This book is available in Oxford Scholarship Online
| Description | | - A timely and significant contribution to research on pensions, dealing with some of the most contentious and unresolved issues.
- Draws upon issues and examples from a wide range of geographical areas.
- Contributors include world-famous finance experts and risk management faculty, development economists, pension regulators, and pension consultants.
| This book, the first in a new series produced by the Pension Research Council of the Wharton School in collaboration with Oxford University Press, explores ways to enhance retirement security in a volatile financial environment.
Mitchell and Smetters begin by assessing the myriad retirement risks confronting employees, retirees, employers, and governments, and it shows how stakeholders
can work to reinvent pensions that perform well in a competitive global setting. Contributors then indicate how pension systems can be better designed to help protect against these risks.
Of special interest is a discussion of new financial products and structures to meet and manage challenges to old-age security. Examples considered include pension investment guarantees and hedges, adapting
catastrophe bonds to the pension context, and key regulatory structures and portfolio requirements designed to protect unwary or unwitting pension participants. The contributors draw important lessons for a wide range of countries, drawing from both developed and developing market experiences.
Contributors include world-famous finance experts and risk management faculty, development
economists, pension regulators, and pension consultants.
|
Readership: Academics, researchers, and graduate students of Management, Finance, and Economics, and policy makers, consultants and regulators working in the pensions industry.
| Contents |
1.
Overview: Developments in Risk Management for Retirement Security
,
Olivia S. Mitchell and Kent Smetters
Plan Sponsors and Retirement Income Risk
2.
An Analysis of Investment Advice to Retirement Plan Participants
,
Zvi Bodie
3.
The Role of Company Stock in Defined Contribution Plans
,
Olivia S. Mitchell and Stephen P. Utkus
4.
Company Stock and Pension Plan Diversification
,
Krishna Ramaswamy
5.
Integrating Payouts: Annuity Design and Public Pension Benefits in Mandatory Defined Contribution Plans
,
Suzanne Doyle and John Piggott
6.
Risk Transfer in Public Pension Plans
,
Jeremy Gold
7.
Securing Public Pension Promises through Funding
,
Robert Placios
Global Developments in Retirement Risk Transfer
8.
Understanding Individual Account Guarantees
,
Marie-Eve Lachance and Olivia S. Mitchell
9.
Money-Back Guarantees in Individual Account Pensions: Evidence from the German Pension Reform
,
Raimond Maurer and Christian Schlag
10.
Hedging Segregated Fund Guarantees
,
Kenneth Vetzal, Peter Forsyth, and Heath Windcliff
11.
Retirement Guarantees in Mandatory Defined Contribution Systems
,
Jan Walliser
12.
Retirement Guarantees in Voluntary Defined Contribution Plans
,
John Turner and David Rajnes
13.
Securitized Risk Instruments as Alternative Pension Fund Investments
,
David Cummins and Christopher Lewis
14.
Credit Implications of the Payout Annuity Market
,
Arthur Fliegelman, Moshe Milevsky, and Scott Robinson
|
| Authors, editors,
and contributors |
Edited by Olivia S. Mitchell, International Foundation of Employee Benefit Plans Professor, and Executive Director, Pension Research Council of the Wharton School and
Kent Smetters, Assistant Professor in the Insurance and Risk Management Department, Wharton School, both at the University of Pennsylvania
|
The specification in this catalogue, including without
limitation price, format, extent, number of illustrations,
and month of publication, was as accurate as
possible at the time the catalogue was compiled.
Occasionally, due to the nature of some contractual restrictions, we
are unable to ship a specific product to a particular territory.
Jacket images are provisional and liable to change before publication.
|
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