ABSTRACT: This paper calculates the effect that introducing risk-sharing during either retirement or the working life would have on public sector pension liabilities.
Category: The Scholar
The latest academic pension studies, research, and journal articles.
The Politics of Public and Private Pension Generosity in Advanced Democracies
The quantitative strand of social policy research suffers from a triple deficit: analyses of aggregate expenditure dominate, most of the few studies of replacement rates focus on unemployment or sickness benefits while pensions are excluded, and the interdependence between public and private pension plans is often ignored.
Does freezing a defined benefit pension plan affect firm risk?
ABSTRACT: This paper examines the impact of a defined benefit (DB) pension plan freeze on the sponsoring firm’s risk and risk-taking activities.
Sun Capital Partners III, LP v. New England Teamsters & Trucking Industry Pension Fund
ABSTRACT: Private equity firms often make money by taking over troubled companies, improving their business operations, and selling them at a profit.
Public Pension Funds and Assumed Rates of Return
ABSTRACT: This research adds to an existing body of research that suggests that the adoption of investment return assumptions associated with public sector defined benefit (DB) pension plans may partly be explained by political opportunism.
The Political Economy of Unfunded Public Pension Liabilities
This paper applies a public choice approach to the problem of unfunded pension liabilities and adopts the methodology of Congleton and Shughart (1990) to model underfunding of state-level public pension plans using the median voter theorem, along with the theory of “capture” by special interest groups, and a combined model of the two.
The Role of Social Security, Defined Benefits, and Private Retirement Accounts in the Face of the Retirement Crisis
ABSTRACT: For years, EBRI research has documented and quantified the role of Social Security, defined benefit and private retirement accounts on retirement income adequacy for Baby Boomers and Gen Xers in the United States. This paper summarizes that research and presents new evidence on the importance of 401(k) plans for workers currently entering the workforce.
Plan Design After United States vs. Windsor: What Happens When Employers Ask and Employees Tell
ABSTRACT: On June 26, 2013 the Supreme Court issued its decision in United States v. Windsor, striking down Section 3 of the Defense of Marriage Act. Under the Windsor decision, the federal government can no longer treat same-sex marriages differently than opposite-sex marriages. This article discusses some of the issues employers will need to address in response to the Windsor decision regarding their defined benefit, defined contribution, health and other welfare plans.
An Analysis of the Treatment of Employee Pension and Wage Claims in Insolvency and Under Guarantee Schemes in OECD Countries: Comparative Law Lessons for Detroit and the United States
ABSTRACT: To put the plight of the Detroit city employees into an international and comparative context when it comes to considering how their pension and wage claims should be treated in bankruptcy, it is instructive to consider how similar employee pension and wage claims would be treated in corporate insolvencies in other countries.
Detroit’s Pitch for a Pension Pinch
Detroit’s bankruptcy case has shaken up the bond market. The writing is on the wall: Detroit will probably succeed in reducing its pension obligations. In hopes of restructuring its debt, Detroit filed a bankruptcy case under Chapter 9 of the Bankruptcy Code. Chapter 9 follows the familiar path of Chapter 11 in many ways, but Detroit will face several unique challenges as it attempts to apply some of the Bankruptcy Code’s hallmark provisions.
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