skip to content
Economic Implications of ERISA Preview this item
ClosePreview this item
Checking...

Economic Implications of ERISA

Author: Peter Menell; Jeremy I Bulow; Myron S Scholes; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 1982.
Series: Working paper series (National Bureau of Economic Research), no. w0927.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Database:WorldCat
Summary:
If the intent of the Employee Retirement Income Security Act, ERISA, was to assure that beneficiaries of insolvent pension plans receive adequate pension benefits, sharp increases in nominal rates of interest have blunted that purpose. Without an increase in these rates, the Pension Benefit Guarantee Corporation, PBGC, the insurance agency established to guarantee benefits, faced large liabilities on the  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

 

Find a copy online

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Peter Menell; Jeremy I Bulow; Myron S Scholes; National Bureau of Economic Research.
OCLC Number: 756573706
Description: 1 online resource.
Series Title: Working paper series (National Bureau of Economic Research), no. w0927.
Responsibility: Jeremy I. Bulow, Myron S. Scholes, Peter Menell.

Abstract:

If the intent of the Employee Retirement Income Security Act, ERISA, was to assure that beneficiaries of insolvent pension plans receive adequate pension benefits, sharp increases in nominal rates of interest have blunted that purpose. Without an increase in these rates, the Pension Benefit Guarantee Corporation, PBGC, the insurance agency established to guarantee benefits, faced large liabilities on the terminations of pension plans. We examine the economics of pension funds and the funding of pension funds before and after the enactment of ERISA. The Act changed the economics of pension funds. The PBGC, the employer, and the employees have interests in the assets of the pension plan. The PBGC can tax corporations to pay off liabilities and to fund guaranteed benefits; employers can terminate pension plans or overfund them; employees can ask for more benefits or claim the assets in the fund. Although the PBGC insures benefits, the insurance agent forbears, not acting quickly to protect its own interests. To prevent potential huge increases in its liabilities, the PBGC could require that employers hedge the guaranteed benefits, and fund their increases in promised benefits. Given its policies, these requirements could protect the PBGC.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/756573706> # Economic Implications of ERISA
    a schema:Book, schema:CreativeWork, schema:MediaObject ;
   library:oclcnum "756573706" ;
   library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/42731211#Place/cambridge_mass> ; # Cambridge, Mass.
   library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
   schema:about <http://id.worldcat.org/fast/1715893> ; # Pension trust guaranty insurance
   schema:about <http://experiment.worldcat.org/entity/work/data/42731211#Organization/pension_benefit_guaranty_corporation> ; # Pension Benefit Guaranty Corporation
   schema:about <http://id.worldcat.org/fast/1204155> ; # United States
   schema:about <http://id.worldcat.org/fast/1057041> ; # Pension trusts
   schema:about <http://id.loc.gov/authorities/subjects/sh2008109029> ; # Pension trusts--United States
   schema:about <http://dewey.info/class/331.252/> ;
   schema:about <http://id.worldcat.org/fast/902116> ; # Economics
   schema:about <http://id.loc.gov/authorities/subjects/sh2010105397> ; # Pension trust guaranty insurance--United States
   schema:about <http://viaf.org/viaf/158243551> ; # Pension Benefit Guaranty Corporation.
   schema:bookFormat schema:EBook ;
   schema:contributor <http://viaf.org/viaf/15703156> ; # Peter Menell
   schema:contributor <http://viaf.org/viaf/135446122> ; # National Bureau of Economic Research.
   schema:contributor <http://viaf.org/viaf/95629812> ; # Myron S. Scholes
   schema:contributor <http://viaf.org/viaf/67528176> ; # Jeremy I. Bulow
   schema:datePublished "1982" ;
   schema:description "If the intent of the Employee Retirement Income Security Act, ERISA, was to assure that beneficiaries of insolvent pension plans receive adequate pension benefits, sharp increases in nominal rates of interest have blunted that purpose. Without an increase in these rates, the Pension Benefit Guarantee Corporation, PBGC, the insurance agency established to guarantee benefits, faced large liabilities on the terminations of pension plans. We examine the economics of pension funds and the funding of pension funds before and after the enactment of ERISA. The Act changed the economics of pension funds. The PBGC, the employer, and the employees have interests in the assets of the pension plan. The PBGC can tax corporations to pay off liabilities and to fund guaranteed benefits; employers can terminate pension plans or overfund them; employees can ask for more benefits or claim the assets in the fund. Although the PBGC insures benefits, the insurance agent forbears, not acting quickly to protect its own interests. To prevent potential huge increases in its liabilities, the PBGC could require that employers hedge the guaranteed benefits, and fund their increases in promised benefits. Given its policies, these requirements could protect the PBGC."@en ;
   schema:exampleOfWork <http://worldcat.org/entity/work/id/42731211> ;
   schema:inLanguage "en" ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/42731211#Series/nber_working_paper_series> ; # NBER working paper series ;
   schema:isPartOf <http://experiment.worldcat.org/entity/work/data/42731211#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
   schema:name "Economic Implications of ERISA"@en ;
   schema:productID "756573706" ;
   schema:publication <http://www.worldcat.org/title/-/oclc/756573706#PublicationEvent/cambridge_mass_national_bureau_of_economic_research_1982> ;
   schema:publisher <http://experiment.worldcat.org/entity/work/data/42731211#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
   schema:url <http://papers.nber.org/papers/w0927> ;
   wdrs:describedby <http://www.worldcat.org/title/-/oclc/756573706> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/42731211#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
   schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/42731211#Organization/pension_benefit_guaranty_corporation> # Pension Benefit Guaranty Corporation
    a schema:Organization ;
   schema:name "Pension Benefit Guaranty Corporation" ;
    .

<http://experiment.worldcat.org/entity/work/data/42731211#Place/cambridge_mass> # Cambridge, Mass.
    a schema:Place ;
   schema:name "Cambridge, Mass." ;
    .

<http://experiment.worldcat.org/entity/work/data/42731211#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/756573706> ; # Economic Implications of ERISA
   schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/42731211#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
   schema:hasPart <http://www.worldcat.org/oclc/756573706> ; # Economic Implications of ERISA
   schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://id.loc.gov/authorities/subjects/sh2008109029> # Pension trusts--United States
    a schema:Intangible ;
   schema:name "Pension trusts--United States"@en ;
    .

<http://id.loc.gov/authorities/subjects/sh2010105397> # Pension trust guaranty insurance--United States
    a schema:Intangible ;
   schema:name "Pension trust guaranty insurance--United States"@en ;
    .

<http://id.worldcat.org/fast/1057041> # Pension trusts
    a schema:Intangible ;
   schema:name "Pension trusts"@en ;
    .

<http://id.worldcat.org/fast/1204155> # United States
    a schema:Place ;
   schema:name "United States" ;
    .

<http://id.worldcat.org/fast/1715893> # Pension trust guaranty insurance
    a schema:Intangible ;
   schema:name "Pension trust guaranty insurance"@en ;
    .

<http://id.worldcat.org/fast/902116> # Economics
    a schema:Intangible ;
   schema:name "Economics"@en ;
    .

<http://viaf.org/viaf/135446122> # National Bureau of Economic Research.
    a schema:Organization ;
   schema:name "National Bureau of Economic Research." ;
    .

<http://viaf.org/viaf/15703156> # Peter Menell
    a schema:Person ;
   schema:familyName "Menell" ;
   schema:givenName "Peter" ;
   schema:name "Peter Menell" ;
    .

<http://viaf.org/viaf/158243551> # Pension Benefit Guaranty Corporation.
    a schema:Organization ;
   schema:name "Pension Benefit Guaranty Corporation." ;
    .

<http://viaf.org/viaf/67528176> # Jeremy I. Bulow
    a schema:Person ;
   schema:familyName "Bulow" ;
   schema:givenName "Jeremy I." ;
   schema:name "Jeremy I. Bulow" ;
    .

<http://viaf.org/viaf/95629812> # Myron S. Scholes
    a schema:Person ;
   schema:familyName "Scholes" ;
   schema:givenName "Myron S." ;
   schema:name "Myron S. Scholes" ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.