This book, the first in a new series produced by the Pension Research Council of the Wharton School in collaboration with Oxford University Press, explores ways to enhance retirement security in a volatile financial environment. Mitchell and Smetters begin by assessing the myriad retirement risks confronting employees, retirees, employers, and ...
This book posits that retirement security is the central policy concern of our time. A generation of 'Baby Boomers' is on the verge of retirement, yet pension systems confront crushing challenges, and governments often appear confused about which direction they should move in. Contributors to this volume clarify the discussion by addressing the ...
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 ...
Dramatic advances in life expectancy mean that today's retirees must plan on living into their 80s, their 90s, and even beyond. Longer life expectancies are the symbol of a prosperous society, but this progress also means that some retirees will need to plan conservatively and cut back substantially on their living standards or risk living so long ...
The United States social security system is the nation's largest social insurance program. As such, it has a far-reaching impact throughout the economy, influencing not only old-age economic security but also many behaviors, including corporate employment policy, retirement patterns, and personal saving. In the past, the system's universal ...
Some 13 million public-sector workers in the United States-including teachers, police and firefighters, state and municipal employees, judges, and legislators-and another six million federal and military employees participate in government pension plans. These pension systems are extraordinarily diverse in design, investment policy, and governance ...
Employers are increasingly turning to defined contribution plans, especially the popular 401(k) plan, in place of the older, employer-based pension model. This shift has implications for the nation's workforce. Such defined contribution pensions have clear advantages for employees, including greater flexibility and portability. But they also place ...
As the United States comes to terms with the pending insolvency of social security, workers are increasingly pinning their hopes for retirement adequacy on employer-sponsored plans. Positioning Pensions for the Twenty-First Century analyzes the role of pensions in retirement security, examining how these programs will evolve to meet the challenges ...
As the leading edge of the 'Baby Boom' generation attains age 60, members of this unusually large cohort born 1946-66 are poised to redefine retirement - just as they have restructured educational, housing, and labor markets in prior days. Looking ahead, their numbers and energy are sure to have a major impact on national pensions, healthcare, and ...
The workforce of the future promises to be very different from that of the past. A generation ago, there were few workers over the age of 65, but in the future we will see many more employees remain on the job longer than ever before. At the same time, as global markets grow more closely integrated, companies are having to reinvent the workplace, ...
As Baby Boomers make the transition into their 60s, they have focused policymakers and the media's attention onto how this generation will manage the retirement phase of its lifetime. This volume acknowledges that many, though not all, in this older cohort have accumulated substantial assets, so for them, the question is what will they do with ...
Only half of working Americans admit they have thought about saving for retirement, and many of those who do try to save don't know whether they are setting aside enough. How, then, can employees, their employers, and the public sector boost old-age financial security? The contributors to this volume-economists, financial advisers, and housing and ...
This book places retirement in an economic context, calculating the income opportunities facing older workers at alternate retirement ages, and estimating how responsive retirement ages are to changes in income opportunities.
As the Workforce Ages makes accessible key insights generated by social scientists about how the labor market and labor market policies function for older workers. "Presents a wealth of empirical evidence relevant to population and work force aging. . . . This volume usefully identifies a panorama of aging issues that will need and will receive ...
As the world's population ages, millions will rely on their pension plans as the mainstay of retirement income. This book asks whether supply will meet demand in the new economic order. Pension systems in Germany, Japan, Canada, and the U.S. are compared, along with those in many developing nations. This volume is intended for employees and ...
Drawing on the latest information available on health, wealth, and retirement in America, this work offers new perspectives on ways to support the expanding population of older citizens.'
Employees are increasingly asked to make sophisticated decisions about their pension and healthcare plans. Yet recent research shows that the decisions 'real' people make are often not those of the careful and well-informed economic agent conventionally portrayed in economic research. Rather, decision-makers tend to operate with flawed information ...
People covered by public pensions are often the subject of 'pension envy:' that is, their benefits might seem more generous and their contributions lower than those offered by the private sector. Yet this book points out that such judgments are often inaccurate, since civil servants hold jobs with few counterparts in private industry, such as ...
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