi, Irena - 2017

This article examines how savings in defined contribution (DC) retirement plans vary across the earnings distribution …

Persistent link: https://www.econbiz.de/10012956952

Retirement Savings : A Tale of Decisions and Defaults

Dobrescu, Loretti - 2016

impact on retirement savings. Our empirical investigations show that preferences, demographic characteristics and labor … retirement savings patterns. In our model, individuals decide how much to save in a setting that combines an irreversible … (particularly the irreversible ones) are not carefully designed, retirement savings can be severely a ffected …

Persistent link: https://www.econbiz.de/10013006021