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Keywords:Pensions 

Journal Article
Fuzzy math : public pensions are underfunded - how bad is it?

Related links: https://www.richmondfed.org/-/media/richmondfedorg/publications/research/econ_focus/2010/q3/cover_weblinks.cfm
Econ Focus , Volume 14 , Issue 3Q , Pages 14-17

Conference Paper
Statement of corporate pension fund accounts

Proceedings , Paper 991

Working Paper
Out of Sight No More? The Effect of Fee Disclosures on 401(k) Investment Allocations

We examine the effects of a 2012 regulatory reform that mandated fee and performance disclosures for the investment options in 401(k) plans. We show that participants became significantly more attentive to expense ratios and short-term performance after the reform. The disclosure effects are stronger among plans with large average contributions per participant and weaker for plans with many investment options. Additionally, these results are not driven by secular changes in investor behavior or sponsor-initiated changes to the investment menus. Our findings suggest that providing salient fee ...
Finance and Economics Discussion Series , Paper 2020-078

Journal Article
Estimating the funding gap of the Pension Benefit Guaranty Corporation

Quarterly Review , Volume 13 , Issue Aut , Pages 45-59

Working Paper
What is the impact of pensions on saving?

The enormous growth in both Social Security and private pension plans has stimulated much interest in the impact of these retirement programs on individual saving behavior and the level of national saving. The first issue is the extent to which employees covered by pension plans reduce their own direct saving in response to expected retirement benefits; the response of individuals to guaranteed retirement income will determine, to a large extent, their well-being in retirement. For a nation concerned about saving and capital formation, the second issue is the impact of collectivized ...
Working Papers , Paper 91-5

Speech
The role for self-regulation and voluntary compliance incentives in the design of pension systems

Address before the Organization for Economic Co-operation and Development, Conference on Pension Reform AB Presentation to the Russia: From Legislation to Implementation, Moscow, Sept. 25, 2003
Speech , Paper 28

Working Paper
The determinants of the flow of funds of managed portfolios: mutual funds versus pension funds

Due to differences in financial sophistication and agency relationships, we posit that investors use different criteria to select portfolio managers in the retail mutual fund and fiduciary pension fund industry segments. We provide evidence on investors' manager selection criteria by estimating the relation between manager asset flow and performance. We find that pension fund clients use quantitatively sophisticated measures like Jensen's alpha, tracking error, and outperformance of a market benchmark. Pension clients also punish poorly performing managers by withdrawing assets under ...
FRB Atlanta Working Paper , Paper 2000-21

Journal Article
Retirement savings and decision errors: lessons from behavioral economics

Long gone are the days when most American workers could rely on their employers to manage their retirement savings. Today, most people handle their retirement portfolios themselves, gaining the right and responsibility to determine their own best strategies. Research on retirement planning suggests, however, that many fall short of consensus targets for optimal savings and investment. While part of the shortfall is explained by information gaps and income constraints, research in behavioral economics suggests that "decision errors," arising out of human tendencies such as procrastination, ...
FRBSF Economic Letter

Journal Article
Regional Spotlight: Pension Gap Perils

Pennsylvania and New Jersey?s pension systems are severely straining their state budgets, and Delaware?s also carry shortfalls Are the significant shortfalls in tristate public pension funds actually far worse than official reports suggest?
Economic Insights , Volume 1 , Issue 2 , Pages 15-19

Journal Article
Pension Gap Perils

Pennsylvania and New Jersey?s pension systems are severely straining their state budgets, and Delaware?s also carry shortfalls Are the significant shortfalls in tristate public pension funds actually far worse than official reports suggest?
Regional Spotlight , Issue Q2 , Pages 15-19

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