Date of this Version
This paper tackles the vexing issue of corporate pension reform in the U.S. and Japan. Both countries are undergoing structural and demographic changes in their workforce and corporate governance, giving urgency to the problem of pension funding and solvency. Urgency has led to different responses at the political, corporate, and societal levels. Behind this, we find legacy institutions and norms peculiar to each country that are evolving under different economic realities.
United States, Japan, pension reform, pensions
Working Paper Number
All findings, interpretations, and conclusions of this paper represent the views of the authors and not those of Lehman Brothers, Morgan Stanley, the Wharton School, or the Pension Research Council. © 2007 Pension Research Council of the Wharton School of the University of Pennsylvania. All Rights Reserved.
The authors benefited from discussions with David McLellan and from support and feedback from Jennifer Amyx and Ken Shibusawa.
Date Posted: 17 December 2019