Multiemployer pension plans in the United States are in dire financial straits. It’s estimated that the retirement plans of workers and retirees covered by these plans in the mining, retail trade, construction, transportation and other such sectors face a $54 billion shortfall today.…Read More
July 2019: Some of the leading names in pensions research have come together to create a new international association which aims to promote and advance high-quality social science research on pensions, aging, and retirement. The International Pension Research Association (IPRA) was formally announced earlier this month at the OECD. Led…Read More
The TIAA Institute & Boettner/Pension Research Council (PRC) Partnership Call for Proposals: Financial Wellness, Behavioral Insurance, and Retirement Planning Proposals due July 15, 2019, 5:00 p.m. EST The TIAA Institute is again partnering with the Wharton School’s Boettner Center/Pension Research Council at the University of Pennsylvania to fund innovative research…Read More
Olivia S. Mitchell and Elizabeth Kennedy discuss implications of the treasury department’s decision to allow employers to pay out retirees’ pensions with a one-time lump sum payment, thus reversing Obama-era guidance that had banned this practice. Listen to the full piece above. Interview begins at 3:35. This segment originally aired…Read More
The Pension Research Council is pleased to celebrate its 65th year of research and debate on key policy issues affecting pensions, social security, and other benefit plans. The PRC is known internationally for its interdisciplinary research on private pension and social security programs as well as related benefit plans in the United States and abroad. …Read More
In an interview with NBER, Prof. Olivia S. Mitchell discusses her work (abstract below) done with Prof. Raimond Maurer of Goethe University Frankfurt on older peoples’ willingness to delay social security claiming.…Read More
Public and private pension sinkholes are showing up all over the country, and we’re tumbling in. In Pittsburgh earlier this month, benefit cuts of 30 percent were announced for 21,000 retirees from UPS and other shipping companies.…Read More
Retirees face a declining defined benefit system (DB), at the same time as the average age of the U.S. population is rising, and many people are financially illiterate. Mitchell et al. (2017) focuses on a critical topic that does not receive enough consideration when advisors develop and implement financial planning paradigms. The book recognizes the interaction of capabilities, context, and tolls and discusses the aging brain, the use of advice, and other options for achieving goals and policy.…Read More
Financial market developments over the past decade have undermined what was once thought to be conventional wisdom about saving, investment, and retirement spending. How Persistent Low Returns Will Shape Saving and Retirement explores how the weak capital market performance predicted for the next several years will shape pension saving, investment, and decumulation plans.…Read More
Dr. Olivia S. Mitchell of the University of Pennsylvania’s Wharton School discussed her research interests, inspirations, and her views on the greatest challenges facing future retirees during an interview with Anita Mukherjee of the University of Wisconsin-Madison. Read the entire article here, or in the Journal of the Economics…Read More
