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Scale economies in private multi-employer pension systems

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Author Info

  • Olivia S. Mitchell
  • Emily S. Andrews

Abstract

This paper examines the efficiency of pension plan operations in the private sector, focusing on the relationship between plan size and administrative expenses of pension fund management. The authors estimate cost equations for multi-employer, defined benefit plans with funds held totally by a trust, using data from a stratified sample of plan reports for 1975 filed with the U.S. Department of Labor. Equations are estimated for individual industries and for the private sector as a whole. In all cases economies of scale in plan administration are evident, suggesting that policymakers should investigate measures to encourage plan consolidation in the private sector and perhaps in the public sector as well. (Abstract courtesy JSTOR.)

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Bibliographic Info

Article provided by ILR Review, Cornell University, ILR School in its journal ILR Review.

Volume (Year): 34 (1981)
Issue (Month): 4 (July)
Pages: 522-530

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Handle: RePEc:ilr:articl:v:34:y:1981:i:4:p:522-530

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Cited by:
  1. Stephen A. Woodbury & Daniel S. Hamermesh, . "Taxes, Fringe Benefits, and Faculty," Upjohn Working Papers and Journal Articles saw1992, W.E. Upjohn Institute for Employment Research.
  2. Steven G. Allen & Robert L. Clark & Daniel A. Sumner, 1984. "Post-Retirement Adjustments of Pension Benefits," NBER Working Papers 1364, National Bureau of Economic Research, Inc.
  3. repec:ese:iserwp:2000-14 is not listed on IDEAS
  4. Jacob Bikker, 2013. "Is there an optimal pension fund size? A scale-economy analysis of administrative and investment costs," DNB Working Papers 376, Netherlands Central Bank, Research Department.
  5. Martha Starr-McCluer & Annika Sunden, 1999. "Workers' knowledge of their pension coverage: a reevaluation," Finance and Economics Discussion Series 1999-05, Board of Governors of the Federal Reserve System (U.S.).
  6. Helen Higgs & Andrew C. Worthington, 2010. "Economies of Scale and Scope in Australian Superannuation Funds," Discussion Papers in Finance finance:201015, Griffith University, Department of Accounting, Finance and Economics.
  7. Alan L. Gustman & Olivia S. Mitchell & Thomas L. Steinmeier, 1993. "The Role of Pensions in the Labor Market," NBER Working Papers 4295, National Bureau of Economic Research, Inc.
  8. Olivia S. Mitchell, 1987. "Worker Knowledge of Pension Provisions," NBER Working Papers 2414, National Bureau of Economic Research, Inc.
  9. Jacob Bikker & Jan de Dreu, 2006. "Pension fund efficiency: the impact of scale, governance and plan design," DNB Working Papers 109, Netherlands Central Bank, Research Department.
  10. Mitchell, Olivia S., 1993. "Publicpension governance and performance : lessons for developing countries," Policy Research Working Paper Series 1199, The World Bank.

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