Wharton Pension Research Council Working Papers

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Working Paper

Date of this Version



In previous studies, financial characteristics of plan sponsors and defined benefit plans have been found to affect asset allocation decisions in investment management. We examine the influence of these factors on plan design and choices of plan types in Japan. Our findings confirm that profit volatility, funding ratio, and pension plan size relative to a plan sponsor’s total assets, exert some influence on decisions regarding plan termination and put-back of the contracted-out portion of Employee Pension Funds in Japan.


The published version of this Working Paper may be found in the 2005 publication: Reinventing the Retirement Paradigm.

Working Paper Number


Copyright/Permission Statement

©2004 Pension Research Council of the Wharton School of the University of Pennsylvania. All Rights Reserved.

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Economics Commons



Date Posted: 30 August 2019