Pensions and procrastination : how can employers help their employees save for the future?

In this paper I show that employees tend to procrastinate when they are expected to decide whether or not they would like to save using the defined contribution pension scheme offered by their employer. By auto-enrolling the employees or asking them to decide before a given deadline, employers can mitigate some of the problems caused by employee procrastination. However both of these mechanisms present their own problems, caused by default stickiness and other issues, so I discuss how employers can decide which is the right mechanism to use depending on the characteristics of their employees, and how to minimize the problems these mechanisms can cause.

Transitional effects of a pension system change in Spain

This paper studies the output effects, transition costs and the change in pension benefits derived from the substitution of the current unfunded pension system by a fully funded pension system financed through mandatory savings.These effects are estimated by using reduced versions of the neoclassical and endogenous growth frameworks. Because of the greater capital accumulation during the transition phase, final output increases by 23,6% (neoclassicalframework); and a 24,5-31,5% (endogenous growth framework). The initial revenue loss for the government would represent a 4,8% of the GDP, raising very slowly during the transition period. Given the new growth rates, rates of return ofphysical capital, and financial intermediation costs, we have that the capitalization pension benefits obtained by all 30-contribution-year worker would be more than twice than those that guarantee the financial sustainability of thepublic pension system

Transitional effects of a pension system change in Spain

This paper studies the output effects, transition costs and the change in pension benefits derived from the substitution of the current unfunded pension system by a fully funded pension system financed through mandatory savings.These effects are estimated by using reduced versions of the neoclassical and endogenous growth frameworks. Because of the greater capital accumulation during the transition phase, final output increases by 23,6% (neoclassicalframework); and a 24,5-31,5% (endogenous growth framework). The initial revenue loss for the government would represent a 4,8% of the GDP, raising very slowly during the transition period. Given the new growth rates, rates of return ofphysical capital, and financial intermediation costs, we have that the capitalization pension benefits obtained by all 30-contribution-year worker would be more than twice than those that guarantee the financial sustainability of thepublic pension system

Prediction of the economic cost of individual long-term care in the Spanish population

Pensions together with savings and investments during active life are key elements of retirement planning. Motivation for personal choices about the standard of living, bequest and the replacement ratio of pension with respect to last salary income must be considered. This research contributes to the financial planning by helping to quantify long-term care economic needs. We estimate life expectancy from retirement age onwards. The economic cost of care per unit of service is linked to the expected time of needed care and the intensity of required services. The expected individual cost of long-term care from an onset of dependence is estimated separately for men and women. Assumptions on the mortality of the dependent people compared to the general population are introduced. Parameters defining eligibility for various forms of coverage by the universal public social care of the welfare system are addressed. The impact of the intensity of social services on individual predictions is assessed, and a partial coverage by standard private insurance products is also explored. Data were collected by the Spanish Institute of Statistics in two surveys conducted on the general Spanish population in 1999 and in 2008. Official mortality records and life table trends were used to create realistic scenarios for longevity. We find empirical evidence that the public long-term care system in Spain effectively mitigates the risk of incurring huge lifetime costs. We also find that the most vulnerable categories are citizens with moderate disabilities that do not qualify to obtain public social care support. In the Spanish case, the trends between 1999 and 2008 need to be further explored.

Pensions and other employee welfare plans; a survey of funds held by state and national banks in New York State.

Mimeographed.

Pensions accounting and value relevance

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

What is the best accounting policy for gains and losses in pensions?

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Early retirement provisions of pension plans, 1971 /

Cover title.

The operation of the welfare and pension plans disclosure act, January 1, 1959-June 30, 1960.

Reproduced from typewritten copy.

Reporting under the Welfare and Pension Plans Disclosure Act, Public Law 85-836 : effective Jan. 1, 1959, 72 Stat. 997.

"Guide in using plan description and annual report forms prepared by the Secretary of Labor."

America's pensions : the next savings and loan crisis? : hearing before the Special Committee on Aging, United States Senate, One Hundred Eighth Congress, first session, Washington, DC, October 14, 2003.

"Serial no. 108-24."

Collective bargaining provisions : employee-benefit plans /

"September 1949."

Study and analysis of portability and reciprocity in single employer pension plans : final report /

"Prepared under contract J-9-P-8-0191, Pension and Welfare Benefit Programs."

Study and analysis of portability and reciprocity : report on Task A : extent and characteristics of pension plans having portability or reciprocity features /

"Pension and Welfare Benefit Programs. Prepared under Contract J-9-P-8- 0191."

Pensions for industrial and business employees. Preliminary report.

v.1. Company plans in the United States and Canada by Bryce M. Stewart. - v.2. Pensions and other old age benefits for trade union members in the United States and Canada by Murray Latimer. - v.3. Railroad pensions in the United States and Canada by Bryce M. Stewart and Murray W. Latimer.