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Title: Innovations in Retirement Financing (Pension Research Council Publications) by Olivia S. Mitchell, Zvi Bodie, P. Brett Hammond, Stephen Zeldes, Wharton School Pension Research Council ISBN: 0-8122-3641-6 Publisher: University of Pennsylvania Press Pub. Date: February, 2002 Format: Hardcover Volumes: 1 List Price(USD): $49.95

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Summary: Book Overview
Comment: Only half of working Americans admit they have thought about saving for retirement, and many of those who do try to save, don't know if they are setting aside enough to support themselves in old age. How, then, can employees, their employers, and the public sector boost old-age financial security? The contributors to this volume--economists, financial advisers, and housing and benefits specialists --argue that a strong retirement income system requires attention not only to assets conventionally dedicated to retirement purposes such as pensions, but also to the broader determinants of retiree wealth including housing, health, longevity, and intellectual capital.

This book outlines key problems involved in reducing financial risks in retirement, and then it goes on to propose fresh solutions. These include cash-balance pension plans that combine features of traditional defined benefit pensions and increasingly popular defined contribution plans. Other novel approaches discussed include reverse-annuity mortgages permitting people to benefit from the value of their homes without actually selling them, various forms of annuities, and long-term care insurance. A framework chapter sets the stage by examining what retirement planning can be expected to accomplish and how planning reduces risks by hedging, insuring, and diversifying. This book should be required reading for all who seek to strengthen retirement decision-making and old age protection.

Olivia S. Mitchell is Executive Director of the Pension Research Council and International Foundation of Employee Benefit Plans Professor of Insurance and Risk Management at The Wharton School, University of Pennsylvania. Zvi Bodie is Professor of Finance at Boston University, P. Brett Hammond is Manager of Corporate Projects at TIAA-CREF. Stephen Zeldes is Benjamin Rosen Professor of Economics and Finance at Columbia University.

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Title: The Role of Annuity Markets in Financing Retirement by Jeffrey R. Brown, Olivia S. Mitchell, James M. Poterba, Mark J. Warshawsky ISBN: 0262025094 Publisher: MIT Press Pub. Date: 01 December, 2001 List Price(USD): $32.00