Public Policy Toward PensionsSylvester J. Schieber, John B. Shoven MIT Press, 1997 - 338 lappuses According to Schieber and Shoven, pension policy will emerge as one of the key economic issues of the next decade. This book provides a guide to the debate.Public and private pensions control almost a quarter of the United States' tangible wealth--equivalent to all of the country's residential real estate. They account for most current saving in the country, are a crucial component of household retirement resources, and have significant effects on labor market mobility and efficiency. Collectively, they hold a tremendous proportion of all common stock. The stock market has boomed during the past decade, as baby boomers have rapidly accumulated pension assets. Now economists are starting to wonder what will happen when the baby boomers retire. It is already clear that the Social Security system will require drastic changes to remain solvent. Will the stock market experience a similar meltdown as baby boomers withdraw their assets from pension plans? What policies might help to avoid such a crisis? According to Schieber and Shoven, pension policy will emerge as one of the key economic issues of the next decade. This book provides a guide to the debate. Topics include the impact of pensions on personal and national saving, the potential for a Pension Benefit Guarantee Corporation financial crisis, the dramatic growth in 401(k) plans, public sector plants, the prospects for adequate retirement income in the future, and recommended directions for pension policies. The book contains ten chapters, four written by Schieber and Shoven.ContributorsRobert Clark, Ping-Lung Hsin, Olivia Mitchell, James Poterba, Andrew Samwick, Jonathan Skinner, Steven Venti, Carolyn Weaver, David Wise, and Elisa Wolper. |
Saturs
Magnitude Distribution | 41 |
Retirement Saving and the Changing | 85 |
Current | 131 |
Evidence and Implications | 177 |
Abandoning the Nest Egg? 401k Plans and Inadequate | 197 |
The Consequences of Population Aging on Private Pension | 219 |
Managing PublicSector Pensions | 247 |
Baby Boomers Prospects | 267 |
Policy Directions for Pensions | 313 |
327 | |
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Public Policy Toward Pensions Sylvester J. Schieber,John B. Shoven Priekšskatījums nav pieejams - 1997 |
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accumulated actuarial analysis annual baby boom baby boomers Benefit Research Institute billion changes cohort effects companies contributors cost coverage rates DC plans decline defined-benefit pension defined-benefit plans defined-contribution plans dollars earnings Economic eligible Employee Benefit Research employer contributions employer-sponsored retirement equity ERISA estimates federal firms future growth households imply increase investment Ippolito Labor liabilities median ment Munnell national saving noncontributors payroll tax PBGC PBGC's pension assets pension benefits pension compensation pension contributions pension coverage pension fund pension income pension insurance pension system pension tax expenditures pension wealth percentile percentile percentile personal financial assets personal retirement assets personal retirement saving personal saving plan sponsors Poterba premiums preretirement private pension projected public pension plans reduced replacement rates retirement benefits retirement income retirement plans saving rates Schieber sion Social Security sum distributions Table termination tions Total personal financial unfunded Venti wage Washington Watson Wyatt Worldwide workforce