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Journal articles on the topic 'DB plan'

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Published: 10 December 2022

Last updated: 29 January 2023

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1

FARRELL, JAMES, and DANIEL SHOAG. "Asset management in public DB and non-DB Pension Plans." Journal of Pension Economics and Finance 15, no. 4 (January 20, 2015): 379–406. http://dx.doi.org/10.1017/s1474747214000407.

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AbstractState and local pension plans are increasingly moving from the traditional defined benefit (DB) model to non-DB models that generally allow for participant-directed investment. This shift has important implications for the management of the more than US$3 trillion in assets held to finance public employee retirement benefits. To investigate these implications, we introduce new data from a nationwide survey of public DB and non-DB plans and a unique data set on thousands of individual investors in the state of Florida's defined contribution (DC) plan. Using these sources, we explore how participant involvement in the public sector affects the distribution of asset class allocations, management fees, investment outcomes, and portfolio rebalancing at both the individual and aggregate levels. We found that there is little difference between the DB and non-DB plans in terms of asset mix, returns, and fees, except that DB plan have greater access and allocations to alternative investments. We also found that while the average individual DC plan participant allocated their asset similarly to the DB plan, black females and older white males, on average, invested on opposite tails of the risk spectrum.

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2

Perdue, Grady. "DROP:The Revenge of the DB Plan." Compensation & Benefits Review 32, no. 5 (September 2000): 54–58. http://dx.doi.org/10.1177/08863680022097939.

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3

Chen, Kai, and Mary R. Hardy. "The DB Underpin Hybrid Pension Plan." North American Actuarial Journal 13, no. 4 (October 2009): 407–24. http://dx.doi.org/10.1080/10920277.2009.10597566.

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4

MAURER, RAIMOND. "Integrated risk management for defined benefit pensions: models and metrics." Journal of Pension Economics and Finance 14, no. 2 (December 22, 2014): 151–60. http://dx.doi.org/10.1017/s1474747214000456.

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AbstractThe Pension Benefit Guaranty Corporation (PBGC) insures private sector defined benefit (DB) pension plans, when an employer becomes insolvent and is unable to pay the pension liabilities. In principle, the insurance premiums collected by PBGC should be sufficient to cover potential losses; this would ensure that PBGC could pay the insured benefits of terminated pension plan without additional external funding (e.g., from taxpayers). Therefore, the risk exposure of the PBGC from insuring DB pension plans arises from the probability of the employer insolvencies; and the terminating plans’ funding status (the excess of the value of the insured plan liabilities over the plan assets). Here we explore only the second component, namely the impact of plan underfunding for the operation of the PBGC. When a DB plan is fully funded, the PBGC's risk exposure for an ongoing plan is low even if the plan sponsor becomes insolvent. Thus the questions most pertinent to the PBGC are: what key risk factors can produce underfunding in a DB plan, and how can these risk factors be quantified? We discuss the key risk factors that produce DB pension underfunding, namely, investment risk and liability risk. These are interrelated and must be considered simultaneously in order to quantify the risk exposure of a DB pension plan. We propose that an integrated risk management model (an Integrated Asset/Liability Model) can help better understand DB pension plan funding risk. We also examine the Pension Insurance Modeling System developed by the PBGC in terms of its own use of some of the building blocks of an integrated risk management model.

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5

NYCE, STEVEN A. "Behavioral effects of employer-sponsored retirement plans." Journal of Pension Economics and Finance 6, no. 3 (October 29, 2007): 251–85. http://dx.doi.org/10.1017/s1474747207003101.

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AbstractMany organizations have either already terminated their defined benefit (DB) plans or are thinking about it, in order to offload the financial and regulatory risks these programs pose. But plan sponsors should think carefully about how their decision might affect their workers' commitment and productivity – and ultimately their organization's success.To answer those and other retirement questions, Watson Wyatt set out to learn how DB and defined contribution (DC) plans affect employees' workforce behavior and decisions. Watson Wyatt's Retirement Attitude Survey (WWRAS) found that, while most workers value both types of plans very highly, workers with DB plans generally appreciate their retirement programs significantly more than those with only a DC plan. This was particularly the case for those with a hybrid pension plan. This analysis found that retirement plan generosity and effective communication strongly affect a plan's perceived value to employees. This has important implications for plan sponsors, since greater plan appreciation is strongly linked to employee commitment. In fact, we found that workers covered by a defined benefit plan express a very strong commitment to their current employer, while DC plan coverage has no effect on employee commitment. This is partly owing to a selection effect, whereby firms with DB plans tend to attract more committed workers. However, even after controlling for the selection effect, DB plans exert an independent effect on the likelihood that employees will stay with their employer.

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Tsubaki, Masaaki. "VII. Data Driven Software Development Methodology of PLAN-DB." IEEJ Transactions on Electronics, Information and Systems 114, no. 6 (1994): 663–71. http://dx.doi.org/10.1541/ieejeiss1987.114.6_663.

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7

GOLDHABER, DAN, and CYRUS GROUT. "Which plan to choose? The determinants of pension system choice for public school teachers." Journal of Pension Economics and Finance 15, no. 1 (November 12, 2014): 30–54. http://dx.doi.org/10.1017/s1474747214000353.

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AbstractThis paper examines a natural experiment in which Washington State teachers were offered the opportunity to choose between enrolling in a traditional defined benefit (DB) plan and a hybrid plan with DB and defined contribution (DC) components. We find plan preference is weakly related to estimates of the relative financial benefits of being in either the DB or hybrid system and strongly related to teacher age. Importantly, we also find that the majority of teachers prefer the hybrid plan, and that teachers opting into the hybrid plan tend to be more effective based on student output measures of teacher productivity. These results suggest that policy shifts toward pension systems that include DC options do not necessarily make teaching a less desirable profession, particularly for the most productive employees.

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8

Hausman, Ken. "Board Backs Pilot Test Of DB Recruitment Plan." Psychiatric News 39, no. 8 (April 16, 2004): 6–89. http://dx.doi.org/10.1176/pn.39.8.0006.

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9

MITCHELL, OLIVIA S., and JANEMARIE MULVEY. "Potential implications of mandating choice in corporate defined benefit plans." Journal of Pension Economics and Finance 3, no. 3 (November 2004): 339–54. http://dx.doi.org/10.1017/s1474747204001805.

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The evolution of hybrid conversions has prompted a number of high-profile legal challenges. In response, policymakers have attempted to force companies transitioning from a traditional DB to a hybrid plan to offer all workers the open-ended choice of remaining in the old DB plan, versus switching to the new hybrid plan. This paper evaluates ‘winners’ and ‘losers’ under these plan conversions and estimates the cost to plan sponsors of such a mandate. We find that mandating choice could increase plan sponsors' pension expenses above their current cost for traditional defined benefit plans. In the end, rising costs of pensions could endanger plan sponsorship altogether. Policymakers seeking to mandate pension choice should take into account these possible undesirable outcomes of such a law.

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10

Chingos, Matthew M., and Martin R. West. "Which Teachers Choose a Defined Contribution Pension Plan? Evidence from the Florida Retirement System." Education Finance and Policy 10, no. 2 (April 2015): 193–222. http://dx.doi.org/10.1162/edfp_a_00158.

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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 plan, despite the fact that teachers not actively deciding within six months were defaulted into the DB plan. The share choosing the DC plan was higher among teachers with advanced degrees, math and science teachers, and teachers in charter schools. It was lower among special education teachers and especially among black and Hispanic teachers. There was only a slight relationship between plan choice and teacher value added to student achievement, with teachers in the bottom value-added quartile roughly 2 percentage points less likely to choose the DC option.

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11

Sidley, Pat. "South Africans to get AIDS plan." BMJ 334, no. 7594 (March 22, 2007): 606.2–607. http://dx.doi.org/10.1136/bmj.39157.713623.db.

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12

Takeuchi, Tomohiko, and Toshiaki Tachibanaki. "The differences in the economic effects between the DB plan and the DC plan." Journal of the Japanese and International Economies 18, no. 4 (December 2004): 551–64. http://dx.doi.org/10.1016/j.jjie.2004.07.002.

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13

D’Souza, Julia, John Jacob, (Deceased), and Barbara Lougee. "Cash Balance Pension Plan Conversions: An Analysis Of Motivations And Pension Costs." Journal of Applied Business Research (JABR) 29, no. 2 (February 13, 2013): 621. http://dx.doi.org/10.19030/jabr.v29i2.7662.

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In recent years, many corporations have replaced their traditional defined benefit (DB) pension plans with cash balance (CB) plans, which share many of the characteristics of defined contribution plans. This study provides empirical evidence on the characteristics of CB converters and the behavior of pension costs and obligations pre- and post-conversion. We find that CB converters are larger than firms that retain traditional DB plans as well as those that terminate DB plans. They are less profitable than the former, but more profitable than the latter. CB conversions are not associated with proxies for greater labor mobility (e.g., firm-specific employee turnover rate). They are associated with a workforce that is closer to retirement, on average, lending credence to the breach of implicit contract rather than the labor market hypothesis as a motivator of CB conversions. Consistent with this intuition, we document that CB converters recognize a reduction of unrecognized prior service costs in the year of conversion, consistent with a negative plan amendment. Unlike pre-conversion, pension costs and obligations are significantly lower for CB firms post-conversion than for a matched sample of firms retaining traditional DB plans. CB conversions are more popular than DB plan terminations among firms with overfunded pension plans in periods when expected return on plan assets is likely to be high, with a consequent positive effect on reported income.

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14

Charatan, Fred. "Hillary Clinton unveils plan for healthcare reform." BMJ 335, no. 7621 (September 27, 2007): 637.1–637. http://dx.doi.org/10.1136/bmj.39346.461597.db.

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15

Kilpatrick, Bob G. "Considering Jumping Ship? A Pirate Looks At Retirement." Contemporary Issues in Education Research (CIER) 4, no. 8 (August 15, 2011): 1. http://dx.doi.org/10.19030/cier.v4i8.5610.

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If youre like me, a senior faculty member at a public state university facing significant budget cuts, recently youve probably thought about leaving your current position for another faculty position in a different state. A possible reason for considering jumping ship is envisioning a clearer picture of your retirement as it nears on the horizon a retirement that does not look quite what you had projected ten years ago, due to the that fact that you elected the defined contribution (DC) plan (often referred to as an optional or alternate retirement plan at universities) rather than the traditional defined benefit (DB) state employee pension plan when you first arrived at your university 20-odd years ago (which was the right choice, at that time, given the information availablekeep reminding yourself of that), and then seeing the value of that retirement account drop considerably two-three years ago. Although your retirement account may have mostly recovered, there are still those lost years of growth that may have you second-guessing your previous decision. Alas, that decision cannot be undone, but a new decision can be created by moving to another state. It is this possible decision that is the topic of this paper. What factors should be considered in choosing between the traditional DB plan and the optional DC plan for an individual who cannot necessarily reach the maximum benefit under the DB plan?

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16

Burlingame, Harold W., and Michael J. Gulotta. "Case Study." Compensation & Benefits Review 30, no. 6 (November 1998): 25–31. http://dx.doi.org/10.1177/088636879803000605.

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The potential for using a cash balance pension plan as a restructuring tool is one reason it is gaining favor throughout corporate America. Another reason is that it can give employees a better understanding and appreciation of their retirement benefits. Both reasons are important at a time when companies are changing rapidly and sometimes downsizing and when employees are less likely to stay in one place long enough to anticipate reaping the rewards of a defined bene-fit plan. Cash balance plans combine some of the best features of defined contribution (DC) and defined benefit (DB) plans. For employers, they provide more flexibility than traditional DB plans and help companies achieve their strategic objectives. For employees, they better meet the needs of a changing workforce by delivering portable, easily understood benefits. Since 1985, more than 200 companies have replaced their DB pension plans with a cash bal-ance design. One of the newest and most enthu-siastic proponents is AT&T, which, with the help of consulting firm ASA, Inc., designed a cash bal-. ance plan to help meet its restructuring goals.

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17

GERRANS, PAUL, and GORDON L. CLARK. "Pension plan participant choice: Evidence on defined benefit and defined contribution preferences." Journal of Pension Economics and Finance 12, no. 4 (June 7, 2013): 351–78. http://dx.doi.org/10.1017/s1474747213000061.

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AbstractWe report analysis of voluntary switching from defined benefit (DB) to defined contribution (DC) plans in an environment best characterised as benign. Using a large Australian fund database we identify socio-demographic correlates and the macroeconomic circumstances associated with DB to DC switching. The age of participants is an important correlate of switching behaviour, suggesting a degree of risk tolerance previously not recognised in the literature. It is also noted, however, that this type of switching behaviour may involve secondary behaviour such that uncertainties of DC investment performance are managed by reference to an asset allocation formula that maps to the previous DB investment strategy.

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18

LAVIGNE, ANNE, and JESUS HERELL NZE-OBAME. "Securing pension benefits in DB private schemes with priority rules: an insight from contracting theory." Journal of Pension Economics and Finance 9, no. 1 (August 10, 2009): 25–42. http://dx.doi.org/10.1017/s147474720999014x.

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AbstractThis contribution aims at enriching the debate on the priority of unfunded pension rights in the case of a sponsoring firm's bankruptcy. Starting from the idea that pension promises in DB schemes are part of a financial contract between a sponsor and participants to a sponsored pension plan, we argue that plan participants are not ordinary creditors and should be given the same priority as other claimants in the event of underfunding and a sponsoring firm's bankruptcy. We build up a model consistent with this view, which gives room for more participants' involvement in pension fund management. We assume that the sponsoring firm chooses the optimal share of a pension fund deficit that it commits to cover in case of underfunding, while participants choose the contribution rates that maximize their expected utility. We show that two regimes govern the pattern of the relationship between the optimal level of funding chosen by the sponsor and the optimal contribution rates chosen by the plan participants. Allowing plan participants to determine their desired contribution rates gives the entrepreneur the proper incentive for funding the pension plan. In a certain way, our pension contract resembles a cash-balance contract and our model suggests that more security can be given to plan participants in their pension savings by offering them a cash-balance plan which states a priority of unfunded pension rights in case of a firm's bankruptcy.

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19

Moszynski, Peter. "WHO launches plan to fight drug resistant tuberculosis." BMJ 334, no. 7608 (June 28, 2007): 1340.2–1341. http://dx.doi.org/10.1136/bmj.39255.559653.db.

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20

Day, Michael. "Government's plan for NHS review gets mixed response." BMJ 335, no. 7610 (July 12, 2007): 61.1–61. http://dx.doi.org/10.1136/bmj.39269.588738.db.

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21

Tanne, Janice Hopkins. "Bush proposes plan to expand health insurance coverage." BMJ 334, no. 7587 (February 1, 2007): 225.1–225. http://dx.doi.org/10.1136/bmj.39108.481042.db.

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22

Qian, Linyi, Yang Shen, Wei Wang, and Zhixin Yang. "Valuation of risk-based premium of DB pension plan with terminations." Insurance: Mathematics and Economics 86 (May 2019): 51–63. http://dx.doi.org/10.1016/j.insmatheco.2019.01.012.

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23

Shimizu, Hidetoshi, Koji Sasaki, Takahiro Aoyama, Hiroyuki Tachibana, Yutaro Koide, Tohru Iwata, Tomoki Kitagawa, and Takeshi Kodaira. "Parotid gland dose reduction in the hippocampus avoidance whole-brain radiotherapy using helical tomotherapy." Journal of Radiation Research 63, no. 1 (November 27, 2021): 55–62. http://dx.doi.org/10.1093/jrr/rrab107.

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Abstract The present study aimed to reduce the parotid gland dose in the hippocampus avoidance with whole-brain radiotherapy (HA-WBRT) using the helical tomotherapy (HT). Ten patients who had previously undergone WBRT were randomly selected and enrolled in this study. During the treatment planning, two different techniques to the jaw were applied for each patient, namely, 1.0 cm fixed jaw and 2.5 cm dynamic jaw. To efficiently reduce the dose in the bilateral parotid glands, directional block (DB) mode was set. The DB is a function of a treatment planning system for the dose reduction in organs at risk. The standard HA-WBRT plan which did not reduce the parotid gland dose was also designed to compare the plan quality. Compared with the standard HA-WBRT plan, the parotid gland dose could be reduced by approximately 70% without extending the delivery time by adding the parotid gland on the DB mode to the dose constraint. In addition, the differences in dosimetric parameters observed between the plans employing the 1.0 cm fixed jaw and 2.5 cm dynamic jaw were almost negligible. Moreover, delivery time in the 2.5 cm dynamic jaw could be greatly reduced by 60% compared with that in the 1.0 cm fixed jaw.

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24

Ryu, Jong Mo, and Eun Chul Shin. "Database Construction Plan of Infrastructure Safety Inspection and In-depth Inspection Results." Journal of the Korean Geosynthetic Society 13, no. 4 (December 30, 2014): 133–41. http://dx.doi.org/10.12814/jkgss.2014.13.4.133.

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25

Siegel-Itzkovich, Judy. "Israel's anaesthetists protest at plan to expand role of nurses." BMJ 335, no. 7619 (September 13, 2007): 535.3–535. http://dx.doi.org/10.1136/bmj.39332.604954.db.

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26

Ramm, Karlie, Trudi Mannix, Yvonne Parry, and Mary P. (Caroline) Gaffney. "A Comparison of Sound Levels in Open Plan Versus Pods in a Neonatal Intensive Care Unit." HERD: Health Environments Research & Design Journal 10, no. 3 (September 28, 2016): 30–39. http://dx.doi.org/10.1177/1937586716668636.

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Objective: The objective of this study was to compare the noise levels recorded in two different neonatal intensive care unit (NICU) settings: a pod and an open plan NICU located in the same hospital. Background: The NICU is a busy environment with ambient noise levels that often exceed established recommendations. This noise deleteriously affects the physiological stability and developmental outcomes of sick and preterm infants. Pods have reduced numbers of cots (in this case, 6) compared to open plan NICUs (in this case, 11), yet the noise levels in pods have not been reported. Method: This study compared real-time decibel (dB) levels in an A-weighted scale, captured continuously by sound dosimeters mounted in both NICU settings for a period of 4 weeks: a pod setting and an open plan NICU. Researchers also collected observational data. Results: The average noise level recorded in the pod was 3 dBs less than in the open plan NICU. This result was statistically significant. However, dB recordings in both areas were over the recommended limits by 4–6 dBs, with isolated peaks between 74.5 dBs (NICU) and 75.9 dBs (pod). Observational data confirmed this correlation. Conclusions: Further research to evaluate interventions to decrease the noise levels in both settings are needed, especially during times of peak activity. Staff working in these settings need to be more aware that control of acoustic levels is important in the neuroprotection of neonates. Coupling this with careful consideration to structural components and evidence-based design planning may contribute to lowering dB levels in the NICU environment.

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27

SIEGMANN, ARJEN. "Minimum funding ratios for defined-benefit pension funds." Journal of Pension Economics and Finance 10, no. 3 (November 23, 2010): 417–34. http://dx.doi.org/10.1017/s1474747210000296.

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AbstractWe compute minimum nominal funding ratios for defined-benefit (DB) plans based on the expected utility that can be achieved in a defined-contribution (DC) pension scheme. Using Monte Carlo simulation, expected utility is computed for three different specifications of utility: power utility, mean-shortfall, and mean-downside deviation. Depending on risk aversion and the level of sophistication assumed for the DC scheme, minimum acceptable funding ratios are between 0.87 and 1.20 in nominal terms. For relative risk aversion of 5 and a DC scheme with a fixed-contribution setup, the minimum nominal funding ratio is between 0.87 and 0.98. The attractiveness of the DB plan increases with the expected equity premium and the fraction invested in stocks. We conclude that the expected value of intergenerational solidarity, providing time-diversification to its participants, can be large. Minimum funding ratios in real (inflation-adjusted) terms lie between 0.56 and 0.79. Given a DB pension fund with a funding ratio of 1.30, a participant in a DC plan has to pay a 2.7 to 6.1% point higher contribution on average to achieve equal expected utility.

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28

Timmins, Nicholas. "Government pushes ahead with plan for cheaper drugs deal for NHS." BMJ 335, no. 7614 (August 9, 2007): 273.1–273. http://dx.doi.org/10.1136/bmj.39300.405822.db.

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29

Gu, Yelei, David Kausch, Kristen Moore, and Virginia Young. "Balancing Income and Bequest Goals in a DB/DC Hybrid Pension Plan." Journal of Retirement 4, no. 3 (January 31, 2017): 51–62. http://dx.doi.org/10.3905/jor.2017.4.3.051.

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30

Kang, Jooyeon, and Kyung-Wook Cha. "Analysis of Pension Knowledge and Satisfaction: Comparison of DB and DC Plan." Consumer Policy and Education Review 10, no. 4 (December 31, 2014): 189–215. http://dx.doi.org/10.15790/cope.2014.10.4.189.

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31

Chen, An, and Filip Uzelac. "A risk-based premium: What does it mean for DB plan sponsors?" Insurance: Mathematics and Economics 54 (January 2014): 1–11. http://dx.doi.org/10.1016/j.insmatheco.2013.10.011.

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32

Stafford, Ned. "Row breaks out over German plan to test law on assisted suicide." BMJ 336, no. 7637 (January 24, 2008): 181.1–181. http://dx.doi.org/10.1136/bmj.39465.463356.db.

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33

Tanne, Janice Hopkins. "US health insurers propose expansion of cover, but plan is widely criticised." BMJ 333, no. 7579 (November 30, 2006): 1141.1–1141. http://dx.doi.org/10.1136/bmj.39048.354132.db.

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34

PANG, GAOBO, and MARK WARSHAWSKY. "Reform of the tax on reversions of excess pension assets." Journal of Pension Economics and Finance 8, no. 1 (September 2, 2008): 107–30. http://dx.doi.org/10.1017/s1474747208003703.

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AbstractThis study quantifies the possible consequences to stakeholders of reforms to the excise tax on reversions of excess pension assets. Under the US Pension Protection Act (PPA) of 2006, funding in defined benefit (DB) plans is likely to improve significantly. Many plans may become overfunded over time, owing to the shortfall amortizations mandated by the PPA, as well as to precautionary contributions by sponsors and to plan investment returns. This analysis shows that a more moderate excise tax rate together with a reasonable funding threshold for asset reversions would not only enable sponsors to spend the excess funds on other corporate needs, thereby lowering the cost of sponsorship of DB plans, but also would open a considerable revenue source for the government, with only a small increase in bankruptcy cost for the PBGC. Plan participants could also gain in an alternative reform, which would require a partial transfer of excess assets to them along with a still-lower reversion tax rate. These findings also hold for plan sponsors with various degrees of risk tolerance or only making the PPA-required minimum contributions.

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35

Day, Michael. "Plan to halve MRSA cases by 2008 is probably not achievable, memo says." BMJ 334, no. 7585 (January 18, 2007): 116.2–116. http://dx.doi.org/10.1136/bmj.39094.632697.db.

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36

Lee, Kyungchul, Yonggu Jang, Jihye Song, and Injoon Kang. "Construction and Utilization Plan of Steep Slope and Underground Spatial Information DB for Steep Slope Disaster Prevention." Journal of the Korean Geoenvironmental Society 15, no. 7 (July 1, 2014): 13–21. http://dx.doi.org/10.14481/jkges.2014.15.7.13.

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37

Yao, Rui, Weipeng Wu, and Cody Mendenhall. "Use of Advisors and Retirement Plan Performance." Journal of Financial Counseling and Planning 31, no. 2 (April 27, 2020): 342–56. http://dx.doi.org/10.1891/jfcp-18-00087.

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As defined contribution (DC) plans become more popular than defined benefit (DB) plans, American workers are increasingly responsible for their retirement savings. Because retirement plan participants' portfolio allocation is constrained by the available funds in the plan, the construction of a plan's investment menu has become extremely important. No research has evaluated fund selection in retirement plans or compared plans involving an advisor with self-directed plans. To fill this research gap, this study employs cross-sectional, nationwide data that include 5,570 retirement plans with 100 or more participants in 2013, 2014 and 2015. Results show that in most cases, using advisors is not related to plan performance. Plan sponsors should require advisors to periodically evaluate the performance of plans under their management using objective measures.

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Frank, Howard, Gerasimos (Jerry) Gianakis, and Milena I. Neshkova. "Critical Questions for the Transition to Defined Contribution Pension Systems in the Public Sector." American Review of Public Administration 42, no. 4 (April 28, 2011): 375–99. http://dx.doi.org/10.1177/0275074011406712.

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Unfunded liabilities of pension plans sponsored by state and local governments have drastically increased in the past few years. This article examines the potential challenges faced by states and municipalities in meeting their pension obligations and explores the cost and benefits of a switch from traditional defined benefit (DB) plans to defined contribution (DC) plans. The authors draw on the experience of the private sector to depict the potential cost savings for governments and the likely impacts on employees. The authors also identify several issues that are unique to governments if a shift in pension coverage plans is to occur. One of the attractions of public sector employment has been the generous benefits offered; the authors examine whether it will be harder to recruit people in the public sector if the government does not offer DB pensions. The authors explore equity issues and the effects of eroding political support for public sector DB systems in light of their demise in the private sector. The authors also address the issue of financial illiteracy in the work place and its impact on the human resource function in the context of DC plan implementation. Finally, the authors pose critical questions regarding DC plan rollout and its inherent difficulties.

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PONDS, EDUARD H. M., and BART VAN RIEL. "Sharing risk: the Netherlands' new approach to pensions." Journal of Pension Economics and Finance 8, no. 1 (May 28, 2008): 91–105. http://dx.doi.org/10.1017/s1474747207003447.

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AbstractThe solvency crisis in 2001–2004 urged Dutch pension funds to reconsider their final-pay plans with de facto unconditional indexation. Most pension funds switched to an average-wage plan with solvency-contingent indexation. This pension plan redesign was the outcome of a new compromise between the major stakeholders of Dutch pension funds. The redesign is of interest as it results in a hybrid combination of DB and DC. This new setting indeed greatly improves solvency risk management. Moreover, the new plan structure appears to be welfare-dominant compared to other collective plan settings and individual alternatives, as it improves the conditions for intergenerational risk sharing. However, drawbacks of the new plans are the lack of transparency and potential welfare loss for individuals because of the inherent contingent claim structure of the new plan. Moreover, the plan redesign has led to value redistribution from older to younger plan participants.

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40

Schneider, Moritz, Jan Selzer, Jörg Rissler, Andrea Wolff, and Florian Schelle. "Uncertainties of ISO 3382-3 sound pressure level quantities." Acta Acustica 5 (2021): 27. http://dx.doi.org/10.1051/aacus/2021022.

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The ISO 3382-3 standard uses the measurable sound pressure based parameters D2,S and Lp,A,S,4 m to describe the acoustic properties of open-plan offices. As yet however, no treatment of the measurement uncertainty of these parameters according to the Guide to the expression of Uncertainty in Measurement (GUM) is to be found in the peer-reviewed literature. This technical note therefore describes how the measurement uncertainty can be declared according to GUM. The mathematical framework presented here can be used and expanded by other laboratories to derive their own uncertainty estimates. It is also applied in this document to 44 measurements yielding combined uncertainties for D2,S of 0.55 dB ≤ $ {\sigma }_{c,{D}_{2,\mathrm{S}}}$ ≤ 0.67 dB and for Lp,A,S,4 m of 0.19 dB ≤ $ {\sigma }_{c,{L}_{p,\mathrm{A},\mathrm{S},4\enspace \mathrm{m}}}$ ≤ 0.83 dB. The implications of this result are discussed with regard to limit values in technical regulations.

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Thibodeau, Linda, and Issa Panahi. "Smartphone Technology: The Hub of a Basic Wireless Accessibility Plan." Hearing Journal 74, no. 4 (April 2021): 6,7. http://dx.doi.org/10.1097/01.hj.0000743696.05586.db.

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Lim, HanNa, and Jae Min Lee. "Retirement Income Sources and Subjective Financial Well-Being: A Comparison of Retirees and Non-Retirees." Journal of Financial Counseling and Planning 32, no. 3 (November 1, 2021): 517–34. http://dx.doi.org/10.1891/jfcp-19-00101.

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This study examined whether retirement income sources matter for the subjective financial well-being of retirees and the subjective retirement savings adequacy of non-retirees. Using nationally representative data from the 2017 Survey of Household Economics and Decisionmaking, the study found that while income from a defined benefit (DB) plan, defined contribution (DC) plan, and an individual retirement account (IRA) were positively related to the subjective financial well-being of retirees, income from employment and family were negatively related to their subjective financial well-being. Also, retirement preparation with a DB, DC, and IRA was positively related to subjective retirement savings adequacy for non-retirees. The moderating role of age in the relationship between the form of retirement savings for non-retirees and their subjective retirement savings adequacy was significant. Because of the growing importance of individual responsibility for retirement planning, the present study adds to the financial planning knowledge of financial practitioners, educators, and researchers.

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Cobb, J. Adam. "Managing the Conflicting Interests of Workers and Shareholders: Evidence from Pension-Assumption Manipulations." ILR Review 72, no. 3 (July 18, 2018): 523–51. http://dx.doi.org/10.1177/0019793918789155.

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Whereas research on corporate governance typically attends to the conflicting interests between shareholders and executives, in practice executives must frequently adjudicate the demands of multiple stakeholders. To investigate how executives cope with the divergent interests of workers and shareholders, the author examines how much firms claim they will earn on the assets in their defined benefit (DB) pension plans. In a DB arrangement, employees forgo wages in the present in order to receive postretirement income, and they rely on executives to properly fund and manage plan assets. Executives, however, can increase the amount they expect the firm to earn on plan assets, which increases firm earnings in the current period but may undermine workers’ retirement security if expectations do not match actual returns over time. The author shows that the influence and interests of employees and shareholders as well as the decision-making schemas of the CEO affect whether executives exercise this discretion.

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Yu, Jungyeon, Angie Kim, Sanghwan Bae, Dongwoo Cho, and Kee Han Kim. "HVAC Operation Schemes and Commissioning Process Resolving Stack Effect Problem and Adjusting According to Changes in the Environment: A Case Study in High-Rise Building in South Korea." Energies 14, no. 8 (April 19, 2021): 2299. http://dx.doi.org/10.3390/en14082299.

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Various problems often arise in high-rise buildings during the winter months due to the stack effect. In this study, the high-rise building of interest, located in South Korea, was experiencing constant loud noises in the winter due to the stack effect. Thus, we created a noise level reduction plan by creating a method for pressurizing the high-rise zones of the building according to outdoor conditions. To discover the appropriate pressurization operating modes, we applied a two-year commissioning process to the 50-story building of interest. The 1st- and 47th-floor elevator halls were identified to have the highest noise levels of all other floors. Prior to applying the reduction plan, the maximum noise level on the first floor with the HVAC system turned off was 85 dB(A) and with the HVAC system turned on it was 70 dB(A). Both values exceeded the criteria of 57 dB(A) for a lobby space of a commercial building. In the case of the 47th floor, the maximum noise level with the HVAC system turned off was 58.7 dB(A) and with the HVAC system turned off was 56.0 dB(A), despite the latter having increased airtightness performance and applying preliminary pressurization (i.e., HVAC operation mode 2). These values exceeded the criteria of 48 dB(A) for an elevator hall in a commercial building. Following this initial data, we determined to pressurize the high/mid-rise zones of the building according to the outdoor air temperature and wind velocity conditions, which we categorized into four types (i.e., HVAC operation mode 4). To this effect, the first-floor elevator hall’s maximum noise level was 56.6 dB(A), meeting the criteria, and the 47th-floor elevator hall’s maximum noise level was 49.5 dB(A), still exceeding the criteria but by an insignificant amount. Although the HVAC pressurization operation we utilized resulted in favorable results for the target building A, it may not be as effective in other new high-rise buildings, creating changes to the indoor air environment or to the energy costs in maintaining a building. However, for the purposes of resolving the stack effect, we believe that the commissioning process we took to optimize the HVAC operation that is presented here can be applied to other new and existing high-rise commercial buildings.

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Zhu, Xiaobai, Mary Hardy, and David Saunders. "FAIR TRANSITION FROM DEFINED BENEFIT TO TARGET BENEFIT." ASTIN Bulletin 51, no. 3 (July 29, 2021): 873–904. http://dx.doi.org/10.1017/asb.2021.17.

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AbstractTarget benefit (TB) plans that incorporate intergenerational risk sharing have been demonstrated to be welfare improving over the long term. However, there has been little discussion of the short-term benefits for members in a defined benefit (DB) plan that is transitioning to TB. In this paper, we adopt a two-step approach that is designed to ensure the long-term sustainability of the new plan, without unduly sacrificing the benefit security of current retirees. We propose a cohort-based transition plan for reducing intergenerational inequity. Our study is based on simulations using an economic scenario generator with some theoretical results under simplified settings.

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Banerjee, Sudipto. "A Piece of the Annuitization Puzzle:The Role of Plan Rules in Annuitization Decisions in DB and CB Plans." Journal of Retirement 2, no. 1 (June 30, 2014): 100–114. http://dx.doi.org/10.3905/jor.2014.2.1.100.

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Yusiana, Maria Anita, and Heru Suwardianto. "THE EFFECTIVENESS OF DEEP BREATHING AND SLOW STROKE BACK MASSAGE TO DECREASE THE BLOOD PRESSURE ON A PATIENT WITH HYPERTENSION." INDONESIAN NURSING JOURNAL OF EDUCATION AND CLINIC (INJEC) 1, no. 1 (March 13, 2018): 31. http://dx.doi.org/10.24990/injec.v1i1.49.

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Introduction: Many patients with hypertension have not got the proper treatment in controlling blood pressure (BP). The purpose of this study was to analyze the effectiveness of deep breathing (DB) and slow-stroke back massage (SSBM) in BP reduction to patients with hypertension. Method: The design was a True Experiment the Solomon Three-Group Design. Sampling technique was group randomized plan as many as 60 people. The treatment given was BP and SSBM. Blood pressure data retrieval used mercury spigmomanometer. Results: The results were ρ of BP values (systolic) was 0,000, while the value of ρ (diastolic) was 0,000. The value ρ of SSBM (systolic) was 0.000 while the value of ρ (diastolic) was 0.001. The statistical results of the effectiveness BP systolic reduction was the significant difference in both interventions with a control group with ρ = 0.000 and the most effective was the DB compare to SSBM with ρ = 0.05 (4.0 mmHg). While there are differences in BP diastolic reduction significantly in both interventions with the control group with ρ = 0.000 and the most effective was DB than SSBM with ρ = 0.01 (6.6 mmHg). Discussion: It can be concluded DB and SSBM are effective to lower BP (systolic mean difference of 9.3 mm Hg of DB and SSBM 5.3 mmHg, while diastolic mean DB 11.2 mmHg and SSBM. Keywords: deep breathing, slow stroke back massage, blood pressure, hypertension

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de Paulo, Wanderlei Lima, Oswaldo Luiz do Valle Costa, and Fabio Schenberg Frascino. "Discrete-time finite-horizon optimal ALM problem with regime-switching for DB pension plan." Applied Mathematical Sciences 10 (2016): 1643–52. http://dx.doi.org/10.12988/ams.2016.6383.

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Hongisto, Valtteri, and Jukka Keränen. "Comfort Distance—A Single-Number Quantity Describing Spatial Attenuation in Open-Plan Offices." Applied Sciences 11, no. 10 (May 18, 2021): 4596. http://dx.doi.org/10.3390/app11104596.

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ISO 3382-3 is globally used to determine the room acoustic conditions of open-plan offices using in situ measurements. The key outcomes of the standard are three single-number quantities: distraction distance, rD, A-weighted sound pressure level of speech, Lp,A,S,4m, and spatial decay rate of speech, D2,S. Quantities Lp,A,S,4m and D2,S describe the attenuation properties of the office due to room and furniture absorption and geometry. Our purpose is to introduce a new single-number quantity, comfort distance rC, which integrates the quantities Lp,A,S,4m and D2,S. It describes the distance from an omnidirectional loudspeaker where the A-weighted sound pressure level of normal speech falls below 45 dB. The study explains why the comfort criterion level is set to 45 dB, explores the comfort distances in 185 offices reported in previous studies. Based on published data, the rC values lie typically within 3 m (strong attenuation) and 30 m (weak attenuation). Based on this data, a classification scheme was proposed. The new quantity could benefit the revised version of ISO 3382-3.

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BESHEARS, JOHN, JAMES J. CHOI, DAVID LAIBSON, and BRIGITTE C. MADRIAN. "Behavioral economics perspectives on public sector pension plans." Journal of Pension Economics and Finance 10, no. 2 (April 2011): 315–36. http://dx.doi.org/10.1017/s1474747211000114.

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AbstractWe describe the pension plan features of the states and the largest cities and counties in the U.S. Unlike in the private sector, defined benefit (DB) pensions are still the norm in the public sector. However, a few jurisdictions have shifted toward defined contribution (DC) plans as their primary savings plan, and fiscal pressures are likely to generate more movement in this direction. Holding fixed a public employee's work and salary history, we show that DB retirement income replacement ratios vary greatly across jurisdictions. This creates large variation in workers’ need to save for retirement in other accounts. There is also substantial heterogeneity across jurisdictions in the savings generated in primary DC plans because of differences in the level of mandatory employer and employee contributions. One notable difference between public and private sector DC plans is that public sector primary DC plans are characterized by required employee or employer contributions (or both), whereas private sector plans largely feature voluntary employee contributions that are supplemented by an employer match. We conclude by applying lessons from savings behavior in private sector savings plans to the design of public sector plans.

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