Administrative Costs And The Organization Of Individual Retirement Account Systems
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Administrative Costs and the Organization of Individual Retirement Account Systems by Estelle James,James H. Smalhout,Dimitri Vittas Pdf
Organizing individual retirement accounts through the institutional market and with constrained choice could substantially lower administrative costs. The tradeoff: rebidding problems, weaker performance incentives, inflexibility in the face of unforeseen contingencies, and an increased probability of corruption, collusion, and regulatory capture.
Administrative Costs in Public and Private Retirement Systems by Olivia S. Mitchell Pdf
This paper collects and analyzes available information on administrative costs associated with public and private retirement systems. We explore expenses of the US social security system and compare these with data from national systems in other countries. We find that administration costs of publicly-run social security systems vary a great deal across countries and institutional settings. A key factor influencing public old-age program costs is the system's scale: plans with more assets and more participants are less expensive. We also investigate expenses reported by US pension plans and mutual funds, programs seen by many as alternative mechanisms for managing retirement saving. Based on an analysis of costs associated with retirement savings plans managed by financial institutions, we conclude that privately managed old-age retirement programs would be somewhat more costly to operate than current publicly-managed programs, depending on the program's specific design. Nevertheless these costs would be accompanied by new services for participants.
TABLE OF CONTENTS Administrative Costs of Private Pensions Systems: Introduction I. Administrative Costs Administrative Costs and the Organization of Individual Account Systems: A Comparative Perspective by Estelle James, James Smalhout and Dimitri Vittas Administrative Charges for Funded Pensions: Comparison and Assessment of 13 Countries by Edward Whitehouse The Maturity Structure of Administrative Costs: Theory and the UK Experience by Mamta Murthi, J. Michael Orszag and Peter R. Orszag Administrative Costs, Investment Performance and Transparency: A View from Latin America by Carlos Grushka II. Selected Private Pension Systems The Australian Superannuation System by Jane Barrett and Keith Chapman Overview of the Canadian Private Pension System by Jane Pearse The Italian Private Pension System by Aurelio Sidoti and Enzo Mario Ricci Overview of the Corporate Pension Scheme in Japan by Tokihiko Shimizu Pensions in the Netherlands by Wouter Vinken Report on Swedish Pensions by Johan Lundström
Author : Onno W. Steenbeek,S. G. Fieke van der Lecq Publisher : Springer Science & Business Media Page : 247 pages File Size : 40,9 Mb Release : 2007-10-11 Category : Political Science ISBN : 9783540743743
Costs and Benefits of Collective Pension Systems by Onno W. Steenbeek,S. G. Fieke van der Lecq Pdf
Recommended by Nobel Laureate Robert C. Merton, this book offers the world a first-hand opportunity to learn why the Dutch pension system is so often praised and how it operates. The book also discusses aspects of the system that are less favorable, such as implicit value transfers from younger to older generations that limit mobility of labor. Throughout the discussions, the authors provide quantitative evidence to support their assertions.
Pension Fund Economics and Finance by Jacob Bikker Pdf
Pension fund benefits are crucial for pensioners’ welfare and pension fund savings have accumulated to huge amounts, covering a major part of world-wide institutional investments. However, the literature on pension fund economics and finance is rather limited, caused, in part, to limited data availability. This book contributes to this literature and focuses on three important areas. The first is pension fund (in)efficiency, which has a huge impact on final benefits, particularly when annual spoilage accumulates over a lifetime. Scale economies, pension plans complexity and alternative pension saving plans are important issues. The second area is investment behavior and risk-taking. A key question refers to the allocation of investments over high risk/high return and relatively safe assets. Bikker investigates whether pension funds follow the life-cycle hypothesis: more risk and return for pension funds with young participants. Many pension funds are rather limited in size, which may raise the question how financially sophisticated the pension fund decision makers are: rather professionals or closer to unskilled private persons? The third field concerns two regulation issues. How do pension fund respond to shocks such as unexpected investment returns or changes in life expectancy? What are the welfare implications to the beneficiary for different methods of securing pension funding: solvency requirements, a pension guarantee fund, or sponsor support? This groundbreaking book will challenge the way pension fund economics is thought about and practiced.
Review of Current Investigations and Regulatory Actions Regarding the Mutual Fund Industry by United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs Pdf
Catastrophe Risk Management by John D. Pollner Pdf
In providing support for disaster-prone areas such as the Caribbean, the development community has begun to progress from disaster reconstruction assistance to funding for investment in mitigation as an explicit tool for sustainable development. Now it must enter a new phase, applying risk transfer mechanisms to address the financial risk of exposure to catastrophic events that require funding beyond what can be controlled solely through mitigation and physical measures.
The Quality of Bureaucracy and Capital Account Policies by Chong-En Bai,Shang-Jin Wei Pdf
The extent of bureaucracy varies extensively across countries, but the quality of bureaucracy within a country changes more slowly than economic policies. The authors propose that the quality of bureaucracy may be an important structural determinant of open economy macroeconomic policies - especially the imposition or removal of capital control. In their model, capital controls are an instrument of financial repression. They entail efficiency loss for the economy but also generate implicit revenue for the government. The results show that bureaucratic corruption translates into the government's reduced ability to collect tax revenues. Even if capital controls and financial repression are otherwise inefficient, the government still has to rely on them to raise revenues to provide public goods. Among the countries for which the authors could get relevant data, they find that the more corrupt ones are indeed more likely to impose capital controls, a pattern consistent with the model's prediction. To deal with possible reverse causality, they use the extent of corruption in a country's judicial system, and the degree of democracy, as the instrumental variables for bureaucratic corruption. The instrumental variable regressions show the same result: more corrupt countries are associated with more severe capital controls. The results suggest that as countries develop and improve their public institutions, reducing bureaucratic corruption over time, they will choose to gradually liberalize their capital accounts. Removing capital controls prematurely when forced by outside institutions to do so could reduce rather than improve their economic efficiency.
From Users to Custodians by Liz Wily,Peter A. Dewees Pdf
In the face of scarce public resources and the burgeoning demand from the growing population for agricultural land and woodland products, Tanzania has increasingly recognized the need to bring individuals, local groups, and communities into the policy, planning, and management process if woodlands are to remain productive in the coming decades.
Pensions at a Glance 2019 OECD and G20 Indicators by OECD Pdf
The 2019 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, two special chapters focus on non-standard work and pensions in OECD countries, take stock of different approaches to organising pensions for non-standard workers in the OECD, discuss why non-standard work raises pension issues and suggest how pension settings could be improved.
Lessons from Pension Reform in the Americas by Stephen J. Kay,Tapen Sinha Pdf
Latin America has seen a host of pathbreaking pension reforms, including privatizations that have served as examples for governments throughout the world. Addressing pressing policy issues and highlighting a broad range of country experiences, this book provides an unparalleled account of the lessons from pension reform in North and South America
