Understanding Corporate Pension Plans
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Understanding Corporate Pension Plans
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Author : Research Foundation of CFA Institute
language : en
Publisher:
Release Date : 1983-01-01
Understanding Corporate Pension Plans written by Research Foundation of CFA Institute and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983-01-01 with categories.
Understanding Corporate Pension Plans
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Author : Edmund A. Mennis
language : en
Publisher:
Release Date : 1983
Understanding Corporate Pension Plans written by Edmund A. Mennis and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1983 with Corporations categories.
Pricing Risk In Corporate Pension Plans
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Author : Roy P. M. M. Hoevenaars
language : en
Publisher:
Release Date : 2009
Pricing Risk In Corporate Pension Plans written by Roy P. M. M. Hoevenaars and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
New accounting rules and increased scarcity of risk capital have led to growing pressure on corporations to shift pension plan risk from employers to participants. This implies a shift from Defined Benefit (DB) plans to a variety of collective and individual Defined Contributions (DC) plans. Most of these shifts have been ad-hoc and not based on clear and objective criteria. This article shows how negotiations could be clarified by using modern option pricing and financing techniques. Both the value of the guarantees regarding accrued pension rights, as well as future rights to be accrued, can be objectively determined. For example, the authors show that a shift from a typical DB to a collective DC plan should cost the employer a lump sum payment of twelve percent of the accrued pension obligations and an increase in the contribution rate at four percent of pay.
Corporate And Private Pension Plans In The United States
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Author : Yildiz Saglik
language : en
Publisher: diplom.de
Release Date : 2009-12-21
Corporate And Private Pension Plans In The United States written by Yildiz Saglik and has been published by diplom.de this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-12-21 with Business & Economics categories.
Inhaltsangabe:Introduction: This thesis gives in chapter A an understanding of the relevance of corporate and private pension plans for the U.S. work force. Chapter B examines the regulatory environment of qualified pension plans, the tax treatment of transactions on the employer and employee side and the multitudinous pension plan qualification standards. The main part of this thesis, chapter C, navigates the reader through basic plan types in the private sector including employer-sponsored plans and individual retirement arrangements. Chapter D deals critically with the opportunities and risks as a result of the structural shift in the retirement plan landscape from defined benefit to defined contribution plans in general, and to 401(k) plans in particular. Further, it gives a forecast on pension shortfalls for future retirees according to recent studies of governmental and private institutions and captures the impact of the current financial crisis on plan funds and the reactions of plan participants thereon. Inhaltsverzeichnis:Table of Contents: List of TablesVII List of AbbreviationsIX A)Introduction1 I.Brief History of Pension Plans in the United States1 II.Relevance of Pension Plans for the American Population3 1)Tax Advantages for Employers3 2)Income Security for Employees4 3)Supplemental of Social Security System5 4)Prevalence of Corporate Pension Plans8 (a)Sponsoring and Participation Level by Work Group8 (b)Sponsoring and Participation Level by Plan Type9 (c)Pension and Annuity Income Levels10 5)Relevance of Individual Retirement Arrangements11 6)Influence on Financial Markets12 7)Further Areas of Pension Coverage14 (a)Self-employed Individuals14 (b)Unions as Co-founder of Pension Plan Trusts15 iMultiemployer Plans15 iiMultiple Employer Plans15 iiiSingle Employer Plans16 (c)Governmental Employees16 B)Regulatory Environment of Retirement Plans18 I.Employee Retirement Income Security Act of 197418 II.Trusts19 1)Pension Trust Triangle19 2)Tax Exemption of Trusts20 3)Prudent Man Rule20 4)Funding20 5)Legal Force and Creditor Protection21 6)ERISA vs. State Law21 III.Systematic Segmentation22 IV.Tax Regulations for Qualified Retirement Plans23 1)An Overview of the Current Tax System23 2)Tax Treatment of Transactions24 (a)Contributions24 iEmployee Contributions24 iiEmployer Contributions25 (b)Distributions26 iAveraging Method for Lump Sum Distributions26 iiTax Deferrals on Net Unrealized Appreciation in [...]
Managing Corporate Pension Plans
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Author : Dennis E. Logue
language : en
Publisher: A E I Press
Release Date : 1984
Managing Corporate Pension Plans written by Dennis E. Logue and has been published by A E I Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1984 with Business & Economics categories.
Evaluation study of the financial management of enterprise level pension funds during the 1970s inflation in the USA - discusses investment returns from shares, real estate and commoditys; concludes that stable, balanced investments fared better than attempts to forecast financial market trends. References and tables.
The Investment Performance Of Corporate Pension Plans
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Author : Steven A. Berkowitz
language : en
Publisher: Praeger
Release Date : 1988-02-22
The Investment Performance Of Corporate Pension Plans written by Steven A. Berkowitz and has been published by Praeger this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988-02-22 with Business & Economics categories.
This study examines whether pension plans achieved satisfactory investment results when compared to conventional market indexes. It also covers the impact of factors such as risk, turnover and investment allocation policy on performance. . . . Pension plan managers and accountants who audit or advise them will be most interested in obtaining this book, as will academics doing research on pension plan performance. Journal of Accountancy The authors argue that the principle causes of the poor performance record of pension plan investments are frequent portfolio reallocations and high turnover. They show that these twin strategies act more to incur unnecessary costs than to enhance profits. They proceed to develop a new concept for pension fund diversification, one that will achieve the goals the present strategies have failed to achieve. Must reading for pension fund executives, corporate money managers, and bank trust officers, this book is also a significant addition to the finance and investing curriculum.
Reinventing The Retirement Paradigm
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Author : Robert L. Clark
language : en
Publisher: OUP Oxford
Release Date : 2005-08-11
Reinventing The Retirement Paradigm written by Robert L. Clark and has been published by OUP Oxford this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005-08-11 with Business & Economics categories.
This book explores how rising pension and healthcare costs, along with workforce aging, are affecting pension and retirement planning around the world. Many middle-aged workers now realize that they will have to work longer than intended, as they begin to recognize that their retirement resources will be inadequate to finance retirement consumption. Volatile capital markets, rising medical-care costs, and low saving rates make retirement behavior and policy a moving target. Olivia Mitchell, executive director of The Pension Research Council at Wharton, and Robert L. Clark, Professor of Business Management and Economics at North Carolina State University, explore these themes with colleagues, touching on a diverse set of issues ranging from employment trends to pension accounting and investment, to retirement system overhaul. They illustrate how employers are actively reformulating the meaning of work and retirement, seeking to encourage more people to work longer than ever before in the face of projected labor shortages. At the same time, public and private trust in traditional pension offerings is rapidly eroding, as companies alter, amend, and terminate their conventional plans in the face of poor investment performance and new methods of pension accounting. Experts from the UK, the US, Japan, Sweden, and Canada offer international perspectives on the evolving institutions of retirement practice. This book provides readers a range of insights and strategies not available in other volumes, and it represents an invaluable addition to the PRC/OUP series. It will be particularly valuable for managers working toward more efficient pension plans; to scholars and policymakers seeking to maximize pension design and effectiveness; and to actuaries and tax specialists concerned with pension regulation. The Pension Research Council at the Wharton School of the University of Pennsylvania was founded 50 years ago to encourage research and teaching on pensions and retirement security. Council projects address the long-term issues that underlie contemporary concerns and seek to broaden public understanding of these complex arrangements through research into their social, economic, legal, actuarial, and financial foundations of privately and publicly-provided benefits.
Risk Shifting Versus Risk Management
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Author : Joshua D. Rauh
language : en
Publisher:
Release Date : 2010
Risk Shifting Versus Risk Management written by Joshua D. Rauh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010 with categories.
The asset allocation of defined benefit pension plans is a setting where both risk shifting and risk management incentives are likely be present. Empirically, firms with poorly funded pension plans and weak credit ratings allocate a greater share of pension fund assets to safer securities such as government debt and cash, whereas firms with well-funded pension plans and strong credit ratings invest more heavily in equity. These relations hold both in the cross-section and within firms and plans over time. The incentive to limit costly financial distress plays a considerably larger role than risk shifting in explaining variation in pension fund investment policy among U.S. firms.
Pension Funds And The Bottom Line
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Author : Keith P. Ambachtsheer
language : en
Publisher: Irwin Professional Publishing
Release Date : 1986
Pension Funds And The Bottom Line written by Keith P. Ambachtsheer and has been published by Irwin Professional Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 1986 with Business & Economics categories.
Risk Shifting Versus Risk Management
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Author : Joshua Rauh
language : en
Publisher:
Release Date : 2007
Risk Shifting Versus Risk Management written by Joshua Rauh and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007 with Defined benefit pension plans categories.
The asset allocation of defined benefit pension plans is a setting where both risk shifting and risk management incentives are likely be present. Empirically, firms with poorly funded pension plans and weak credit ratings allocate a greater share of pension fund assets to safer securities such as government debt and cash, whereas firms with well-funded pension plans and strong credit ratings invest more heavily in equity. These relations hold both in the cross-section and within firms and plans over time. The incentive to limit costly financial distress plays a considerably larger role than risk shifting in explaining variation in pension fund investment policy among U.S. firms.