Restructuring the Defined Benefit Pension

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Wharton Pension Research Council Working Papers
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Economics
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Hammond, P. Brett
Fore, Douglas
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Under the traditional approach to defined benefit plans, well-intended disciplinary and regulatory regimes have sought to restrict discretion, reduce uncertainty and risk, and protect workers and employers. Nevertheless the discouraging state of US defined benefit plans indicates that past efforts have gone awry. This chapter suggests that a new approach to defined benefit plans could resurrect the key elements required for retirement income security, rather than pursuing piecemeal reform.

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2005-01-01
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The published version of this Working Paper may be found in the 2006 publication: Restructuring Retirement Risks (https://pensionresearchcouncil.wharton.upenn.edu/publications/books/restructuring-retirement-risks/)
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