Reinventing The Retirement Paradigm

Hardcover | July 28, 2005

EditorRobert L. Clark, Olivia S. Mitchell

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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 retirementresources 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 pensionaccounting 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 privatetrust 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 onthe 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 maximizepension 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. Councilprojects 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.

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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 retirementresources will be inadequate to finance retiremen...

Robert L. Clark is a Professor of Business Management and Economics at North Carolina State University. His research examines retirement decisions, the choice between defined benefit and defined contribution plans, the role of information and communications on 401(k) contributions, and international retirement systems. Dr. Clark serve...

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Format:HardcoverDimensions:312 pages, 9.21 × 6.14 × 0.94 inPublished:July 28, 2005Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0199284601

ISBN - 13:9780199284603

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Table of Contents

Part I: The State of Play1. Robert L. Clark and Olivia S. Mitchell: The Changing Retirement Paradigm2. James Klein: Looking Backward, Looking Forward: Where is Pension Policy Headed?3. Pamela Perun and Eugene Steuerle: Reality Testing for Pension ReformPart II: Redefining Retirement4. Patrick Purcell: Older Workers: Employment and Retirement Trends5. Katharine Abraham and Susan Houseman: Work and Retirement Plans Among Older Americans6. David McCarthy: The Future of Pension Plan Design7. Janemarie Mulvey and Steven Nyce: Strategies to Retain Older Workers8. Robert Hutchens and Kerry Papps: Developments in Phased RetirementPart III: Managing the Retirement Promise9. William J. Arnone: Educating Pension Plan Participants10. Douglas Fore: Changes in Accounting Practices Will Drive Pension Paradigm Shifts11. Keith Ambachtsheer: Why Pension Fund Management Needs a Paradigm Shift12. Gary Anderson and Keith Brainard: Profitable Prudence: the Case For Public Employer Defined Benefit PlansPart IV: In Search off a New Pension Paradigm: The Global outlook13. Silvana Pozzebon: The Future of Pensions in Canada14. Annika Sunden: The Future of Retirement in Sweden15. Masaharu Usuki: Risk Management and Pension Plan Choice in Japan