scholarly journals Retirement Income Security and Well-Being in Canada

2009 ◽  
Author(s):  
Michael Baker ◽  
Jonathan Gruber ◽  
Kevin Milligan
Keyword(s):  
Well Being ◽  
Retirement Income ◽  
Income Security ◽  
Retirement Income Security

scholarly journals Navigating complex financial decisions at retirement: evidence from annuity choices in public sector pensions

2019 ◽  
Vol 18 (04) ◽  
pp. 594-611 ◽  
Author(s):  
Robert L. Clark ◽  
Robert G. Hammond ◽  
David Vanderweide
Keyword(s):  
Public Sector ◽  
Financial Literacy ◽  
Pension Plan ◽  
Well Being ◽  
Retirement Income ◽  
Income Security ◽  
Financial Decisions ◽  
Administrative Records ◽  
Different Types ◽  
Retirement Income Security

AbstractChoices regarding the disposition of wealth at retirement can have substantial implications for retirement income security. We analyze the factors determining annuity payout option choices within the context of a public sector defined pension plan with no default annuity option. Using combined administrative records and survey data, we explore the role of individual and household characteristics as well as risk preferences, time preferences, and financial literacy. We also document retiree well-being and satisfaction with retirement decision making. The evidence is consistent with predictions over which households might benefit most from each annuity option. Comparing retirees who chose different types of annuities, we find that these groups of retirees report very different levels of well-being in retirement. All retirees report lower levels of retirement income security over time, with strong differences among those who chose different types of annuities.

ERISA Preemption and Regulation of Managed Health Care: The Case for Managed Federalism

1997 ◽  
Vol 23 (2-3) ◽  
pp. 251-289
Author(s):  
Margaret G. Farrell
Keyword(s):  
Health Care ◽  
Retirement Income ◽  
Structural Reforms ◽  
Unborn Child ◽  
Income Security ◽  
Care Plans ◽  
Managed Health Care ◽  
Federal Statute ◽  
Managed Care Organizations ◽  
Retirement Income Security

The result ERISA compels us to reach means that the Corcorans [who lost their unborn child allegedly as a result of United Healthcare’s negligent determination that hospitalization was not medically necessary] have no remedy, state or federal, for what may have been a serious mistake. This is troubling....In the words of its sponsor, Senator Jacob Javits, the Employee Retirement Income Security Act (ERISA) was enacted in 1974 “to maintain the voluntary growth of private [pension and employee benefit] plans while at the same time making needed structural reforms in such areas as vesting, funding, termination, etc. so as to safeguard workers against loss of their earned or anticipated benefits....” Ironically, one of ERISA’s provisions—its indeterminate provision for the preemption of state law—has probably created more uncertainty about the adequacy and security of health care benefits than any other piece of legislation. Neither ERISA nor any other federal statute comprehensively regulates the content of employer provided health care plans, including benefits provided through managed care organizations (MCOs).

scholarly journals THE NEW WORLD OF RETIREMENT INCOME SECURITY

2017 ◽  
Vol 1 (suppl_1) ◽  
pp. 977-977
Author(s):  
J. Quinn ◽  
K. Cahill
Keyword(s):  
New World ◽  
Retirement Income ◽  
Income Security ◽  
Retirement Income Security

A Prescription for More Retirement Income Security

2006 ◽  
Vol 18 (2) ◽  
pp. 11-30 ◽  
Author(s):  
Christian E. Weller ◽  
Jeffrey B. Wenger ◽  
Elise Gould
Keyword(s):  
Retirement Income ◽  
Income Security ◽  
Retirement Income Security

Private Pensions

2014 ◽  
Author(s):  
Teresa Ghilarducci
Keyword(s):  
Economies Of Scale ◽  
Cost Effective ◽  
Security System ◽  
Retirement Income ◽  
Private Pensions ◽  
Income Security ◽  
Government Subsidies ◽  
Limited Access ◽  
Quality Investment ◽  
Retirement Income Security

The American retirement income security system fails in many ways: it does not cover every worker, provide adequate retirement income, operate efficiently, or distribute government subsidies effectively and fairly. Only about half of workers have a pension at work—one of the best and most practical ways to save for retirement. Many of those pensions are rather small. Workers who do save have limited access to the best quality investment managers, appropriate portfolio structures, low fees, economies of scale, and cost-effective annuities because of the growing use of 401(k) plans that favor the highest-income workers. Consequently, many American workers will face economic hardships when they retire.

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