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Full Description
Financial market developments over the past decade have undermined what was once thought to be conventional wisdom about saving, investment, and retirement spending. How Persistent Low Returns Will Shape Saving and Retirement explores how the weak capital market performance predicted for the next several years will shape pension saving, investment, and decumulation plans. Academics, policymakers, and industry leaders debate alternative strategies to cope with these challenges globally, as economic growth remains slow and low returns become the 'new normal.'
This volume includes contributions from plan sponsors, benefit specialists, actuaries, academics, regulators, and others working to design resilient pensions for the next decades. Together, they identify several new tools for retirement savers and pension managers.
Contents
1: Robert Clark, Raimond Maurer, and Olivia S. Mitchell: Introduction and Overview
Part I: Origins and Consequences of a Persistent Low Return Environment
2: Peter Conti-Brown: Politics, Independence, and Retirees: Long-term Low Interest Rates at the US Federal Reserve
3: David Blanchett, Michael Finke, and Wade Pfau: Low Returns and Optimal Retirement Savings
4: Daniel B. Berkowitz, Andrew S. Clarke, Kevin J. DiCiurcio, Kimberly A. Stockton, and Daniel W. Wallick: Getting More from Less in Defined Benefit Plans: Three Levers for a Low-Return World
5: Alistair Byrne and Catherine Reilly: Investing for Retirement in a Low Returns Environment: Making the Right Decisions to Make the Money Last
6: Antti Ilmanen and Matthew Rauseo: Intelligent Risk Taking: How to Secure Retirement in a Low Expected Return World
Part II: Whither Retirement Strategies?
7: Kevin E. Cahill and Joseph F. Quinn: Challenges and Opportunities for Living and Working Longer
8: Vanya Horneff, Raimond Maurer, and Olivia S. Mitchell: How Persistent Low Expected Returns Alter Optimal Life Cycle Saving, Investment, and Retirement Behavior
9: Jason J. Fichtner and Jason S. Seligman: Retirement Saving and Decumulation in a Persistent Low-Return Environment
Part III: New Designs for Pension Plan Sponsors
10: Yvonne Sonsino: Helping Employers Become Age-Ready
11: William G. Gale and David C. John: State Sponsored Retirement Savings Plans: New Approaches to Boost Retirement Plan Coverage
12: Jonathan Gardner, Natalia Garabato, and Steve Nyce: Global Developments in Employee Benefits