Administrative Costs and the Organization of Individual Retirement Account Systems
Administrative Costs and the Organization of Individual Retirement Account Systems

Author: Estelle James

Publisher: World Bank Publications

Published: 2001

Total Pages: 80

ISBN-13:

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Organizing individual retirement accounts through the institutional market and with constrained choice could substantially lower administrative costs. The tradeoff: rebidding problems, weaker performance incentives, inflexibility in the face of unforeseen contingencies, and an increased probability of corruption, collusion, and regulatory capture.

Private Pensions Systems
Private Pensions Systems

Author:

Publisher: OECD Publishing

Published: 2001-01-01

Total Pages: 271

ISBN-13: 9789264183612

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TABLE OF CONTENTS Administrative Costs of Private Pensions Systems: Introduction I. Administrative Costs Administrative Costs and the Organization of Individual Account Systems: A Comparative Perspective by Estelle James, James Smalhout and Dimitri Vittas Administrative Charges for Funded Pensions: Comparison and Assessment of 13 Countries by Edward Whitehouse The Maturity Structure of Administrative Costs: Theory and the UK Experience by Mamta Murthi, J. Michael Orszag and Peter R. Orszag Administrative Costs, Investment Performance and Transparency: A View from Latin America by Carlos Grushka II. Selected Private Pension Systems The Australian Superannuation System by Jane Barrett and Keith Chapman Overview of the Canadian Private Pension System by Jane Pearse The Italian Private Pension System by Aurelio Sidoti and Enzo Mario Ricci Overview of the Corporate Pension Scheme in Japan by Tokihiko Shimizu Pensions in the Netherlands by Wouter Vinken Report on Swedish Pensions by Johan Lundström

Administrative Costs in Public and Private Retirement Systems
Administrative Costs in Public and Private Retirement Systems

Author: Olivia S. Mitchell

Publisher:

Published: 1996

Total Pages: 84

ISBN-13:

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This paper collects and analyzes available information on administrative costs associated with public and private retirement systems. We explore expenses of the US social security system and compare these with data from national systems in other countries. We find that administration costs of publicly-run social security systems vary a great deal across countries and institutional settings. A key factor influencing public old-age program costs is the system's scale: plans with more assets and more participants are less expensive. We also investigate expenses reported by US pension plans and mutual funds, programs seen by many as alternative mechanisms for managing retirement saving. Based on an analysis of costs associated with retirement savings plans managed by financial institutions, we conclude that privately managed old-age retirement programs would be somewhat more costly to operate than current publicly-managed programs, depending on the program's specific design. Nevertheless these costs would be accompanied by new services for participants.

Reforming Social Security
Reforming Social Security

Author: Fred T. Goldberg

Publisher:

Published: 1999

Total Pages: 54

ISBN-13:

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This paper details a method for implementing personal retirement accounts (PRAs) as a part of Social Security reform. The approach described here answers the following questions: how funds are collected and credited to each participants' retirement account; how money is invested; and how funds are distributed to retirees. It is designed to accommodate a variety of answers to a wide range of important policy questions; to minimize administrative costs and distribute those costs in a fair and reasonable way; to minimize the burden on employers, especially small employees who do not now maintain a qualified retirement plan; and to meet the expectations of Americans for simplicity, security, control, and independence in ways that are easy to explain and to understand. The system we describe relies on existing payroll and income tax mechanisms for collecting PRA funds and crediting PRA accounts. It provides two basic options for investments: (i) a simply system involving a limited number of funds sponsored by the Social Security Administration and managed by private companies, and (ii) privately sponsored funds with additional investment choices. It also provides two distribution alternatives if distributions are required to be annuitized: (i) an increase in Social Security benefits, and (ii) inflation-protected annuities provided directly to retirees by private companies.

Privatizing Social Security
Privatizing Social Security

Author: Martin Feldstein

Publisher: University of Chicago Press

Published: 2008-04-15

Total Pages: 484

ISBN-13: 0226241823

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This volume represents the most important work to date on one of the pressing policy issues of the moment: the privatization of social security. Although social security is facing enormous fiscal pressure in the face of an aging population, there has been relatively little published on the fundamentals of essential reform through privatization. Privatizing Social Security fills this void by studying the methods and problems involved in shifting from the current system to one based on mandatory saving in individual accounts. "Timely and important. . . . [Privatizing Social Security] presents a forceful case for a radical shift from the existing unfunded, pay-as-you-go single national program to a mandatory funded program with individual savings accounts. . . . An extensive analysis of how a privatized plan would work in the United States is supplemented with the experiences of five other countries that have privatized plans." —Library Journal "[A] high-powered collection of essays by top experts in the field."—Timothy Taylor, Public Interest

Model Rules of Professional Conduct
Model Rules of Professional Conduct

Author: American Bar Association. House of Delegates

Publisher: American Bar Association

Published: 2007

Total Pages: 216

ISBN-13: 9781590318737

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The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.