articles 31 to 40 of 55
Changing demographics, the high cost of pension benefits, and workers’ continued failure to save enough for old age are all driving changes in the nation’s retirement prospects, according to speakers at a recent Wharton Impact Conference titled “Reinventing the Retirement Paradigm.” In the first of two articles, Knowledge@Wharton covers discussion by conference participants of policy issues ranging from pension fund management to accounting reform to transparency. The second article, to appear in the next issue, will address trends in demographics and workers’ expectations.
From: June 02, 2004
The role of government in supplementing the private insurance industry and the industry’s response to terrorism were recurrent themes at the seventh annual conference of Wharton’s Financial Institutions Center and the Brookings Institution held earlier this month in Washington, D.C. The conference, titled “Public Policy Issues Confronting the Insurance Industry,” included discussion of such topics as mergers and acquisitions in the European insurance industry, insurers’ and legislators' response to the Sept. 11, 2001, terrorist attacks, Medicare prescription drug benefits and medical malpractice insurance.
From: January 28, 2004
Most people generally understand that the sooner they begin planning for retirement the better. Putting money aside now rather than later means that you will have more assets in the long run. What many people don’t know, however, is the amount of money they will need to live on in their golden years. Experts at Wharton examine the reasons why people don’t save enough for retirement, and what strategies are available to change that.
From: August 27, 2003
In recent years, the format of Americans’ pension plans has changed as more companies move to a defined contribution model that places more responsibility on the shoulders of the employees. But even as it becomes more important for workers to prepare for retirement, surveys and other data indicate that many plan participants confess to having little or no understanding of these vital tools. Worse, because of the complex nature of 401(k)s and other plans, employee contributions tend to be far lower than they should. These and other issues were explored during a recent Wharton Pension Research Council conference titled “Decision-Making under Uncertainty: Implications for Pensions.”
From: May 21, 2003
Nearly two years after the September 11 terrorist attacks, businesses continue to wrestle with the issue of whether to buy terrorism insurance. Confronted with high premiums and their own skepticism about whether such coverage is necessary, many managers are deciding against it. At a conference sponsored by the Wharton Risk Management and Decision Processes Center on April 28, insurers, reinsurers, academics and modelers discussed the risks of terrorism and other ‘extreme events.’
From: May 07, 2003
In 1985, the Financial Accounting Standards Board (FASB) looked at defined-benefit pension accounting issues and noted: “Measuring cost and reporting liabilities resulting from defined benefit pension plans have been sources of accounting controversy for many years.” Now, nearly two decades later, they’re still controversial as companies like General Motors Corp., IBM and others rack up billions of dollars in under-funded defined benefit pension plan liabilities. Some Wharton faculty and other experts are asking whether FASB rules as well as the Internal Revenue Code itself may have played a significant part in the strife.
From: February 12, 2003
China and the U.S. social security system seem to be worlds apart. China is grappling with the problems of rapid industrialization with a young and vigorous population, while the U.S. is struggling with an aging population that will push current Social Security and Medicare systems to insolvency. But looks are deceiving. Wharton finance professor Jeremy J. Siegel argues that the economic growth of China and other developing countries is the only solution to the developed world’s looming pension crisis.
From: January 29, 2003
Like other nations, countries in Latin America are attempting to make their retirement systems more efficient and responsive to citizens’ needs. This is difficult in the best of times. But it is more problematic when countries have to deal with economic crises involving high inflation, slow growth, defaults on debt payments and currency devaluations – all of which have afflicted Latin America in recent years. In an interview with Knowledge@Wharton, professor Olivia S. Mitchell, head of Wharton’s Pension Research Council and one of the world’s leading experts on retirement plans, discusses the challenges facing retirement systems in Latin America.
From: January 15, 2003
When Enron collapsed a year ago, thousands of employees’ retirement savings were wiped out, sparking quick calls for reform of 401(k) plans. Some changes were put in place earlier this year, others are still being debated in Congress. But now that the smoke of corporate scandals has begun to clear, do problems with 401(k)s still appear as bad as they did last winter? Should the system be left alone, merely tweaked, or overhauled?
From: November 20, 2002
The rapid aging of the world's industrialized nations poses problems for consumer and capital markets, including the risk that individual and government retirement plans will come up short over the next two decades. But the retirement boom will also have implications for the developing world. The global aging problem and the prospect for globally-based solutions were outlined several weeks ago during a conference sponsored by Wharton’s Pension Research Council and The Financial Institutions Center.
From: June 05, 2002
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