Modernizing the defined-benefit pension system

John M. Mulvey, Frank J. Fabozzi, William R. Pauling, Koray D. Simsek, Zhuojuan Zhang

Research output: Contribution to journalReview article

9 Scopus citations

Abstract

The defined-benefit pension system may not survive into the future absent changes in the current regulatory environment. A risk-based and anticipatory approach to evaluating pension trusts is proposed as a way to diminish the probability that large and insolvent companies will transfer their pension trusts to the Pension Benefit Guaranty Corporation. Because current difficulties are concentrated in a few industries, there will be severe problems in the future if the healthiest companies reduce their exposure to defined-benefit pensions.

Original languageEnglish (US)
Pages (from-to)73-82
Number of pages10
JournalJournal of Portfolio Management
Volume31
Issue number2
DOIs
StatePublished - Jan 1 2005

All Science Journal Classification (ASJC) codes

  • Accounting
  • Business, Management and Accounting(all)
  • Finance
  • Economics and Econometrics

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    Mulvey, J. M., Fabozzi, F. J., Pauling, W. R., Simsek, K. D., & Zhang, Z. (2005). Modernizing the defined-benefit pension system. Journal of Portfolio Management, 31(2), 73-82. https://doi.org/10.3905/jpm.2005.470580