Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/54273 
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dc.contributor.authorNersisyan, Yevaen
dc.contributor.authorWray, L. Randallen
dc.date.accessioned2011-12-01-
dc.date.accessioned2012-01-06T14:08:41Z-
dc.date.available2012-01-06T14:08:41Z-
dc.date.issued2010-
dc.identifier.isbn978-1-936192-05-2en
dc.identifier.urihttp://hdl.handle.net/10419/54273-
dc.description.abstractPension funds have taken a big hit during the current financial crisis, with losses in the trillions of dollars. In addition, both private and public pensions are experiencing significant funding shortfalls, as is the government-run Pension Benefit Guaranty Corporation, which insures the defined-benefit pension plans of private American companies. Yeva Nersisyan and Senior Scholar L. Randall Wray argue that the employment-based pension system is highly problematic, since the strategy for managing pension funds leads to excessive cost and risk in an effort to achieve above-average returns. The average fund manager, however, will only achieve the risk-free return. The authors therefore advocate expanding Social Security and encouraging private and public pensions to invest only in safe (risk-free) Treasury bonds - which, on average, will beat the net returns on risky assets.en
dc.language.isoengen
dc.publisher|aLevy Economics Institute of Bard College |cAnnandale-on-Hudson, NYen
dc.relation.ispartofseries|aPublic Policy Brief |x109en
dc.subject.ddc330en
dc.subject.stwRentenfinanzierungen
dc.subject.stwPensionskasseen
dc.subject.stwBankenaufsichten
dc.subject.stwGläubigerschutzen
dc.subject.stwUSAen
dc.titleThe trouble with pensions: Toward an alternative public policy to support retirement-
dc.typeResearch Reporten
dc.identifier.ppn631373071en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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