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https://hdl.handle.net/10419/54273
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Nersisyan, Yeva | en |
dc.contributor.author | Wray, L. Randall | en |
dc.date.accessioned | 2011-12-01 | - |
dc.date.accessioned | 2012-01-06T14:08:41Z | - |
dc.date.available | 2012-01-06T14:08:41Z | - |
dc.date.issued | 2010 | - |
dc.identifier.isbn | 978-1-936192-05-2 | en |
dc.identifier.uri | http://hdl.handle.net/10419/54273 | - |
dc.description.abstract | Pension 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.iso | eng | en |
dc.publisher | |aLevy Economics Institute of Bard College |cAnnandale-on-Hudson, NY | en |
dc.relation.ispartofseries | |aPublic Policy Brief |x109 | en |
dc.subject.ddc | 330 | en |
dc.subject.stw | Rentenfinanzierung | en |
dc.subject.stw | Pensionskasse | en |
dc.subject.stw | Bankenaufsicht | en |
dc.subject.stw | Gläubigerschutz | en |
dc.subject.stw | USA | en |
dc.title | The trouble with pensions: Toward an alternative public policy to support retirement | - |
dc.type | Research Report | en |
dc.identifier.ppn | 631373071 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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