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Journal articles on the topic 'Defines benefit pension plans'

Author: Grafiati

Published: 4 June 2021

Last updated: 28 July 2025

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1

CLARK, ROBERT L., and SYLVESTER J. SCHIEBER. "Adopting cash balance pension plans: implications and issues." Journal of Pension Economics and Finance 3, no. 3 (2004): 271–95. http://dx.doi.org/10.1017/s1474747204001738.

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Over the past 15 to 20 years, many companies have converted their traditional defined benefit plans to cash balance or pension equity plans. In a cash balance plan, the worker's ‘account’ is based on an annual contribution rate for each year of employment, plus accumulating interest on annual contributions. A pension equity plan defines the benefit as a percentage of final average earnings for each year of service under the plan. Both types of plans specify the benefit as a lump sum payable at termination. In contrast, traditional defined benefit plans specify benefits in terms of an annuity p

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2

GHILARDUCCI, TERESA, and WEI SUN. "How defined contribution plans and 401(k)s affect employer pension costs." Journal of Pension Economics and Finance 5, no. 2 (2006): 175–96. http://dx.doi.org/10.1017/s1474747205002386.

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We investigate the pension choices made by over 700 firms between 1981 and 1998 when DC plans expanded and overtook DB plans. Their average pension contribution per employee dropped in real terms from $2,140 in 1981 to $1,404 in 1998. At the same time, the share of their pension contributions attributed to defined contribution plans was 23% in 1981 and increased to 68% in 1998. By analyzing pension plan data from the IRS Form 5500 and finances of the plan's sponsoring employer from COMPUSTAT with a fixed-effects ordinary least squares model and a simultaneous model, we find that a 10% increase

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3

de Thierry, Ebony, Helen Lam, Mark Harcourt, Matt Flynn, and Geoff Wood. "Defined benefit pension decline: the consequences for organizations and employees." Employee Relations 36, no. 6 (2014): 654–73. http://dx.doi.org/10.1108/er-02-2013-0020.

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Purpose – The purpose of this paper is to use the theoretical and empirical pension literatures to question whether employers are likely to gain any competitive advantage from degrading or eliminating their employees’ defined benefit (DB) pensions. Design/methodology/approach – Critical literature review, bringing together and synthesizing the industrial relations, economics, social policy, and applied pensions literature. Findings – DB pension plans do deliver a number of potential performance benefits, most notably a decrease in turnover and establishment of longer-term employment relationsh

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Wang, Jun, Chunli Cui, and Tian Tian. "Optimal tactics in community pension model for defined benefit pension plans." PLOS ONE 20, no. 1 (2025): e0300766. https://doi.org/10.1371/journal.pone.0300766.

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Against the backdrop of an aging population, community pension initiatives are gaining traction, permeating societal landscapes. This study delves into the equilibrium strategy within the context of a defined benefit pension plan, employing a differential game framework with a community pension model. Hence, the model entails the company’s controls over investment rates in funds, juxtaposed with employees’ inclination towards a greater proportion of community pension allocation in said funds. To tackle this issue, a stochastic differential game model for pensions under a community pension sche

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5

Kilgour, John G. "The Evolution of Private Sector Retirement Income From Defined-Benefit Pensions to Target-Date 401(k) Plans." Compensation & Benefits Review 51, no. 2 (2019): 77–85. http://dx.doi.org/10.1177/0886368719864480.

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Traditional employer-sponsored defined-benefit pension plans in the private sector that provided lifetime benefits have declined precipitously since 1985. They have been largely replaced by Section 401(k) plans in which investment control, market risk and longevity risk have been transferred from the employer to the participant. Most participants opted for the low-yielding money market plan default option, which proved inadequate for providing viable retirement income. The Pension Reform Act of 2006 made two important changes to 401(k) plans: (1) allowed automatic enrollment and (2) allowed ta

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Luković, Stevan, and Marko Savićević. "The decline of defined benefit pension plans in developed countries." Ekonomika 67, no. 3 (2021): 19–37. http://dx.doi.org/10.5937/ekonomika2103019l.

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Defined benefit pension plans have played an important role in pension sectors of developed countries in North America, Great Britain and Western Europe for several decades. However, with the beginning of the 21st century, altered demographic trends and global financial market fluctuations have significantly disrupted the financial position of defined benefit pension plans. The aim of this paper is to examine the long-term movement of indicators of the importance of defined benefit pension plans in the pension systems of four developed countries: the United States, Canada, the Netherlands and

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Gómez Hernández, Denise, and Michael Demmler. "Collective Defined Contribution Schemes as an Alternative to Pension PlansCollective Defined Contribution Schemes as an Alternative to Pension Plans." Mercados Y Negocios, no. 45 (January 1, 2022): 5–26. http://dx.doi.org/10.32870/myn.vi45.7651.g6730.

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Traditional pension plans, such as defined contribution and defined benefit, face several risks: being the most known, the increase of the life expectancy. To reduce this risk, many hybrid pensions plans have been proposed, to mitigate this risk. The objective of this study is to explore the financial and actuarial sustainability of a hybrid pension plan known as collective defined contribution (CDC) by accumulating a pension fund with the methodology found in Aon (2020). The results of the simulations in this study show that the replacement rate defined in the design of a CDC pension plan is

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8

Gómez Hernández, Denise, and Michael Demmler. "Collective Defined Contribution Schemes as an Alternative to Pension PlansCollective Defined Contribution Schemes as an Alternative to Pension Plans." Mercados Y Negocios, no. 45 (January 1, 2022): 5–26. http://dx.doi.org/10.32870/myn.vi45.7651.

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Traditional pension plans, such as defined contribution and defined benefit, face several risks: being the most known, the increase of the life expectancy. To reduce this risk, many hybrid pensions plans have been proposed, to mitigate this risk. The objective of this study is to explore the financial and actuarial sustainability of a hybrid pension plan known as collective defined contribution (CDC) by accumulating a pension fund with the methodology found in Aon (2020). The results of the simulations in this study show that the replacement rate defined in the design of a CDC pension plan is

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9

Gómez Hernández, Denise, and Michael Demmler. "Collective Defined Contribution Schemes as an Alternative to Pension PlansCollective Defined Contribution Schemes as an Alternative to Pension Plans." Mercados Y Negocios, no. 45 (January 1, 2022): 5–26. http://dx.doi.org/10.32870/myn.vi45.7651.g6725.

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Traditional pension plans, such as defined contribution and defined benefit, face several risks: being the most known, the increase of the life expectancy. To reduce this risk, many hybrid pensions plans have been proposed, to mitigate this risk. The objective of this study is to explore the financial and actuarial sustainability of a hybrid pension plan known as collective defined contribution (CDC) by accumulating a pension fund with the methodology found in Aon (2020). The results of the simulations in this study show that the replacement rate defined in the design of a CDC pension plan is

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10

Toutkoushian, Robert K., Justin M. Bathon, and Martha M. McCarthy. "A National Study of the Net Benefits of State Pension Plans for Educators." Journal of Education Finance 37, no. 1 (2011): 24–51. http://dx.doi.org/10.1353/jef.2011.a448019.

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Although benefits can be a sizable part of an educator's total compensation, there has been little scholarly inquiry into the state pension plans for educators. Despite the fact that all defined benefit plans rely on the same basic formula for calculating annual pensions, they vary across states in the multiplier used, the method for calculating final average salary, the cost of participating in the plan, whether caps are imposed on first-year benefits, how cost-of-living increases are made, whether benefits are subject to state income taxes, and whether educators can retain Social Security be

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11

Kasaoka, Eriko. "Corporate Pension Systems and Pension Funding Status in ASEAN Countries." Asian Academy of Management Journal of Accounting and Finance 17, no. 1 (2021): 153–90. http://dx.doi.org/10.21315/aamjaf2021.17.1.6.

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National pension systems will vary among countries because of several factors. The role of the corporate pension in sustaining and supporting a country’s retirees is also different among nations. There are two main pension plans defined in International Accounting Standard No. 19: Employee Benefits, namely, defined benefit plans and defined contribution plans. The defined benefit plan requires a company to recognise its pension funding status on the balance sheet. In contrast, in a defined contribution plan, only the contribution amount to the plan is recognised as an expense on the firm’s inc

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12

Hansen, Janet S. "An Introduction to Teacher Retirement Benefits." Education Finance and Policy 5, no. 4 (2010): 402–37. http://dx.doi.org/10.1162/edfp_a_00012.

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Like most other state and local government employees, teachers participate primarily in defined benefit pension plans whose benefits are largely based on final average salaries and length of service. Such pensions have been replaced in many private sector firms by defined contribution pensions. A number of questions have arisen about the feasibility and desirability of continuing to rely on defined benefit pensions for teachers. This article provides a brief history of teacher pensions and an overview of teacher retirement benefits today, including differences in the legal and economic context

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FRIEDBERG, LEORA. "Labor market aspects of state and local retirement plans: a review of evidence and a blueprint for future research." Journal of Pension Economics and Finance 10, no. 2 (2011): 337–61. http://dx.doi.org/10.1017/s1474747211000072.

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AbstractTraditional defined benefit (DB) pension plans remain the overwhelming norm for teachers, policemen and other employees of state and local governments. The incentives for workers with DB pension plans to stay in their jobs shift dramatically over the course of their careers. Moreover, limited transferability of pension wealth across states and between public and private jobs impedes mobility in the labor market. Yet, little is known about the labor market effects of pensions on state and local government workers. The literature on private-employer pensions has made contributions on som

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CORONADO, JULIA LYNN, and PHILIP C. COPELAND. "Cash balance pension plan conversions and the new economy." Journal of Pension Economics and Finance 3, no. 3 (2004): 297–314. http://dx.doi.org/10.1017/s1474747204001684.

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Many firms that sponsor traditional defined benefit pensions have converted these plans to cash balance plans in the last en years. Cash balance plans in the last ten years combine features of defined benefit and defined contribution plans, and yet their introduction has proven considerably more controversial than has the increasing popularity of defined contribution plans. The goal of this study is to estimate a hierarchy of the influences on the decision of a firm to convert its traditional defined benefit pension plan to a cash balance plan. Our results indicate that cash balance conversion

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15

MITCHELL, OLIVIA S., and JANEMARIE MULVEY. "Potential implications of mandating choice in corporate defined benefit plans." Journal of Pension Economics and Finance 3, no. 3 (2004): 339–54. http://dx.doi.org/10.1017/s1474747204001805.

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The evolution of hybrid conversions has prompted a number of high-profile legal challenges. In response, policymakers have attempted to force companies transitioning from a traditional DB to a hybrid plan to offer all workers the open-ended choice of remaining in the old DB plan, versus switching to the new hybrid plan. This paper evaluates ‘winners’ and ‘losers’ under these plan conversions and estimates the cost to plan sponsors of such a mandate. We find that mandating choice could increase plan sponsors' pension expenses above their current cost for traditional defined benefit plans. In th

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16

HAINAUT, DONATIEN, and GRISELDA DEELSTRA. "Optimal funding of defined benefit pension plans." Journal of Pension Economics and Finance 10, no. 1 (2010): 31–52. http://dx.doi.org/10.1017/s1474747210000016.

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AbstractIn this paper, we address the issue of determining the optimal contribution rate of a defined benefit pension fund. The affiliate's mortality is modelled by a jump process and the benefits paid at retirement are function of the evolution of future salaries. Assets of the fund are invested in cash, stocks, and a rolling bond. Interest rates are driven by a Vasicek model. The objective is to minimize both the quadratic spread between the contribution rate and the normal cost, and the quadratic spread between the terminal wealth and the mathematical reserve required to cover benefits. The

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17

Blankley, Alan I., Philip Keejae Hong, and Kristin C. Roland. "Expected Benefit Payments and Asset Allocation in Defined Benefit Plans Post-SFAS 132(R)." Accounting Horizons 32, no. 3 (2018): 71–82. http://dx.doi.org/10.2308/acch-52098.

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SYNOPSIS We contribute to the literature examining defined benefit pension plan asset allocation in the post-SFAS 132(R) reporting environment. SFAS 132(R) requires firms to disclose the expected annual pension benefit payments, thus providing a direct way to measure pension plan payout horizon. Controlling for previously documented determinants of pension asset allocation, we find evidence that a payout horizon measure constructed from SFAS 132(R) disclosures is associated with the firm's pension investment decisions. Specifically, we document that firms with a greater proportion of pension o

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18

Lucas, John J. "Are Cash Balance Pension Plans A Viable Retirement Program For Corporate America?" Journal of Business & Economics Research (JBER) 10, no. 8 (2012): 451. http://dx.doi.org/10.19030/jber.v10i8.7173.

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Cash Balance Pension Plans are a defined benefit plan where employees have a hypothetical account that increases annually, as a result of compensation credit as well as interest credit. In essence, cash balance pension plans combine elements of both a traditional defined benefit plan and a defined contribution plan (Lucas, 2007). This paper examines the recent trends and legal ruling regarding cash balance pension plans. The paper also provides an examination of the role of the Pension Protection Act (PPA) of 2006 and its impact on cash balance pension plans. An evaluation will also be present

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19

MAURER, RAIMOND. "Integrated risk management for defined benefit pensions: models and metrics." Journal of Pension Economics and Finance 14, no. 2 (2014): 151–60. http://dx.doi.org/10.1017/s1474747214000456.

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AbstractThe Pension Benefit Guaranty Corporation (PBGC) insures private sector defined benefit (DB) pension plans, when an employer becomes insolvent and is unable to pay the pension liabilities. In principle, the insurance premiums collected by PBGC should be sufficient to cover potential losses; this would ensure that PBGC could pay the insured benefits of terminated pension plan without additional external funding (e.g., from taxpayers). Therefore, the risk exposure of the PBGC from insuring DB pension plans arises from the probability of the employer insolvencies; and the terminating plans

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20

Frank, Howard, Gerasimos (Jerry) Gianakis, and Milena I. Neshkova. "Critical Questions for the Transition to Defined Contribution Pension Systems in the Public Sector." American Review of Public Administration 42, no. 4 (2011): 375–99. http://dx.doi.org/10.1177/0275074011406712.

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Unfunded liabilities of pension plans sponsored by state and local governments have drastically increased in the past few years. This article examines the potential challenges faced by states and municipalities in meeting their pension obligations and explores the cost and benefits of a switch from traditional defined benefit (DB) plans to defined contribution (DC) plans. The authors draw on the experience of the private sector to depict the potential cost savings for governments and the likely impacts on employees. The authors also identify several issues that are unique to governments if a s

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21

Mulvey, John M., Koray D. Simsek, Zhuojuan Zhang, Frank J. Fabozzi, and William R. Pauling. "OR PRACTICE—Assisting Defined-Benefit Pension Plans." Operations Research 56, no. 5 (2008): 1066–78. http://dx.doi.org/10.1287/opre.1080.0526.

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22

Thomas, Jacob K. "Corporate taxes and defined benefit pension plans." Journal of Accounting and Economics 10, no. 3 (1988): 199–237. http://dx.doi.org/10.1016/0165-4101(88)90003-1.

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23

Oxner, Karen M., and Thomas H. Oxner. "Defined Benefit Pension Plans: Blue-Chip Benchmark." Journal of Corporate Accounting & Finance 29, no. 1 (2018): 89–97. http://dx.doi.org/10.1002/jcaf.22308.

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24

CAMPBELL, CYNTHIA J., MARK L. POWER, and ROGER D. STOVER. "Quid-pro-quo exchanges of outside director defined benefit pension plans for equity-based compensation." Journal of Pension Economics and Finance 5, no. 2 (2006): 155–74. http://dx.doi.org/10.1017/s1474747206002472.

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The independence of outside directors is critical to corporate board effectiveness. We examine a unique period in corporate governance when outside directors' defined benefit pensions are replaced with increases in equity. Firms with pension plans significantly underperform their industry in terms of stock returns. Firms terminating the pension plans in exchange for equity have significant increases in stock returns relative to their industry subsequent to the change. All samples outperform the ROA and ROE industry medians both before and after the change in compensation, indicating pressure f

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25

Fadilah, Alya, Andini Setyo Anggraeni, and Widya Reza. "Value at Risk Evaluation of Defined Contribution and Defined Benefit Pension Plans." Jurnal Ilmu Keuangan dan Perbankan (JIKA) 13, no. 2 (2024): 311–24. http://dx.doi.org/10.34010/jika.v13i2.12689.

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Pension funds such as the Defined Benefit Pension Program (DBPP) and the Defined Contribution Pension Program (DCPP) have risks that need to be managed carefully. Previous research has looked at VaR in other contexts, but no one has specifically discussed VaR in pension funds, especially DBPP and DCPP. The main objective of this research is to determine the VaR value for the two pension programs and analyze the risk differences between DBPP and DCPP. The method used is VaR measurement with Monte Carlo simulation based on data from January 2015 to July 2023. The research results obtained from t

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Allen, Steven G., and Robert L. Clark. "Unions, Pension Wealth, and Age-Compensation Profiles." ILR Review 39, no. 4 (1986): 502–17. http://dx.doi.org/10.1177/001979398603900404.

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This paper examines the effect of unions on both the magnitude and distribution of pension benefits. An analysis of experience during 1973–79 under a sample of defined benefit plans shows that beneficiaries retire at an earlier age under collectively bargained plans than under other plans, receive larger benefits when they retire, and receive larger increases in their benefits after they retire. Also, benefit differentials within and across cohorts of retirees are smaller among union than nonunion beneficiaries. The average union-nonunion differential is therefore greater in total compensation

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Ekasasmita, Wahyuni, Nur Rahmi, Khaera Tunnisa, and Muhammad Ikhlashul Amal. "OPTIMIZING DEFINED BENEFIT PENSION PLAN FUNDING: COMBINING ENTRY AGE NORMAL METHOD AND SINGLE SALARY APPROACH." BAREKENG: Jurnal Ilmu Matematika dan Terapan 19, no. 3 (2025): 1553–64. https://doi.org/10.30598/barekengvol19iss3pp1553-1564.

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The sustainability of defined benefit pension plans relies heavily on effective funding strategies. This study aims to develop an optimized funding strategy for Defined Benefit Pension Plans by integrating the Entry Age Normal (EAN) method with the Single Salary Approach (SSA). The Entry Age Normal method provides a systematic way to distribute the cost of pension benefits over the career of employees, ensuring long-term stability. Meanwhile, the Single Salary Approach simplifies salary projections, making it easier to manage fund contributions while accounting for future wage inflation. To ev

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Hyatt, Douglas E., and James E. Pesando. "The Distribution of Investment Risk in Defined Benefit Pension Plans: A Reconsideration." Articles 51, no. 1 (2005): 136–57. http://dx.doi.org/10.7202/051078ar.

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The "textbook " description is that members of defined benefit pension plans bear no investment risk, in sharp contrast to members of defined contribution plans. Yet formal or informal bargaining may focus on the size of required employer contributions to a defined benefit plan. If at least some of the costs of such employer contributions are shifted back to workers, then members of defined benefit plans do bear investment risk. We utilize three sources of empirical evidence (a survey of pension specialists, econometric analysis, and case studies) to support the proposition that employees do b

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McCARTHY, DAVID. "A life-cycle analysis of defined benefit pension plans." Journal of Pension Economics and Finance 2, no. 2 (2003): 99–126. http://dx.doi.org/10.1017/s1474747203001288.

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This paper employs a lifecycle model from the consumption–savings literature to examine the tradeoffs between defined benefit and defined contribution pension plans. We examine the effects of varying risk aversion, varying initial income and financial wealth, and varying wage processes (that may be correlated with returns on the risky asset).Results indicate that wage-indexed claims are not an optimal vehicle for retirement policy if the decision to participate is made early in life, because individuals hold most of their wealth in their human capital and would not wish to increase their expos

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GUSTMAN, ALAN L., THOMAS L. STEINMEIER, and NAHID TABATABAI. "Mismeasurement of pensions before and after retirement: the mystery of the disappearing pensions with implications for the importance of Social Security as a source of retirement support." Journal of Pension Economics and Finance 13, no. 1 (2013): 1–26. http://dx.doi.org/10.1017/s1474747213000176.

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AbstractA review of the literature suggests that when pension values are measured by the wealth equivalent of promised defined benefit pension benefits and defined contribution balances for those approaching retirement, pensions account for more support in retirement than is suggested when their contribution is measured by incomes received directly from pension plans by those who have already retired. Estimates from the Health and Retirement Study for respondents in their early fifties suggest that pension wealth is about 82% as valuable as Social Security wealth. In data from the Current Popu

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Quelhas, Ana Paula. "On the distinction between defined benefit pension plans and defined contribution pension plans: myths and facts." Boletim de Ciências Económicas 57, no. 3 (2014): 2733–64. http://dx.doi.org/10.14195/0870-4260_57-3_7.

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COOPER, RUSSELL W., and THOMAS W. ROSS. "Protecting underfunded pensions: the role of guarantee funds." Journal of Pension Economics and Finance 2, no. 3 (2003): 247–72. http://dx.doi.org/10.1017/s1474747203001343.

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Employer-related pensions are a common and extremely important component of the compensation paid to workers in both the public and private sectors of developed economies. Many private pensions are insufficiently funded, exposing workers to the risk of a loss should their employer cease operations and not be available to meet pension obligations.In this paper we study the role of guarantee funds as providers of insurance to workers against the failure of firms with underfunded defined benefit pension plans. Employing a model that predicts pension underfunding, we consider first how private gua

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Kilgour, John G. "Public Sector Pension Plans: Defined Benefit Versus Defined Contribution." Compensation & Benefits Review 38, no. 1 (2006): 20–28. http://dx.doi.org/10.1177/0886368704273214.

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Stone, Kenneth E., David W. Joy, and Cynthia J. Thomas. "Opinions Of Financial Analysts On Accounting For defined Benefit Pension Plans." Journal of Applied Business Research (JABR) 11, no. 3 (2011): 65. http://dx.doi.org/10.19030/jabr.v11i3.5861.

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Responding financial analysts preferred pension plan accounting which contrasts with requirements of SFAS No. 87. The preferred model included: (1) Plan assets and accumulated benefit obligations are on the balance sheet. (2) Prior service cost is recognized in the year of plan adoption or amendment. (3) Gains and losses are recognized when they occur. (4) Annual pension expense is computer by netting the change in fair value of plan assets, deposits to the pension plan, and the change in accumulated benefit obligations.

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Hoang, Trang, and Anh Tuan Nguyen. "Navigating the Public Pension Landscape: An Examination of Asset Allocations." Public Finance and Management 22, no. 1 (2023): 1–34. http://dx.doi.org/10.37808/pfm.22.1.1.

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The volatility of financial markets has highlighted the sensitivity of pension funding to pension investment management and the risk exposure of pension investment portfolios. In this study, we examine the asset allocations of U.S state and local governments defined-benefit plans to gain a better understanding on how those public pension plans manage their portfolio's risks. Using the data from over 90 public pension plans from 2007 to 2018, we found that pension plans that have a higher percentage of ex-official trustees, a higher average investment return, and a higher percentage pension con

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Muralidhar, Arun, and Ronald van der Wouden. "Optimal ALM strategies for defined benefit pension plans." Journal of Risk 2, no. 2 (2000): 47–69. http://dx.doi.org/10.21314/jor.2000.024.

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37

Gerard, Marc. "Reform Options for Mature Defined Benefit Pension Plans." IMF Working Papers 19, no. 22 (2019): 1. http://dx.doi.org/10.5089/9781484395912.001.

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Kilgour, John G. "“De-Risking” Private Sector Defined Benefit Pension Plans." Compensation & Benefits Review 46, no. 1 (2013): 32–40. http://dx.doi.org/10.1177/0886368713500561.

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39

Huang, Hong-Chih, and Andrew J. G. Cairns. "On the control of defined-benefit pension plans." Insurance: Mathematics and Economics 38, no. 1 (2006): 113–31. http://dx.doi.org/10.1016/j.insmatheco.2005.08.005.

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Murnane, Richard J. "Commentary on Teacher Pension Papers." Educational Researcher 52, no. 2 (2023): 119–22. http://dx.doi.org/10.3102/0013189x221095062.

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This commentary explains how changing labor market conditions have made it more important for schools to attract and retain skilled teachers and yet more difficult to do so. This is important context for considering the contributions of the five papers on teacher pensions in this special issue. I describe and comment on the evidence that defined benefit (DB) pension plans have deleterious impacts on the ability of public schools to provide students with an excellent education. I describe the merits of alternative strategies for responding to the central problem with DB plans as currently funde

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Omori, Kozo, and Tomoki Kitamura. "Effect of debt tax benefits on corporate pension funding and risk-taking." Journal of Economic Studies 47, no. 6 (2020): 1327–37. http://dx.doi.org/10.1108/jes-04-2019-0188.

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PurposeThis study theoretically investigates the impacts of tax benefits on funding level and risk-taking of a corporate defined benefit (DB) pension plan.Design/methodology/approachThe present value of the future tax benefits is maximized while the stockholders determine the funding level and investment risk-taking in DB plans. As a feature of DB plans, this study considers pension benefits to be pre-determined. Further, the pension beneficiary has a priority over the sponsor company's creditors for the pension reserve fund. These are seldom considered in previous studies.FindingsIt is desira

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DOWDELL, THOMAS D., BONNIE K. KLAMM, and ROXANNE M. SPINDLE. "Predicting cash flows related to defined benefit plan contributions." Journal of Pension Economics and Finance 9, no. 4 (2010): 505–32. http://dx.doi.org/10.1017/s1474747209990333.

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AbstractFuture contributions to defined benefit pension plans are a significant cash flow item that can be difficult to estimate. Funding ratios – pension assets relative to pension liabilities – have long been considered important for estimating cash flows needed for current and future pension contributions (Ballester et al., 1998). However, US GAAP or IFRS funding ratios that companies report in their financial statements may differ from funding ratios used by pension regulators. These regulatory funding ratios may be more useful for predicting future contributions.We investigate whether US

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FABOZZI, FRANK J., SERGIO M. FOCARDI, and CAROLINE L. JONAS. "Market experience with modeling for defined-benefit pension funds: evidence from four countries." Journal of Pension Economics and Finance 4, no. 3 (2005): 313–27. http://dx.doi.org/10.1017/s1474747205002106.

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This paper takes a look at the modeling side of pension fund management. It is based on interviews with pension fund managers, regulators, consultants, and academics in four countries – the Netherlands, Switzerland, the United Kingdom, and the United States. The objective was to understand, through the experience of market participants, the role of modeling in managing defined-benefit pension funds. The 28 defined-benefit pension funds participating in the study have a total of €334 billion ($436 billion) assets under management. The findings of our study show that modeling is now considered a

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JOHNSON, RICHARD W., and EUGENE STEUERLE. "Promoting work at older ages: the role of hybrid pension plans in an aging population." Journal of Pension Economics and Finance 3, no. 3 (2004): 315–37. http://dx.doi.org/10.1017/s147474720400174x.

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Employers are beginning to search for ways to elicit more labor supply from older adults as the population ages, the ability to work in later life increases, and younger workers become relatively scarce. Many employers are turning to hybrid pension plans, such as cash balance plans and pension equity plans. Whereas traditional defined benefit plans often subsidize workers who retire early and penalize those who remain at work beyond the plan's retirement age, most hybrid plans reward work at older ages. This paper documents the impact of population aging on the labor market and changes over ti

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HAVERSTICK, KELLY, ALICIA H. MUNNELL, GEOFFREY SANZENBACHER, and MAURICIO SOTO. "Pension type, tenure, and job mobility." Journal of Pension Economics and Finance 9, no. 4 (2010): 609–25. http://dx.doi.org/10.1017/s1474747209990321.

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AbstractOver the last 25 years, the United States has seen a dramatic shift in the private sector away from defined benefit plans and towards defined contribution plans. While commentators constantly cite an increase in labor mobility as a major reason for the shift in the private sector from defined benefit to defined contribution plans, researchers to date have not been able to document any difference in mobility by pension type. This study argues that the inability to find such a relationship stems from ignoring the important role of job tenure. Using data from the Survey of Income and Prog

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SCHRAGER, ALLISON. "The decline of defined benefit plans and job tenure." Journal of Pension Economics and Finance 8, no. 3 (2008): 259–90. http://dx.doi.org/10.1017/s1474747208003570.

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AbstractThis paper investigates the consequences of relying on assets accumulated in a defined contribution pension plan compared to an annuity based on salary from a defined benefit plan. Although a defined contribution plan varies with asset returns, it may be more desirable than a defined benefit plan when wage variability and job turnover are adequately considered. It is found that both job separation rates and wage variance increased in the 1990s. The new calibrations of these variables are used in a life-cycle model where a worker chooses between a defined benefit and a defined contribut

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MANNINO, MICHAEL V., and ELIZABETH S. COOPERMAN. "Surplus deferred pension compensation for long-term K-12 employees: an empirical analysis for the Denver Public School Retirement System and four state plans." Journal of Pension Economics and Finance 10, no. 3 (2010): 457–83. http://dx.doi.org/10.1017/s1474747210000387.

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AbstractThis study uses a unique data set of retiree characteristics and salary histories for administrators, teachers, and non-professional employees of the Denver Public School Retirement System (DPSRS) to analyze surplus deferred compensation for DPSRS and four state K-12 defined benefit pension plans. We find sizable levels of surplus deferred compensation for each plan, with significant differences across plans, job classes, and age groups. Across plans, differences in cost of living allowances impact the expected present value of retirement benefits more than benefit table differences wh

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De La Peña, J. Iñaki, M. Cristina Fernández-Ramos, Asier Garayeta, and Iratxe D. Martín. "Transforming Private Pensions: An Actuarial Model to Face Long-Term Costs." Mathematics 10, no. 7 (2022): 1082. http://dx.doi.org/10.3390/math10071082.

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A common response in public pension systems to population ageing is to link pensions to observed longevity. This creates an automatic stabiliser that arises from the valuation of a private actuarially funded system. However, no private pension plan mechanism has been articulated to adapt to this ageing in relation to the increased costs it entails. Private pension plans focus on saving for retirement; capital is accumulated to pay for it. However, perceptions of health status change over time and, as retirement age approaches, concerns about long-term care (LTC) increase. Moreover, there is no

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Kowalczyk-Rólczyńska, Patrycja, Damian Walczak, and Sylwia Pieńkowska-Kamieniecka. "PARTICIPATION IN PENSION PLANS WITH AUTOMATIC RECORD - GENDER DIFFERENTIATION." Polityka Społeczna 602, no. 7 (2024): 15–23. http://dx.doi.org/10.5604/01.3001.0054.7579.

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Poland is one of the countries in which the model of defined contribution is obligatory in both pension pillars – public and private. The pension in that model depends on two basis variables, i.e. gathered capital and on further life expectancy in the moment of calculating the pension benefit. As a result, in that countries where a lower retirement age is set for women than for men – for example in Poland - they receive - in defined contribution systems - lower pension benefits. For this reason, it is necessary to encourage women to save voluntarily for elderly age, and for this reason the sta

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Comprix, Joseph, and Karl A. Muller. "Pension plan accounting estimates and the freezing of defined benefit pension plans." Journal of Accounting and Economics 51, no. 1-2 (2011): 115–33. http://dx.doi.org/10.1016/j.jacceco.2010.06.003.

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