The Pension Research Council
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Wharton: University of Pennsylvania 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.


Recreating Sustainable Retirement: Resilience, Solvency, and Tail Risk
Raimond Maurer, Olivia Mitchell, and P. Brett Hammond, Editors
October 2014

This book offers an in-depth analysis of the 'black swans' that threaten private and public pensions around the world such as capital market shocks, surprises to longevity, regulatory/political risk, and errors in modelling.

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Working Papers

Will They Take the Money and Work? An Empirical Analysis of People's Willingness to Delay Claiming Social Security Benefits for a Lump Sum
Raimond Maurer, Olivia S. Mitchell, Ralph Rogalla, and Tatjana Schimetschek

Cognitive Constraints on Valuing Annuities
Jeffrey R. Brown, Arie Kapteyn, Erzo F.P. Luttmer, and Olivia S. Mitchell

Optimal Portfolio Choice in Retirement with Participating Life Annuities
Ralph Rogalla

» View all abstracts

News and Media

Download the latest PRC Newsletter [401K PDF]

Female Financial Advisers Sought as Boomers Need Planning

Urban Fiscal Stability and Public Pensions: Sustainability Going Forward (Part 1)

Time to Change the Conversation on Social Security

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Top Downloads of the Week

1. Borrowing from the Future: 401(k) Plan Loans and Loan Defaults
Timothy (Jun) Lu, Olivia S. Mitchell, Stephen P. Utkus, and Jean A. Young
2. Risk-sharing Alternatives for Pension Plan Design: An Overview and Case Studies
Anna M. Rappaport and Andrew Peterson
3. Profitable Prudence: The Case for Public Employer Defined Benefit Plans
Gary Anderson and Keith Brainard
4. Are Retirees Falling Short? Reconciling the Conflicting Evidence
Alicia H. Munnell, Matthew S. Rutledge, and Anthony Webb