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Are Affluent Households As Worried About Retirement As Everyone Else?

Are affluent households worrying about having enough money to last through retirement? According to a survey from Bank of America, the short answer is “yes” – in fact, it’s one of their biggest concerns. Bank of America polled 1,000 “affluent” people with investable assets of between $50,000 and $250,000. The results were published in the ...
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The Role of Diversity in Investment Committee Effectiveness

  A recent Vanguard survey looked at the diversity of investment committees of pension funds and endowments – diversity in gender, race, education, age and professional background. The survey also gauged the opinions of committee members on a variety of topics: How much do they value diversity? Are they satisfied with the level of diversity on ...
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Do Older Americans Have Enough Money Saved To Last Through Retirement? An Analysis

Do older Americans have enough money saved to last through retirement? It’s a question asked often, but a definitive answer is hard to come by. An article published in the October issue of Pension Benefits takes aim at answering that question using a metric called the Retirement Readiness Rating (RRR), developed by the Employee Benefit Research Institute. The ...
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Fiduciary Capitalism, Long-Term Thinking and the Future of Finance

John Rogers, CFA, penned a thoughtful article in a recent issue of the Financial Analysts Journal regarding the future of finance – and how pension funds and other institutional investors could usher in a new era of capitalism. From the article, titled “A New Era of Fiduciary Capitalism? Let’s Hope So”: From my perspective, a new era of capitalism ...
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The Effect of Age On Portfolio Choices

Does a person’s willingness to hold risky assets diminish as they grow older and get closer to retirement? How does aging affect portfolio choices? A paper published in the October issue of the Journal of Pension Economics and Finance aims to tackle those questions. The authors analyzed administrative data from an Italian defined-contribution plan ...
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How Financially Sophisticated is America’s Older Population?

As people grow older, they start paying more attention to their retirement. But evidence suggests that much of the United States’ older population is ill equipped to take responsibility for their retirement security – because their financial sophistication falls short of where it needs to be to make the complex financial decisions retirement requires. A ...
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When Given A Choice, Why Do People Choose DC Plans Over DB Plans?

In many states, newly hired public employees are faced with a choice: enrollment in a traditional defined-benefit plan, or a 401(k)-style defined-contribution plan. What drives the decision-making of those who choose DC plans? Scott J. Weisbenner and Jeffrey R. Brown examined the topic in a recent paper in the Journal of Public Economics. They studied ...
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Do Pensions Help Bring Talent To The Public Sector?

An oft-cited argument in favor of generous public pensions is that it helps the public sector recruit and retain high-quality workers. But is that the case? That question is the subject of the latest report from the Center for Retirement Research at Boston College. The findings of the report, as summarized by the CRR: – Research shows that pensions ...
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Cutting Investment Fees – A Key To Secure Retirement?

Charles D. Ellis wrote a thoughtful article in the Financial Analysts Journal recently about the hard choices that people– and institutions – must face sooner than later regarding retirement and pension systems. One of the main facets of the article’s thesis: We need to make hard choices on how much to save, how long to work, how to invest, and ...
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How Does Implementation Cost Affect Private Equity Performance?

A recent paper in the Rotman International Journal of Pension Management analyzes the costs and performance of private equity investments of large public pension funds. There were a few interesting findings, but the authors admitted that the “most interesting” was how drastically implementation style affects performance. The paper finds that “higher-cost ...
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