After 2000, the vast majority of defined benefit (DB) pension plans encountered a decrease in their funding ratios, largely due to a drop in asset prices. It is possible that public sector pension plans may have acted imprudently by chasing returns, once they encountered underfunding. We identify four indicators for DB plans’ imprudent investment behavior: no portfolio rebalancing, employer con...

Demographic changes increase the necessity to base pension system more and on second third pillars, namely occupational private plans; this paper deals with Target Date Funds (TDFs), which are a typical investment opportunity for planners. TDFs usually identified decreasing fraction of wealth invested in equity (a so-called glide path) as retirement comes closer, i.e. is riskily younger saver i...

from ancient times, governments have laid emphasis – albeit with varying degrees – on large-scale plans and their impact on society and have thus resorted to them. the iranian government is of course no exception; both before and after the 1979 revolution, the different administrations of the country maintained that employing large-scale plans was fruitful and applied them accordingly. although...