{"title":"混合退休计划:可接受的妥协和长期解决方案","authors":"Brandes Institute","doi":"10.2139/ssrn.2659329","DOIUrl":null,"url":null,"abstract":"Americans are rapidly losing their pensions — replaced by savings plans disguised as retirement plans. Many sponsors view defined contribution (DC) plans as the best option for retaining some of the features of a pension plan without bearing all of the costs and risks of DB. This paper explores how hybrid plans offer a more flexible approach to retirement plans by bringing together the best features of both DB and DC. This paper explores how: • Hybrid plans offer a flexible third option — taking advantage of the best features of DB and DC plans, including: • A shared-risk approach • Stable cost • Guaranteed lifetime benefits • Professional management • Hybrid plans — and how they balance sponsor and beneficiary responsibilities — differ materially and hence provide flexibility. • A hybrid plan can limit participant biases and may help increase contributions and reduce investment risk. • Hybrid plans use professional management that can look beyond short-term volatility to focus on maximizing return potential (e.g., greater exposure to equities and higher yielding bonds). • Hybrids pool individual participants’ assets, helping counter longevity risk.","PeriodicalId":39542,"journal":{"name":"Social Security Bulletin","volume":"177 1","pages":""},"PeriodicalIF":0.0000,"publicationDate":"2014-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Hybrid Retirement Plans: Acceptable Compromises and Long-Term Solutions\",\"authors\":\"Brandes Institute\",\"doi\":\"10.2139/ssrn.2659329\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Americans are rapidly losing their pensions — replaced by savings plans disguised as retirement plans. Many sponsors view defined contribution (DC) plans as the best option for retaining some of the features of a pension plan without bearing all of the costs and risks of DB. This paper explores how hybrid plans offer a more flexible approach to retirement plans by bringing together the best features of both DB and DC. This paper explores how: • Hybrid plans offer a flexible third option — taking advantage of the best features of DB and DC plans, including: • A shared-risk approach • Stable cost • Guaranteed lifetime benefits • Professional management • Hybrid plans — and how they balance sponsor and beneficiary responsibilities — differ materially and hence provide flexibility. • A hybrid plan can limit participant biases and may help increase contributions and reduce investment risk. • Hybrid plans use professional management that can look beyond short-term volatility to focus on maximizing return potential (e.g., greater exposure to equities and higher yielding bonds). • Hybrids pool individual participants’ assets, helping counter longevity risk.\",\"PeriodicalId\":39542,\"journal\":{\"name\":\"Social Security Bulletin\",\"volume\":\"177 1\",\"pages\":\"\"},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2014-05-01\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Social Security Bulletin\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.2139/ssrn.2659329\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q3\",\"JCRName\":\"Social Sciences\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Social Security Bulletin","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.2139/ssrn.2659329","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"Social Sciences","Score":null,"Total":0}
Hybrid Retirement Plans: Acceptable Compromises and Long-Term Solutions
Americans are rapidly losing their pensions — replaced by savings plans disguised as retirement plans. Many sponsors view defined contribution (DC) plans as the best option for retaining some of the features of a pension plan without bearing all of the costs and risks of DB. This paper explores how hybrid plans offer a more flexible approach to retirement plans by bringing together the best features of both DB and DC. This paper explores how: • Hybrid plans offer a flexible third option — taking advantage of the best features of DB and DC plans, including: • A shared-risk approach • Stable cost • Guaranteed lifetime benefits • Professional management • Hybrid plans — and how they balance sponsor and beneficiary responsibilities — differ materially and hence provide flexibility. • A hybrid plan can limit participant biases and may help increase contributions and reduce investment risk. • Hybrid plans use professional management that can look beyond short-term volatility to focus on maximizing return potential (e.g., greater exposure to equities and higher yielding bonds). • Hybrids pool individual participants’ assets, helping counter longevity risk.