Working Papers from 2007
Planning and Financial Literacy: How Do Women Fare?, Annamaria Lusardi and Olivia S. Mitchell
Optimal Life-Cycle Strategies in the Presence of Interest Rate and Inflation Risk, Raimond H. Maurer, Christian Schlag, and Michael Z. Stamos
The Victory of Hope over Angst? Funding, Asset Allocation, and Risk-Taking in German Public Sector Pension Reform, Raimond Maurer, Olivia S. Mitchell, and Ralph Rogalla
Asset Allocation within Variable Annuities: The Impact of Guarantees, Moshe A. Milevsky and Vladyslav Kyrychenko
Learning from the Chilean Experience: The Determinants of Pension Switching, Olivia S. Mitchell, Petra Todd, and David Bravo
Red, Yellow, and Green: A Taxonomy of 401(k) Portfolio Choices, Gary R. Mottola and Stephen P. Utkus
Regret, Pride, and the Disposition Effect, Alexander Muermann and Jacqueline M. Volkman
Reform of the Tax on Reversions of Excess Pension Assets, Gaobo Pang and Mark Warshawsky
The Impact of Pension Freezes on Firm Value, Jordan Rubin
Efficient Annuitization: Optimal Strategies for Hedging Mortality Risk, Jason S. Scott, John G. Watson, and Wei-Yin Hu
Efficient Retirement Financial Strategies, William F. Sharpe, Jason S. Scott, and John G. Watson
Net Worth and Housing Equity in Retirement, Todd Sinai and Nicholas Souleles
The Impact of Health Status and Out-of-Pocket Medical Expenditures on Annuity Valuation, Cassio M. Turra and Olivia S. Mitchell
The New Pension Law and Defined Benefit Plans: A Surprisingly Good Match, Mark J. Warshawsky
Working Papers from 2006
The Chilean Pension Reform Turns 25: Lessons from the Social Protection Survey, Alberto Arenas de Mesa, David Bravo, Jere R. Behrman, Olivia S. Mitchell, and Petra E. Todd
The Importance of Default Options for Retirement Saving Outcomes: Evidence from the United States, John Beshears, James J. Choi, David Laibson, and Brigitte C. Madrian
Understanding Baby Boomers’ Retirement Prospects, Barbara Butrica, Howard M. Iams, and Karen E. Smith
$100 Bills on the Sidewalk: Suboptimal Saving in 401(k) Plans, James J. Choi, David Laibson, and Brigitte C. Madrian
Reducing the Complexity Costs of 401(k) Participation Through Quick Enrollment™, James J. Choi, David Laibson, and Brigitte C. Madrian
Retiring on the House? Cross-Cohort Differences in Housing Wealth, Julia L. Coronado, Dean Maki, and Ben Weitzer
Transitioning To Retirement: How Will Boomers Fare?, Pension Research Council
Measuring Pension Wealth, Chris Cunningham, Gary V. Engelhardt, and Anil Kumar
The Impact of Pensions on Nonpension Investment Choices, Leora Friedberg and Anthony Webb
The Sufficiency of Retirement Savings: Comparing Cohorts at the Time of Retirement, Robert Haveman, Karen Holden, Barbara Wolfe, and Andrei Romanov
Optimizing the Retirement Portfolio: Asset Allocation, Annuitization, and Risk Aversion, Wolfram J. Horneff, Raimond Maurer, Olivia S. Mitchell, and Ivica Dus
Trends in Pension Values Around Retirement, Michael D. Hurd and Susann Rohwedder
Pension Portfolio Choice and Menu Exposure, Anders Karlsson, Massimo Massa, and Andrei Simonov
Overview: Lessons from Pension Reform in the Americas, Stephen J. Kay and Tapen Sinha
Developments in Mandatory Defined Contribution Plans: Investment Patterns in Singapore’s Central Provident Fund System, Benedict S.K. Koh, Olivia S. Mitchell, and Toto Tanuwidjaja
Health Insurance Patterns Nearing Retirement, Helen G. Levy
Saving Between Cohorts: The Role of Planning, Annamaria Lusardi and Jason Beeler
Cohort Differences in Retirement Expectations and Realizations, Nicole Maestas
Baby Boomers vs Their Parents: Economic Well-being and Health Status, Joyce Manchester, David Weaver, and Kevin Whitman
Will Boomers Redefine Retirement?, Olivia S. Mitchell
The Inattentive Participant: Portfolio Trading Behavior in 401(k) Plans, Olivia S. Mitchell, Gary R. Mottola, Stephen P. Utkus, and Takeshi Yamaguchi
Social Security Replacement Rates For Alternative Earnings Benchmarks, Olivia S. Mitchell and John W.R. Phillips
Financial Innovation for an Aging World, Olivia S. Mitchell, John Piggott, Michael Sherris, and Shaun Yow
Cross-Cohort Differences in Health on the Verge of Retirement, Beth J. Soldo, Olivia S. Mitchell, Rania Tfaily, and John F. McCabe
Are Baby Boomers Living Well Longer?, David R. Weir
Winners and Losers: 401(k) Trading and Portfolio Performance, Takeshi Yamaguchi, Olivia S. Mitchell, Gary R. Mottola, and Stephen P. Utkus
Working Papers from 2005
Understanding and Allocating Investment Risks in a Hybrid Pension Plan, Peter Albrecht, Joachim Coche, Raimond Maurer, and Ralph Rogalla
Regret, Portfolio Choice, and Guarantees in Defined Contribution Schemes, Alexander Alexander Muermann, Olivia S. Mitchell, and Jacqueline M. Volkman
Understanding the Uncertainties of Retirement, David Blitzstein, Olivia S. Mitchell, and Stephen Utkus
Who Bears What Risk? An Intergenerational Perspective, Henning Bohn
Changing Risks Confronting Pension Participants, Phyllis C. Borzi
The Influence of PBGC Insurance on Pension Fund Finances, Julia L. Coronado and J. Nellie Liang
Restructuring the Defined Benefit Pension, P. Brett Hammond and Douglas Fore
The Role of 401(k) Accumulations in Future Retirement Income, Sarah Holden and Jack VanDerhei
Strategic Asset Allocation in Japan: An Empirical Evaluation, Tokuo Iwaisako, Olivia S. Mitchell, and John Piggott
The UK Approach to Insuring Defined Benefit Pension Plans, David McCarthy and Anthony Neuberger
Dimensions of 401(k) Plan Design, Olivia S. Mitchell, Stephen P. Utkus, and Tongxuan (Stella) Yang
Turning Workers into Savers? Incentives, Liquidity, and Choice in 401(k) Plan Design, Olivia S. Mitchell, Stephen P. Utkus, and Tongxuan (Stella) Yang
The Importance of Financial Communication for Participation Rates and Contribution Levels in 401(k) Plans, Steven A. Nyce
Sex Mortality Differentials in the United States: The Role of Cohort Smoking Patterns, Samuel H. Preston and Haidong Wong
Market Innovations to Better Allocate Generational Risk, Salvador Valdés-Prieto
Risk-Sharing in Retiree Medical Benefits, George Wagoner, Anna Rappaport, Brian Fuller, and Frank Yeager
A Regulatory Framework for Strengthening Defined Benefit Pensions, Mark J. Warshawsky, Neal McCall, and John D. Worth
Understanding the Defined Benefit versus Defined Contribution Choice, Tongxuan (Stella) Yang
Public Pension Governance, Funding, and Performance: A Longitudinal Appraisal, Tongxuan (Stella) Yang and Olivia S. Mitchell
Working Papers from 2004
Work and Retirement Plans Among Older Americans, Katharine G. Abraham and Susan N. Houseman
Why Pension Fund Management Needs a Paradigm Shift, Keith Ambachtsheer
Profitable Prudence: The Case for Public Employer Defined Benefit Plans, Gary W. Anderson and Keith Brainard
Educating Pension Plan Participants, William J. Arnone
Modeling Lifetime Earnings Paths: Hypothetical Versus Actual Workers, Andrew Au, Olivia S. Mitchell, and John W.R. Phillips
The Case Against Stock in Public Pension Funds, Lawrence N. Bader and Jeremy Gold
Plan Design and 401(k) Savings Outcomes, James J. Choi, David Laibson, and Brigitte C. Madrian
The Changing Retirement Paradigm, Robert L. Clark and Olivia S. Mitchell
Betting on Death and Capital Markets in Retirement: A Shortfall Risk Analysis of Life Annuities versus Phased Withdrawal Plans, Ivica Dus, Raimond Maurer, and Olivia S. Mitchell
Employee Stock Purchase Plans, Gary V. Engelhardt and Brigitte C. Madrian
Changes in Accounting Practices Will Drive Pension Paradigm Shifts, Douglas Fore
Post-employment Benefits, Economics and Accounting: Moral Hazard and Frail Benefit Designs, Jeremy Gold
Developments in Phased Retirement, Robert Hutchins and Kerry L. Papps
Looking Backward, Looking Forward: Where is Pension Policy Headed?, James A. Klein
The Future of Pension Plan Design, David McCarthy
Corporate Pension Reform in Japan: Big Bang or Big Bust?, Sarah Ingmanson McLellan
Strategies to Retain Older Workers, Janemarie Mulvey and Steven A. Nyce
Death Spiral or Euthanasia? The Demise of Generous Group Health Insurance Coverage, Mark Pauly, Olivia S. Mitchell, and Peter Zeng
Reality Testing for Pension Reform, Pamela Perun and C. Eugene Steuerle
The Future of Pensions in Canada, Silvana Pozzebon
Older Workers: Employment and Retirement Trends, Patrick Purcell
The Future of Retirement in Sweden, Annika Sunden
Risk Management and Pension Plan Choice in Japan, Masaharu Usuki
Working Papers from 2003
How Do Retirees Go from Stock to Flow?, John Ameriks
Employee Investment Decisions about Company Stock, James J. Choi, David Laibson, Brigitte C. Madrian, and Andrew Metrick
Pension Plan Options: Preferences, Choices, and the Distribution of Benefits, Robert L. Clark
Early Pension Plans for State and Local Workers, Robert L. Clark, Lee A. Craig, and Jack W. Wilson
Establishing the U.S. Navy Pension Plan, Robert L. Clark, Lee A. Craig, and Jack W. Wilson
Financial Markets and the Management of the Navy Pension Portfolio, Robert L. Clark, Lee A. Craig, and Jack W. Wilson
Lessons from the Early Development of Public Pensions, Robert L. Clark, Lee A. Craig, and Jack W. Wilson
Management of the U.S. Navy Pension Fund, Robert L. Clark, Lee A. Craig, and Jack W. Wilson
Pension Economics, Robert L. Clark, Lee A. Craig, and Jack W. Wilson
The Birth of the Federal Employees Pension Plan, Robert L. Clark, Lee A. Craig, and Jack W. Wilson
The Civil War and the Revival of the Navy Pension Fund, Robert L. Clark, Lee A. Craig, and Jack W. Wilson
The Development of the U.S. Army Pension Plan, Robert L. Clark, Lee A. Craig, and Jack W. Wilson
The Evolution of Public Pensions, Robert L. Clark, Lee A. Craig, and Jack W. Wilson
The Origins of Western Military Pensions, Robert L. Clark, Lee A. Craig, and Jack W. Wilson
Sex Differences, Financial Education, and Retirement Goals, Robert L. Clark, Madeleine B. d'Ambrosio, Ann A. McDermed, and Kshama Sawant
Cash Balance Pension Plan Conversions and the New Economy, Julia Lynn Coronado and Phillip C. Copeland
Risk Management for Global Aging: Perspectives on the Challenges Facing Industrialized Countries, Pension Research Council
Perceptions of Mortality Risk: Implications for Annuities, Matthew Drinkwater and Eric T. Sondergeld