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OverviewThis 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. Full Product DetailsAuthor: Olivia S. Mitchell (Executive Director of the Pension Research Council, Wharton School, University of Pennsylvania) , Kent Smetters (, Assistant Professor in the Insurance and Risk Management Department, Wharton School, University of Pennsylvania)Publisher: Oxford University Press Imprint: Oxford University Press Dimensions: Width: 16.50cm , Height: 2.50cm , Length: 24.40cm Weight: 0.676kg ISBN: 9780199266913ISBN 10: 0199266913 Pages: 362 Publication Date: 13 November 2003 Audience: Professional and scholarly , Professional & Vocational Format: Hardback Publisher's Status: Active Availability: To order  Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us. Table of Contents1: Olivia S. Mitchell and Kent Smetters: Overview: Developments in Risk Management for Retirement Security Plan Sponsors and Retirement Income Risk 2: Zvi Bodie: An Analysis of Investment Advice to Retirement Plan Participants 3: Olivia S. Mitchell and Stephen P. Utkus: The Role of Company Stock in Defined Contribution Plans 4: Krishna Ramaswamy: Company Stock and Pension Plan Diversification 5: Suzanne Doyle and John Piggott: Integrating Payouts: Annuity Design and Public Pension Benefits in Mandatory Defined Contribution Plans 6: Jeremy Gold: Risk Transfer in Public Pension Plans 7: Robert Placios: Securing Public Pension Promises through Funding Global Developments in Retirement Risk Transfer 8: Marie-Eve Lachance and Olivia S. Mitchell: Understanding Individual Account Guarantees 9: Raimond Maurer and Christian Schlag: Money-Back Guarantees in Individual Account Pensions: Evidence from the German Pension Reform 10: Kenneth Vetzal, Peter Forsyth, and Heath Windcliff: Hedging Segregated Fund Guarantees 11: Jan Walliser: Retirement Guarantees in Mandatory Defined Contribution Systems 12: John Turner and David Rajnes: Retirement Guarantees in Voluntary Defined Contribution Plans 13: David Cummins and Christopher Lewis: Securitized Risk Instruments as Alternative Pension Fund Investments 14: Arthur Fliegelman, Moshe Milevsky, and Scott Robinson: Credit Implications of the Payout Annuity MarketReviewsAuthor InformationOlivia S. Mitchell is Executive Director of the Pension Research Council, Wharton School, University of Pennsylvania , and also a research Associate at the National Bureau of Economic Research. Her academic research explores private and public insurance, risk management, public finance and labour markets, and compensation and pensions, with a US and an international focus. Previously she taught at Cornell University, visited Harvard University and the University of New South Wales, served on the Us Department of Labor's ERISA Advisory Council, and served as a Board Member for Alexander and Alexander services, Inc. She recently served on President Bush's Commission to Strengthen Social Security. She received her PhD in Economics from the University of Wisconsin-Madison. Kent Smetters is an Assistant Professor in the Insurance and Risk Management Department at the Wharton School at the University of Pennsylvania. Previously he worked at the Congressional Budget Office, visited the Stanford Economics Department, and served as Deputy Assistant Secretary for Economic Policy of the US Treasury. His research interests include intergenerational risk sharing within households. He received his PhD in Economics from Harvard University. Tab Content 6Author Website:Countries AvailableAll regions |
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