Pension Research Council

The Pension Research Council of the Wharton School of the University of Pennsylvania is committed to generating debate on key policy issues affecting pensions and other employee benefits. We sponsor interdisciplinary research on the entire range of private pension and social security programs, as well as related benefit plans in the United States and around the world. Olivia S. Mitchell, International Foundation of Employee Benefit Plans Professor, is the Executive Director of the Council.

Reshaping Retirement Security
Raimond Maurer, Olivia S. Mitchell, and Mark Warshawsky, Editors
November 2012

This volume explores the lessons to be learnt for retirement planning and long-term financial security in view of the massive shocks to stock markets, labour markets, and pension plans resulting from the financial crisis. It aims to rethink retirement in the new economic era, including the resilience of defined contribution plans and how defined benefit plans reacted to the financial crisis.

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Dynamic Asset Allocation with Regime Shifts and Long Horizon CVaR-Constraints
Huy Thanh Vo and Raimond Maurer

The Economic Importance of Financial Literacy: Theory and Evidence
Annamaria Lusardi and Olivia S. Mitchell

Complexity as a Barrier to Annuitization: Do Consumers Know How to Value Annuities?
Jeffrey R. Brown, Arie Kapteyn, Erzo F. P. Luttmer, and Olivia S. Mitchell

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Financial Literacy Research Consortium

Saving Social Security: Why New Proposals Are Drawing Fire

President Obama looks to reduce Social Security cost of living increases with 'chained CPI'

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