The 80 Percent Pension Funding Target, High Assumed Returns, and Generational Inequity
نویسندگان
چکیده
منابع مشابه
Pension Funding with lifecontingencies
This report focuses on several funding and actuarial costing methods in occupational pension funds where the benefits are defined. As well-known, a defined benefit (DB) pension plan is a type of pension plan in which an employer/sponsor promises a specified pension payment, lump-sum (or combination thereof) on retirement that is predetermined by a formula based on the employee’s history (earnin...
متن کاملPension Funding Constraints and Corporate Expenditures
and two anonymous referees. Errors remain the responsibility of the authors. We are grateful to Helen Cochrane funded by CMPO, Bristol for collecting some of the data used in this study. Abstract This paper examines the impact of a company's pension contributions on its dividend and investment policies. The effects of shocks to cash flows on these corporate expenditures are identified by change...
متن کاملGuaranteeing Benefits in Generational Pension Plans
In this paper we analyze the possibilities of intergenerational risk sharing in a generational DB pension fund. Each generation is subject to discretionary investment, indexation and contribution policies, thereby losing intergenerational diversification gains. Intergenerational risk sharing is repaired by introducing contingent claims on the generational surplus or deficit. We find that in som...
متن کاملPension Plan Funding and Corporate Debt Ratings
This article empirically examines the relationship between the funding of defined benefit pension plans and corporate debt ratings. The evidence indicates that unfunded pension liabilities reduce debt ratings more than an equivalent amount of excess pension assets increase debt ratings. This asymmetric relationship is consistent with the view that unfunded pension liabilities are corporate liab...
متن کاملFinancialization, Pension Restructuring, and the Logic of Funding
As early as 1976, management guru Peter Drucker declared the US to be the first real socialist eco nomy. Since the early 1950s when General Motors set up a corporate pension fund, the share of private pension savings in the total amount of accumulated capital has increased steadily, reaching almost one third in the year Drucker’s book was published. Drucker predicted that pension funds would po...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2016
ISSN: 1556-5068
DOI: 10.2139/ssrn.2761042