CDHA CAAR

December 11, 2013

CAAR – C.D. Howe Institute [Toronto, Ontario, Canada] Commentary – December 11, 2013

Filed under: Reports and Articles — Tags: , — admin @ 4:05 pm

Long-Term Returns: A Reality Check for Pension Funds and Retirement Savings,” by Richard Guay and Laurence Allaire (Commentary No. 395, December 2013, .pdf format, 21p.).

www.cdhowe.org/long-term-returns-a-reality-check-for-pension-funds-and-retirement-savings/23785

December 10, 2013

CAAR – UK Office for National Statistics Statistical Bulletin, Report – December 10, 2013

Filed under: Reports and Articles — Tags: , , — admin @ 4:27 pm

A. Pension Trends has added a new chapter: Chapter 5 “State Pensions,” (December 2013, .pdf and HTML format, 24p.).

www.ons.gov.uk/ons/rel/pensions/pension-trends/chapter-5–state-pensions–2013-edition/art-ptch5-2013.html

B. “What does the 2011 Census tell us about the “oldest old” living in England & Wales?” (December 2013, .pdf and HTML format, 44p.).

www.ons.gov.uk/ons/rel/mortality-ageing/characteristics-of-older-people/what-does-the-2011-census-tell-us-about-the-oldest-old-living-in-england-and-wales-/characteristics-of-the–oldest-old–from-the-2011-census.html

December 9, 2013

CAAR – US Bureau of Economic Analysis Working Papers – December 9, 2013

Filed under: Reports and Articles — Tags: , — admin @ 4:17 pm

A. “Calculating Disease-Based Medical Care Expenditure Indexes for Medicare Beneficiaries: A Comparison of Method and Data Choices,” by Anne E. Hall and Tina Highfill (WP2013-15, November 2013, .pdf format, 23p.).

Abstract:

Disease-based medical care expenditure indexes are currently of interest to measurement economists and have been the subject of several recent papers. These papers, however, produced widely different results for medical care inflation and also varied in the datasets and methods used, making it difficult to compare them. In this paper, using two data sources and two different methods for calculating expenditure indexes for the Medicare population, we compare the indexes produced and establish some results that will help guide policymakers in choosing indexes for this population. First, we find that the two methods we examine (primary diagnosis and a regression-based method) produce the same results for the aggregate index and have a moderate level of agreement in which diseases contribute the most to growth in per capita health-care spending. Since the primary diagnosis method is preferable because of its greater transparency, this result implies that we may use the regression-based method when the data is not suitable for the primary diagnosis method without too great a loss of accuracy. Second, we find that the two data sources, the Medicare Current Beneficiary Survey and the Medical Expenditure Panel Survey, produce very similar results in the aggregate but there is some evidence that they treat chronic illnesses differently. As the MCBS has a larger sample and more comprehensive coverage of Medicare beneficiaries than the MEPS, it seems that a regression-based expenditure index based on the MCBS is overall preferable for fee-for-service Medicare beneficiaries. We discuss further avenues for research, such as comparing our results with indexes created with commercial groupers, and what data to use for Medicare private plan enrollees.

www.bea.gov/papers/pdf/calculating_disease_based_medical_care_expenditure_indexes_for.pdf

B. “State and Local Government Defined Benefit Pension Plans: Estimates of Liabilities and Employer Normal Costs by State, 2000-2011,” by David G. Lenze (WP2013-16, December 2013, .pdf format, 20p.).

Abstract:

In the 2013 comprehensive revision of the National Income and Product Accounts, BEA introduced a new accrual treatment of defined benefit pension plans based on actuarial estimates of liabilities and normal costs. Accrual accounting is the preferred method for compiling national accounts because it matches incomes earned from production with the corresponding output and records both in the same period. The recording of pension plan transactions on an accrual basis better aligns pension-related compensation with the timing of when employees earn the future retirement benefits. This paper describes the methodology for estimating defined benefit pension liabilities and normal costs for state and local governments and presents estimates by state for 2000-2011.

www.bea.gov/papers/pdf/State-and-Local-Government-Defined-Benefit-Pension-Plans.pdf

Additional tables (Excel format):

www.bea.gov/papers/xls/Pension-Estimates-by-State.xlsx

December 5, 2013

CAAR – Poland Central Statistical Office Report – December 5, 2013

Filed under: Reports and Articles — Tags: — admin @ 3:48 pm

Retirement pay and pensions in 2012,” (December 2013, .pdf format, 90p.).

www.stat.gov.pl/gus/5840_11116_ENG_HTML.htm

December 4, 2013

CAAR – UK Department of Work and Pensions Report – December 4, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:00 pm

Pensions Bill 2013-2014 Keeling versions,” (December 2013, .pdf format, 107p.).

www.gov.uk/government/publications/pensions-bill-2013-2014-keeling-versions

December 2, 2013

CAAR – UK Department of Work and Pensions Report – December 2, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:34 pm

Automatic Enrolment Evaluation Report 2013,” (Research Report No. 854, November 2013, .pdf format, 114p.).

www.gov.uk/government/publications/automatic-enrolment-evaluation-report-2013

November 26, 2013

CAAR – Organization for Economic Co-operation and Development Report – November 26, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:23 pm

Pensions at a Glance 2013: Retirement-Income Systems in OECD and G20 Countries,” (November 2013, .pdf format, 368p.). Note: A free preview (HTML) and County profiles (.pdf) are available at the site, as well as links to order the complete report.

www.oecd.org/pensions/pensionsataglance.htm

CAAR – UK Parliamentary Library Standard Note – November 26, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:20 pm

Sources of social statistics: social security and pensions,” by Roderick McInnes (SN03851, November 2013, .pdf format, 5p.).

www.parliament.uk/briefing-papers/SN03851/sources-of-social-statistics-social-security-and-pensions

November 25, 2013

CAAR – US Social Security Administration, Research, Statistics, and Policy Analysis Report, Periodicals – November 25, 2013

Filed under: Reports and Articles — Tags: , , , — admin @ 4:27 pm

A. “Annual Statistical Report on the Social Security Disability Insurance Program, 2012,” (November 2013, .pdf and Excel format, 182p.).

www.ssa.gov/policy/docs/statcomps/di_asr/2012/index.html

B. International Update, November 2013 (November 2013, .pdf format, 3p.).

www.ssa.gov/policy/docs/progdesc/intl_update/2013-11/index.html

C. SSI Monthly Statistics, October 2013 (November 2013, .pdf and HTML format).

www.ssa.gov/policy/docs/statcomps/ssi_monthly/2013-10/index.html

November 22, 2013

CAAR – Australian Productivity Commission Report – November 22, 2013

Filed under: Reports and Articles — Tags: , , — admin @ 5:10 pm

An Ageing Australia: Preparing for the Future,” (November 2013, .pdf and zipped Word format, 329p.).

www.pc.gov.au/research/commission/ageing-australia

CAAR – Institute for the Study of Labor (IZA) [University of Bonn, Germany] Working Paper – November 22, 2013

Filed under: Working Papers — Tags: — admin @ 5:07 pm

The Side Effect of Pension Reforms on Training: Evidence from Italy,” by Giorgio Brunello and Simona Comi (Discussion Paper No. 7755, November 2013, .pdf format, p.). Note: Links to the abstract and full-text can be found at:

www.iza.org/en/webcontent/publications/papers/viewAbstract?dp_id=7755

November 19, 2013

CAAR – Pension Benefit Guaranty Corporation Report – November 19, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:14 pm

Helping Secure Retirements: PBGC Annual Report 2013,” (November 2013, .pdf format, 124p.).

www.pbgc.gov/documents/2013-annual-report.pdf

CAAR – Federal Reserve Board Finance and Economic Working Paper – November 19, 2013

Filed under: Working Papers — Tags: — admin @ 4:10 pm

Cost Shifting and the Freezing of Corporate Pension Plans,” by Joshua Rauh, Irina Stefanescu, and Stephen Zeldes (2013-82, November 2013, .pdf format, 53p.). Note: Links to the abstract and full-text can be found at:

www.federalreserve.gov/pubs/feds/2013/201382/201382abs.html

November 11, 2013

CAAR – University of Michigan Retirement Research Center Working Papers – November 11, 2013

Filed under: Working Papers — Tags: , — admin @ 4:21 pm

A. “Technological Progress and the Earnings of Older Workers,” by Yuriy Gorodnichenko, John P. Laitner, Jae Song and Dmitriy Stolyarov (WP 2013-280, October 2013, .pdf format, 18p.). Note: Links to the abstract and full-text can be found at:

www.mrrc.isr.umich.edu/publications/index_abstract.cfm?ptid=1&pid=936

B. “Technical Review Panel for the Pension Insurance Modeling System (PIMS),” by Olivia S. Mitchell, Christopher C. Geczy, Robert Novy-Marx, Raimond H. Maurer, Donald E. Fuerst, Christopher M. Bone, Donald J. Segal, Martin G. Clarke, Frank J. Fabozzi, Deborah Lucas, and David F. Babbel (WP 2013-290, November 2013, .pdf format, 264p.). Links to an abstract and full text are available at:

www.mrrc.isr.umich.edu/publications/index_abstract.cfm?ptid=1&pid=914

November 8, 2013

CAAR – Boston College Center for Retirement Research Funding Opportunity – Nov. 8, 2013

Filed under: Employment/Funding Opportunities — Tags: , , , — admin @ 2:27 pm

“Steven H. Sandell Grant Program” (deadline for applications is Feb. 14, 2014). For more informmation see:

crr.bc.edu/about-us/grant-programs/steven-h-sandell-grant-program-2/

November 7, 2013

CAAR – Organization for Economic Co-operation and Development Report – November 7, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:08 pm

Pension Markets in Focus, 2013,” (November 2013, .pdf and Excel format, 61p.).

www.oecd.org/daf/fin/private-pensions/pensionmarketsinfocus.htm

CAAR – UK Parliamentary Library Research Notes – November 7, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:07 pm

Civil service pensions – current reforms,” by Djuna Thurley (SN06744, November 2013, .pdf format, 28p.).

www.parliament.uk/briefing-papers/SN06744/civil-service-pensions-current-reforms

November 6, 2013

CAAR – Boston College Center for Retirement Research Issue Brief – November 6, 2013

Filed under: Reports and Articles — Tags: — admin @ 11:45 am

A. “Gauging the Burden of Public Pensions on Cities,” by Alicia H. Munnell, Jean-Pierre Aubry, Josh Hurwitz and Mark Cafarelli (SLP#35, November 2013, .pdf format, 14p.).

crr.bc.edu/briefs/gauging-the-burden-of-public-pensions-on-cities/

B. “Social Security’s Real Retirement Age Is 70,” by Alicia H. Munnell (IB No. 13-15, November 2013, .pdf format, 9p.).

crr.bc.edu/briefs/social-security%e2%80%99s-real-retirement-age-is-70/

November 5, 2013

CAAR – US Government Accountability Office Report – November 5, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:28 pm

Private Pensions: Revised Electronic Disclosure Rules Could Clarify Use and Better Protect Participant Choice,” (GAO-13-594, September 2013, .pdf format, 46p.).

www.gao.gov/products/GAO-13-594

November 4, 2013

CAAR – US Social Security Administration, Research, Statistics, and Policy Analysis Periodicals – November 4, 2013

Filed under: Reports and Articles — Tags: , — admin @ 4:31 pm

A. International Update, October 2013 (October 2013, .pdf format, 3p.).

www.ssa.gov/policy/docs/progdesc/intl_update/2013-10/index.html

B. SSI Monthly Statistics, September 2013 (September 2013, .pdf and HTML format).

www.ssa.gov/policy/docs/statcomps/ssi_monthly/2013-09/index.html

November 1, 2013

CAAR – US House Committee on Education and the Workforce, Subcommittee on Health, Employment, Labor, and Pensions Hearing Testimony – November 1, 2013

Filed under: Legislation Information Updates — Tags: — admin @ 4:29 pm

Strengthening the Multiemployer Pension System: How Will Proposed Reforms Affect Employers, Workers, and Retirees?” a hearing held October 29, 2013 (witness statements available in .pdf format, full hearing available in Flash format, running time 1 hour 41 seconds).

edworkforce.house.gov/calendar/eventsingle.aspx?EventID=356015

October 31, 2013

CAAR – UK Department of Work and Pension Reports – October 31, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:38 pm

A. “Pensions Bill impact assessments,” (October 2013, .pdf format). Note: This page contains a collection of reports on the impact of the Pensions Bill.

www.gov.uk/government/publications/pensions-bill-impact-assessments-october-2013

B. “Automatic enrolment: Qualitative research with large employers,” (Research Report No. 851, October 2013, .pdf format, 136p.).

www.gov.uk/government/publications/automatic-enrolment-qualitative-research-with-large-employers-rr851

October 28, 2013

CAAR – UK Parliamentary Library Standard Note – October 28, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:25 pm

Civil service pensions – reforms to 2010,” by Djuna Thurley (SN03224, October 2013, .pdf format, 25p.).

www.parliament.uk/briefing-papers/SN03224/civil-service-pensions-reforms-to-2010

October 25, 2013

CAAR – National Bureau of Economics Research Working Papers – October 25, 2013

Filed under: Working Papers — Tags: , , , — admin @ 4:54 pm

A. “The Role of Retiree Health Insurance in the Early Retirement of Public Sector Employees,” by John B. Shoven and Sita Slavov (w19563, October 2013, .pdf format, 26p.).

Most private sector workers with employer-provided health insurance have a strong incentive to continue working until Medicare eligibility in order to maintain group health coverage. However, most government employees have access to retiree health coverage, which allows them access to group health coverage even if they retire before Medicare eligibility. We study the impact of retiree health coverage on the probability of stopping work among public sector workers between the ages of 55 and 64. We find that, for state and local government employees, retiree health coverage raises the probability of stopping work by 5.1 percentage points (around 28 percent) between ages 60 and 64. However, we find no evidence that retiree health coverage influences state and local employees’ decisions to stop work at ages 55-59, or that such coverage has an effect on the probability of stopping work for federal and military employees.

www.nber.org/papers/w19563

B. “Defined Contribution Pension Plans: Sticky or Discerning Money?” by Clemens Sialm, Laura Starks, and Hanjiang Zhang (w19569, October 2013, .pdf format, 53p.).

Abstract:

Participants in defined contribution (DC) retirement plans rarely adjust their portfolio allocations, suggesting that their investment choices and consequent money flows are sticky and not discerning. Yet, the participants’ inertia could be offset by the DC plan sponsors, who adjust the plan’s investment options. We examine these countervailing influences on flows into U.S. mutual funds. We find that flows into funds that derive from DC assets are more volatile and exhibit more performance sensitivity than non-DC flows, primarily due to the adjustments of the investment options by the plan sponsors. Thus, DC retirement money is less sticky and more discerning.

www.nber.org/papers/w19569

C. “How Family Status and Social Security Claiming Options Shape Optimal Life Cycle Portfolios,” by Andreas Hubener, Raimond Maurer, and Olivia S. Mitchell (w19583, October 2013, .pdf format, 46p.).

Abstract:

Household decisions are profoundly shaped by a complex set of financial options due to Social Security rules determining retirement, spousal, and survivor benefits, along with benefit adjustments that vary with the age at which these are claimed. These rules influence optimal household asset allocation, insurance, and work decisions, given life cycle demographic shocks such as marriage, divorce, and children. Our model generates a wealth profile and a low and stable equity fraction consistent with empirical evidence. We also confirm predictions that wives will claim retirement benefits earlier than husbands, while life insurance is mainly purchased by younger men. Our policy simulations imply that eliminating survivor benefits would sharply reduce claiming differences by sex while dramatically increasing men’s life insurance purchases.

www.nber.org/papers/w19583

D. “Who Pays for Public Employee Health Costs?” by Jeffrey Clemens and David M. Cutler (w19582, October 2013, .pdf format, 57p.).

Abstract:

We analyze the incidence of public-employee health benefits. Because these benefits are negotiated through the political process, relevant labor market institutions deviate significantly from the competitive, private-sector benchmark. Empirically, we find that roughly 15 percent of the cost of recent benefit growth was passed onto school district employees through reductions in wages and salaries. Strong teachers’ unions were associated with relatively strong linkages between benefit growth and growth in total compensation. We further find that when economic conditions are poor, straining public budgets, benefit growth is more readily shifted back to public employees. Our analysis is consistent with the view that the costs of public workers’ benefits are difficult to monitor, contributing to benefit oriented, and often under-funded, compensation schemes.

www.nber.org/papers/w19574

October 23, 2013

CAAR – UK Department of Work and Pensions Briefing Paper – October 23, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:20 pm

Government Amendments to the Pensions Bill 2013,” (October 2013, .pdf format, 4p.).

www.gov.uk/government/publications/government-amendments-to-the-pensions-bill-2013-briefing-paper

October 18, 2013

CAAR – Pension Research Council, Wharton School, University of Pennsylvania Working Paper – October 18, 2013

Filed under: Working Papers — Tags: — admin @ 4:43 pm

Note: PRC requires free registration before providing working paper. “Contagious Runs in Money Market Funds and the Impact of a Government Guarantee,” by Hugh Hoikwang Kim (WP2013-31, October 2013, .pdf format, 58p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1162

October 17, 2013

CAAR – UK Parliamentary Library Standard Note – October 17, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:45 pm

TUPE and Pensions,” by Djuna Thurley (SN01665, October 2013, .pdf format, 32p.).

www.parliament.uk/briefing-papers/SN01665/tupe-and-pensions

October 15, 2013

CAAR – Proceedings of the National Academy of Sciences Article Abstracts – October 15, 2013

A. “Like cognitive function, decision making across the life span shows profound age-related changes,” by Agnieszka Tymula, Lior A. Rosenberg Belmaker, Lital Ruderman, Paul W. Glimcher, and Ifat Levy (Vol. 110, No. 42, October 15, 2013, p. 17143-17148).

www.pnas.org/content/110/42/17143.abstract

B. “Deficits in dopaminergic transmission precede neuron loss and dysfunction in a new Parkinson model,” by Stephanie Janezic, Sarah Threlfell, Paul D. Dodson, Megan J. Dowie, Tonya N. Taylor, Dawid Potgieter, Laura Parkkinen, Steven L. Senior, Sabina Anwar, Brent Ryan, Thierry Deltheil, Polina Kosillo, Milena Cioroch, Katharina Wagner, Olaf Ansorge, David M. Bannerman, J. Paul Bolam, Peter J. Magill, Stephanie J. Cragg, and Richard Wade-Martins (Vol. 110, No. 42, October 15, 2013, p. E4016-E4025).

www.pnas.org/content/110/42/E4016.abstract

C. “Adaptor complex AP2/PICALM, through interaction with LC3, targets Alzheimer’s APP-CTF for terminal degradation via autophagy,” by Yuan Tian, Jerry C. Chang, Emily Y. Fan, Marc Flajolet, and Paul Greengard (Vol. 110, No. 42, October 15, 2013, p. 17071-17076).

www.pnas.org/content/110/42/17071.abstract

October 11, 2013

CAAR – UK Department of Work and Pensions Report – October 11, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:41 pm

Workplace pensions: proposed technical changes to auto enrolment: government response,” (October 2013, .pdf format, 42p.).

www.gov.uk/government/consultations/workplace-pensions-proposed-technical-changes-to-automatic-enrolment

October 8, 2013

CAAR – Center for Retirement Research at Boston College Issue Briefs – October 8, 2013

Filed under: Reports and Articles — Tags: , — admin @ 4:33 pm

A. “How Does 401(k) Auto-Enrollment Relate to the Employer Match and Total Compensation?” by Barbara A. Butrica and Nadia S. Karamcheva (IB No. 13-14, October 2013, .pdf format, 7p.).

crr.bc.edu/briefs/how-does-401k-auto-enrollment-relate-to-the-employer-match-and-total-compensation/

B. “How Sensitive Is Public Pension Funding to Investment Returns?” by Alicia H. Munnell, Jean-Pierre Aubry and Josh Hurwitz (SLP No. 34, September 2013, .pdf format, 10p.).

crr.bc.edu/briefs/how-sensitive-is-public-pension-funding-to-investment-returns/

October 7, 2013

CAAR – Pension Research Council, Wharton School, University of Pennsylvania Working Papers – October 7, 2013

Filed under: Working Papers — Tags: , , — admin @ 4:38 pm

Note: PRC requires free registration before providing working paper.

A. “The Funding Debate: Optimizing Pension Risk within a Corporate Risk Budget,” by Geoff Bauer, Gordon Fletcher, Julien Halfon, and Stacy Scapino (WP2013-30, October 2013, .pdf format, 30p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1161

B. “Extreme Risks and the Retirement Anomaly,” by Tim Hodgson (WP2013-28, October 2013, .pdf format, 51p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1159

C. “Developments in European Pension Regulation: Risks and Challenges,” by Stefan Lundberg, Ruben Laros, and Laura Rebel (WP2013-27, October 2013, .pdf format, 43p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1158

D. “Evolving Roles for Pension Regulations: Toward Better Risk Control,” by E. Philip Davis (WP2013-26, October 2013, .pdf format, 36p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1157

E. “Stress Testing Monte Carlo Assumptions,” by Marlena I. Lee (WP2013-25, October 2013, .pdf format, 14p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1156

F. “Implications for Long-term Investor of the Shifting Distribution of Capital Market Returns,” by James Moore and Niels Pedersen (WP2013-24, October 2013, .pdf format, 45p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1155

G. “Managing Capital Market Risk for Retirement,” by Enrico Biffis and Robert Kosowski (WP2013-23, October 2013, .pdf format, 36p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1154

H. “The Securitization of Longevity Risk and its Implications for Retirement Security,” by Richard D. MacMinn, Patrick Brockett, Jennifer Wang, Ruilin Tian, and Yijia Lin (WP2013-22, October 2013, .pdf format, 43p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1153

I. “Model Risk, Mortality Heterogeneity, and Implications for Solvency and Tail Risk,” by Michael Sherris and Qiming Zhou (WP2013-21, October 2013, .pdf format, 40p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1152

J. “Longevity Risk Management, Corporate Finance, and Sustainable Pensions,” by Guy Coughlan (WP2013-20, October 2013, .pdf format, 41p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1151

K. “Modeling and Management of Longevity Risk,” by Andrew J. G. Cairns (WP2013-19, October 2013, .pdf format, 32p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1150

October 4, 2013

CAAR – Pension Research Council, Wharton School, University of Pennsylvania Working Paper – October 4, 2013

Filed under: Working Papers — Tags: , — admin @ 4:27 pm

Note: PRC requires free registration before providing working paper. “Recreating Retirement Sustainability,” by Olivia S. Mitchell and Raimond Maurer (WP2013-18, October 2013, .pdf format, 9p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1149

September 30, 2013

CAAR – Scottish Government/Riaghaltas na h-Alba Report – September 30, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:34 pm

Pensions in an Independent Scotland,” (September 2013, .pdf and HTML format, 109p.).

www.scotland.gov.uk/Publications/2013/09/3492

CAAR – Tables of Contents – September 30, 2013

Filed under: Journal Table of Contents — Tags: , — admin @ 4:24 pm

Medical Care Research and Review (Vol. 70, No. 5, October 2013).

mcr.sagepub.com/content/70/5.toc

Rotman International Journal of Pension Management (Vol. 42, No. 2, Fall 2013).

www.rijpm.com/journal/journal

September 26, 2013

CAAR – UK Parliamentary Library Notes – September 26, 2013

Filed under: Reports and Articles — Tags: — admin @ 2:45 pm

Carer’s Allowance and the Retirement Pension,” by Steven Kennedy (SN06349, September 2013, .pdf format, 7p.).

www.parliament.uk/briefing-papers/SN06349/carer-s-allowance-and-the-retirement-pension

CAAR – UK Office for National Statistics Statistical Bulletin – September 26, 2013

Filed under: Reports and Articles — Tags: — admin @ 2:44 pm

Occupational Pension Schemes Survey, 2012,” (September 2013, .pdf and HTML format, 18p.).

www.ons.gov.uk/ons/rel/fi/occupational-pension-schemes-survey/2012/stb-opss-2012.html

September 25, 2013

CAAR – Pension Research Council, Wharton School, University of Pennsylvania Working Papers – September 25, 2013

Filed under: Working Papers — Tags: , — admin @ 5:03 pm

Note: PRC requires free registration before providing working papers

A. “Evaluating Pension Insurance Pricing,” by avid F. Babbel (WP2013-17, September 2013, .pdf format, 33p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1144

B. “Joint Risk of DB Pension Underfunding and Sponsor Termination: Incorporating Options-Based Projections and Valuations into PIMS,” by Deborah Lucas (WP2013-16, September 2013, .pdf format, 28p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1143

C. “Measuring and Explaining Pension System Risk,” by Frank J. Fabozzi (WP2013-15, September 2013, .pdf format, 21p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1142

D. “Modeling Risk-based Pension Insurance Premiums,” by Martin G. Clarke (WP2013-14, September 2013, .pdf format, 32p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1141

E. “An Actuarial Perspective on Pension Plan Funding,” by Donald J. Segal (WP2013-13, September 2013, .pdf format, 14p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1140

F. “Actuarial Perspectives on Defined Benefit Pension Risk – Modeling Emerging Issues,” by Christopher M. Bone (WP2013-12, September 2013, .pdf format, 21p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1139

G. “Observations on Actuarial Assumptions and Models for Defined Benefit Pension Plans,” by Donald E. Fuerst (WP2013-11, September 2013, .pdf format, 14p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1138

H. “Integrated Risk Management for Defined Benefit Pensions: Models and Metrics,” by Raimond Maurer (WP2013-10, September 2013, .pdf format, 21p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1137

I. “Economic and Financial Approaches to Valuing Pension Liabilities,” by Robert Novy-Marx (WP2013-09, September 2013, .pdf format, 21p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1136

J. “Financial Market Assumptions & Models for Pension Plans: A Technical Comment on the PIMS Model Assumptions for Asset Markets,” by Christopher C. Geczy (WP2013-08, September 2013, .pdf format, 27p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1135

K. “Technical Review Panel for the PIMS Model: Final Report,” by Olivia S. Mitchell (WP2013-07, September 2013, .pdf format, 17p.). Note: Links to the abstract and full-text can be found at:

www.pensionresearchcouncil.org/publications/document.php?file=1134

September 24, 2013

CAAR – US Census Bureau Data Update – September 24, 2013

Filed under: Data Files — Tags: , — admin @ 5:02 pm

Quarterly Survey of Public Pensions: State & Local Government – 2013 Second Quarter,” (September 2013, Excel and .pdf format).

www.census.gov/govs/qpr/

September 23, 2013

CAAR – National Bureau of Economic Research Working Papers – September 23, 2013

Filed under: Working Papers — Tags: , , — admin @ 4:53 pm

A. “Spousal Health Effects – the Role of Selection,” by James Banks, Elaine Kelly, and James P. Smith (w19438, September 2013, .pdf format, 37p.).

Abstract:

In this paper, we investigate the issue of partner selection in the health of individuals who are at least fifty years old in England and the United States. We find a strong and positive association in family background variables including education of partners and their parents. Adult health behaviors such as smoking, drinking, and exercise are more positively associated in England compared to the United States. Childhood health indicators are also positively associated across partners.

We also investigated pre and post partnership smoking behavior of couples. There exists strong positive assortative mating in smoking in that smokers are much more likely to partner with smokers and non-smokers with non-smokers. This relationship is far stronger in England compared to the United States. In the United States, we find evidence of asymmetric partner influence in smoking in that men’s pre marriage smoking behavior influences his female partner’s post marriage smoking behavior but there does not appear to be a parallel influence of women’s pre-marriage smoking on their male partner’s post-marital smoking. These relationships are much more parallel across genders in England.

www.nber.org/papers/w19438

B. “Wages, Pensions, and Public-Private Sector Compensation Differentials for Older Workers,” by Philipp Bewerunge and Harvey S. Rosen (w19454, September 2013, .pdf format, 41p.).

Abstract:

We use a sample of full-time workers over 50 years of age from the 2004 and 2006 waves of the Health and Retirement Study to investigate whether workers in federal, state, and local government receive more generous wage and pension compensation than private sector workers, ceteris paribus. With respect to hourly remuneration (wages plus employer contributions to defined contribution plans), federal workers earn a premium of about 28 log points, taking differences in employee characteristics into account. However, there are no statistically discernible differences between state and local workers and their private sector counterparts, ceteris paribus. These findings are about the same whether or not indicators of occupation are included in the model. On the other hand, pension wealth accumulation is greater for employees in all three government sectors than for private sector workers, even after taking worker characteristics into account. As a proportion of the hourly private-sector wage, the hourly equivalent public-private differentials are about 17.2 percent, 13.4 percent, and 12.6 percent for federal, state, and local workers, respectively. We find no evidence that highly-educated individuals are penalized by taking jobs in the public sector, either with respect to wages or pension wealth.

www.nber.org/papers/w19454

CAAR – UK Parliamentary Library Standard Note – September 23, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:50 pm

Teachers’ Pension Schemes- current reforms,” by Djuna Thurley (SN06731, September 2013, .pdf format, 33p.).

www.parliament.uk/briefing-papers/SN06731/teachers-pension-schemes-current-reforms

CAAR – Deloitte Actuaries and Consultants Report – September 23, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:49 pm

The Dynamics of the Australian Superannuation System: the next 20 years 2011 – 2030,” (September 2013, .pdf format, 32p.).

www.deloitte.com/view/en_AU/au/industries/financialservices/wealthmanagementinvestment/90a55f76b2c53310VgnVCM3000001c56f00aRCRD.htm

September 20, 2013

CAAR – University of Michigan Retirement Research Center Working Papers – September 20, 2013

Filed under: Working Papers — Tags: , , , — admin @ 12:17 pm

A. “The Social Security Windfall Elimination and Government Pension Offset Provisions for Public Employees in the Health and Retirement Study,” by Alan L. Gustman, Thomas L. Steinmeier and Nahid Tabatabai (WP 2013-288, September 2013, .pdf format, 63p.). Note: Links to the abstract and full-text can be found at:

www.mrrc.isr.umich.edu/publications/index_abstract.cfm?ptid=1&pid=915

B. “Did Age Discrimination Protections Help Older Workers Weather the Great Recession?” by David Neumark and Patrick Button (WP 2013-287, September 2013, .pdf format, 46p.). Note: Links to the abstract and full-text can be found at:

www.mrrc.isr.umich.edu/publications/index_abstract.cfm?ptid=1&pid=912

September 19, 2013

CAAR – Social Justice Ireland Report – September 19, 2013

Filed under: Reports and Articles — Tags: , — admin @ 3:07 pm

A Universal Pension for Ireland,” by Adam Larragy (September 2013, .pdf format, 52p.). The report is linked from a SJI news release: “Ireland could and should have a Universal Pension for all older people.”

www.socialjustice.ie/content/ireland-could-and-should-have-universal-pension-all-older-people

Click on “full study” for link to full text.

More information about SJI:

www.socialjustice.ie/content/about-us

September 17, 2013

CAAR – UK Department of Work and Pensions Report – September 17, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:27 pm

Framework for the analysis of future pension incomes,” (September 2013, .pdf format, 42p.).

www.gov.uk/government/publications/framework-for-the-analysis-of-future-pension-incomes

September 12, 2013

CAAR – US House Committee on Oversight and Government Reform, Subcommittee on Government Operations Hearing Testimony – September 12, 2013

Filed under: Legislation Information Updates — Tags: — admin @ 3:29 pm

Oversight of the SIGTARP Report on Treasury’s Role in the Delphi Pension Bailout,” a hearing held September 11, 2013 (witness statements available in .pdf format, video of the hearing is available at the site, running time 49 minutes 36 seconds).

oversight.house.gov/hearing/oversight-of-the-sigtarp-report-on-treasurys-role-in-the-delphi-pension-bailout/

September 11, 2013

CAAR – Institute for the Study of Labor (IZA) [University of Bonn, Germany] Working Paper – September 11, 2013

Filed under: Working Papers — Tags: , — admin @ 4:02 pm

(Lack of) Pension Knowledge,” by Alan Barrett, Irene Mosca, and Brendan J. Whelan (Discussion Paper No. 7596, August 2013, .pdf format, 21p.). Note: Links to the abstract and full-text can be found at:

www.iza.org/en/webcontent/publications/papers/viewAbstract?dp_id=7596

September 9, 2013

CAAR – UK Parliamentary Library Research Notes – September 9, 2013

Filed under: Reports and Articles — Tags: — admin @ 3:43 pm

Pensions: possible statutory override for ‘protected persons regulations’,” by Djuna Thurley (SN06725, September 2013, .pdf format, 9p.).

www.parliament.uk/briefing-papers/SN06725/pensions-possible-statutory-override-for-protected-persons-regulations

August 29, 2013

CAAR – C.D. Howe Institute [Toronto, Ontario, Canada] Commentary – August 29, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:29 pm

Ontario Pension Policy 2013: Key Challenges Ahead,” by Barry Gros (Commentary No. 386, August 2013, .pdf format, 10p.).

www.cdhowe.org/ontario-pension-policy-2013-key-challenges-ahead/22573

CAAR – Tables of Contents – August 29, 2013

Filed under: Journal Table of Contents — Tags: , , — admin @ 4:24 pm

Clinical Gerontologist (Vol. 36, No. 5, 2013).

www.tandfonline.com/toc/wcli20/36/5

Educational Gerontology (Vol. 39, No. 11, November 2013).

www.ingentaconnect.com/content/routledg/uedg/2013/00000039/00000011

International Journal of Aging and Human Development (Vol. 77, No. 2, 2013).

baywood.metapress.com/openurl.asp?genre=issue&eissn=1541-3535&volume=77&issue=2

Journal of Pension Economics and Finance (Vol. 12, No. 4, October 2013).

journals.cambridge.org/action/displayIssue?decade=2010&jid=PEF&volumeId=12&issueId=04&iid=8990876

August 28, 2013

CAAR – Center for Economic Studies/Ifo Institute for Economic Research (CESifo) [Munich, Bavaria, Germany] Working Paper – August 28, 2013

Filed under: Reports and Articles — Tags: — admin @ 4:56 pm

The Intergenerational Welfare State,” by Torben M. Andersen and Joydeep Bhattacharya (Working Paper No. 4359, August 2013, .pdf format, 47p.). Note: Links to the abstract and full-text can be found at:

www.cesifo-group.de/ifoHome/publications/working-papers/CESifoWP/CESifoWPdetails?wp_id=19096134

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