List of Figures p. xvii
List of Tables p. xx
Editorial Team p. xxiii
List of Contributors p. xxv
Introduction p. 1
1 The Agenda Gordon L. Clark and Alicia H. Munnell and J. Micheal Oraszag p. 3
2 Pension and Retirement Income in a Global Environment Gordon L. Clark and Alicia H. Munnell and J. Michael Orszag p. 10
I Retirement in Context p. 29
Creating Modern Retirement p. 31
3 The History of Retirement Pat Thane p. 33
4 The Development of Public Pensions from 1889 to the 1990s Camila Arza and Paul Johnson p. 52
5 The Development of Employer Retirement Income Plans: from the Nineteenth Century to 1980 Steven Sass p. 76
6 Changing Work Patterns and the Reorganization of Occupational Pensions Ewald Engelen p. 98
7 Gender, the Family, and Economy Vickie L. Bajtelsmit p. 121
8 Social Solidarity Johan J. De Deken and Eduard Ponds and Bart van Riel p. 141
The Economic Context p. 161
9 Demography and Ageing Naohiro Ogawa and Noriyuki Takayama p. 163
10 Life-Cycle Options and Preferences Florence Legros p. 183
11 Funding, Saving, and Economic Growth E. Philip Davis and Yu-Wei Hu p. 201
II Public Retirement Plans p. 219
State Old-Age Pension Programs p. 221
12 Structure and Performance of Defined Benefit Schemes Warren McGillivray p. 223
13 The Structure and Performance of Mandated Pensions Adam Creighton and John Piggott p. 241
14 Actuarial-Based Public Pension Systems Richard Disney p. 268
Entitlements and Pensions p. 291
15 Citizenship, Entitlement, and Mobility Robin Ellison p. 293
16 Early Retirement David A. Wise p. 310
17 Meeting Health and Long-term Care Needs in Retirement Marilyn Moon p. 336
III Employer-Sponsored Retirement Plans p. 355
Structure of Employer-Sponsored Pensions p. 357
18 Employer-Sponsored Plans: The Shift from Defined Benefit to Defined Contribution Alicia H. Munnell p. 359
19 Organized Labor and Pensions Teresa Ghilarducci p. 381
20 Corporate Finance and Capital Markets J. Michael Orszag and Neha Sand p. 399
Pension Plan Investments p. 415
21 Asset Liability Management Rob Bauer and Roy Hoevenaars and Tom Steenkamp p. 417
22 Strategic Asset Allocation for Pension Plans John Y. Campbell and Luis M. Viceira p. 441
23 Pension Fund Management and Investment Performance Ian Tonks p. 456
Pension Plan Governance p. 481
24 Regulation of Pension Fund Governance Gordon L. Clark p. 483
25 Regulatory Principles and Institutions Andre Laboul and Juan Yermo p. 501
26 Accounting Standards for Pension Costs Geoffrey Whittington p. 521
IV Individual and Household Retirement Provision p. 539
Individual Pensions, Insurance, and Saving p. 541
27 Occupational Pension Scheme Design David McCarthy p. 543
28 Annuity Markets James M. Poterba p. 562
29 Personal Pensions and Markets Tryggvi Thor Herbertsson p. 584
Individual and Household Retirement Planning p. 601
30 Choice, Behavior, and Retirement Saving Steven F. Venti p. 603
31 Housing Wealth and Retirement Savings William C. Apgar and Zhu Xiao Di p. 618
32 The Elderly and Ethical Financial Decision-Making Julian Savulescu and Tony Hope p. 638
V Looking Ahead p. 659
Prospective Models p. 661
33 Structural Pension Reform-Privatization-in Latin America Carmelo Mesa-Lago p. 663
34 Private Pensions and Public Policy: The Public-Private Divide Reappraised Noel Whiteside p. 684
35 Unending Work Annika Sunden p. 702
Challenges p. 719
36 Productivity, Compensation, and Retirement David Neumark p. 721
37 Poverty and Inequality Gary Burtless p. 740
38 The Politics of Pension Reform: Managing Interest Group Conflicts Bernhard Ebbinghaus p. 759
Emerging Economies p. 779
39 Pensions for Development and Poverty Reduction Armando Barrientos p. 781
40 Retirement Income Systems in Asia Hanam S. Phang p. 799
41 Pensions in Africa Anthony Asher p. 816
Coda p. 837
42 Sustainable and Equitable Retirement in a Life Course Perspective Gosta Esping-Andersen and John Myles p. 839
Index p. 859