Fundamentals of private pensions
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Bibliographic Information
Fundamentals of private pensions
（Pension Research Council publications）
Oxford University Press, 2010
9th ed
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"Pension Research Council, the Wharton School of the University of Pennsylvania"
Includes index
Description and Table of Contents
Description
For more than five decades, Fundamentals of Private Pensions has been the most authoritative text and reference book on retirement plans in the United States. The ninth edition is completely updated and reflects recent developments in retirement plans including the passage of the US Pension Protection Act of 2006 (PPA), the widespread shift toward hybrid and defined contribution plans, and a burgeoning economics and finance research literature on retirement
and retirement plans. The volume is organized into eight main sections so the reader may use the volume as a text, a research tool, or a general reference.
Section I (Chapter 1) introduces the historical evolution of the pension movement and the underlying forces that shaped its progress. Section II (Chapters 2 and 3) explains how employer-provided pensions fit into the patchwork of the U.S. retirement income security system, especially Social Security. The section also includes a discussion of the economics of tax incentives and their effect on retirement plan offerings and the structure of the benefits provided. Section III (Chapters 4 through
9) lays out the economic role of retirement plans-their design, workforce incentives, plan finances, production of adequate retirement income, possibilities for phased retirement, and the risk of outliving pension assets. Section IV (Chapters 10 through 13) examines the various forms of defined
benefit and defined contribution plans, including hybrid plans, in terms of their structure, requirements, and operations. Section V (Chapters 14 through 20) lays out the regulatory environment in which plans operate; this extensive material has been especially updated to reflect PPA, and the reams of associated guidance and implementing regulations. Section VI (Chapters 21 through 25) explores the funding and accounting rules under which private defined benefit plans operate; this section also
reflects the new PPA rules. The penultimate section (Chapters 26 through 28) includes a complete revamping of chapters on risk management and investments applicable to retirement plans. The section describes modern portfolio theory and its broad implications for retirement investing, and in two
separate chapters, specific implications for defined benefit and defined contribution plans. The final section (Chapter 29) concludes the text with a discussion of the future of retirement plans in the United States and around the world-a particularly timely subject in light of the extreme financial volatility experienced in 2008 and the pending retirement of the baby boom generation.
Table of Contents
- SECTION I: INTRODUCTION
- 1. Underlying Forces
- SECTION II: BROAD PUBLIC POLICY ENVIRONMENT FOR RETIREMENT PLANS
- 2. Social Insurance
- 3. The Politics and Economics of Tax Preferences
- SECTION III: THE ROLE OF PENSION PLANS
- 4. Overall Objectives in Designing a Retirement Program
- 5. Human Resource Incentives in Employer-Sponsored Retirement Plans
- 6. Financing of Employer-Sponsored Retirement Plans
- 7. Total Retirement Income: Setting Goals and Meeting Them
- 8. Changing the End of Work: Phased Retirement
- 9. Dealing with Risks of Outliving Resources in Retirement
- SECTION IV: STRUCTURE OF RETIREMENT PLANS
- 10. The Design of DB Plans
- 11. The Design of DC Plans
- 12. The Design of Hybrid Plans
- 13. Individual Plans
- SECTION V: REGULATORY ENVIRONMENT FOR RETIREMENT PLANS
- 14. Historical Review of Pension Regulations
- 15. Basic Regulatory Environment and Plan Qualification Requirements
- 16. Coverage, Nondiscrimination, and Integration with Social Security
- 17. Tax Consequences: Distributions and Contributions
- 18. Form of Doing Business and Transactional Consideration
- 19. Fiduciary Responsibility with Participant Rights
- 20. Plan Termination and Participant Rights
- SECTION VI: ACTUARIAL REQUIREMENTS AND PRACTICES AND ACCOUNTING FOR PENSIONS
- 21. Actuarial Cost Factors
- 22. Funding Requirements for Single Employer DB Plans
- 23. Funding Requirements for Multiemployer Plans
- 24. Cost Illustrations and Scope of Employer Choice/Strategy
- 25. Financial Accounting and Disclosures for Retirement Plans
- SECTION VII: PENSION RISK MANAGEMENT AND INVESTMENTS
- 26. The Basics of Investments for Retirement Plans
- 27. Investing for Defined Benefit Plans
- 28. Investing and Defined Contribution Plans
- SECTION VIII: THE FUTURE OF PENSIONS
- 29. The Future of Pensions
by "Nielsen BookData"