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Author: Mark Warshawsky Publisher: ISBN: Category : Languages : en Pages : 34
Book Description
The design solution for retirement income strategies from individual accounts is the next major challenge to the evolving retirement system in the United States. In response, the Department of Labor has put forward a proposal to require sponsors of defined contribution plans to provide their participants with an illustration of the retirement income that might be expected from the assets held in their individual accountsthrough the use of an immediate fixed life annuity at retirement. Using an empirical analysis based on historical simulations, I show how the Department of Labor illustration, as currently proposed and with various improvements I recommend, will operate under realistic market conditions. I find that the proposal is a good start, but it can be improved by?among other changes?making the income flows gender-distinct and reflecting an inflation-indexed life annuity (with a load) rather than a nominal fixed annuity.
Author: Mark Warshawsky Publisher: ISBN: Category : Languages : en Pages : 34
Book Description
The design solution for retirement income strategies from individual accounts is the next major challenge to the evolving retirement system in the United States. In response, the Department of Labor has put forward a proposal to require sponsors of defined contribution plans to provide their participants with an illustration of the retirement income that might be expected from the assets held in their individual accountsthrough the use of an immediate fixed life annuity at retirement. Using an empirical analysis based on historical simulations, I show how the Department of Labor illustration, as currently proposed and with various improvements I recommend, will operate under realistic market conditions. I find that the proposal is a good start, but it can be improved by?among other changes?making the income flows gender-distinct and reflecting an inflation-indexed life annuity (with a load) rather than a nominal fixed annuity.
Author: Stacy L. Schaus Publisher: John Wiley & Sons ISBN: 1119302544 Category : Business & Economics Languages : en Pages : 384
Book Description
Start-to-finish guidance toward building and implementing a robust DC plan Successful Defined Contribution Investment Design offers a comprehensive guidebook for fiduciaries tasked with structuring and implementing a 401(k) or other defined contribution (DC) pension plan. More than a collection of the usual piecemeal information, this book seeks to offer a complete, contemporary framework for plan design, together with tested methodologies and analytic techniques to help streamline plan monitoring, management and improve participant outcomes. Examples from plan sponsors provide on-the-ground insight while suggestions from DC consultants add expert perspective. Views from ERISA expert counsel provide additional understanding—along with input from academic thought leaders. Finally, investment evaluation and analysis is joined with participant savings and asset allocation data to look prospectively at potential outcomes, and case studies illustrate real-world implementation of objective-aligned asset allocation such as custom target-date strategies. Though the focus is primarily on U.S. plan design, author perspectives from countries including Australia, the United Kingdom and Canada provide relevant and helpful viewpoints for both new and experienced plan fiduciaries. For the vast majority of workers, DC plans have replaced traditional defined benefit pension plans as the primary source of employer-provided retirement income. This book provides comprehensive guidance to help you construct a plan to help workers to retire with confidence. Adopt a framework for DC evaluation and structure Learn new methodologies for investment choice evaluation Use the innovative PIMCO Retirement Income Cost Estimate—or PRICE—to help quantify the amount of money a worker needs to create and stay on track to building a real income stream in retirement Examine methodologies used at major companies in the U.S. and globally DC plans are the most rapidly growing retirement market in the world, yet sources of consolidated structural and analytical guidance are lacking. Successful Defined Contribution Investment Design fills the gap with a comprehensive handbook that covers the bases to help you develop an objective-aligned defined contribution plan.
Author: Don Ezra Publisher: John Wiley & Sons ISBN: 047039885X Category : Business & Economics Languages : en Pages : 260
Book Description
Praise For The Retirement Plan Solution "Short, clear, complete, and always interesting. Best book on DC plans and what we should do-now." —Charles D. Ellis, author, Winning the Loser's Game "At a time when the world is in turmoil, along with retirement expectations, the authors have hit a home run. After reading this book, I have a plan. Read it for your path to retirement security." —Dallas Salisbury, President and CEO, Employee Benefit Research Institute "The Retirement Plan Solution offers a refreshing and provocative perspective on how to assess retirement needs, save to meet these needs, and manage the retirement payout process. In this time of financial turmoil, employees, plan sponsors, and financial advisors will find this highly practical resource volume both useful and humorous." —Olivia S. Mitchell, Director, Pension Research Council, Wharton School "The Retirement Plan Solution is a map to the future of 401(k) retirement plans. But it is not just a theoretical view of what could be. Instead, the authors describe the needs and trends that are already here, and then describe the changes that are developing to meet those needs. It is about the tomorrow that is happening today." —Fred Reish, Managing Director, Reish Luftman Reicher & Cohen "The respected authors have created a readable, timely, and very helpful book on all aspects of retirement planning. The suggestions are practical, the information is concise, and the book is highly recommended for anyone that is interested in sound financial planning." —Moshe A. Milevsky, PhD, Finance Professor, York University, Toronto, Canada "This is a must-read for people working in the retirement industry, as well as those who simply care about how to improve their chance of reaching a financially secure retirement. In a clear and simple fashion, the authors deliver one of the best books to date on inefficiencies in the current DC plan and potential improvements." —Peng Chen, President, Ibbotson Associates
Author: Bruce E. Patterson Publisher: Nova Science Publishers ISBN: 9781622572724 Category : 401(k) plans Languages : en Pages : 0
Book Description
Over the past 25 years, defined contribution plans, including 401(k) plans, have become the most prevalent form of employer-sponsored retirement plan in the United States. The majority of assets held in these plans are invested in stocks and stock mutual funds, and the decline in the major stock market indices in 2008 greatly reduced the value of many families' retirement savings. The effect of stock market volatility on families' retirement savings is just one issue of concern to Congress with respect to defined contribution retirement plans. This book examines fee considerations and country comparisons relating to defined contribution plans for retirement with a focus on increasing access to employer-sponsored plans, raising participation and contribution rates, helping participants make better investment choices, requiring clearer disclosure of fees charged to plan participants, preserving retirement savings when workers face economic hardship or change jobs, and promoting life annuities as a source of retirement income.
Author: Barry Leonard Publisher: DIANE Publishing ISBN: 9781422319031 Category : Business & Economics Languages : en Pages : 44
Book Description
Your employer¿s retirement savings plan is an essential part of your future financial security. This report covers private retirement plans that are governed by Federal laws & guidelines in the Employee Retirement Income Security Act of 1974 (ERISA) & the Internal Revenue Code. Includes info. on: Different types of retirement plans; What info. you can get about your plan; When & how you can receive retirement benefits; What to do if you have a question or find a mistake; The responsibilities of those who manage the plan & its investments; Your responsibilities to understand & monitor your plan; & Specific circumstances such as how a divorce or change of employer ownership may affect your retirement benefit. Charts & tables.
Author: Stacy L. Schaus Publisher: ISBN: 9781119200017 Category : Defined contribution pension plans Languages : en Pages : 307
Book Description
The ultimate guidebook for navigating the new world of pensions and retirement plans. In the wake of the explosive growth of defined contribution (DC) plans invested with target date strategies, and the understanding of how important these strategies can be in effectively meeting retirement income goals, plan sponsors are seeking more optimal target date approaches. This timely book provides you with in-depth answers from the nation's most qualified and experienced experts to pressing questions about DC plan design.: Presents the views of individuals from all across the market; Includes a broa.
Author: John J. Topelski Publisher: DIANE Publishing ISBN: 1437980864 Category : Reference Languages : en Pages : 32
Book Description
Over the past 25 years, defined contribution (DC) plans including 401(k) plans have become the most prevalent form of employer-sponsored retirement plan (ESRP) in the U.S. The majority of assets held in these plans are invested in stocks and stock mutual funds. The decline in the major stock market indices in 2008 greatly reduced the value of many families' retirement savings. Contents of this report: New Challenges to a Secure Retirement Income; Access to ESRP; Participation in ESRP; Contributions to Retirement Savings Plans; Investment Choices and Investment Risk; Fees and Fee Disclosure; Leakage from Retirement Savings Plans; Converting Retirement Savings into Income. Charts and tables. This is a print on demand report.
Author: Mark Warshawsky
Author: Mark Warshawsky
Author: Stacy L. Schaus
Author: Don Ezra
Author: Olivia S. Mitchell
Author: Bruce E. Patterson
Author: Barry Leonard
Author: Stacy L. Schaus
Author: John J. McFadden
Author: David A. Littell
Author: John J. Topelski