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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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Establishing Pension Investment Policy

Establishing Pension Investment Policy

(p.49) 6 Establishing Pension Investment Policy
Managing Pension and Retirement Plans

August Baker

Dennis E. Logue

Jack S. Rader

Oxford University Press

This chapter discusses the key elements of investment policy as they relate to asset pools of pension plans and the goals of funding pension liabilities in a cost-efficient manner for defined benefit plans, and of accumulation of wealth and providing retirement income for defined contribution plans. Pension investment policies should be put in writing to serve as guidelines for prudent decision-making. The most important policy that must be determined is the plan’s (or portfolio’s) tolerance for risk.

Keywords:   pension funds, pension plans, pension investment policy, diversification, investment management, risk

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