Reinventing the Retirement Paradigm (Pensions Research Council) - Hardcover

Hardcover

ISBN 10: 0199284601 ISBN 13: 9780199284603

Publisher: OUP Oxford, 2005

Synopsis

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.

About this title

About the Author

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 serves ont he Advisory Board of the Pension Research Council, and he is also a member of the American Economic Association, the Gerontological Society of America, and the National Academy of Social Insurance. Professor Clark earned the BA from Millsaps College and the PhD from Duke University.

Olivia S. Mitchell is Executive Director of the Pension Research Council, Wharton School, University of Pennsylvania ,and the Director of the Boettner Center on Pensions and Retirement Research at the Wharton School. Concurrently Dr. Mitchell is a Research Associate at the National Bureau of Economic Research and a CoInvestigator for the Health and Retirement Study at the University of Michigan. Dr. Mitchell's main areas fo research and teaching are private and public insurance, risk management, public finance and labor markets, and compensation and pensions, with an international focus. She received the BA in Economics from Harvard University and the MA and PhD degrees in Economics from the University of Wisconsin-Madison.

Edition details

• Publisher: OUP Oxford
• Publication date: 2005
• Language: English
• ISBN 10: 0199284601
• ISBN 13: 9780199284603
• Binding: Hardcover
• Number of pages: 308
• Editor: Clark Robert L., Mitchell Olivia S.