Global Pension Crisis

Unfunded Liabilities and How We Can Fill the Gap

Author: Richard A. Marin

Publisher: John Wiley & Sons

ISBN:

Category: Business & Economics

Page: 240

View: 716

A comprehensive look at the crisis of unfunded pension liabilities and what must be done to avoid the same problem in the future As the generational bubble of the Baby Boomers begins to retire, it is increasingly evident that governments, corporations, and individuals have failed to adequately prepare for the obligations and needs of this giant cohort. Retirees are outliving actuarial life expectancies, pension liabilities are skyrocketing, pension plans are underfunded, and medical costs rise, the United States alone can expect unfunded liabilities to exceed $4 trillion. Even while the American economy shows signs of sustained recovery, states and local governments will still experience sharp increases in pension fund payments through the next year or longer. Global Pension Crisis looks at this situation and offers practical advice for retirement plan managers and financial advisors, while also explaining how to strengthen pensions and prevent similar crises in the future. Offers a clear and comprehensive explanation of the current pension crisis for retirement fund managers, financial advisors, and economists Includes prescriptive guidance on how to strengthen the pension fund system and prevent another similar crisis Written by venture capitalist, entrepreneur, and former senior Wall Street executive Rich Marin

Global Pension Crisis

Unfunded Liabilities and How We Can Fill the Gap

Author: Richard A. Marin

Publisher: John Wiley & Sons

ISBN:

Category: Business & Economics

Page: 240

View: 898

A comprehensive look at the crisis of unfunded pension liabilities and what must be done to avoid the same problem in the future As the generational bubble of the Baby Boomers begins to retire, it is increasingly evident that governments, corporations, and individuals have failed to adequately prepare for the obligations and needs of this giant cohort. Retirees are outliving actuarial life expectancies, pension liabilities are skyrocketing, pension plans are underfunded, and medical costs rise, the United States alone can expect unfunded liabilities to exceed $4 trillion. Even while the American economy shows signs of sustained recovery, states and local governments will still experience sharp increases in pension fund payments through the next year or longer. Global Pension Crisis looks at this situation and offers practical advice for retirement plan managers and financial advisors, while also explaining how to strengthen pensions and prevent similar crises in the future. Offers a clear and comprehensive explanation of the current pension crisis for retirement fund managers, financial advisors, and economists Includes prescriptive guidance on how to strengthen the pension fund system and prevent another similar crisis Written by venture capitalist, entrepreneur, and former senior Wall Street executive Rich Marin

Eat Play Poop: Rescuing Cecil

Author: Richard Marin

Publisher: Lulu.com

ISBN:

Category:

Page:

View: 659

This is the story of a rescue dog named Cecil. He was supposedly found on the streets of the Bronx, but has now found the high-life in a home in New York City and San Diego. It is the tale of CecilIs charmed life as told by the husband of CecilIs beloved and somewhat indulgent owner.

Pension Finance

Putting the Risks and Costs of Defined Benefit Plans Back Under Your Control

Author: M. Barton Waring

Publisher:

ISBN:

Category: Electronic books

Page: 288

View: 163

"Defined benefit pension plans are in a severe crisis. With nearly a $4 trillion deficit in the U.S. alone, Canada, the UK, Japan, and Holland also suffer from unfunded liabilities. In short, the pension crisis is nearly global in proportion, and there is little likelihood that plan sponsors will be able to come up with the funds to repair the damage. One of the major problems behind the crisis is the approach: pension plans use actuarial science as the basis of assumptions but are subject to the laws of economic finance in terms of their returns. In short, there is a gap between the world presumed by actuaries who determine funding levels and the world as it come to be as determined by market performance and investment outcomes. Waring tackles this thorny issue head on. Well versed in both economic and actuarial science, he walks professionals through the differences and shows why plan sponsors need to focus on the economic account perspective to meaningfully measure present values. Complete coverage of credit risk and the discount rate to determine liability values is examined, contribution levels are then presented based on this revised approach to actuarial accounting. Pension plan sponsors and their employee representatives must face the economics - and adjust their accounting and actuarial view - to gain a true perspective on achieving sustainable benefit levels. Waring is one of the first investment professionals to tackle this controversial topic head on to present realistic solutions to potentially catastrophic problems looming in the very near term"--

Market, State, and Society in Contemporary Latin America

Author: William C. Smith

Publisher: John Wiley & Sons

ISBN:

Category: Political Science

Page: 367

View: 338

"Market, State, and Society in Contemporary Latin America" explores fundamental issues in the political economy of the region in the early twenty-first century. The chapters in this volume deploy a variety of theoretical and methodological perspectives to understand the recent transformations in relations among market, state, and society in Latin American countries. Based on careful empirical research, the contributors go beyond popular state-centric explanations of economic policy-making in the region, emphasizing the centrality of state-society bargaining in the design and implementation of market-oriented restructuring. By the same token, the chapters in "Market, State and Society" also challenge simplistic argument about state decline, demonstrating the crucial role of differing configurations of domestic actors, interests and institutions in mediating the effects of globalization on welfare regimes, labor politics, and popular contestation.

2022 CFA Program Curriculum Level III Box Set

Author: CFA Institute

Publisher: John Wiley & Sons

ISBN:

Category: Business & Economics

Page: 3863

View: 646

Prepare for success on the 2022 CFA Level III exam with the latest official CFA® Program Curriculum. The 2022 CFA Program Curriculum Level III Box Set contains all the material you need to succeed on the Level III CFA exam in 2022. This set includes the full official curriculum for Level III and is part of the larger CFA Candidate Body of Knowledge (CBOK). Designed to acclimate you to the exam’s heavy reliance on information synthesis and solution application regarding portfolio management and wealth planning, the Level III curriculum will help you master both calculation-based and word-based problems. Highly visual and intuitively organized, this box set allows you to: Learn from financial thought leaders. Access market-relevant instruction. Gain critical knowledge and skills. The set also includes practice questions to assist with your recall of key terms, concepts, and formulas. Perfect for anyone preparing for the 2022 Level III CFA exam, the 2022 CFA Program Curriculum Level III Box Set is a must-have resource for those seeking the advanced skills required to become a Chartered Financial Analyst®.

Positioning Markets and Governments in Public Management

Author: Levine, Helisse

Publisher: IGI Global

ISBN:

Category: Business & Economics

Page: 294

View: 394

States and markets are integrated segments of government that rely on one another for efficient operation. Research on the workings and happenings among these two entities is essential to ensure optimal functioning of public management and the political economy. Positioning Markets and Governments in Public Management is an advanced reference publication featuring the latest scholarly research on modern-day issues within political economy. Including coverage on a range of topics such as public policy, healthcare, and immigration, this book is ideally designed for professionals, researchers, and students interested in research and frameworks concerning governments and markets.

The Goldwatcher

Demystifying Gold Investing

Author: John Katz

Publisher: John Wiley & Sons

ISBN:

Category: Business & Economics

Page: 352

View: 421

Why did the price of gold hit record highs in 2008? Take a look at the headlines - government bailouts of failed banks, mortgage and credit crises, rising inflation, slowing growth and global insecurity. In order to protect themselves from treacherous financial markets and depreciated paper currencies investors worldwide are turning to gold. Gold has long been used as money and as a store of wealth, but what's the source of its value? Why does that value sometimes rise so high and at other times fall so low? And what do we know about gold's complex and often tumultuous past that may yield clues about how it may behave in the future? Gold is a side show on a world financial stage dominated by the dollar. The tail can't wag the dog -gold prices are affected by changes in prospects for the dollar and not vice versa. With uncertain outcomes for the American and global economies, gold's stateless money franchise makes this book compelling reading. "John Katz is a clear eyed independent strategist and analyst with an extraordinary ability to get to grips with subjects ranging from biotechnology via alternative energy to commodities and gold. Uniquely for a commentator on gold he has no dogmas. To assess the risks and rewards that come with owning gold he introduces opinions from an impressive range of commentators, examines different scenarios that may play out on the world economic stage and highlights situations when owning gold makes sense and when it doesn't. To complete the picture Frank Holmes's contribution to The Goldwatcher explains the risks and rewards. The Goldwatcher has been written for 21st century investors. It will be an indispensable resource for responsible people from institutional money managers to private savers - whether the gold price moves up, down, or sideways." —Patrick H. Spencer, Managing Director, Head of Institutional Sales, Robert W. Baird Limited, London "Frank Holmes's stellar track record as a resource portfolio manager is a clear reflection of his understanding of the business, the markets and the factors that affect them. His success is as much about unearthing value as it is about creating an investment process that is religiously followed. If you want to succeed in your resource investment,this book is a must. It's all the more enjoyable because the writing style is easy-going,clear and understandable." —Pierre Lassonde, Former chairman, World Gold Council, and past president, Newmont Mining Corp This book is also supported by The Goldwatcher blog - http://wwwthegoldwatcher.com, which addresses news and developments affecting gold and the dollar, updates statistical information and links with sources for data and commentary.

The Value Mindset

Returning to the First Principles of Capitalist Enterprise

Author: Erik Stern

Publisher: John Wiley & Sons

ISBN:

Category: Business & Economics

Page: 452

View: 296

A groundbreaking book on building long-term wealth forstakeholders As creator of the Wealth Added Index (WAI), Stern Stewart's ErikStern has become a beacon for creating shareholder value within thecurrent storm of corporate malfeasance and poor performance. TheValue Mindset shows readers how to develop this way of thinking byblending individual manager incentives with the proper corporatestructure and the willingness to pursue value discipline over thelong term. Filled with practical concepts that have provedthemselves in the real world, this book shows readers how they cantransform a company into an organization that can deliver value andreturns to its shareholders. The Value Mindset helps readersdevelop this mindset-as well as implement it-by detailing themetrics that are necessary for any manager to measure and monitorvalue creation within the firm. Erik Stern (London, UK) is a Senior Vice President at Stern Stewart& Co., based in London. He has designed and implementedprograms for companies in several industries in the United Statesand Europe. Mike Hutchinson (London, UK) is a Vice President atStern Stewart & Co., based in London. He worked previously forthe BBC and the Consumers' Association.