Valuation, Optimal Asset Allocation and Retirement Incentives of Pension Plans

S Sundaresan and F Zapatero

Working Papers from Columbia - Graduate School of Business

Abstract: We provide a framework in which we link the valuation and asset allocation policies of defined benefits plans with the lifetime marginal productivity schedule of the worker and the pension plan formula. In turn, we examine the retirement policies that are implied by the primitives of the model and the value of pension obligations.

Keywords: RETIREMENT; PENSION SCHEMES; OLD AGE BENEFITS (search for similar items in EconPapers)
JEL-codes: H55 J26 (search for similar items in EconPapers)
Pages: 31 pages
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:fth:colubu:96-18

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