To ensure the success of a pension plan under self-contained defined contribution (DC) retirement plan, inclusion foreign assets in local portfolio could be beneficial for risk diversification and efficient improvement fund’s investment performance during its accumulation phase. This study focuses on developing international asset allocation criteria DC plan; accordingly, we consider exposure r...

Only recently have social insurance and private pensions, collectively, come to be thought of in terms of a total social security benefit package. The economic problems brought on by the 1974 oil crisis initially triggered consideration of a common, integrated role for the two systems. The second oil crisis reinforced the relative expansion in private pension programs, as a supplement to social...

Rising costs of public employee pension plans have caused fiscal stress in many cities and states and led to calls for reform. To assess the economic consequences of plan changes it is important to have reliable statistical models of employee retirement behavior. The authors estimate a structural model of teacher retirement using Missouri administrative panel data. A Stock-Wise option value mod...

Most defined contribution (DC) pension plans give their members a degree of choice over the investment strategy for their contributions. Many plans also offer a ‘default’ fund for members unable or unwilling to choose their own investment strategy. We analyse the range of default funds offered by UK ‘stakeholder’ DC plans, which by law must offer a default fund. We find the default funds are ty...