Ying Gao's scientific contributions

Publications (15)

Chapter
This chapter considers two central questions in DC plan design: first, what types of DC plans provide the best chance of meeting the estimated cost of retirement; and secondly, how can plan fiduciaries evaluate default investment options in DC plans to determine which options are most likely to provide retirement success? In order to explore these...
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Defined contribution plans are a large and growing market globally, representing nearly half the world's estimated total pension assets. Today, workers are increasingly reliant on DC pension schemes to build their own retirement income; and employers, too, depend on DC plans to attract and retain talent. This chapter introduces the core concepts th...
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Over the past decades, DC plan design has evolved significantly. While early plans may have offered only a few investment choices, today participants often are able to select among a broad range of investment choices, typically with at least three of these being diversified (i.e., with materially different risk and return characteristics). In creat...
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Alternative investments provide the potential to improve outcomes for DC plan participants. Overall, a plan sponsor's mission with alternatives is to find incremental return potential and/or risk diversification away from mainstream stocks and bonds. This chapter looks at alternative strategies a plan fiduciary may consider to help participants ach...
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This chapter focuses on the "decumulation" or distribution phase, when DC plans can transform to delivering a retirement paycheck, and suggests that retirees may be best off creating a retirement income stream from their DC plan. It provides recommendations for plan sponsors as they work to retain retiree assets, including an approach and analytics...
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Capital preservation strategies, long a cornerstone in DC plans, are also among their most popular offerings. These strategies are meant to allow participants to prioritize the preservation of invested principal. Participants may also use them to help generate income, diversify other DC investments, or as a low-risk investment during volatile marke...
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Offering access to the equity markets within a defined contribution (DC) plan is fundamental—but what's challenging is determining the number and types of equity choices. This chapter reviews how equity options fit in DC plan design and what strategies are available and in use today, and how they may evolve in the future. It also considers the role...
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Selecting a plan's investment default is the most important investment decision plan fiduciaries will make. When a default is in place, plan participants may essentially hand over the investment decision-making reins to investment professionals. If a plan participant makes no investment election, his or her contributions are automatically allocated...
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This chapter considers the shift toward DC plans around the world, focusing on trends in plan design around the globe—all with the hope of helping countries improve retirement outcomes in a DC-dominant retirement world. While retirement programs evolve globally, this chapter notes the expectation that the shift to a DC structure will continue. Thre...
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Today, fixed income strategies are at the center of retirement investing. This chapter investigates the important role fixed income securities can play in DC plans, including the bond strategies DC plans offer today, what additional types of bonds may add value in plans and how plan fiduciaries may evaluate these strategies. The chapter also review...
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Inflation-hedging assets are one of four primary risk pillars in DC plans. Accordingly, inflation-fighting strategies are fundamental to DC investment lineups and participants' need to build and preserve purchasing power in retirement. Plan sponsors should evaluate inflation-hedging assets, separately and in combination, to determine how best to of...
Article
The prelims comprise: Half Title John Wiley Series Title Copyright Dedication Disclosure Contents Acknowledgments