Administrative Costs In Public And Private Retirement Systems

Author : Olivia S. Mitchell
Publisher : Unknown
Page : 84 pages
File Size : 51,6 Mb
Release : 1996
Category : Mutual funds
ISBN : UOM:39015041232334

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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.

Author : Estelle James,James H. Smalhout,Dimitri Vittas
Publisher : World Bank Publications
Page : 80 pages
File Size : 42,5 Mb
Release : 2001
Category : Administrative Costs
ISBN : 8210379456XXX

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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.

Author : Organisation for Economic Co-operation and Development. Private Pensions and Insurance Unit
Publisher : OECD Publishing
Page : 284 pages
File Size : 50,9 Mb
Release : 2001
Category : Business & Economics
ISBN : STANFORD:36105110489668

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Private Pensions Systems by Organisation for Economic Co-operation and Development. Private Pensions and Insurance Unit Pdf

This book provides a description of private pension systems in selected OECD countries as well as information on administrative costs and related policy issues.

Author : OECD
Publisher : OECD Publishing
Page : 271 pages
File Size : 44,9 Mb
Release : 2001-03-28
Category : Electronic
ISBN : 9789264189805

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Private Pensions Series Private Pensions Systems Administrative Costs and Reforms by OECD Pdf

This book provides a description of private pension systems in selected OECD countries as well as information on administrative costs and related policy issues.

Author : Thomas P. Bleakney
Publisher : Edward Elgar Publishing
Page : 228 pages
File Size : 43,6 Mb
Release : 1972-01-29
Category : Business & Economics
ISBN : 0256014078

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Retirement Systems for Public Employees by Thomas P. Bleakney Pdf

From the Pension Research Council of the Wharton School

Author : Benjamin R. Page
Publisher : Government Printing Office
Page : 32 pages
File Size : 47,9 Mb
Release : 2004
Category : Business & Economics
ISBN : PURD:32754075430797

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Administrative Costs of Private Accounts in Social Security by Benjamin R. Page Pdf

And introduction -- Administrative tasks in a pension system -- Administrative costs in existing systems -- The administrative costs of a personal account system: identifying the trade-offs.

Author : Martin Feldstein
Publisher : University of Chicago Press
Page : 484 pages
File Size : 44,9 Mb
Release : 2008-04-15
Category : Political Science
ISBN : 9780226241821

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Privatizing Social Security by Martin Feldstein Pdf

This volume represents the most important work to date on one of the pressing policy issues of the moment: the privatization of social security. Although social security is facing enormous fiscal pressure in the face of an aging population, there has been relatively little published on the fundamentals of essential reform through privatization. Privatizing Social Security fills this void by studying the methods and problems involved in shifting from the current system to one based on mandatory saving in individual accounts. "Timely and important. . . . [Privatizing Social Security] presents a forceful case for a radical shift from the existing unfunded, pay-as-you-go single national program to a mandatory funded program with individual savings accounts. . . . An extensive analysis of how a privatized plan would work in the United States is supplemented with the experiences of five other countries that have privatized plans." —Library Journal "[A] high-powered collection of essays by top experts in the field."—Timothy Taylor, Public Interest

Author : Jacob Bikker
Publisher : Routledge
Page : 256 pages
File Size : 51,8 Mb
Release : 2017-11-22
Category : Business & Economics
ISBN : 9781317220848

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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.

Author : Anonim
Publisher : Unknown
Page : 108 pages
File Size : 45,8 Mb
Release : 1998
Category : Social security
ISBN : CORNELL:31924073248688

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Social Security by Anonim Pdf

Author : Gary Anderson
Publisher : OUP Oxford
Page : 366 pages
File Size : 49,8 Mb
Release : 2009-08-13
Category : Business & Economics
ISBN : 9780191610257

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The Future of Public Employee Retirement Systems by Gary Anderson Pdf

People covered by public pensions are often the subject of 'pension envy:' that is, their benefits might seem more generous and their contributions lower than those offered by the private sector. Yet this book points out that such judgments are often inaccurate, since civil servants hold jobs with few counterparts in private industry, such as firefighters, police, judges, and teachers. Often these are riskier, dirtier, and demand more loyalty and discretion than would be required of a more mobile labor force in the private sector. The debate challenges traditional ideas about how the public employee labor contract is structured and raises questions about how such employees are attracted to the public sector, retained and motivated on the job, and retired, via an entire compensation package of wages and benefits. Authors explore aspects of these schemes, addressing the cost and valuation debate, along with the political economy of how public pension asset pools are perceived and managed, an increasingly important topic in times of global financial turmoil. The discussion also explores ways that public pensions can be strengthened in the US, Japan, Canada, and Germany. The volume captures a vigorous debate currently underway by academics, financial experts, regulators, and plan sponsors, all seeking to define a new future for public retirement systems. It will be of substantial interest to a wide range of readers, since public sector employees and their representatives will naturally find the comparisons and arguments over valuation of keen interest. Public pension administrators and policymakers seeking an explanation of what makes these plans so costly will gain a new understanding of how the arguments stack up. Private sector employers and plan sponsors can learn much from efforts to reform these retirement systems in states and countries around the world. Finally, investors and the taxpaying public more generally may be at risk to cover these long-term promises, so it behoves them to pay close attention to the financing and investment practices of these plans, along with their valuation. This volume represents an invaluable addition to the Pension Research Council / Oxford University Press series as it includes actuarial, economic, and financial perspectives making it useful for academics, retirement plan administrators, and public employees wishing to understand the challenges facing public pensions.

Author : OECD
Publisher : OECD Publishing
Page : 180 pages
File Size : 47,5 Mb
Release : 2019-11-27
Category : Electronic
ISBN : 9789264876101

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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.

Author : Anonim
Publisher : World Bank Publications
Page : 244 pages
File Size : 41,8 Mb
Release : 2001-01-01
Category : Political Science
ISBN : 0821349600

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Brazil by Anonim Pdf

Social security is the single most important fiscal issue facing the Brazilian government today. This report summarizes the state, and potential policy implications, of the Brazilian Social security system. It also discusses policy recommendations for: social security and pensions, the national social security system, government pensions and funds, and the complementary pension systems. An overview of the social security challenge reviews the system components, revealing unsustainable fiscal imbalances and administrative weaknesses in both the unreformed General Regime for Social Security (RGPS), and the Pension Regime for Government Workers (RJU), with large tax-related distortions, and labor market inefficiency. Thus the goals of Brazil's reforms are to reduce fiscal deficits, lower actuarial imbalances, increase equity and redistribution, reduce collateral inefficiencies, and facilitate growth of funded pensions. The study implies there is no recourse for the country, but to lower the high, uniform replacement rates (experience suggests that rates higher than 40-70 percent, cannot be sustained). The key to effective reform of social security is widening the debate to include potential winners from these changes, particularly the private sector, the young, and the poor. Policy recommendations suggest that the adverse equity effects of RGPS reforms should be widely publicized to generate political support for deeper RJU reform.

Author : Lawrence Thompson
Publisher : Routledge
Page : 176 pages
File Size : 55,7 Mb
Release : 2019-05-23
Category : Social Science
ISBN : 9780429827686

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Older and Wiser by Lawrence Thompson Pdf

First published in 1998, this volume was developed as part of the Stockholm Initiative and sets out to assess the situation of providing for retirement and pensions. In the wake of intense debate over pay-as-you-go pensions, Lawrence Thomson for the most part leaves social and cultural issues for subsequent analysis, instead examining the economic

Author : OECD
Publisher : Org. for Economic Cooperation & Development
Page : 0 pages
File Size : 48,8 Mb
Release : 2017-12-05
Category : Electronic
ISBN : 9264287493

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Pensions at a Glance 2017 by OECD Pdf

The 2017 edition of Pensions at a Glance highlights the pension reforms undertaken by OECD countries over the last two years. Moreover, one special chapter focuses on flexible retirement options in OECD countries and discusses people's preferences regarding flexible retirement, the actual use of these programs and the impact on benefit levels. This edition also updates information on the key features of pension provision in OECD countries and provides projections of retirement income for today's workers. It offers indicators covering the design of pension systems, pension entitlements, the demographic and economic context in which pension systems operate, incomes and poverty of older people, the finances of retirement-income systems and private pensions.

Author : United States. Congress. House. Committee on Ways and Means. Subcommittee on Social Security
Publisher : Unknown
Page : 292 pages
File Size : 53,5 Mb
Release : 1999
Category : Business & Economics
ISBN : PSU:000043053520

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Impacts of the Current Social Security System by United States. Congress. House. Committee on Ways and Means. Subcommittee on Social Security Pdf