Reinventing The Retirement Paradigm

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Reinventing the Retirement Paradigm

Robert L. Clark,Olivia S. Mitchell
Reinventing the Retirement Paradigm Book PDF

Author : Robert L. Clark,Olivia S. Mitchell
Publisher : OUP Oxford
Page : 312 pages
File Size : 55,8 Mb
Release : 2005-08-11
Category : Business & Economics
ISBN : 9780191536410

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Reinventing the Retirement Paradigm by Robert L. Clark,Olivia S. Mitchell Pdf

This book explores how rising pension and healthcare costs, along with workforce aging, are affecting pension and retirement planning around the world. Many middle-aged workers now realize that they will have to work longer than intended, as they begin to recognize that their retirement resources will be inadequate to finance retirement consumption. Volatile capital markets, rising medical-care costs, and low saving rates make retirement behavior and policy a moving target. Olivia Mitchell, executive director of The Pension Research Council at Wharton, and Robert L. Clark, Professor of Business Management and Economics at North Carolina State University, explore these themes with colleagues, touching on a diverse set of issues ranging from employment trends to pension accounting and investment, to retirement system overhaul. They illustrate how employers are actively reformulating the meaning of work and retirement, seeking to encourage more people to work longer than ever before in the face of projected labor shortages. At the same time, public and private trust in traditional pension offerings is rapidly eroding, as companies alter, amend, and terminate their conventional plans in the face of poor investment performance and new methods of pension accounting. Experts from the UK, the US, Japan, Sweden, and Canada offer international perspectives on the evolving institutions of retirement practice. This book provides readers a range of insights and strategies not available in other volumes, and it represents an invaluable addition to the PRC/OUP series. It will be particularly valuable for managers working toward more efficient pension plans; to scholars and policymakers seeking to maximize pension design and effectiveness; and to actuaries and tax specialists concerned with pension regulation. The Pension Research Council at the Wharton School of the University of Pennsylvania was founded 50 years ago to encourage research and teaching on pensions and retirement security. Council projects address the long-term issues that underlie contemporary concerns and seek to broaden public understanding of these complex arrangements through research into their social, economic, legal, actuarial, and financial foundations of privately and publicly-provided benefits.

Reinventing Retirement

Miriam Goodman
Reinventing Retirement Book PDF

Author : Miriam Goodman
Publisher : Chronicle Books
Page : 177 pages
File Size : 41,9 Mb
Release : 2010-07-01
Category : Business & Economics
ISBN : 9780811873208

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Reinventing Retirement by Miriam Goodman Pdf

With 76 million baby boomers on the cusp of retirement in the U.S. alone, it's time to look beyond finances and examine how ending traditional, full-time work impacts every aspect of life. Author Miriam Goodman has interviewed hundreds of retirees on the subjects of home, marriage, family, friends, hobbies, health, and even on going back to part- or full-time work. Their insights will help readers create their personalized strategy for an active and fulfilling retirementwhether that means sailing around the world, starting a new business, or moving to be closer to grandchildren. A workbook format with tabbed sections makes it easy to access the highly practical information that makes Reinventing Retirement an essential guide to this exciting new phase of life.

Extending Work Life

Robert Clark,Melinda Sandler Morrill
Extending Work Life Book PDF

Author : Robert Clark,Melinda Sandler Morrill
Publisher : W.E. Upjohn Institute
Page : 65 pages
File Size : 49,9 Mb
Release : 2017-02-28
Category : Business & Economics
ISBN : 9780880995290

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Extending Work Life by Robert Clark,Melinda Sandler Morrill Pdf

Aging men and women are increasingly remaining in the labor force. Most often the reason for this is that they need to work additional years in order to be able to support an increasing number of years in retirement. This leaves employers scrambling for ways to adapt to a growing number of retirement-aged workers. Clark and Morrill provide a thorough assessment of the costs and benefits of accommodating later retirement ages, and they describe options employers may use to create some new form of employment contract with aging workers. The most prominent issues employers with aging workers face are declining productivity, rising labor and benefits costs, and a suboptimal age distribution of their workforces. According to the authors, employers could respond to these issues by finding new ways to accommodate older workers with, for instance, phased retirement and return-to-work policies. But the success of such policies also depends on tax policies and whether government-provided retirement benefits could be redesigned to play a role in a newly-defined employment relationship.

Restructuring Retirement Risks

David Blitzstein,Olivia S. Mitchell,Stephen P. Utkus
Restructuring Retirement Risks Book PDF

Author : David Blitzstein,Olivia S. Mitchell,Stephen P. Utkus
Publisher : Oxford University Press on Demand
Page : 270 pages
File Size : 47,5 Mb
Release : 2006-08-03
Category : Business & Economics
ISBN : 9780199204656

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Restructuring Retirement Risks by David Blitzstein,Olivia S. Mitchell,Stephen P. Utkus Pdf

Highlighting retirement security as a major policy concern, this book addresses the question 'What are the risks & rewards in pensions, & what paths can stakeholders chose to solve these problems?'. It deals with employees' needs & expectations, employers' intentions & realizations, & policymakers' efforts to resolve the many challenges.

Happy Retirement: The Psychology of Reinvention

DK
Happy Retirement The Psychology of Reinvention Book PDF

Author : DK
Publisher : Penguin
Page : 389 pages
File Size : 53,9 Mb
Release : 2016-01-05
Category : Business & Economics
ISBN : 9781465452498

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Happy Retirement: The Psychology of Reinvention by DK Pdf

A practical, fully illustrated guide to planning and enjoying retirement, grounded in psychological research. Retirement can bring immense fulfillment but also can be a source of stress, especially today. Retirement: The Psychology of Reinvention uses psychological research and a unique visual style of infographics and illustrations to provide readers with a retirement roadmap just right for them. Fully illustrated, with constructive advice for all retirees — whatever the age and circumstances — and inspirational guidance from a wealth of sources, Retirement: The Psychology of Reinvention answers all the questions readers are likely to ask at any stage of retirement.

Remaking Retirement

Olivia Mitchell,Annamaria Lusardi
Remaking Retirement Book PDF

Author : Olivia Mitchell,Annamaria Lusardi
Publisher : Oxford University Press
Page : 305 pages
File Size : 42,8 Mb
Release : 2020-10-24
Category : Business & Economics
ISBN : 9780192637550

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Remaking Retirement by Olivia Mitchell,Annamaria Lusardi Pdf

Around the world, people nearing and entering retirement are holding ever-greater levels of debt than in the past. This is not a benign situation, as many pre-retirees and retirees are stressed about their indebtedness. Moreover, this growth in debt among the older population may render retirees vulnerable to financial shocks, medical care bills, and changes in interest rates. Contributors to this volume explore key aspects of the rise in debt across older cohorts, drill down into the types of debt and reasons for debt incurred by the older population, and review policies to remedy some of the financial problems facing older persons, in the US and elsewhere. The authors explore which groups are most affected by debt and identify the factors producing this important increase in leverage at older ages. It is clear that the economic and market environment is influential when it comes to saving and debt. Access to easy borrowing, low interest rates, and the rising cost of education have had significant impacts on how much people borrow, and how much debt they carry at older ages. In this environment, the capacity to manage debt is ever more important as older workers lack the opportunity to recover from mistakes.

Recreating Sustainable Retirement

Olivia S. Mitchell,Raimond Maurer,P. Brett Hammond
Recreating Sustainable Retirement Book PDF

Author : Olivia S. Mitchell,Raimond Maurer,P. Brett Hammond
Publisher : OUP Oxford
Page : 336 pages
File Size : 43,7 Mb
Release : 2014-10-16
Category : Business & Economics
ISBN : 9780191029974

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Recreating Sustainable Retirement by Olivia S. Mitchell,Raimond Maurer,P. Brett Hammond Pdf

The financial crisis and the ensuing Great Recession alerted those seeking to protect old-age security, about the extreme risks confronting the financial and political institutions comprising our retirement system. The workforce of today and tomorrow must count on longer lives and deferred retirement, while at the same time it is taking on increased responsibility for managing retirement risk. This volume explores new ways to think about, manage, and finance longevity risk, capital market risk, model risk, and regulatory risk. This volume offers an in-depth analysis of the 'black swans' that threaten private and public pensions around the world. Capital market shocks, surprises to longevity, regulatory/political risk, and errors in modelling, will all have profound consequences for stakeholders ranging from pension plan participants, plan sponsors, policymakers, and those who seek to make retirement more resistant. This book analyzes such challenges to retirement sustainability, and it explores ways to better manage and finance them. Insights provided help build retirement systems capable of withstanding what the future will bring.

Reshaping Retirement Security

Raimond Maurer,Olivia S. Mitchell,Mark J. Warshawsky
Reshaping Retirement Security Book PDF

Author : Raimond Maurer,Olivia S. Mitchell,Mark J. Warshawsky
Publisher : Oxford University Press
Page : 128 pages
File Size : 46,5 Mb
Release : 2012-09-27
Category : Business & Economics
ISBN : 9780191636301

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Reshaping Retirement Security by Raimond Maurer,Olivia S. Mitchell,Mark J. Warshawsky Pdf

The worldwide financial crisis has wrought deep changes in capital and labor markets, old-age retirement systems, and household retirement and consumption patterns. Confidence has been shaken in both the traditional defined benefit and defined contribution plans. Around the world, plan sponsors, fiduciaries, policymakers, and households have gained a new awareness of retirement risk. When pressed to reform post-crisis, many would recommend enhancing financial advice for plan participants, emphasizing flexibility and the positive effect of working another one or two years to make up for investment losses in the downturn. Adding to this is the continuing need for financial education, essential as the retirement system moves increasingly toward personal account pensions. Perhaps most important of all is the need for greater understanding of risk throughout the retirement security system, along with new approaches to re-engineering retirement pensions. This volume explores the lessons to be learnt for retirement planning and long-term financial security in view of the massive shocks to stock markets, labour markets, and pension plans resulting from the financial crisis. It aims to rethink retirement in the new economic era, including the resilience of defined contribution plans and how defined benefit plans reacted to the financial crisis.

The Market for Retirement Financial Advice

Olivia S. Mitchell,Kent Smetters
The Market for Retirement Financial Advice Book PDF

Author : Olivia S. Mitchell,Kent Smetters
Publisher : Oxford University Press
Page : 362 pages
File Size : 45,9 Mb
Release : 2013-10
Category : Business & Economics
ISBN : 9780199683772

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The Market for Retirement Financial Advice by Olivia S. Mitchell,Kent Smetters Pdf

The latest volume in the Pension Research Council series examines the financial advice profession as financial literacy becomes increasingly necessary for those saving for retirement.

Financial Decision Making and Retirement Security in an Aging World

Olivia S. Mitchell,P. Brett Hammond,Stephen Peter Utkus
Financial Decision Making and Retirement Security in an Aging World Book PDF

Author : Olivia S. Mitchell,P. Brett Hammond,Stephen Peter Utkus
Publisher : Oxford University Press
Page : 249 pages
File Size : 48,6 Mb
Release : 2017
Category : Business & Economics
ISBN : 9780198808039

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Financial Decision Making and Retirement Security in an Aging World by Olivia S. Mitchell,P. Brett Hammond,Stephen Peter Utkus Pdf

As the world's population lives longer, it will become increasingly important for plan sponsors, retirement advisors, regulators, and financial firms to focus closely on how older persons fare in the face of rising difficulties with cognition and financial management. This book offers state-of-the-art research and recommendations on how to evaluate when older persons need financial advice, help them make better financial decisions, and to identify policy options for handling these individual and social challenges efficiently and fairly. This latest volume in the Pension Research Council series, draws lessons from theory and practice, and will be of interest to employees and retirees, consumers and researchers, and financial institutions working to design better retirement plan offerings.

Real-World Shocks and Retirement System Resiliency

Olivia S. Mitchell,John Sabelhaus,Stephen Utkus
Real World Shocks and Retirement System Resiliency Book PDF

Author : Olivia S. Mitchell,John Sabelhaus,Stephen Utkus
Publisher : Oxford University Press
Page : 334 pages
File Size : 41,6 Mb
Release : 2024-01-07
Category : Business & Economics
ISBN : 9780198894155

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Real-World Shocks and Retirement System Resiliency by Olivia S. Mitchell,John Sabelhaus,Stephen Utkus Pdf

This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Growing awareness of real-world shocks including market downturns, health surprises, and labor market readjustment is calling into question the ability of global retirement systems to remain healthy and sustain future retirees. Financial and labor market stresses are shaping how older workers fare as they head into retirement, and how younger workers must prepare financially for their futures. These shocks come on top of long-standing concerns surrounding rising longevity, along with the adequacy and sustainability of public and private benefit systems. This volume explores how these challenges will drive the need for new policy drawing on perspectives of senior and new researchers to the field, as well as exciting new datasets.

Pension Fund Risk Management

Marco Micocci,Greg N. Gregoriou,Giovanni Batista Masala
Pension Fund Risk Management Book PDF

Author : Marco Micocci,Greg N. Gregoriou,Giovanni Batista Masala
Publisher : CRC Press
Page : 766 pages
File Size : 42,8 Mb
Release : 2010-01-25
Category : Business & Economics
ISBN : 9781439817544

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Pension Fund Risk Management by Marco Micocci,Greg N. Gregoriou,Giovanni Batista Masala Pdf

As pension fund systems decrease and dependency ratios increase, risk management is becoming more complex in public and private pension plans. Pension Fund Risk Management: Financial and Actuarial Modeling sheds new light on the current state of pension fund risk management and provides new technical tools for addressing pension risk from an integr

Pension Funds and Sustainable Investment

Anonim
Pension Funds and Sustainable Investment Book PDF

Author : Anonim
Publisher : Oxford University Press
Page : 273 pages
File Size : 52,5 Mb
Release : 2023-04-15
Category : Business & Economics
ISBN : 9780192889218

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Pension Funds and Sustainable Investment by Anonim Pdf

This is an open access title available under the terms of a CC BY-NC-ND 4.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. Since its green shoots first emerged around 50 years ago, acceptance of environmental, social, and governance (ESG) considerations in institutional investing-especially at pension funds-has evolved with distinct shifts in investor preferences. This Pension Research Council volume traces these shifts and their implications, leading up to the present day. The book notes that investors have diverse reasons for devoting attention to ESG criteria when deciding where to invest their money. Some had religious motives, such as Quakers who focused on values; this approach can offer some risk mitigation. Nevertheless, studies that look at whether divestment actually changes companies' behaviors show that this rarely occurs. Accordingly, this book offers a variety of distinct viewpoints from a variety of countries, on whether, how, and when ESG criteria should, and should not, drive pension fund investments. The authors also find that policymakers should consider fund consolidation in private sector retirement systems, along with whether service-provider incentives could be better be aligned with sustainability incentives. For instance, boosting transparency in these markets would help generate better-informed policies, while providing beneficiaries with information relevant to their savings choices.

Reconstructing Retirement

David Lain
Reconstructing Retirement Book PDF

Author : David Lain
Publisher : Policy Press
Page : 224 pages
File Size : 42,9 Mb
Release : 2018-01-24
Category : Business & Economics
ISBN : 9781447326199

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Reconstructing Retirement by David Lain Pdf

In the United Kingdom, retirement programs are being reconstructed to follow the American practice of abolishing mandatory retirement and increasing state pension ages. This timely book compares prospects for work and retirement at age sixty five-plus in both the United States and the United Kingdom. After exploring the shifting logic behind both nations' policies--policies that increase both the need and opportunities to work past age sixty five--David Lain presents an original comparative statistical analysis on the wide range of factors influencing employment at this age, from the ability to move between jobs in order to remain employed to changing employment trends. He then proposes a series of policies to address these factors across the life-course and promote security and autonomy for older people. Pathways to employment after sixty five are complex, and pressures to work at this age are likely to result in very unequal outcomes. This book will play a vital role in creating a more positive, more equitable future for late careers and retirement.

The Future of Public Employee Retirement Systems

Gary Anderson
The Future of Public Employee Retirement Systems Book PDF

Author : Gary Anderson
Publisher : OUP Oxford
Page : 366 pages
File Size : 42,5 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.