Portfolio Decisions of Older American Workers: The Role of Private Pensions

2005 ◽  
Author(s):  
Huan Ni
Keyword(s):  
Private Pensions ◽  
Portfolio Decisions

Protecting underfunded pensions: the role of guarantee funds

2003 ◽  
Vol 2 (3) ◽  
pp. 247-272 ◽  
Author(s):  
RUSSELL W. COOPER ◽  
THOMAS W. ROSS
Keyword(s):  
Pension Plans ◽  
Pension Benefit ◽  
Defined Benefit ◽  
Strategic Uncertainty ◽  
Public Fund ◽  
Private Pensions ◽  
Coordination Problem ◽  
Public And Private ◽  
Ex Post

Employer-related pensions are a common and extremely important component of the compensation paid to workers in both the public and private sectors of developed economies. Many private pensions are insufficiently funded, exposing workers to the risk of a loss should their employer cease operations and not be available to meet pension obligations.In this paper we study the role of guarantee funds as providers of insurance to workers against the failure of firms with underfunded defined benefit pension plans. Employing a model that predicts pension underfunding, we consider first how private guarantee funds might operate and then explore some potential advantages of public funds.Overall, we do find that both public and private funds provide insurance benefits. However, private guarantee funds requiring ex ante premia payments may be infeasible in the presence of capital market imperfections, and funds which rely upon ex post contributions may suffer from strategic uncertainty. A public fund can overcome this coordination problem. However, a public fund, such as that administered by the US Pension Benefit Guaranty Corporation, may lead to: (i) greater underfunding of pensions, (ii) distortions in the market participation decisions of firms and (iii) the inclusion of excessively risky assets in the pension portfolio. In some cases, a guarantee fund is not welfare improving.

scholarly journals “Otherwise it would be nothing but cruises”: exploring the subjective benefits of working beyond 65

2012 ◽  
Vol 7 (1) ◽  
pp. 79-106 ◽  
Author(s):  
Frances Reynolds ◽  
Alexandra Farrow ◽  
Alison Blank
Keyword(s):  
Personal Development ◽  
Later Life ◽  
Personal Control ◽  
Full Time ◽  
Private Pensions ◽  
Self Employment ◽  
The United Kingdom ◽  
Lifestyle Choices ◽  
Part Time

The age at which statutory and private pensions are being paid is increasing in many countries and hence more people will need to work into their late 60s and beyond. At present, relatively little is known about the meanings of work for people who actively choose to work into their later life. This qualitative study examined the subjective benefits of continuing in a paid job or self-employment beyond the age of 65 in the United Kingdom. Thirty-one participants were interviewed, aged 65-91 years (median age 71), with 11 females and 20 males. Fourteen were working full-time and seventeen part-time. Interview transcripts were subject to thematic analysis. Although financial reward was acknowledged (more so by the female participants and the males who had young second families), there was more elaboration of the role of work in maintaining health and enabling continuing personal development. Work was framed as increasing personal control over later life, lifestyle choices and active participation in wider society, an antithesis to ’’cruising’’.

Role of dactinomycin in the improved survival of children with Wilms' tumor

JAMA ◽  
1966 ◽  
Vol 195 (12) ◽  
pp. 1005-1009 ◽  
Author(s):  
D. J. Fernbach
Keyword(s):  
Wilms Tumor

Role of the allergist in diagnosis and management of patients with uveitis

JAMA ◽  
1966 ◽  
Vol 195 (3) ◽  
pp. 167-172 ◽  
Author(s):  
T. E. Van Metre
Keyword(s):  
Diagnosis And Management
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