While financial planning students are expected to be able to understand client retirement plans, subtle differences in cost-of-living adjustments can have major impact on the success of client retirement plans. This teaching note compares the cost-of-living adjustments in the largest government sponsored retirement systems and a hypothetical…

The fiscal crisis in the states and localities that occurred during the Great Recession and continues in many parts of the country because of the persistent housing crisis put substantial pressure on governments to consider the efficiency of their spending. Public pensions gained substantial attention due to the need for governments to contribute…

In the first of two rounds of interviews, 12 Social Security Administration (SSA) beneficiaries, all of whom professed a desire to work, discussed their perspectives on barriers to employment. Two years later, 8 of the 12 engaged in a second round of interviews. Only 1 of the 8 participants had succeeded in becoming self-supporting. After a review…

Liguria has the oldest age structure in Europe because of a low birth rate and long lifespans and therefore is a very interesting laboratory region in which to experiment with active ageing policies. The generations that are now approaching retirement hold a high level of personal and professional resources; so the "new" elderly people…

This qualitative study was motivated by a sizeable number of school principals retiring early in South African schools. They either leave teaching for other careers or retire before the retirement age of sixty. It was then necessary to explore what factors, if any, made them leave school management and the teaching career. Sixteen school…

This paper discusses a study that explored the impact of the Lesotho Government pension scheme on the learning attitudes of pensioners. The recent introduction of the pension scheme means that old people have regained their status as breadwinners. They are no longer dependents but have become very resourceful members of the community. As a result…

There is a developing body of research suggesting low job satisfaction among teachers can lead to potential consequences for educators, students, and school districts (Darling-Hammond, 2010; Ladebo, 2005; Sarnek, Musser, Caskey, Olsen & Green, 2006; Wu & Short, 1996). There is also a growing concern about the number of teachers who are…

The "Annual Disability Statistics Compendium" is a publication of statistics about people with disabilities and about the government programs which serve them. The "Compendium" is designed to serve as a summary of government statistics. The 2016 "Annual Disability Statistics Compendium" was substantially revised and…

In the wake of recent events, especially the Great Recession of 2007-2009, affecting the economy, resulting in job losses, personal financial distress, and gloomy perceptions of their future well-being, many Americans are concerned about their financial quality of life in retirement. The media is replete with a plethora of advertisements for…

Europe faces an increase in the age of its natural population and a reduction in available labour force. The retirement of a highly qualified workforce, alongside a rise in demand for medium- and high-skilled workers, will likely result in labour shortages in several sectors and countries. The movement of qualified, third-country immigrants into…

Since 2002, public school teachers in Florida have been permitted to choose between a defined benefit (DB) and a defined contribution (DC) retirement plan. We exploit this unique policy environment to study new teachers' revealed preferences over pension plan structures. Roughly 30 percent of teachers hired between 2003 and 2008 selected the DC…

Population aging in Korea is projected to be the most rapid among Organisation for Economic Co-operation and Development (OECD) countries between 2000 and 2050. However, social spending in Korea remains low, reflecting Korea's relatively young population, limited health and long-term care insurance coverage, and immaturity of its pension system.…

We study the effect of incorporating heterogeneity into default rules by examining the choice between retirement plans at a firm that transitioned from a defined benefit (DB) to a defined contribution (DC) plan. The default plan for existing employees varied discontinuously depending on their age. Employing regression discontinuity techniques,…

Teacher benefits, once a sleepy question primarily of interest to actuaries, have become a flash point in the education debate. With individual states on the hook for tens or hundreds of millions in unfunded pension and health insurance obligations, state leaders are trying to determine the severity of the situation and the appropriate response.…

Throughout the twentieth century the population of the United States, as indeed the rest of the world, was growing older. Since 1900 the percentage of Americans 65 years of age and older has more than tripled (from 4 percent in 1900 to 13 percent in 2009), and the number has increased from 3 million to 40 million. "Between 2010 and 2050, the…