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Author : United States. Congress. House. Committee on Ways and Means
Publisher : Unknown
Page : 128 pages
File Size : 48,7 Mb
Release : 2002
Category : Business & Economics
ISBN : LOC:00098178260
Author : United States House of Representatives,Committee on Ways and Means (house),United State Congress
Publisher : Unknown
Page : 116 pages
File Size : 45,5 Mb
Release : 2020-03-07
Category : Electronic
ISBN : 9798617328853
Retirement security and defined contribution plans: hearing before the Committee on Ways and Means, House of Representatives, One Hundred Seventh Congress, second session, February 26, 2002.
Author : Olivia S. Mitchell,Sylvester J. Schieber
Publisher : University of Pennsylvania Press
Page : 310 pages
File Size : 45,6 Mb
Release : 1998-05-29
Category : Business & Economics
ISBN : 0812234391
Table of Contents
Author : Don Ezra,Bob Collie,Matthew X. Smith
Publisher : John Wiley & Sons
Page : 298 pages
File Size : 53,8 Mb
Release : 2009-06-08
Category : Business & Economics
ISBN : 9780470494806
Praise For The Retirement Plan Solution "Short, clear, complete, and always interesting. Best book on DC plans and what we should do-now." —Charles D. Ellis, author, Winning the Loser's Game "At a time when the world is in turmoil, along with retirement expectations, the authors have hit a home run. After reading this book, I have a plan. Read it for your path to retirement security." —Dallas Salisbury, President and CEO, Employee Benefit Research Institute "The Retirement Plan Solution offers a refreshing and provocative perspective on how to assess retirement needs, save to meet these needs, and manage the retirement payout process. In this time of financial turmoil, employees, plan sponsors, and financial advisors will find this highly practical resource volume both useful and humorous." —Olivia S. Mitchell, Director, Pension Research Council, Wharton School "The Retirement Plan Solution is a map to the future of 401(k) retirement plans. But it is not just a theoretical view of what could be. Instead, the authors describe the needs and trends that are already here, and then describe the changes that are developing to meet those needs. It is about the tomorrow that is happening today." —Fred Reish, Managing Director, Reish Luftman Reicher & Cohen "The respected authors have created a readable, timely, and very helpful book on all aspects of retirement planning. The suggestions are practical, the information is concise, and the book is highly recommended for anyone that is interested in sound financial planning." —Moshe A. Milevsky, PhD, Finance Professor, York University, Toronto, Canada "This is a must-read for people working in the retirement industry, as well as those who simply care about how to improve their chance of reaching a financially secure retirement. In a clear and simple fashion, the authors deliver one of the best books to date on inefficiencies in the current DC plan and potential improvements." —Peng Chen, President, Ibbotson Associates
Author : Jeffery V. Bailey,Kurt D. Winkelmann
Publisher : CFA Institute Research Foundation
Page : 108 pages
File Size : 47,6 Mb
Release : 2021-08-11
Category : Business & Economics
ISBN : 9781952927218
American workers rely on their employers to provide a way to generate retirement income beyond their Social Security earnings. Many employers still offer traditional defined benefit (DB) pension plans. A growing majority, however, have replaced DB plans with account-based defined contribution (DC) plans. Virtually everyone acknowledges that the basic DC plan design is flawed. Yet as a society with low private savings and a fraying Social Security system, we count on this imperfect structure to serve as a retirement security bulwark. Workers and society both need the employer-sponsored retirement system to function well. Enhancing DC plan design therefore becomes critical. Defined Contribution Plans: Challenges and Opportunities for Plan Sponsors offers guidance to plan sponsors interested in better understanding the primary issues confronting DC plans. We wrote this book from the viewpoint of the plan sponsor seeking to improve the DC system, and it follows five major themes: the plan participant, the plan sponsor, plan design, investments and investment managers, and asset decumulation in retirement. We present the material conversationally from a high-level perspective. We have not sought to write an encyclopedia on DC plans but rather focus on the basic features of well-run plans. We address key challenges facing DC plans and offer associated design and policy recommendations for plan sponsors and other interested parties to consider. Plan design improvements almost certainly will be incremental, rather than sweeping top-down changes mandated by regulators. Plan sponsors individually will make the important decisions that have lasting consequences for participants and for society. Our objective is to spark interest among sponsors, encouraging them to carry out additional research and take action. We believe the DC system will be strengthened by informed sponsors advocating for and implementing thoughtful strategic changes to their plans.
Author : Raimond Maurer,Olivia S. Mitchell,Mark J. Warshawsky
Publisher : Oxford University Press
Page : 128 pages
File Size : 46,6 Mb
Release : 2012-09-27
Category : Business & Economics
ISBN : 9780191636301
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.
Author : William G. Gale,J. Mark Iwry,David C. John
Publisher : Brookings Institution Press
Page : 406 pages
File Size : 45,6 Mb
Release : 2021-07-27
Category : Business & Economics
ISBN : 9780815739357
Pensions and retirement saving plans have helped millions of households build financial security. But tens of millions of people have been left behind, without access to these wealth accumulation vehicles. For many others, the plans they have do not ensure financial security in retirement. The problems that underlie these failures can be addressed. This book proposes concrete, practical ways to make dependable retirement income accessible for all Americans—not just those with means. Individual accounts have eclipsed traditional pensions as the primary vehicle for retirement saving in the United States—a shift that underlies many sources of retirement insecurity. The 401(k) plan and similar accounts have increased financial security for many people but have done nothing for millions more. Many of those who do have such plans are burdened with the need to make numerous saving, investment, and withdrawal decisions that stress their financial acumen. Financial advice that is unbiased, unconflicted, and affordable is often difficult to find. Managing wealth in retirement—especially the need to convert retirement savings into steady income—poses significant challenges that current financial instruments and practices do not adequately address. Economic downturns like the Great Recession and the COVID-19 pandemic increase financial insecurity and make addressing these issues more urgent. Written by noted experts in the field, Wealth After Work offers practical solutions that address these concerns. The proposals show how policymakers can help all Americans gain access to retirement savings accounts, obtain better information about their savings choices, and better manage their wealth in retirement. By proposing solutions that build on, rather than replace the existing system, the book provides a nuanced, practical guide to reform that would benefit all Americans.
Author : AFL-CIO Center for Working Capital
Publisher : Unknown
Page : 109 pages
File Size : 51,8 Mb
Release : 200?
Category : Defined contribution pension plans
ISBN : 0972303618
Author : Alicia Haydock Munnell,Steven A. Sass
Publisher : W.E. Upjohn Institute
Page : 182 pages
File Size : 49,6 Mb
Release : 2006
Category : Business & Economics
ISBN : 9780880992916
The purpose of this book is to explore the use of equities to help solve the Social Securityfinancing problem.
Author : William G. Gale,John B. Shoven,Mark J. Warshawsky
Publisher : Rowman & Littlefield
Page : 428 pages
File Size : 45,8 Mb
Release : 2004-04-21
Category : Business & Economics
ISBN : 0815796420
The private pension system, together with Social Security, has provided millions of Americans with income security in retirement. But over the past thirty years, pension coverage has stagnated, leaving behind some vulnerable groups. Defined contribution plans have exposed workers to greater investment risk, while cash balance and other hybrid plans may have adverse effects on older workers caught in the transition. Pension regulations, infamous for their complexity, can be bewildering to policy analysts and policymakers. Private Pensions and Public Policies sheds timely and much-needed light on specific issues within the broader context and framework of pension reform. Contributors focus on topics that must be addressed in any reform effort, including the effects of the shift in emphasis toward defined contribution plans (after the 1974 Employee Retirement Income and Security Act) and hybrid plans (from the 1990s); regulatory issues such as nondiscrimination rules and contribution limits; how to increase the information available to participants and improve financial education; how participants in defined contribution plans make choices on questions such as asset allocation, back-loaded versus front-loaded saving, and annuities versus lump sum distributions; and the interaction of the private pension system with Social Security. Contributors include Robert L. Clark (North Carolina State University), Sylvester J. Schieber (Watson Wyatt Worldwide), Richard A. Ippolito (George Mason University School of Law), Alan L. Gustman (Dartmouth College), Thomas L. Steinmeier (Texas Tech University), John Karl Scholz (University of Wisconsin), Dean M. Maki, (JPMorgan Chase), William Even (Miami University of Ohio), Jagadeesh Gokhale (American Enterprise Institute), Laurence J. Kotlikoff (Boston University), Mark J. Warshawsky (TIAA-CREF Institute), Annika Sunden (Boston College), Andrew A. Samwick (Dartmouth College), David A. Wise (Harvard University), Joel Dickson (T
Author : United States. Congress. House. Committee on Ways and Means. Subcommittee on Oversight
Publisher : Unknown
Page : 122 pages
File Size : 40,8 Mb
Release : 2003
Category : Business & Economics
ISBN : STANFORD:36105050310353
Author : Teresa Ghilarducci,Tony James
Publisher : Columbia University Press
Page : 177 pages
File Size : 44,6 Mb
Release : 2018-01-23
Category : Political Science
ISBN : 9780231546270
Retirement shouldn’t be just for the rich: “Finally, a practical plan to address Americans’ lack of adequate retirement savings.”—Michael Bloomberg Everyone deserves to be able to retire with dignity, but this core feature of the social contract is in jeopardy. Companies have swerved away from pensions, and most of the workforce has woefully inadequate retirement savings. If we don’t act to fix this broken system, rates of impoverishment for senior citizens threaten to skyrocket, and tens of millions of Americans reaching retirement age in the coming decades will be forced to delay retirement and will experience a dramatic drop in their standard of living. In Rescuing Retirement, economist Teresa Ghilarducci and billionaire businessman Tony James offer a comprehensive yet simple plan to help workers save for retirement, increase retirement savings by earning higher returns, and guarantee lifelong income for everyone. Built on people’s own money in individual Guaranteed Retirement Accounts, the plan requires no new taxes, no more bureaucracy, and no increase in the deficit. Speaking to Americans’ growing anxiety about their ability to retire, Rescuing Retirement provides answers to anyone wanting to understand the growing movement to protect a period of life once considered a deserved time of rest and creativity and offers a practical guide to the future of secure retirement. “Ghilarducci and James never slip into wonk-speak or jargon, and lay readers will appreciate the way the authors make sense of complex economic issues.”—Publishers Weekly
Author : United States Government Accountability Office
Publisher : Createspace Independent Publishing Platform
Page : 66 pages
File Size : 40,8 Mb
Release : 2018-01-23
Category : Electronic
ISBN : 1984126334
Private Pensions: Low Defined Contribution Plan Savings May Pose Challenges to Retirement Security, Especially for Many Low-Income Workers
Author : United States. Congress. Senate. Committee on Health, Education, Labor, and Pensions. Subcommittee on Retirement Security and Aging
Publisher : Unknown
Page : 100 pages
File Size : 43,9 Mb
Release : 2005
Category : Business & Economics
ISBN : PSU:000058170472
Author : Labor Dept (U S,Labor Dept (U S ),Employee Retirement Security Administration (U.S.)
Publisher : Government Printing Office
Page : 42 pages
File Size : 54,5 Mb
Release : 2018-01-05
Category : Business & Economics
ISBN : 0160942195
This booklet covers private investment retirement plans governed by state laws and guidelines in the Employee Retirement Income Security Act of 1974 (ERISA) and the Internal Revenue Code. Your employer's retirement savings plan is an essential part of your future financial security. This booklet helps you understand your plan and explains what information you should review periodically and where to go for help with questions.. It includes information on: Different types of retirement plans; What information you can get about your plan; When and how you can receive retirement benefits; What to do if you have a question or find a mistake; The responsibilities of those who manage the plan and investments; Your responsibilities to understand and monitor your plan; and Specific circumstances such as how a divorce or change of employer ownership may effect your retirement benefit. NOTE: The information presented is a simplified summary of participant rights and responsibilities for you to use as a reference, not a legal interpretation of ERISA. Employer retirement fund managers and administrators, human resources or benefits counselors, financial planners,accountants, CPAs, small business owners, employees of companies and organizations that offer retirement investment plans, and public employees may be interested in this guidance. Check out ourRetirement resources collection