The Pension Research Council
PRC Book

Pensions, Economics and Public Policy

Richard A. Ippolito
This 1986 volume by the former chief economist of the Pension Benefit Guaranty Corporation explores why defined benefit pensions were created and their economic impact on US labor and capital markets. The book also develops theories of pension underfunding prior to the 1974 ERISA legislation, suggesting that underfunding was a strategic management effort undertaken to give workers a stake in the long-term survivorship of the firm.

1986 · Dow Jones-Irwin · ISBN 0-87094-760-5