Pension Policy: The Search for Better Solutions

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9780880993555: Pension Policy: The Search for Better Solutions

Turner identifies the current problems facing pension policy for U.S. employer-provided pension plans and recommends solutions to those problems based on his examination of pension systems in other industrialized nations.

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The U.S. pension system is in decline, and it needs fixing. Odds are that current workers, when they retire, will lack the financial security of current retirees. For the growing number of workers who rely on 401(k) plans for retirement savings, dramatic declines in the financial markets in 2008 cruelly brought home the fact that they have taken on the investment risk previously absorbed by employers when defined benefit plans were the dominant form of pension.

John A. Turner tackles the current problems facing pension policy for U.S. private sector employer-provided pension plans. He provides a thorough overview of defined benefit, defined contribution, and hybrid retirement plans, describes the problems inherent in the current pension system, and presents possible solutions to those problems.

Normally in the United States, the 50 states provide the opportunity for social experimentation on policy innovations at a smaller level than the national level. That possibility for experimentation, however, is not available in the pension system because federal law preempts state law on pension issues. Thus, Turner presents lessons for U.S. policy from the retirement system experiences of more than a dozen other countries.

Key policy issues addressed include:

  • How can pension coverage be increased?
  • What can be done to save defined benefit plans?
  • How can annuitization be increased in defined contribution plans?
  • How should pension policy adjust to continuing increases in life expectancy?

    Readers seeking an overall introduction to pension policy may read the book from cover to cover; other readers may find it more profitable to read particular chapters for a survey of policy issues of particular interest. In either case, this book offers specific solutions aimed at improving pension policy, and ultimately the lives of retirees, in the United States and elsewhere.

  • About the Author:

    John A. Turner is director of the Pension Policy Center in Washington, D.C. He has lectured and consulted in more than 20 countries, has published 12 books and more than 100 articles. He is the author of three previous books for the Upjohn Institute, including "Individual Accounts for Social Security Reform: International Perspectives on the U.S. Debate," published in 2006. Turner has a PhD in economics from the University of Chicago.

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    Turner, John
    Published by W E Upjohn Inst for (2009)
    ISBN 10: 0880993553 ISBN 13: 9780880993555
    New Hardcover Quantity Available: 1
    Revaluation Books
    (Exeter, United Kingdom)

    Book Description W E Upjohn Inst for, 2009. Hardcover. Book Condition: Brand New. 243 pages. 9.25x6.25x0.75 inches. In Stock. Bookseller Inventory # 0880993553

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