Tag: pension plans
Abstract As state and local policymakers enact benefit cuts to reduce the cost of their pension systems, the life-cycle model suggests that workers will adjust by saving more on their own. But, whether workers actually respond to pension characteristics remains an open question. After all, income received far in the future may not be salient…
Candidly, I’m confused by our Department of Labor (DOL). On June 23 the DOL released a strongly worded rule for private pensions covered by the Employee Retirement Income Security Act of 1974 (ERISA) saying that: “It is unlawful for a fiduciary to sacrifice return or accept additional risk to promote a public policy, political, or…
