Managing Pension and Retirement Plans A Guide for Employers, Administrators, and Other Fiduciaries

by ; ;
Format: Hardcover
Pub. Date: 2004-10-28
Publisher(s): Oxford University Press
List Price: $239.99

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Summary

As the U.S. Population ages, retirement is becoming an increasingly important life stage. Pension and retirement plans are crucial to the financial well-being of older citizens and key determinants of their standard of living. Many varieties of pension plans are currently offered, andemployers have an interest in these plans because a good pension plan can help an employer attract, retain, and motivate a competent workforce. In some cases, the employer's financial health can depend significantly on the financial health of its pension plan. When employers make decisionsregarding pension and retirement plans, they are making decisions that have high stakes for both their employees and the employer itself. Poor decisions can lead to intense scrutiny, sometimes by the media or in the courtroom. Good pension decision making can provide a secure future for theemployer and its employees. Managing Pension and Retirement Plans: A Guide for Employers, Administrators and Other Fiduciaries covers the essential financial issues surrounding pension plans. It discusses investment policy and strategy, performance measurement, fiduciary responsibilities, and labor market issues, among othertopics. Anyone responsible for any aspect of pension plan management will profit from reading this book.

Table of Contents

PART I Fundamentals
1 An Introduction to Pension Plans
3(6)
2 What Pension Plans Do
9(6)
3 Designing the Best Pension Plan
15(11)
4 The Prudent Pension Fiduciary: A Pragmatic View
26(15)
5 An Overview of Compliance for Pension Plans
41(8)
6 Establishing Pension Investment Policy
49(10)
7 The Asset Allocation Decision
59(12)
PART II Defined Benefit Plans
8 The Integrated Approach to Managing Defined Benefit Plans
71(14)
9 Asset Allocation for Defined Benefit Plans
85(27)
10 Accounting for Defined Benefit Plans
112(19)
PART III Defined Contribution and Hybrid Plans
11 Investment Policy and Asset Allocation for Defined Contribution Plans
131(14)
12 Employee Stock Ownership Plans and Company Stock
145(6)
13 Hybrid Plans
151(10)
PART IV Measuring, Evaluating, and Improving Investment Performance
14 Evaluating Investment Performance
161(19)
15 Improving Pension Fund Investment Performance
180(14)
16 Managing Pension Fund Risk
194(19)
17 Risk Management Strategies Using Derivative Securities
213(24)
PART V Management Issues: Decisions, Strategies, and People
18 Selecting and Managing Asset Managers
237(11)
19 Managing Costs
248(8)
20 People and the Psychology of Pension Fund Decisions
256(11)
21 The Pension Plan as Shareholder
267(11)
22 The Path to Better Pension Plan Management
278(11)
Appendix A A Guide for the Prudent Fiduciary 289(2)
Appendix B Global Investing for Pension Funds 291(5)
Appendix C Example of a Multiemployer Hybrid Pension Plan 296(1)
Appendix D Measuring Returns 297(8)
Appendix E Adjusting for Risk 305(2)
Appendix F An Example of an Equity Swap Hedge 307(2)
Appendix G Manager Selection 309(6)
Notes 315(10)
Works Cited 325(12)
Index 337

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