Pensions in the American Economy
University of Chicago Press, Apr 15, 2008 - Business & Economics - 486 pages
For anyone with an interest in pensions—workers and employers, personnel directors, accountants, actuaries, lawyers, insurance agents, financial analysts, government officials, and social scientists—this book is required reading. Now, without the aid of a pension specialist, anyone can determine how their particular pension plan stacks up against the average. Using virtually all available government sources (including computerized data unavailable in print) and their own extensive surveys, the authors present a comprehensive description of the structural features and financial conditions of U.S. private, state, city, and municipal pension plans. The introductions to the hundreds of tables explain and highlight the information.
The picture that emerges of the "typical" plan and its significant variations is crucial to all those with a financial stake in pensions. The reader can compare pension vesting, retirement, and benefit provisions by plan type, plan size, industry, union status, and many more characteristics. With this information, workers can evaluate just how generous their employer is; job applicants can compare fringe benefits of prospective employers; personnel directors can judge their competitive edge.
The financial community will find especially interesting the analysis of the unfunded liabilities of private, state, and local pension funds. The investment decisions of private and public pension funds and their return performances are described as well.
Government officials and social scientists will find the analysis of pension coverage, the receipt of pension income by the elderly, cost-of-living adjustments, and disability insurance of special importance in evaluating the proper degree of public intervention in the area of old age income support.
Pensions in the American Economy is comprehensive and easy to use. Every reader, from small-business owners and civil servants to pension fund specialists, will find in it essential information about this increasingly important part of labor compensation and retirement finances.
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4 The Structure of Private Pension Plans
5 Financial Aspects of Private Pension Plans
6 The Structure of State and Local Pension Plans
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95th Percent A. G. Becker Amount Rate Amount Row Percent Average Real Benef i t benefit formulae billion BOC-CPS Classified Number Row covered workers defined benefit plans defined contribution plans Early Retirement earnings base employees Fema1es fraction Frank Arnold Industry Insurance ipants Locally Administered Ma 1 es Male Female Mean Mean Mean Percentage NA NA NA NBER-DOL EBS1 File Nonunion Number of Participants Number of Plans Number of Row Number of Total Number Percent Age Number Percent Number Number Row Percent pension benefits pension coverage pension income pension liabilities pension recipients Percent Number Percent Plan Entity plan participants Plan Type portfolios Private Pension Funds private pension plans projected liabilities Provisions Rep 1acement Replacement Rates reported Row Number Percent service requirement social security Source SRI International state-administered Table Tota Total Number Type of Administrator Union Nonun Union Status vested accrued liabilities Vesting Status Wage and Salary
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Page viii - Relation of the Directors to the Work and Publications of the National Bureau of Economic Research 1 . The object of the...
Page viii - The object of the National Bureau of Economic Research is to ascertain and to present to the public important economic facts and their interpretation in a scientific and impartial manner. The Board of Directors is charged with the responsibility of ensuring that the work of the National Bureau is carried on in strict conformity with this object. 2. The President of the National Bureau shall submit to the Board of Directors, or to its Executive Committee, for their formal adoption all specific proposals...