Author: Samuel H. Williamson
Publisher: World Bank Publications
ISBN:
Category : Pensions
Languages : en
Pages : 32

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Author: Samuel H. Williamson
Publisher:
ISBN:
Category :
Languages : en
Pages : 21

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Author: Williamson
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Author: H. Samuel Williamson
Publisher:
ISBN:
Category :
Languages : en
Pages :

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November 1995 A survey of the development of pensions in the United States, addressing such issues as what employees want from pensions, what incentives the employer has to create pensions, and what desirable effects industrial pensions have on the economy. Pensions are retirement insurance: They offer protection in case you live long enough to quit collecting a paycheck and can stop working. In the United States, pensions are provided by both public and private sectors. Private sector pension funds are the largest formal financial institution for life-cycle saving, with assets of trillions of dollars. Pensions developed when more traditional forms of life-cycle saving became more difficult to carry out, job tenure increased, and there was a movement away from the spot labor market. Employers wanted to create a stable, experienced work force that was reluctant to leave -- that is, a stock of firm-specific human capital. Thus they had an incentive to create a deferred wage. And workers wanted retirement insurance that was secure. As developing countries begin to employ an older work force with longer job tenure, the demand for defined benefit pensions will rise. Which institution can best provide pensions: the employer, a financial intermediary, or the state? If markets fluctuate because of financial instability, workers will prefer defined benefit plans, and they will want them to be provided by the institution in which they have the most faith. Funding is important in the long run. Sound accounting practices would dictate that the cumulative reserves match pension liabilities as they accumulate. The regular contribution to these funds would be the deferred part of the wage. But historically, in the United States, pensions were funded only when profits were high or tax incentives or regulation dictated. Developing countries will need a sound corporate tax structure and must be willing to forgo some immediate tax revenue, to create a large pension savings fund. This paper -- a joint product of the Finance and Private Sector Development Division, Policy Research Department, and the Financial Sector Development Department -- was presented at a Bank seminar, Financial History: Lessons of the Past for Reformers of the Present, and is a chapter in a forthcoming volume, Reforming Finance: Some Lessons from History, edited by Gerard Caprio, Jr. and Dimitri Vittas.

Author: Robert Louis Clark
Publisher: University of Pennsylvania Press
ISBN: 9780812237146
Category : History
Languages : en
Pages : 280

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From the Wharton School, offering a comprehensive assessment of the political and financial dimensions of public-sector pensions from the colonial period until the emergence of modern retirement plans in the twentieth century.

Author: Samuel H. Williamson
Publisher:
ISBN:
Category :
Languages : en
Pages : 21

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Author: National Industrial Conference Board
Publisher: New York : National Industrial Conference Board
ISBN:
Category : Old age pensions
Languages : en
Pages : 184

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Author: Jennifer Klein
Publisher: Princeton University Press
ISBN: 0691126054
Category : History
Languages : en
Pages : 369

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America's system of social insurance comes out of the politics of social provision and industrial relations. This study illuminates the contests to define the ideological and economic meaning of security, in terms of employment, health and pensions.

Author: C. Gillion
Publisher: International Labor Office
ISBN:
Category : Business & Economics
Languages : en
Pages : 808

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Book Description
By providing a balanced assessment and factual review of the praticalities and structure behind various pension schemes around the world, this book assists decision-makers in forming effective, viable pension policy.

Author: Jennifer Klein
Publisher:
ISBN: 9780691070568
Category : Business & Economics
Languages : en
Pages : 354

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Book Description
"Looking closely at unions and communities, Klein uncovers the wide range of alternative, community-based health plans that had begun to germinate in the 1930s and 1940s but that eventually succumbed to commercial health insurance and pensions. She also illuminates the contests to define "security" - job security, health security, and old age security - following World War II.".