Search Results
Journal Article
Is the U.S. pension-insurance system going broke?
An examination of the weakened financial condition of the Pension Benefit Guaranty Corporation and a discussion of its potential liabilities, with an emphasis on the major threat posed by unfunded pension plans.
Journal Article
On asset-liability matching and federal deposit and pension insurance
Asset-liability mismatch was a principal cause of the Savings and Loan Crisis of the 1980s. The federal government's failure to recognize the mismatch risk early on and manage it properly led to huge losses by the Federal Savings and Loan Insurance Corporation, which had to be covered by taxpayers. In dealing with the problems now facing the defined-benefit pension system and the Pension Benefit Guaranty Corporation (PBGC), the government seems to be making some of the same mistakes it made then. Among the causes is the fallacious belief that because pension funds have a long time horizon the ...
Journal Article
Is the pension system a liability?
Journal Article
Concern growing about troubled corporate pension fund insurer
Conference Paper
Testimony on the Pension Benefit Guaranty Corporation
Journal Article
Pensions in peril
Conference Paper
The PBGC: a costly lesson in the economics of federal insurance
Conference Paper
The value of Pension Benefit Guaranty Corporation insurance