Read more
Zusatztext '...the book's positive and inspiring message is one the UK would do well to head.' (Pensions Age! September 2009). Informationen zum Autor Don Ezra is a widely published author. He has won a Graham and Dodd Award from the Financial Analysts Journal, the Roger Murray Prize from the Q Group in the United States, and the Lillywhite Award of the Employee Benefit Research Institute "for extraordinary life contributions to Americans' economic security." Bob Collie has been working with defined benefit and defined contribution plans in the United Kingdom and United States for more than twenty years, playing at different times the role of actuary, investment consultant, and strategist. Matthew X. Smith has been involved with the design, implemen-tation, administration, consultation to, and asset management of defined contribution plans for over twenty-five years. He has also written and spoken widely on defined contribution topics. Klappentext An effective answer to today's retirement planning dilemmaSince the 1980s, most employers have moved from defined benefit plans (DB) to defined contribution (DC) plans. The Retirement Plan Solution puts this inevitable transition into a global perspective and discusses what it means for those planning their retirement. This book provides a clear twofold solution to the problems that have popped up with the defined contribution plan. The first solution addresses the accumulation process in which the retiree is making and saving his or her money during the working years. The second solution addresses the decumulation process in which the retiree is spending his or her money during the retirement years.Don Ezra (New York, NY) is Global Director of Investment Strategy for Russell Investments. Bob Collie (Tacoma, WA) is Director of Investment Strategy for Russell Investments. Matthew X. Smith (Tacoma, WA) is Managing Director of Retirement Services for Russell Investments. Zusammenfassung An effective answer to today's retirement planning dilemma Since the 1980s, most employers have moved from defined benefit plans (DB) to defined contribution (DC) plans. The Retirement Plan Solution puts this inevitable transition into a global perspective and discusses what it means for those planning their retirement. Inhaltsverzeichnis Preface xiii Acknowledgments xix Introduction The Great American Retirement System? 1 Defined Benefit and Defined Contribution 2 The Dynamics of the Retirement Plan 3 Room for Improvement in the Accumulation Phase 4 The Right Sort of Education 5 Other Ways of Running Defined Contribution Plans 6 The Individual's Role in Decumulation 7 The Plan Sponsor's Role 8 A Final Thought: From Biggest to Best 9 Chapter 1 DC Version 2.0 11 Coming of Age 12 The New Retirement Superpower 13 Coming Soon to a Dictionary Near You: DBization 14 At the Heart of Version 2.0: A Different Objective 15 Income Replacement 15 Is This the First Nail in the Coffin of Defined Contribution? 16 "Hold on a Second . . ." 17 Part One The Dynamics of the Retirement Plan Chapter 2 More than You Ever Wanted to Know about Life Expectancy 21 What Is "Life Expectancy"? 21 How Life Expectancy Has Changed 22 But an Individual's Life Span Is Uncertain 23 Longevity Distributions: Let's Take a Look 26 What Does This Mean? 29 And Will Longevity Improve Even More? 30 Chapter 3 Retirement Is Expensive 31 The Goal Is a Targeted Level of Income Replacement 32 The Fundamental Pension Equation and the Defined Benefit System 33 A Simple Model of Retirement Plan Accumulation and Decumulation 34 Base Case Results 34 When to Start Saving 37 The Base Case May...
