A Senior's Life

LIC regains market share, private company slip

Private life insurers have seen their new business growth slow down to a mere 2% even as Life Insurance Corporation regained market share with a 23% jump in premium collections to Rs 86,444 crore for the financial year 2010-11. Life insurers have found it a challenge to grow business after new regulations came into effect from September 2010.

According to data collated by the Insurance Regulatory and Development Authority, private life companies’ growth came from group insurance. They posted new business premium collection of Rs 39,281 crore. Premium from individuals, which excludes payments for group policies made by corporate, shrunk by 4% to Rs 3041 crore for the private life industry.

But Life Insurance Corporation (
LIC
) managed to beat the trend due to three factors; firstly, its economies of scale allow it to sell single premium policies. Secondly, it has a strong base of traditional products (non unit-linked plans) which were unaffected by the guidelines; and thirdly, its group Retirement products have done very well.

Following the sharp growth in new business premium, LIC’s market share in premium from new policies has jumped four percentage points from 64.86% in March 2010 to 68.7% in March 2011. The other companies among the top five in terms of market share include ICICI Pru Life (6.25%), SBI Life (6.01%), HDFC Life (3.23%) and Bajaj Allianz (2.75%)

For private companies, besides the inability to sell policies that were predominantly investment products, there were two other limitations. Most private life companies were under pressure from their promoters to shift focus from topline to profits after turning in losses for over eight years. Also, private companies were hit by their inability to sell pension plans which constituted a large chunk of their business.

The performance of the
insurance
industry this year comes out better than it actually is because IRDA numbers give full credit for single-premium policies. These are covers where premium for subsequent years is collected in the first year. If, like in other markets, the collection from single premium plans were annualized, the private life insurers would not have recorded any growth.

Last year, following charges by Sebi that life insurers were selling mutual fund schemes under the guise of unit-linked life insurance, the insurance regulator cracked down on life companies and came out with stringent norms. The new guidelines drastically reduced charges that companies could deduct from the investment component. They also forced insurers to offer a minimum level of insurance with every policy. Following the new norms, customers, particularly high net-worth investors, did not find it worthwhile to route their stock market investments through unit-linked policies.
Pension plans
, which constituted 30-40% of premium for several companies, also took a hit after IRDA made it mandatory for life insurers to guarantee a minimum level of return.

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Private Pensions: Changes Needed to Better Protect Multiemployer Pension Benefits: Report to the Chairman, Committee on Education and Labor $17.69 Used – Original publisher: [Washington, D.C.]: U.S. Govt. Accountability Office, [2010] OCLC Number: (OCoLC)724120451 Subject: Multiemployer pension plans — Government policy — United States. Excerpt: … Figure 2: PBGC-Insured Multiemployer Plan Participants, by Industry, 2000 through 2008 Participants ( in millions ) 4 3 2 1 0 2008 2003 2005 2006 2007 2001 2002 2004 2000 Year Construction Manufacturing Transportation Retail trade Services Other industries Source: GAO analysis of PBGC annual

Private Pensions: Changes Needed to Better Protect Multiemployer Pension Benefits: Report to the Chairman, Committee on Education and Labor $15.74 Used – Original publisher: [Washington, D.C.]: U.S. Govt. Accountability Office, [2010] OCLC Number: (OCoLC)724120451 Subject: Multiemployer pension plans — Government policy — United States. Excerpt: …Figure 2: PBGC-Insured Multiemployer Plan Participants, by Industry, 2000 through 2008 Participants ( in millions ) 4 3 2 1 0 2008 2003 2005 2006 2007 2001 2002 2004 2000 Year Construction Manufacturing Transportation Retail trade Services Other industries Source: GAO analysis of PBGC annual P

Private Pensions: Changes Needed to Better Protect Multiemployer Pension Benefits: Report to the Chairman, Committee on Education and Labor $17.68 Used – Original publisher: [Washington, D.C.]: U.S. Govt. Accountability Office, [2010] OCLC Number: (OCoLC)724120451 Subject: Multiemployer pension plans — Government policy — United States. Excerpt: … Figure 2: PBGC-Insured Multiemployer Plan Participants, by Industry, 2000 through 2008 Participants ( in millions ) 4 3 2 1 0 2008 2003 2005 2006 2007 2001 2002 2004 2000 Year Construction Manufacturing Transportation Retail trade Services Other industries Source: GAO analysis of PBGC annual

Private Pensions: Changes Needed to Better Protect Multiemployer Pension Benefits: Report to the Chairman, Committee on Education and Labor $17.23 New – Original publisher: [Washington, D.C.]: U.S. Govt. Accountability Office, [2010] OCLC Number: (OCoLC)724120451 Subject: Multiemployer pension plans — Government policy — United States. Excerpt: …Figure 2: PBGC-Insured Multiemployer Plan Participants, by Industry, 2000 through 2008 Participants ( in millions ) 4 3 2 1 0 2008 2003 2005 2006 2007 2001 2002 2004 2000 Year Construction Manufacturing Transportation Retail trade Services Other industries Source: GAO analysis of PBGC annual Pe

Private Pensions: Changes Needed to Better Protect Multiemployer Pension Benefits: Report to the Chairman, Committee on Education and Labor $17.23 Used – Original publisher: [Washington, D.C.]: U.S. Govt. Accountability Office, [2010] OCLC Number: (OCoLC)724120451 Subject: Multiemployer pension plans — Government policy — United States. Excerpt: … Figure 2: PBGC-Insured Multiemployer Plan Participants, by Industry, 2000 through 2008 Participants ( in millions ) 4 3 2 1 0 2008 2003 2005 2006 2007 2001 2002 2004 2000 Year Construction Manufacturing Transportation Retail trade Services Other industries Source: GAO analysis of PBGC annual

Private Pensions: Changing Funding Rules and Enhancing Incentives Can Improve Plan Funding $4.08 New – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2003] OCLC Number: (OCoLC)54344738 Subject: Defined benefit pension plans — United States. Excerpt: …Several types of reforms might be considered to improve the funding of Strengthening Plan defined-benefit pension plans. Some options for reform would directly Funding Rules Can address funding requirements and related rules. Funding rules could be revised to require increased minimum contributions to underfunded pl

Private Pensions: Changing Funding Rules and Enhancing Incentives Can Improve Plan Funding $4.08 Used – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2003] OCLC Number: (OCoLC)54344738 Subject: Defined benefit pension plans — United States. Excerpt: …Several types of reforms might be considered to improve the funding of Strengthening Plan defined-benefit pension plans. Some options for reform would directly Funding Rules Can address funding requirements and related rules. Funding rules could be revised to require increased minimum contributions to underfunded p

Private Pensions: Implications of Conversions to Cash Balance Plans: Report to Congressional Requesters $15.74 Used – Original publisher: Washington, D.C. (P.O. Box 37050, Washington 20013): The Office, [2000] LC Number: HD7105.45.U6 .U55 2000 OCLC Number: (OCoLC)45420314 Subject: Pension trusts — United States. Excerpt: …B-283648 Converting to cash balance plans is also an alternative to terminating a pension plan. Firms can terminate their defined benefit plans, but doing so imposes various economic costs. When plan sponsors terminate defined benefit plans, the sponsors must pay income and excise ta

Private Pensions: Implications of Conversions to Cash Balance Plans: Report to Congressional Requesters $15.74 New – Original publisher: Washington, D.C. (P.O. Box 37050, Washington 20013): The Office, [2000] LC Number: HD7105.45.U6 .U55 2000 OCLC Number: (OCoLC)45420314 Subject: Pension trusts — United States. Excerpt: …B-283648 Converting to cash balance plans is also an alternative to terminating a pension plan. Firms can terminate their defined benefit plans, but doing so imposes various economic costs. When plan sponsors terminate defined benefit plans, the sponsors must pay income and excise tax

Private Pensions: Improving Worker Coverage and Benefits $7.51 Used – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2002] OCLC Number: (OCoLC)53896335 Subject: Pension trusts — United States. Excerpt: …plan without rollover to an IRA raises concerns about future retirement income. Lump sum distributions can have advantages, because they allow flexibility for workers who have high-priority needs such as medical treatment, purchasing a home, or investing in a business. Lump sums distributions may also make sense when the amount i

Private Pensions: Improving Worker Coverage and Benefits $7.51 New – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2002] OCLC Number: (OCoLC)53896335 Subject: Pension trusts — United States. Excerpt: …plan without rollover to an IRA raises concerns about future retirement income. Lump sum distributions can have advantages, because they allow flexibility for workers who have high-priority needs such as medical treatment, purchasing a home, or investing in a business. Lump sums distributions may also make sense when the amount is

Private Pensions: Information on Cash Balance Pension Plans: Report to Congressional Requesters $15.74 New – Original publisher: [Washington, D.C.]: U.S. Government Accountability Office, [2005] OCLC Number: (OCoLC)63515343 Subject: Defined benefit pension plans — United States. Excerpt: …Appendix I: Information on Cash Balance Pension Plans Appendix I: Information on Cash Balance Pension Plans Objectives I. Literature Review: Evaluate current research on the implications of cash balance ( CB ) plan conversions II. Plan Analysis: Review CB plans for the prevalence and types of transition provi

Private Pensions: Information on Cash Balance Pension Plans: Report to Congressional Requesters $15.74 Used – Original publisher: [Washington, D.C.]: U.S. Government Accountability Office, [2005] OCLC Number: (OCoLC)63515343 Subject: Defined benefit pension plans — United States. Excerpt: …Appendix I: Information on Cash Balance Pension Plans Appendix I: Information on Cash Balance Pension Plans Objectives I. Literature Review: Evaluate current research on the implications of cash balance ( CB ) plan conversions II. Plan Analysis: Review CB plans for the prevalence and types of transition prov

Private Pensions: Issues of Coverage and Increasing Contribution Limits for Defined Contribution Plans $7.09 Used – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2001] OCLC Number: (OCoLC)54907916 Subject: Defined contribution pension plans — United States. Excerpt: …less likely than men to participate in a pension plan. Specifically, half of all male workers and 44 percent of all female workers participated in a plan. ( See fig. 2. ) Women workers ‘ lower wages, greater concentration in part-time jobs, and greater concentration in industries where few employers offer pens

Private Pensions: Issues of Coverage and Increasing Contribution Limits for Defined Contribution Plans $7.09 New – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2001] OCLC Number: (OCoLC)54907916 Subject: Defined contribution pension plans — United States. Excerpt: …less likely than men to participate in a pension plan. Specifically, half of all male workers and 44 percent of all female workers participated in a plan. ( See fig. 2. ) Women workers ‘ lower wages, greater concentration in part-time jobs, and greater concentration in industries where few employers offer pensi

Private Pensions: Low Defined Contribution Plan Savings May Pose Challenges to Retirement Security $15.74 New – Original publisher: [Washington, D.C.]: U.S. Govt. Accountability Office, [2007] OCLC Number: (OCoLC)187928618 Subject: Defined contribution pension plans — United States. Excerpt: …Plan sponsorship – the employer’s decision to sponsor a plan, as well as participation eligibility rules. Employer contributions – whether the sponsor makes matching or noncontingent contributions. Investment options – the plan sponsor’s decisions about investment options to offer to participants under the p

Private Pensions: Low Defined Contribution Plan Savings May Pose Challenges to Retirement Security $15.74 Used – Original publisher: [Washington, D.C.]: U.S. Govt. Accountability Office, [2007] OCLC Number: (OCoLC)187928618 Subject: Defined contribution pension plans — United States. Excerpt: …Plan sponsorship – the employer’s decision to sponsor a plan, as well as participation eligibility rules. Employer contributions – whether the sponsor makes matching or noncontingent contributions. Investment options – the plan sponsor’s decisions about investment options to offer to participants under the

Private Pensions: Most Employers That Offer Pensions Use Defined Contribution Plans: Report to the Chairman, Subcommittee on Civil Service $10.78 New – Original publisher: Washington, D.C. (P.O. Box 37050, Washington, D.C. 20013): The Office, [1996] OCLC Number: (OCoLC)37309009 Subject: Defined contribution pension plans — United States — Statistics. Excerpt: …B-271701 employees must work before being entitled to pension benefits. Since was enacted, the plan termination insurance premiums paid by ERISA employers with DB plans have increased from $ 1 to $ 19 for each plan participant and an additional variable premium is required for u

Private Pensions: Most Employers That Offer Pensions Use Defined Contribution Plans: Report to the Chairman, Subcommittee on Civil Service $10.78 Used – Original publisher: Washington, D.C. (P.O. Box 37050, Washington, D.C. 20013): The Office, [1996] OCLC Number: (OCoLC)37309009 Subject: Defined contribution pension plans — United States — Statistics. Excerpt: …B-271701 employees must work before being entitled to pension benefits. Since was enacted, the plan termination insurance premiums paid by ERISA employers with DB plans have increased from $ 1 to $ 19 for each plan participant and an additional variable premium is required for

Private Pensions: Multiemployer Pensions Face Key Challenges to Their Long-Term Prospects $4.08 Used – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2004] OCLC Number: (OCoLC)54830097 Subject: Multiemployer pension plans — United States — Evaluation. Excerpt: …consulting firm showed that the percentage of its multiemployer client plans that were fully funded declined from 83 percent in 2001 to 67 percent 13 in 2002. Other, more anecdotal evidence suggests increased difficulties for multiemployer plans. For example, discussions with plan administrators have in

Private Pensions: Multiemployer Pensions Face Key Challenges to Their Long-Term Prospects $4.08 New – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2004] OCLC Number: (OCoLC)54830097 Subject: Multiemployer pension plans — United States — Evaluation. Excerpt: …consulting firm showed that the percentage of its multiemployer client plans that were fully funded declined from 83 percent in 2001 to 67 percent 13 in 2002. Other, more anecdotal evidence suggests increased difficulties for multiemployer plans. For example, discussions with plan administrators have ind

Private Pensions: Multiemployer Plans Face Short- And Long-Term Challenges $7.05 New – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2004] OCLC Number: (OCoLC)55116877 Subject: Multiemployer pension plans — United States — Evaluation. Excerpt: …Contribution Rates – Unlike single-employer plans, multiemployer plan funds receive steady contributions from employers because those amounts generally have been set through multiyear collective bargaining contracts. Participating employers, therefore, have less flexibility to vary their contributions in

Private Pensions: Multiemployer Plans Face Short- And Long-Term Challenges $12.21 Used – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2004] OCLC Number: (OCoLC)55116877 Subject: Multiemployer pension plans — United States — Evaluation. Excerpt: … Contribution Rates – Unlike single-employer plans, multiemployer plan funds receive steady contributions from employers because those amounts generally have been set through multiyear collective bargaining contracts. Participating employers, therefore, have less flexibility to vary their contributions

Private Pensions: Multiemployer Plans Face Short- And Long-Term Challenges $12.48 Used – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2004] OCLC Number: (OCoLC)55116877 Subject: Multiemployer pension plans — United States — Evaluation. Excerpt: … Contribution Rates – Unlike single-employer plans, multiemployer plan funds receive steady contributions from employers because those amounts generally have been set through multiyear collective bargaining contracts. Participating employers, therefore, have less flexibility to vary their contributions

Private Pensions: Multiemployer Plans Face Short- And Long-Term Challenges $12.26 Used – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2004] OCLC Number: (OCoLC)55116877 Subject: Multiemployer pension plans — United States — Evaluation. Excerpt: … Contribution Rates – Unlike single-employer plans, multiemployer plan funds receive steady contributions from employers because those amounts generally have been set through multiyear collective bargaining contracts. Participating employers, therefore, have less flexibility to vary their contributions

Private Pensions: Multiemployer Plans Face Short- And Long-Term Challenges $7.05 Used – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2004] OCLC Number: (OCoLC)55116877 Subject: Multiemployer pension plans — United States — Evaluation. Excerpt: …Contribution Rates – Unlike single-employer plans, multiemployer plan funds receive steady contributions from employers because those amounts generally have been set through multiyear collective bargaining contracts. Participating employers, therefore, have less flexibility to vary their contributions i

Private Pensions: Participants Need Information on Risks They Face in Managing Pension Assets at and During Retirement: Report to Congressional Requesters $15.64 Used – OCLC Number: 53404424 Excerpt: …Because of concerns about whether retirees will preserve their pension assets you asked us to determine: ( 1 ) what benefit payout options and accompanying information pension plans make available to participants at retirement; ( 2 ) what benefit payouts plan participants receive at retirement; and ( 3 ) the actions available to help retiring participants preserve their pension and retirement savings plan assets. To determine what benefit payout options a

Private Pensions: Participants Need Information on Risks They Face in Managing Pension Assets at and During Retirement: Report to Congressional Requesters $15.64 New – OCLC Number: 53404424 Excerpt: …Because of concerns about whether retirees will preserve their pension assets you asked us to determine: ( 1 ) what benefit payout options and accompanying information pension plans make available to participants at retirement; ( 2 ) what benefit payouts plan participants receive at retirement; and ( 3 ) the actions available to help retiring participants preserve their pension and retirement savings plan assets. To determine what benefit payout options an

Private Pensions: Plan Features Provided by Employers That Sponsor Only Defined Contribution Plans: Report to the Chairman $15.74 New – Original publisher: Washington, D.C.: The Office, [1997] OCLC Number: (OCoLC)40712809 Subject: Defined contribution pension plans — United States. Excerpt: …B-275103 Figure 2: Percentage of Employers That Provide for Various Types of 100 Percent of employers Contributions, by Employer Size ( 1993 ) 80 60 40 20 0 Participant Participant Employer Employer after-tax nonmatching pretax matching Type of contribution Employers with 100 or more employees ( n = 3,297 ) Employers with 10,000 or

Private Pensions: Plan Features Provided by Employers That Sponsor Only Defined Contribution Plans: Report to the Chairman $15.74 Used – Original publisher: Washington, D.C.: The Office, [1997] OCLC Number: (OCoLC)40712809 Subject: Defined contribution pension plans — United States. Excerpt: …B-275103 Figure 2: Percentage of Employers That Provide for Various Types of 100 Percent of employers Contributions, by Employer Size ( 1993 ) 80 60 40 20 0 Participant Participant Employer Employer after-tax nonmatching pretax matching Type of contribution Employers with 100 or more employees ( n = 3,297 ) Employers with 10,000 or

Private Pensions: Publicly Available Reports Provide Useful But Limited Information on Plans’ Financial Condition $7.07 New – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2004] OCLC Number: (OCoLC)54950493 Subject: Defined benefit pension plans — United States — Evaluation. Excerpt: …Table 1: Differences in Measures of Pension Assets and Liabilities in Reports Form 5500 Schedule B Corporate financial statement Significance Measurement dates May be any day during the plan The last day of the plan sponsor’s The use of different dates year. Large companies typically fiscal year or, if

Private Pensions: Publicly Available Reports Provide Useful But Limited Information on Plans’ Financial Condition $7.07 Used – Original publisher: [Washington, D.C.]: U.S. General Accounting Office, [2004] OCLC Number: (OCoLC)54950493 Subject: Defined benefit pension plans — United States — Evaluation. Excerpt: …Table 1: Differences in Measures of Pension Assets and Liabilities in Reports Form 5500 Schedule B Corporate financial statement Significance Measurement dates May be any day during the plan The last day of the plan sponsor’s The use of different dates year. Large companies typically fiscal year or, i

Private Pensions: Revision of Defined Benefit Pension Plan Funding Rules Is an Essential Component of Comprehensive Pension Reform $9.63 New – The BiblioGov Project is an effort to expand awareness of the public documents and records of the U.S. Government via print publications. In broadening the public understanding of government and its work, an enlightened democracy can grow and prosper. Ranging from historic Congressional Bills to the most recent Budget of the United States Government, the BiblioGov Project spans a wealth of government information. These works are now made available through an environmentally friendly, print

Private Pensions: Revision of Defined Benefit Pension Plan Funding Rules Is an Essential Component of Comprehensive Pension Reform $9.63 Used – The BiblioGov Project is an effort to expand awareness of the public documents and records of the U.S. Government via print publications. In broadening the public understanding of government and its work, an enlightened democracy can grow and prosper. Ranging from historic Congressional Bills to the most recent Budget of the United States Government, the BiblioGov Project spans a wealth of government information. These works are now made available through an environmentally friendly, prin

Retirement Policy Issues in Canada $49.95 This on-coming wave of retirements will have major implications for the economic well-being of both the retirees—particularly since people are living longer after retirement—and the Canadian economy at large. In Retirement Policy Issues in Canada, contributors look at Canada’s changing retirement landscape in broad terms. Chapters cover such topics as the direction of pension regulation in Canada, Canadian retirement patterns, retirement income replacement rates, challenges and policy options for an aging workforce, retirement incentives in defined benefit public and private pensions in Canada, key design features of defined benefit and defined contribution pension plans, recent legal and regulatory changes in pension plan design in Canada, options for older workers following job loss, management of longevity risks, sustainability of the Canada Pension Plan, mandatory retirement and private plan incentives, and the retirement prospects of immigrants. Contributors include Robin Boadway (Queen’s), Stephen Bonnar (Towers Perrin), John Burbidge (Waterloo), Robert Clark (North Carolina State), Katherine Cuff (McMaster), Richard Disney (Nottingham), David Dodge (Bank of Canada), Peter Drake (Fidelity Investments), Rick Egelton (CPP Investment Board), Maxime Fougère, (HRSDC), Barbara Glover (HRSDC), Raphael Gomez (Toronto), Morley Gunderson (Toronto), Sterling Gunn (CPP Investment Board) Cliff Halliwell (HRSDC), Malcolm Hamilton (Mercer), Derek Hum (Manitoba), Laurence Kotlikoff (Boston University), Dave McLellan (Fidelity Investments), Kevin Milligan (UBC), John Myles (Toronto), Christine Neill (Wilfrid Laurier), Garnett Picot (Statistics Canada), Graham Pugh(OMERS), William Robson (C.D. Howe), Bill Scarth (McMaster), Tammy Schirle (Wilfrid Laurier), Wayne Simpson (Manitoba), Marcel Théroux (Mercer), Michael Veall (McMaster), Casey Warman (Queen’s), and Chris Worswick (Carleton).

Retirement Policy Issues in Canada $95 This on-coming wave of retirements will have major implications for the economic well-being of both the retirees—particularly since people are living longer after retirement—and the Canadian economy at large. In Retirement Policy Issues in Canada, contributors look at Canada’s changing retirement landscape in broad terms. Chapters cover such topics as the direction of pension regulation in Canada, Canadian retirement patterns, retirement income replacement rates, challenges and policy options for an aging workforce, retirement incentives in defined benefit public and private pensions in Canada, key design features of defined benefit and defined contribution pension plans, recent legal and regulatory changes in pension plan design in Canada, options for older workers following job loss, management of longevity risks, sustainability of the Canada Pension Plan, mandatory retirement and private plan incentives, and the retirement prospects of immigrants. Contributors include Robin Boadway (Queen’s), Stephen Bonnar (Towers Perrin), John Burbidge (Waterloo), Robert Clark (North Carolina State), Katherine Cuff (McMaster), Richard Disney (Nottingham), David Dodge (Bank of Canada), Peter Drake (Fidelity Investments), Rick Egelton (CPP Investment Board), Maxime Fougère, (HRSDC), Barbara Glover (HRSDC), Raphael Gomez (Toronto), Morley Gunderson (Toronto), Sterling Gunn (CPP Investment Board) Cliff Halliwell (HRSDC), Malcolm Hamilton (Mercer), Derek Hum (Manitoba), Laurence Kotlikoff (Boston University), Dave McLellan (Fidelity Investments), Kevin Milligan (UBC), John Myles (Toronto), Christine Neill (Wilfrid Laurier), Garnett Picot (Statistics Canada), Graham Pugh(OMERS), William Robson (C.D. Howe), Bill Scarth (McMaster), Tammy Schirle (Wilfrid Laurier), Wayne Simpson (Manitoba), Marcel Théroux (Mercer), Michael Veall (McMaster), Casey Warman (Queen’s), and Chris Worswick (Carleton).

Retirement Security and Defined Contribution Plans: Hearing Before the Committee on Ways and Means, House of Representatives $15.64 Used – OCLC Number: (OCoLC)50644535 Subject: Defined contribution pension plans — United States. Excerpt: … govern them to ensure we are maximizing retirement security while minimizing undue regulatory burdens that may discourage employers from offering these plans.’FOCUS OF THE HEARING: The hearing will examine the rules and regulations that currently govern private DC pension plans. Specific issues to be discussed include rules regarding diversification of plan assets, restrictions placed o

Retirement Security and Defined Contribution Plans: Hearing Before the Committee on Ways and Means, House of Representatives $20.54 Used – OCLC Number: (OCoLC)50644535 Subject: Defined contribution pension plans — United States. Excerpt: … govern them to ensure we are maximizing retirement security while minimizing undue regulatory burdens that may discourage employers from offering these plans.’FOCUS OF THE HEARING: The hearing will examine the rules and regulations that currently govern private DC pension plans. Specific issues to be discussed include rules regarding diversification of plan assets, restrictions placed o

Retirement Security and Defined Contribution Plans: Hearing Before the Committee on Ways and Means, House of Representatives $15.64 New – OCLC Number: (OCoLC)50644535 Subject: Defined contribution pension plans — United States. Excerpt: … govern them to ensure we are maximizing retirement security while minimizing undue regulatory burdens that may discourage employers from offering these plans.’FOCUS OF THE HEARING: The hearing will examine the rules and regulations that currently govern private DC pension plans. Specific issues to be discussed include rules regarding diversification of plan assets, restrictions placed on

Retirement Security and Defined Contribution Plans: Hearing Before the Committee on Ways and Means, House of Representatives $16.17 Used – OCLC Number: (OCoLC)50644535 Subject: Defined contribution pension plans — United States. Excerpt: … govern them to ensure we are maximizing retirement security while minimizing undue regulatory burdens that may discourage employers from offering these plans.’FOCUS OF THE HEARING: The hearing will examine the rules and regulations that currently govern private DC pension plans. Specific issues to be discussed include rules regarding diversification of plan assets, restrictions placed o

The Economics of Aging: Seventh Edition $134.41 Still the definitive book on the subject, this volume has been thoroughly revised to cover rapidly changing aspects of the economics of aging. It provides an in-depth examination of the nation’s evolving private and public policies on retirement, pension, and health, including, for instance, the dramatic changes in employer-sponsored pensions. New attention is given to the retirement of baby boomers and the financial situation of older women, many of whom still live in poverty. Other topics added to this edition include the proposed new way of measuring poverty, new economic implications of demographic aging, the concept of productive aging’, an update on reverse annuity mortgages, hybrid pension plans and pension privatization, and current information on Social Security. This highly readable book is essential for everyone concerned with gerontology. A thorough, rich, and current work, this book is the most comprehensive resource available for students, policymakers, researchers, human resource directors, and in short, all who have a personal or professional interest in the essential questions facing the growing aging population in the United States. It examines changes in retirement patterns, problems of older workers, and the complexity of retirement preparation, as well as pension plan health costs and all the programs affecting financial security.

The Future of Public Employee Retirement Systems $99 People covered by public pensions are often the subject of "pension envy": that is, their benefits might seem more generous and their contributions lower than those offered by the private sector. Yet this book points out that such judgments are often inaccurate, since civil servants hold jobs with few counterparts in private industry, such as firefighters, police, judges, and teachers. Often these are riskier, dirtier, and demand more loyalty and discretion than would be required of a more mobile labor force in the private sector. The debate challenges traditional ideas about how the public employee labor contract is structured and raises questions about how such employees are attracted to the public sector, retained and motivated on the job, and retired, via an entire compensation package of wages and benefits. Authors explore aspects of these schemes, addressing the cost and valuation debate, along with the political economy of how public pension asset pools are perceived and managed, an increasingly important topic in times of global financial turmoil. The discussion also explores ways that public pensions can be strengthened in the US, Japan, Canada, and Germany. The volume captures a vigorous debate currently underway by academics, financial experts, regulators, and plan sponsors, all seeking to define a new future for public retirement systems. It will be of substantial interest to a wide range of readers, since public sector employees and their representatives will naturally find the comparisons and arguments over valuation of keen interest. Public pension administrators and policymakers seeking an explanation of what makes these plans so costly will gain a new understanding of how the arguments stack up. Private sector employers and plan sponsors can learn much from efforts to reform these retirement systems in states and countries around the world. Finally, investors and the taxpaying public more generally may be at risk to cover these

The Future of Public Employee Retirement Systems $99 People covered by public pensions are often the subject of "pension envy": that is, their benefits might seem more generous and their contributions lower than those offered by the private sector. Yet this book points out that such judgments are often inaccurate, since civil servants hold jobs with few counterparts in private industry, such as firefighters, police, judges, and teachers. Often these are riskier, dirtier, and demand more loyalty and discretion than would be required of a more mobile labor force in the private sector. The debate challenges traditional ideas about how the public employee labor contract is structured and raises questions about how such employees are attracted to the public sector, retained and motivated on the job, and retired, via an entire compensation package of wages and benefits. Authors explore aspects of these schemes, addressing the cost and valuation debate, along with the political economy of how public pension asset pools are perceived and managed, an increasingly important topic in times of global financial turmoil. The discussion also explores ways that public pensions can be strengthened in the US, Japan, Canada, and Germany. The volume captures a vigorous debate currently underway by academics, financial experts, regulators, and plan sponsors, all seeking to define a new future for public retirement systems. It will be of substantial interest to a wide range of readers, since public sector employees and their representatives will naturally find the comparisons and arguments over valuation of keen interest. Public pension administrators and policymakers seeking an explanation of what makes these plans so costly will gain a new understanding of how the arguments stack up. Private sector employers and plan sponsors can learn much from efforts to reform these retirement systems in states and countries around the world. Finally, investors and the taxpaying public more generally may be at risk to cover these

The Gender Impact of Social Security Reform $30 As populations age and revenues diminish, government and private pension funds around the world are facing insolvency. The looming social security crisis is especially dire for women, who live longer than men but have worked less in the formal labor force. This groundbreaking study examines alternative social security systems and their disparate impacts on men and women. Emphasis is placed on the new multi-pillar systems that combine a publicly managed benefit and a mandatory private retirement saving plan.            The Gender Impact of Social Security Reform compares the gendered outcomes of social security systems in Chile, Argentina, and Mexico, and presents empirical findings from Eastern and Central European transition economies as well as several OECD countries. Women’s positions have improved relative to men in countries where joint pensions have been required, widows who have worked can keep the joint pension in addition to their own benefit, the public benefit has been targeted toward low earners, and women’s retirement age has been raised to equality with that of men. The Gender Impact of Social Security Reform will force economists and policy makers to reexamine the design features that enable social security systems to achieve desirable gender outcomes.  

The Uncertain Retirement $5.08 Used – Any sensible approach to pension funding will overcollateralize retirement promises from the moment they are made. This title shows how America went wrong in this area, and presents an efficient, cost-effective plan to put the private retirement system on the track toward a healthy future.

Understanding TIAA-CREF: How to Plan for a Secure and Comfortable Retirement $7.36 Used – Until now there has been little guidance for the millions of people who participate in TIAA-CREF, the largest private pension plan in the world. This definitive guide explains in simple terms and with a droll sense of humor the legal and financial complexities of the system.

Understanding TIAA-CREF: How to Plan for a Secure and Comfortable Retirement $20.76 New – Until now there has been little guidance for the millions of people who participate in TIAA-CREF, the largest private pension plan in the world. This definitive guide explains in simple terms and with a droll sense of humor the legal and financial complexities of the system.

Understanding TIAA-CREF: How to Plan for a Secure and Comfortable Retirement $37.63 Until now there has been little guidance for the millions of people who participate in TIAA-CREF, the largest private pension plan in the world. This definitive guide explains in simple terms and with a droll sense of humor the legal and financial complexities of the system.

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