rdf-syntax-grammar
mods:
  schema location: http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
  title info:
    title: Pension finance
    sub title: putting the risks and costs of defined benefit plans back under your control
  name:
    name part: Waring, M. Barton.
    role:
      role term: creator
  type of resource: text
  genre: bibliography
  genre: Electronic books.
  origin info:
    place:
      place term: nju
    date issued: 2011
    issuance: monographic
  language:
    language term: eng
  physical description:
    form: remote
    extent: 1 online resource (xxxiv, 288 pages) : illustrations.
  abstract: "Defined benefit pension plans are in a severe crisis. With nearly a $4 trillion deficit in the U.S. alone, Canada, the UK, Japan, and Holland also suffer from unfunded liabilities. In short, the pension crisis is nearly global in proportion, and there is little likelihood that plan sponsors will be able to come up with the funds to repair the damage. One of the major problems behind the crisis is the approach: pension plans use actuarial science as the basis of assumptions but are subject to the laws of economic finance in terms of their returns. In short, there is a gap between the world presumed by actuaries who determine funding levels and the world as it come to be as determined by market performance and investment outcomes. Waring tackles this thorny issue head on. Well versed in both economic and actuarial science, he walks professionals through the differences and shows why plan sponsors need to focus on the economic account perspective to meaningfully measure present values. Complete coverage of credit risk and the discount rate to determine liability values is examined, contribution levels are then presented based on this revised approach to actuarial accounting. Pension plan sponsors and their employee representatives must face the economics - and adjust their accounting and actuarial view - to gain a true perspective on achieving sustainable benefit levels. Waring is one of the first investment professionals to tackle this controversial topic head on to present realistic solutions to potentially catastrophic problems looming in the very near term"--
  table of contents: Achieving Long Term Health for Pension Plans Using Improved Managerial Accounting Tools -- Today's Conventional Pension Finance Practices -- Measuring Meaningful Present Values -- The Full Economic Liability: The Off-Book Starting Point for Management of Pension Costs -- Core Principles of Pension Accounting: The Full Economic Liability Meets Accrual Accounting and Normal Costs -- Credit Risk and the Discount Rate -- Paying for the Plan -- Investment Strategy I: Liability-Relative Optimization -- Investment Strategy II: Managing Risks to the Plan's Surplus, to Pension Expense, and to Contributions Using the Liability-Matching Asset Portfolio -- Investment Strategy III: Risk Tolerance and the Decision to Hold Risky Assets Over and Above the Liability-Matching Asset Portfolio -- Investment Strategy IV: Asset/Liability Studies: The Conventional Approach -- A Retirement Party for the Required Rate of Return -- The Fully Generalized Pension Budget Identity -- Tough Love: Saving the Underfunded Pension Plan -- Public Policy Suggestions: Revising Accounting and Actuarial Standards for Pensions -- Beyond the Crisis: Making Better Management Decisions and Managing Plans at Lower Risk -- Variables and Terms Used in the Book -- Implicit Options in the Pension Plan -- Use of Protective Put Options in the Investment Strategy -- References -- About the Author.
  note: M. Barton Waring.
  note: Includes bibliographical references and index.
  subject:
    title info:
      title: Pensions management
  subject:
    title info:
      title: Pensions management
  subject:
    title info:
      title: Pensions management (Title)
  subject:
    topic: Pensions
    topic: Finance
  subject:
    topic: Pension trusts
    topic: Management
  subject:
    topic: BUSINESS & ECONOMICS
    topic: Personal Finance
    topic: Retirement Planning
  subject:
    topic: Pension trusts
    topic: Management
  subject:
    topic: Pensions
    topic: Finance
  classification: HD7091 .W27 2011eb
  classification: 331.25/24
  related item:
    title info:
      title: Pension finance
    name:
      name part: Waring, M. Barton.
    origin info:
      publisher: Hoboken, NJ : Wiley, 2011
    identifier: (DLC) 2011018496
  related item:
    title info:
      title: Wiley finance series ; 708
  identifier: 1118138368
  identifier: 9781118138366
  identifier: 9781118138335
  identifier: 1118138333
  identifier: 9781118138342
  identifier: 1118138341
  identifier: 1118106369
  identifier: 9781118106365
  identifier: 1118106377
  identifier: 9781118106372
  identifier: 9781119204725
  identifier: 1119204720
  identifier: 2011018496
  identifier: B9C09948-F343-47BB-BFC1-6604A602557F OverDrive, Inc.
  identifier: https://doi.org/10.1002/9781119204725
  record info:
    record content source: E7B
    record creation date: 110509
    record change date: 20170124070427.4
    record identifier: ocn769187485
    language of cataloging:
      language term: eng