Reality Testing for Pension Reform

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dc.contributor.authorPerun, Pamela
dc.contributor.authorSteuerle, C. Eugene
dc.date2023-05-17T22:39:07.000
dc.date.accessioned2023-05-23T00:30:42Z
dc.date.available2023-05-23T00:30:42Z
dc.date.issued2004-01-01
dc.date.submitted2019-08-30T15:04:48-07:00
dc.description.abstractThe US private pension system is at a crossroads. Its future direction is now under intense scrutiny by Congress, which has recently considered two very different proposals for change, each containing elements likely to be on the national agenda for some time. One approach embodies a traditional approach to pension reform, with an omnibus statute that tinkers with almost every aspect of the private pension system to make incremental changes. A second seeks to bring radical change and simplification, with sweeping consolidation of the number and types of defined contribution plans. This chapter evaluates these two approaches, one for incremental change, the other for structural reform, and then considers an alternative. Our analysis focuses on the nuts-and-bolts of the private pension system, the plans that comprise it, and the rules that govern them that have accumulated over the past 60 years. Our thesis is that an analysis of the architecture and machinery of the private pension system can teach us a great deal about how to redesign the private pension system to meet retirement income challenges to come.
dc.description.comments<p>The published version of this Working Paper may be found in the 2005 publication: <em><a href="https://pensionresearchcouncil.wharton.upenn.edu/publications/books/reinventing-the-retirement-paradigm/" target="_blank" title="Reinventing the Retirement Paradigm">Reinventing the Retirement Paradigm</a>.</em></p>
dc.identifier.urihttps://repository.upenn.edu/handle/20.500.14332/43771
dc.legacy.articleid1402
dc.legacy.fulltexturlhttps://repository.upenn.edu/cgi/viewcontent.cgi?article=1402&amp;context=prc_papers&amp;unstamped=1
dc.relation.urlhttp://pensionresearchcouncil.wharton.upenn.edu/wp-content/uploads/2015/09/0-19-928460-03.pdf
dc.rights<p>©2004 Pension Research Council of the Wharton School of the University of Pennsylvania. All Rights Reserved.</p>
dc.source.issue401
dc.source.issueWP2004-10
dc.source.journalWharton Pension Research Council Working Papers
dc.source.statuspublished
dc.subject.otherEconomics
dc.titleReality Testing for Pension Reform
dc.typeWorking Paper
digcom.contributor.authorPerun, Pamela
digcom.contributor.authorSteuerle, C. Eugene
digcom.identifierprc_papers/401
digcom.identifier.contextkey15240655
digcom.identifier.submissionpathprc_papers/401
digcom.typeworkingpaper
dspace.entity.typePublication
upenn.schoolDepartmentCenterWharton Pension Research Council Working Papers
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