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Managing Pension and Retirement PlansA Guide for Employers, Administrators, and Other Fiduciaries$
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August Baker, Dennis E. Logue, and Jack S. Rader

Print publication date: 2004

Print ISBN-13: 9780195165906

Published to Oxford Scholarship Online: July 2005

DOI: 10.1093/019516590X.001.0001

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What Pension Plans Do

What Pension Plans Do

(p.9) 2 What Pension Plans Do
Managing Pension and Retirement Plans

August Baker

Dennis E. Logue

Jack S. Rader

Oxford University Press

This chapter discusses the five basic justifications for pension plans: (i) they have significant tax advantages, (ii) they help people save for retirement, (iii) they help employers recruit the type of workers they want, (iv) they can be used as severance pay, to help restructure the workforce, and (v) they can increase productivity. Pension plans offer more qualitative than quantitative advantages for employers and employees. The features that employers want to emphasize should be manifested in the type and design of pension plans.

Keywords:   pension plans, employers, employees, retirement, recruitment, severance pay, employee productivity

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