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Managing Pension and Retirement Plans: A Guide for Employers, Administrators, and Other Fiduciaries » (New Edition)

Book cover image of Managing Pension and Retirement Plans: A Guide for Employers, Administrators, and Other Fiduciaries by August J. Baker

Authors: August J. Baker, Dennis E. Logue, Jack S. Rader
ISBN-13: 9780195165906, ISBN-10: 019516590X
Format: Hardcover
Publisher: Oxford University Press, USA
Date Published: October 2004
Edition: New Edition

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Author Biography: August J. Baker

The Brattle Group, Cambridge, Mass.

Oklahoma University

Financial Management Association

Book Synopsis

As the U.S. Population ages, retirement is becoming an increasingly important life stage. Pension and retirement plans are crucial to the financial well-being of older citizens and key determinants of their standard of living. Many varieties of pension plans are currently offered, and employers have an interest in these plans because a good pension plan can help an employer attract, retain, and motivate a competent workforce. In some cases, the employer's financial health can depend significantly on the financial health of its pension plan. When employers make decisions regarding pension and retirement plans, they are making decisions that have high stakes for both their employees and the employer itself. Poor decisions can lead to intense scrutiny, sometimes by the media or in the courtroom. Good pension decision making can provide a secure future for the employer and its employees.
Managing Pension and Retirement Plans: A Guide for Employers, Administrators and Other Fiduciaries covers the essential financial issues surrounding pension plans. It discusses investment policy and strategy, performance measurement, fiduciary responsibilities, and labor market issues, among other topics. Anyone responsible for any aspect of pension plan management will profit from reading this book.

Table of Contents

1An introduction to pension plans3
2What pension plans do9
3Designing the best pension plan15
4The prudent pension fiduciary : a pragmatic view26
5An overview of compliance for pension plans41
6Establishing pension investment policy49
7The asset allocation decision59
8The integrated approach to managing defined benefit plans71
9Asset allocation for defined benefit plans85
10Accounting for defined benefit plans112
11Investment policy and asset allocation for defined contribution plans131
12Employee stock ownership plans and company stock145
13Hybrid plans151
14Evaluating investment performance161
15Improving pension fund investment performance180
16Managing pension fund risk194
17Risk management strategies using derivative securities213
18Selecting and managing asset managers237
19Managing costs248
20People and the psychology of pension fund decisions256
21The pension plan as shareholder267
22The path to better pension plan management278
App. AA guide for the prudent fiduciary289
App. BGlobal investing for pension funds291
App. CExample of a multiemployer hybrid pension plan296
App. DMeasuring returns297
App. EAdjusting for risk305
App. FAn example of an equity swap hedge307
App. GManager selection309

Subjects