Publisher's Synopsis
For four decades, Fundamentals of Private Pensions has been regarded as the single most authoritative reference source on private pensions. This seventh edition of the classic text represents a major restructuring of the contents with a wealth of new material and an expanded discussion that provides new economic and policy perspectives on the provision of retirement income. It addresses the economics of tax incentives provided to retirement programs and evaluates the various human resource incentives in defined benefit and defined contribution programs. The discussion and development of retirement income adequacy measures, a feature dating back to the first edition, has been significantly expanded.
The seventh edition is organized into five main sections. Section 1 lays out the regulatory environment in which private pension plans operate. Section 2 investigates the various forms of retirement plans available. Section 3 focuses on the economics of pensions, including a discussion of the recent economic literature on the operations of employer sponsored retirement plans. Section 4 explores the funding and accounting environment in which private employer-sponsored retirement plans operate. Section 5 examines the handling of assets in employer-sponsored plans and their valuation, as well as insurance provisions behind the benefit promises implied by these plans
As the single most authoritative source on corporate pensions, Fundamentals of Private Pensions is invaluable to managers seeking to develop efficient pension plans, scholars and policymakers concerned with pension design and regulation, and actuaries and tax specialists. Employee benefits and human resource professionals around the world will find this edition an essential reference, and investment experts as well as accountants will gain a clearer understanding of how pensions influence corporate and employee well-being.
