Savings Archives - Page 15 of 31 - Pension Policy International

30AugAugust 30, 2019

The Disruptive Impact of FinTech on Retirement Systems

By Julie Agnew, Olivia S. Mitchell Many people need help planning for retirement, saving, investing, and decumulating their assets, yet financial advice is often complex, potentially conflicted, and expensive. The advent of computerized financial advice offers huge promise to make accessible a more coherent approach to financial management, one that takes into account not only clients' financial assets but also human capital, home values, and retirement pensions. Robo-advisors, or automated on-line services that use computer algorithms to provide...

August 30, 2019

Books, Pension design, Pension Management, Savings, System Sustainability2019, Fintech, Technology

30AugAugust 30, 2019

The Impact of Governmental Accounting Standards on Public-Sector Pension Funding

By Divya Anantharaman, Elizabeth Chuk The funding policy for defined benefit pension plans covering government employees represents an important decision for government entities sponsoring those plans. In recent years, a number of state and local governments have experienced extreme funding shortfalls (e.g., New Jersey, Illinois, and Detroit), raising concerns about whether government entities are contributing enough to their pensions. Governmental Accounting Standards Board Statements Number 67/68 (hereafter, “GASB 67/68”) fundamentally alter the financial reporting of pension liabilities, by (i)...

August 30, 2019

Articles, Pension design, Savings, System Sustainability2019, Public Pensions, State Pensions, US

23AugAugust 23, 2019

Wealth: The Ultra-High Net Worth Guide to Growing and Protecting Assets

By Richard P. Rojeck With few exceptions, books on personal finance focus on investing. And with few exceptions, these same books focus on the general public. This book takes a comprehensive approach to the subject, directed to the ultra-high net worth reader, filling this void. While there is no shortage of experts in legal, tax, investment, and other matters, in many ways, ultra-high net worth individuals are underserved, even as they are confronted with potentially increasing challenges...

August 23, 2019

Books, Investing, Savings2019, Pension Management

16AugAugust 16, 2019

Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty

By Ford Foundation International Professor of Economics and Director Poverty Action Lab Abhijit Banerjee, Esther Duflo Two practical visionaries upend the most common assumptions about how economics works in this gripping and disruptive portrait of how poor people actually live. Why do the poor borrow to save? Why do they miss out on free life-saving immunizations, but pay for unnecessary drugs? In Poor Economics, Abhijit V. Banerjee and Esther Duflo, two award-winning MIT professors, answer these questions based...

August 16, 2019

Books, Investing, Savings, System SustainabilityIncome, Political economy, Poverty

09AugAugust 9, 2019

Gender Gap in Savings Goal Choice: Evidence from Mixed Methods

Ariane Hillig, Jerome Monne, Janette Rutterford, Dimitris Sotiropoulos There has been a good deal of research on gender psychological differences in the context of financial decision making, but no research on the impact of gender difference in the setting of savings goals. To address this question we use two unique datasets, one quantitative and one qualitative. Our quantitative results show that men set more challenging savings goals than women, even when we control for wealth, income, and portfolio risk...

August 9, 2019

Articles, Labor Market, Pension design, Savings2019, Financial Inclusion, Gender Gap

03AugAugust 3, 2019

Behavioral Finance: What Everyone Needs to Know

By H. Kent Baker, Greg Filbeck, John R. Nofsinger People tend to be penny wise and pound foolish and cry over spilt milk, even though we are taught to do neither. Focusing on the present at the expense of the future and basing decisions on lost value are two mistakes common to decision-making that are particularly costly in the world of finance. Behavioral Finance: What Everyone Needs to KnowR provides an overview of common shortcuts and mistakes people make...

August 3, 2019

Books, Savings2019, Behavioral Science, Public Policy

03AugAugust 3, 2019

Falling Short: The Coming Retirement Crisis and What to Do About It

By Charles D. Ellis, Alicia H. Munnell, Andrew D. Eschtruth The United States faces a serious retirement challenge. Many of today's workers will lack the resources to retire at traditional ages and maintain their standard of living in retirement. Solving the problem is a major challenge in today's environment in which risk and responsibility have shifted from government and employers to individuals. For this reason, Charles D. Ellis, Alicia H. Munnell, and Andrew D. Eschtruth have written this concise guide for...

August 3, 2019

Adequacy, Books, Savings, System Sustainability2014, Income, Management, Poverty, Regulation

03AugAugust 3, 2019

The False Promise of Portman-Cardin Pension Reform

By Michael Doran This article analyzes the pension-reform bill introduced in 2019 by Senator Portman and Senator Cardin. Earlier Portman-Cardin bills, enacted in 1996, 2001, and 2006, substantially increased the amounts that higher-income families can save in tax-qualified retirement plans and IRAs, but they included only modest and mostly ineffective measures to encourage retirement savings by lower- and middle-income families. Despite the tens of billions of dollars in tax subsidies spent under the earlier Portman-Cardin legislation, retirement-account values today...

August 3, 2019

Articles, Regulation, SavingsIncome, Political Economics, Public Policy, US

03AugAugust 3, 2019

Multiemployer plans: evaluating a proposal to spread the pain

By Alicia Munnell, Jean- Pierre Aubry, Wenliang, Hou, Anthony Webb The Multiemployer Pension Reform Act (MPRA) allows multiemployer plans facing insolvency to apply for approval from the Treasury to cut accrued benefits of plan members to prolong plan solvency—a departure from the benefit protections of Employee Retirement Income Security Act. To assess the law's impact, this paper models Central States Teamsters – by far the largest – plan to have applied under the new law to reduce benefits. Using...

August 3, 2019

Articles, Labor Market, Pension design, Savings2019, Public Policy, Regulation, US

19JulJuly 19, 2019

Longevity: a new asset class

By David Blake A little over a decade ago, a new asset classemerged, one linked to longe vity risk, i.e., unanticipatedchanges in life expectancy. The Life Market has two seg-ments: a macro-segment with assets linked to groups of lives,such as members of a pension plan or a book of annuitants;and a micro-segment with assets linked to individual lives,such as life settlements. For the market to become global,certain market requirements need to be satisfied, such asunderstanding the causal factors underlying...

July 19, 2019

Articles, Investing, Pension design, Savings2018, Risk

August 2019

The Disruptive Impact of FinTech on Retirement Systems

The Impact of Governmental Accounting Standards on Public-Sector Pension Funding

Wealth: The Ultra-High Net Worth Guide to Growing and Protecting Assets

Poor Economics: A Radical Rethinking of the Way to Fight Global Poverty

Gender Gap in Savings Goal Choice: Evidence from Mixed Methods

Behavioral Finance: What Everyone Needs to Know

Falling Short: The Coming Retirement Crisis and What to Do About It

The False Promise of Portman-Cardin Pension Reform

Multiemployer plans: evaluating a proposal to spread the pain

July 2019

Longevity: a new asset class