Chapter Chapter <b>Understanding the Uncertainties of Retirement</b>

David Blitzstein, Olivia S. Mitchell and Stephen P. Utkus

in Restructuring Retirement Risks

Published in print August 2006 | ISBN: 9780199204656
Published online September 2006 | e-ISBN: 9780191603822 | DOI:
Chapter  Chapter   Understanding the Uncertainties of Retirement

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An aging-population tsunami is sweeping the world, and capital markets have buffeted pension plans while retiree healthcare care costs rise without letup. This coincidence of shocks marks a crucial moment for global retirement security, since public and private retirement systems everywhere have fared poorly just as the massive Baby Boom generation moves into retirement. Clearly, urgent efforts are needed to enhance risk management for public and private pension systems around the world. This book explores three aspects of the evolution of risk and reward-sharing in retirement to offer guidance to pension fiduciaries, plan participants, and policymakers. First, it focuses on new perspectives for assessing retirement risks and rewards. Second, it evaluates efforts to insure retirement plans. Lastly, it provides several new strategies for managing retirement system risk. This chapter previews the remarkable findings by contributors to this volume.

Keywords: retirement security; pensions; Baby Boom generation; retirement plans; pension fiduciaries

Chapter.  2892 words. 

Subjects: Financial Markets

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