| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w2917
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| 来源ID | Working Paper 2917
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| Pensions as Retirement Income Insurance |
| Zvi Bodie
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| 发表日期 | 1989-04-01
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| 出版年 | 1989
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| 语种 | 英语
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| 摘要 | This paper develops the view that employer-sponsored pension plans are best understood as retirement income insurance for employees and from that perspective addresses a number of questions regarding the reasons for their existence, their design, and their funding and investment policies. The most important of these questions are: - Why do employers provide pension plans for their employees and why is participation usually mandatory? - Why is the defined benefit form of pension plan the dominant one rather than defined contribution? - Why are the payout options under most plans limited to life annuities? - Why are most plans integrated with Social Security? - Why don't corporate pension plans follow the extreme funding and asset allocation policies that seem to be optimal from the perspective of shareholder wealth maximization? - Why do employers often make ad hoc increases in pension benefits not strictly required under the formula in defined benefit plans? - Why don't private pensions offer inflation insurance? |
| 主题 | Financial Economics
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| URL | https://www.nber.org/papers/w2917
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/560187
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推荐引用方式
GB/T 7714 |
Zvi Bodie. Pensions as Retirement Income Insurance. 1989.
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文件名：
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w2917.pdf
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格式：
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Adobe PDF
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