FINC 3340

1
FINC 3340

• Pension Funds

2
Pension Funds

• Private versus Public
• Funded versus Unfunded
• Defined Contribution or Defined Benefit
• Regulation ERISA and PBGC

3
Pension Funds and Shareholder Activism

• Pension Funds are now the largest institutional
  investors in the equities markets
• What is shareholder activism? Why should pension
  funds be active shareholders?

4
Social Security Reform

• Why is there so much concern about Social
  Security?
• What alternatives are proposed?
• individual accounts financed by portion of
  payroll taxes
• government investment of surplus in private
  markets
• personal accounts in addition to the payroll tax