中国大型国有企业企业年金计划模式研究
|
摘要
本文研究的主要目的是为我国企业年金的发展寻找合适的计划模式类型,论证在我国实行分段型企业年金计划是必要且可行的。该研究符合党中央改善民生、以人为本、构建社会主义和谐社会的要求,对应对我国老年化社会出现的新问题,深化养老体制改革,建立多层次养老保障体系有重要意义,是亟待解决、惠及亿万员工的重大课题。针对课题的特点,采用比较分析法、系统分析法、实证研究法、精算分析法相结合的研究方法。
首先,社会保障问题给我国的财政压力越来越大,多层次养老保障体系亟待建立。企业年金作为重要的第二支柱,目前仍没有找到合适的计划模式,这成为制约其快速发展的瓶颈。本文在企业年金的理论分析和对国内外企业年金制度状况分析的基础上,进一步研究了我国国有大中型企业建立企业年金的模式选择,提出应建立DB-DC分段型企业年金的观点。
其次,深入分析了DB型(待遇确定型,Defined Benefit)和DC型(缴费确定型,Defined Contribution)企业年金模型,对其优劣进行了比较研究。本文提出的DB-DC分段型企业年金计划既可以享受到DB型计划安全稳定的未来年金保障,又可以通过DC型计划来最大化收益,在降低总的风险的同时仍能够继续提供可观的养老金,是符合我国国有大中型企业特点的企业年金计划模式。本文建立了DB-DC分段型企业年金计划模型。DB-DC分段型企业年金计划模型在给付期的年金待遇是确定的,而在积累期的DC计划阶段由职工自己承担投资风险,因此会造成不同职工企业年金待遇水平的不一致。当进入DB阶段时,企业进行统一账户管理,企业会根据不同职工的不同积累水平设定不同的缴费率,积累额多的职工降低缴费率,积累额少的职工增加缴费率,来调整DC计划阶段所形成的差异。
再次,对DB-DC分段型企业年金财务运营模式、会计处理的各个阶段进行了系统研究。分段型企业年金的特殊性在会计假设、会计目标、会计原则、会计要素、会计环境等构成中都有体现,可以按照基金的投资运作过程分为筹资、投资运营和给付三个环节。本文根据账户积累额和替代率测算计划筹资额,规范了基金投资运作模式、管理模式、风险控制及补偿、投资监管等机制,标准化了基金给付的计发办法、权益授予、支付条件、支付方式、账户转移、结算和封存。在此基础上提出了分段型企业年金基金会计要素的确认、计量、记录及信息披露的处理模式,建立了一个完整的分段型企业年金计划财务会计体系。
最后,以内蒙古自治区包钢稀土高科技股份有限公司为研究对象,观测其在企业年金建立、运营和分配期间的财务状况,结合本文研究结果进行了实证研究。论证了DB-DC分段型企业年金方案的可行性和缴费模型的准确性,对大型国有企业执行待遇衔接方案进行了精算分析,确保方案的实施不会出现资金极度短缺问题,可以实现平稳过渡。
The main purpose of this study is to find a suitable model for the development of China's Employer’s Pension, to argue if it is necessary and feasible to develop the sub-type employer’s pension scheme in China. The study found the requirements of CPC Central Committee, to improve the livelihood of people, to exhibit the people-oriented ideology, to build a socialist harmonious society. With the emerging issues in aging society, it has an important significance for deepening pension reform and establishing the multi-level old-age security system. It is an urgent and major issue to resolve the benefit of hundreds of millions of employees. For the characteristics of the subject, we use the combination research methods, such as comparative analysis method, system analysis method, empirical research method, Actuarial Analysis, and so on.
First, the social security is more and more pressure to our growing finance, and the multi-level old-age security system need to be established urgently. As an important second pillar, it is still not found the right program model for the employer’s pension in China, which is a bottleneck to restrict its raped development. In this paper, based on the theoretical analysis of employer’s pension and the analysis of foreign pension system, we further study the pension mode selection for Chinese state-owned enterprises. And it is proposed to be established a DB-DC sub-type employer’s pension.
Secondly, we analysis of DB (Defined Benefit) type and DC (Defined Contribution) type employer’s pension model in-depth, and its advantages and disadvantages are compared also. In this paper, the DB-DC sub-type employer’s pension plan can not only be able to enjoy the security and stability to protect the future of pensions from DB-type plan, but also can maximize revenue, reduce overall risk in the same time, as the DC-type program, which will still be able to continue to provide substantial pension. So it is in line with China's state-owned large companies to establish their employer’s pension program. In this paper, the DB-DC sub-type employer’s pension plan model has been established also. In payment period, the treatment is determined; but in the accumulation phase, the investment risk has to be bear by the workers themselves. And so it will cause different levels of employer’s pension inconsistent treatment. When entering the DB phase, the enterprise will unify the account management, and the contribution rate will be different according to different levels of accumulation of account. The fewer amounts accumulated, the less contribution rate, and vice versa. And the contribution rate is a tool to adjust the difference from the DC planning stage.
Again, we study the financial business model and the various stages of accounting for the new DB-DC sub-type employer’s pension. The specialty of the sub-type pension is embodied in accounting, accounting assumptions, accounting principles, accounting elements and the composition of the accounting environment. And we can divide it into financing, investment operations and payment the operation accounting to the fund investment process. This paper has measured the amount of planned funding according to rate of accumulation and replacement. We form the fund investment mode of operation, management, risk control and compensation, investment and supervision mechanisms, and we also standardize the payment of the calculated and paid, rights granted, payment terms, payment, account transfer, clearing and storage. Based on this we propose some accounting elements of the employer’s pension, such as recognition, measurement, recording, disclosure, and information processing mode. So we establish a complete financial accounting system for the DB-DC sub-type employer’s pension.
Finally, we set the Inner Mongolia Baotou Steel Rare Earth High-tech Co., Ltd. as the research object, observe the financial situation during the period of establishment, operation and distribution. Combined with the results of this study, we conducted an empirical study. And we demonstrate the feasibility and accuracy of DB-DC sub-type payment model. We also conduct an actuarial analysis of bridging programs to ensure the implementation of the program, which will not be extreme shortage of funds and can achieve a smooth transition.
首先,社会保障问题给我国的财政压力越来越大,多层次养老保障体系亟待建立。企业年金作为重要的第二支柱,目前仍没有找到合适的计划模式,这成为制约其快速发展的瓶颈。本文在企业年金的理论分析和对国内外企业年金制度状况分析的基础上,进一步研究了我国国有大中型企业建立企业年金的模式选择,提出应建立DB-DC分段型企业年金的观点。
其次,深入分析了DB型(待遇确定型,Defined Benefit)和DC型(缴费确定型,Defined Contribution)企业年金模型,对其优劣进行了比较研究。本文提出的DB-DC分段型企业年金计划既可以享受到DB型计划安全稳定的未来年金保障,又可以通过DC型计划来最大化收益,在降低总的风险的同时仍能够继续提供可观的养老金,是符合我国国有大中型企业特点的企业年金计划模式。本文建立了DB-DC分段型企业年金计划模型。DB-DC分段型企业年金计划模型在给付期的年金待遇是确定的,而在积累期的DC计划阶段由职工自己承担投资风险,因此会造成不同职工企业年金待遇水平的不一致。当进入DB阶段时,企业进行统一账户管理,企业会根据不同职工的不同积累水平设定不同的缴费率,积累额多的职工降低缴费率,积累额少的职工增加缴费率,来调整DC计划阶段所形成的差异。
再次,对DB-DC分段型企业年金财务运营模式、会计处理的各个阶段进行了系统研究。分段型企业年金的特殊性在会计假设、会计目标、会计原则、会计要素、会计环境等构成中都有体现,可以按照基金的投资运作过程分为筹资、投资运营和给付三个环节。本文根据账户积累额和替代率测算计划筹资额,规范了基金投资运作模式、管理模式、风险控制及补偿、投资监管等机制,标准化了基金给付的计发办法、权益授予、支付条件、支付方式、账户转移、结算和封存。在此基础上提出了分段型企业年金基金会计要素的确认、计量、记录及信息披露的处理模式,建立了一个完整的分段型企业年金计划财务会计体系。
最后,以内蒙古自治区包钢稀土高科技股份有限公司为研究对象,观测其在企业年金建立、运营和分配期间的财务状况,结合本文研究结果进行了实证研究。论证了DB-DC分段型企业年金方案的可行性和缴费模型的准确性,对大型国有企业执行待遇衔接方案进行了精算分析,确保方案的实施不会出现资金极度短缺问题,可以实现平稳过渡。
The main purpose of this study is to find a suitable model for the development of China's Employer’s Pension, to argue if it is necessary and feasible to develop the sub-type employer’s pension scheme in China. The study found the requirements of CPC Central Committee, to improve the livelihood of people, to exhibit the people-oriented ideology, to build a socialist harmonious society. With the emerging issues in aging society, it has an important significance for deepening pension reform and establishing the multi-level old-age security system. It is an urgent and major issue to resolve the benefit of hundreds of millions of employees. For the characteristics of the subject, we use the combination research methods, such as comparative analysis method, system analysis method, empirical research method, Actuarial Analysis, and so on.
First, the social security is more and more pressure to our growing finance, and the multi-level old-age security system need to be established urgently. As an important second pillar, it is still not found the right program model for the employer’s pension in China, which is a bottleneck to restrict its raped development. In this paper, based on the theoretical analysis of employer’s pension and the analysis of foreign pension system, we further study the pension mode selection for Chinese state-owned enterprises. And it is proposed to be established a DB-DC sub-type employer’s pension.
Secondly, we analysis of DB (Defined Benefit) type and DC (Defined Contribution) type employer’s pension model in-depth, and its advantages and disadvantages are compared also. In this paper, the DB-DC sub-type employer’s pension plan can not only be able to enjoy the security and stability to protect the future of pensions from DB-type plan, but also can maximize revenue, reduce overall risk in the same time, as the DC-type program, which will still be able to continue to provide substantial pension. So it is in line with China's state-owned large companies to establish their employer’s pension program. In this paper, the DB-DC sub-type employer’s pension plan model has been established also. In payment period, the treatment is determined; but in the accumulation phase, the investment risk has to be bear by the workers themselves. And so it will cause different levels of employer’s pension inconsistent treatment. When entering the DB phase, the enterprise will unify the account management, and the contribution rate will be different according to different levels of accumulation of account. The fewer amounts accumulated, the less contribution rate, and vice versa. And the contribution rate is a tool to adjust the difference from the DC planning stage.
Again, we study the financial business model and the various stages of accounting for the new DB-DC sub-type employer’s pension. The specialty of the sub-type pension is embodied in accounting, accounting assumptions, accounting principles, accounting elements and the composition of the accounting environment. And we can divide it into financing, investment operations and payment the operation accounting to the fund investment process. This paper has measured the amount of planned funding according to rate of accumulation and replacement. We form the fund investment mode of operation, management, risk control and compensation, investment and supervision mechanisms, and we also standardize the payment of the calculated and paid, rights granted, payment terms, payment, account transfer, clearing and storage. Based on this we propose some accounting elements of the employer’s pension, such as recognition, measurement, recording, disclosure, and information processing mode. So we establish a complete financial accounting system for the DB-DC sub-type employer’s pension.
Finally, we set the Inner Mongolia Baotou Steel Rare Earth High-tech Co., Ltd. as the research object, observe the financial situation during the period of establishment, operation and distribution. Combined with the results of this study, we conducted an empirical study. And we demonstrate the feasibility and accuracy of DB-DC sub-type payment model. We also conduct an actuarial analysis of bridging programs to ensure the implementation of the program, which will not be extreme shortage of funds and can achieve a smooth transition.
引文
1周德铮.企业年金筹资模式的选择及核算.市场周刊,2006,(1):48-49
2姜奕慧,徐亮,田风.建立企业年金制度的重要意义.经济研究参考,2009,(3):35-36
3 Daneil J. Mitchell. A Brief Guide to Social Security Reform. the Heritage Foundation, August l997:22
4车昭益.培育发展企业年金市场构建可持续发展的多层次养老保障体系.广西金融研究, 2008,(8):68
5 United Nations Population Division, World Population Prospects: The2002 Revision, July 2003:56
6杨建莹.中国企业年金的改革与发展.上海金融,2008,(6):36-38
7金慧.发展企业年金制度,促进企业和谐发展.劳动保障世界,2008,(08):19-21
8吴燕.制约当前和远期我国企业年金发展的宏观视角分析.经济论坛,2007,(12):64～66
9 Douglass C.North. institutions. Journal of Economic Perspectives, 1991,no.1:15-21
10埃佛里特艾伦等.美国退休金计划(第8版).杨燕绥等译.经济科学出版社, 2002:215-216
11 T .Alin. Plan Pension USA, Prentice-Hall International. Inc., 1998:75-79
12 George E Rejda. Social Insurance and Economic Security. Prentice Hall, 1999:89-95
13 Russell L Olson, John Wiley Sons.The Independent Fiduciary. Inc., 1999:15-23
14 Michael A Hit R, Duane Irel and Robert E Hockessin. Strategic Management Competitiveness And Globalization. Machine Press, 2002:158-162
15 M. Haigh and F. J. De Graaf. The Implications of Reform-Oriented Investment for Regulation and Governance. Critical Perspectives on Accounting. 2009, 20(3): 399-417
16 Cigno. Is there a Social Security Tax Wedge?. Labour Economics. 2008, 15(1): 68-77
17 T. V. Eaton and J. R. Nofsinger. The Effect of Financial Constraints and Political Pressure On the Management of Public Pension Plans. Journal of Accounting and Public Policy. 2004, 23(3): 161-189
18 E. Philip Davis. Policy and Implementation Issues in Reforming Pension Systems.2001:45-52
19 E.Philip Davis. Regulation of Pension Fund Assets:32-35
20 D. Hainaut and P. Devolder. Management of a Pension Fund Under Mortality and Financial Risks. Insurance. 2007, 41(1): 134-155
21 Puustelli, L. Koskinen and A. Luoma. Bayesian Modelling of Financial Guarantee Insurance. Insurance. 2008, 43(2): 245-254
22 J. R. Brown, N. Liang and S. Weisbenner. Individual Account Investment Options and Portfolio Choice: Behavioral Lessons From 401(K) Plans. Journal of Public Economics. 2007, 91(10): 1992-2013
23 J. Xiao, Z. Hong and C. Qin. The Constant Elasticity of Variance (Cev) Model and the Legendre Transform–Dual Solution for Annuity Contracts. Insurance. 2007, 40(2): 302-310
24 J. Creedy and R. Guest. Changes in the Taxation of Private Pensions: Macroeconomic and Welfare Effects. Journal of Policy Modeling. 2008, 30(5): 693-712.
25 J. I. Conde-Ruiz and V. Galasso. The Macroeconomics of Early Retirement. Journal of Public Economics. 2004, 88(1): 1849-1869
26 L. J. H. Bettendorf and B. J. Heijdra. Population Ageing and Pension Reform in a Small Open Economy with Non-Traded Goods. Journal of Economic Dynamics and Control. 2006, 30(12): 2389-2424
27 J. H. Dulebohn, J. C. Molloy, S. M. Pichler and B. Murray. Employee Benefits: Literature Review and Emerging Issues. Human Resource Management Review. 2009, 19(2): 86-103
28 R. T. Baumann and H. H. Mrller. Pension Funds as Institutions for Intertemporal Risk Transfer. Insurance. 2008, 42(3): 1000-1012
29 J. Poterba, J. Rauh, S. Venti and D. Wise. Defined Contribution Plans, Defined Benefit Plans, and the Accumulation of Retirement Wealth. Journal of Public Economics. 2007, 91(10): 2062-2086
30 Jonathan Gruber, David Wise. Social security programs and retirement around the world. Journal of Political Economy, 1999(18)114-121
31 J. Selin and A. Stehlberg. Why Sweden'S Pension Reform was Able to be Successfully Implemented. European Journal of Political Economy. 2007, 23(4): 1175-1184
32 J. B. Williamson, S. A. Howling and M. L. Maroto. The Political Economy of Pension Reform in Russia: Why Partial Privatization?. Journal of Aging Studies. 2006, 20(2): 165-175
33 H. K. Poirson. Chapter 20 Financial Market Implications of India'S Pension Reform. International Finance Review. 2004, 8(7): 425-443
34 J. Dcaz-Giminez and J. Dcaz-Saavedra. Delaying Retirement in Spain. Review of Economic Dynamics. 2009, 12(1): 147-167
35 M. Zajicek, T. M. Calasanti and E. K. Zajicek. Pension Reforms and Old People in Poland: An Age, Class, and Gender Lens. Journal of Aging Studies. 2007, 21(1): 55-68
36 Nada Kakabadse, Andrew Kakabadse, Alex Kouzmin. Pension Fund Trustees: Role and Contribution. European Management Journal, 1995 Vol.21:3-5
37 Shah Hemant. Towards better regulation of private pension funds. World Bank Working Paper, 1997:129-160
38 F. De Jong. Pension Fund Investments and the Valuation of Liabilities Under Conditional Indexation. Insurance. 2008, 42(1): 1-13
39 R. Josa-Fombellida and J. P. Rincsn-Zapatero. Mean–Variance Portfolio and Contribution Selection in Stochastic Pension Funding. European Journal of Operational Research. 2008, 187(1): 120-137
40 L. Vereda, H. Lopes and R. Fukuda. Estimating Var Models for the Term Structure of Interest Rates. Insurance. 2008, 42(2): 548-559
41 H. L. Bakken, S. Lindset and L. H. Olson. Pricing of Multi-Period Rate of Return Guarantees: The Monte Carlo Approach. Insurance. 2006, 39(1): 135-149
42 R. Josa-Fombellida and J. P. Rincsn-Zapatero. Optimal Asset Allocation for Aggregated Defined Benefit Pension Funds with Stochastic Interest Rates. European Journal of Operational Research. 28(2): 173-189
43 M. Zajicek, T. M. Calasanti and E. K. Zajicek. Pension Reforms and Old People in Poland: An Age, Class, and Gender Lens. Journal of Aging Studies. 2007, 21(1): 55-68
44 L. A. Gajek. Axiom of Solvency and Portfolio Immunization Under Random Interest Rates. Insurance. 2005, 36(3): 317-328.
45 Patrick J Purcell. Older workers: employment and retirement trend. Monthly Labor Review, 2000:19-31
46 W. J. 1. Horneff, R. H. Maurer, O. S. Mitchell and L. Dus. Following the Rules: Integrating Asset Allocation and Annuitization in Retirement Portfolios. Insurance. 2008, 42(1): 396-408
47 R. P. M. M. Hoevenaars and E. H. M. Ponds. Valuation of Intergenerational Transfers in Funded Collective Pension Schemes. Insurance. 2008, 42(2): 578-593
48 Arun S Muraidhar著.沈国华译.养老基金管理创新.上海:上海财经大学出版社, 2001:25-59
49 H. Huang and A. J. G. Cairns. On the Control of Defined-Benefit Pension Plans. Insurance. 2006,38(1): 113-131
50 G. Bhandari and R. Deaves. Misinformed and Informed Asset Allocation Decisions of Self-Directed Retirement Plan Members. Journal of Economic Psychology. 2008, 29(4): 473-490
51 Krishnamurthi, Muraliidhar, Vander Wooden.养老金投资决策.瑞士:世界银行投资管理部, 1998:59-86
52 R. G. P. Frehen, R. P. M. M. Hoevenaars, F. C. Palm and P. C. Schotman. Regret Aversion and Annuity Risk in Defined Contribution Pension Plans. Insurance. 2008, 42(3): 1050-1061
53 Bodie Zvi, Alan Marcus and Robert Merton. Defined Benefit versus Defined Contribution Pension Plans: What are the Real Tradeoffs? Pensions Economics, 1988:18-60
54 R. Josa-Fombellida and J. P. Rincsn-Zapatero. Funding and Investment Decisions in a Stochastic Defined Benefit Pension Plan with Several Levels of Labor-Income Earnings. Computers & Operations Research. 2008, 35(1): 47-63.
55 Dennis Logue, Jack Rader.养老金汁划管理.北京:中国劳动保障出版社, 2003:1-2
56 F. Franzoni. Underinvestment Vs. Overinvestment: Evidence From Price Reactions to Pension Contributions. Journal of Financial Economics. 5500, 30(5): 1559-1580
57 S. Oak and M. C. Dalbor. Institutional Investor Preferences for Lodging Stocks. International Journal of Hospitality Management. 2008, 27(1): 3-11
58 F. De Jong. Pension Fund Investments and the Valuation of Liabilities Under Conditional Indexation. Insurance. 2008, 42(1): 1-13
59 Slunt,Joseph. Survey of Risk Management Practices for Pensions. New York University Stern School of Business. Unpublished Spring, 2005:25-26
60 S. Haberman and J. Sung. Optimal Pension Funding Dynamics Over Infinite Control Horizon When Stochastic Rates of Return are Stationary. Insurance. 2005, 36(1): 103-116
61 B. Ngwira and R. Gerrard. Stochastic Pension Fund Control in the Presence of Poisson Jumps. Insurance. 2007, 40(2): 283-292
62 H. Huang and A. J. G. Cairns. On the Control of Defined-Benefit Pension Plans. Insurance. 2006, 38(1): 113-131
63何伟.美国多雇主企业年金计划管理及启示.中国保险,2008,(01):135-138
64殷俊,张蕾.日本企业治理机制下的企业年金计划设计.财会通讯(学术版),2008,(07):12-13
65汪建强.英国企业年金的发展困境及对我国的启示.经营与管理,2007,(10):23-26
66唐鑛,王营.企业年金管理模式的国际比较及对我们的启示.甘肃社会科学,2008,(04):24-27
67殷俊.中国企业年金宏观管理模式选择与政府干预.学习与实践,2008,(08):40-45
68孙守清.加强中国企业年金监管的思考.经济与管理,2008,(08):62-63
69郭俊.析企业年金与基本养老保险、商业年金保险产品的区别.上海保险.2006(8): 37-39
70孙佳佳,张苏.保险公司参与企业年金市场的思考.时代经贸(中旬刊),2008,(S3):46-47
71胡秋明.企业年金的人力资源管理效应及其理论解释.财经科学.2006(10):61-68
72王健康.发展我国企业年金的难点及政策建议.浙江金融,2008,(04):11-13
73季晓东.企业年金会计制度变迁及发展建议.南京财经大学学报,2007,(01):18-19
74王隽.浅析我国企业年金发展的必要性和存在的问题.山西焦煤科技,2007,(7): 45～46
75左香乡,李连友.企业年金政府监管制度安排及策略分析.系统工程,2008,(04):40-45
76史丹丹,李曜.我国企业年金期权式管理费设计主张的效用分析.财经研究,2009,35(3):27-37
77杨义灿.我国企业年金投资管理中委托代理关系研究.现代管理科学.2006(8):26-28
78卞月华.“EET”:我国企业年金税收模式的选择.江苏商业会计.2006(3):38-39
79贾丽,贾博.企业年金信息披露探讨.对外经贸财会, 2005(4):23-25
80孙家和.我国企业年金制度对财务管理与财务会计的影响.国际经贸探索,2007,23(5):72-75
81陈航.企业年金基金财务风险分析与防范.就业与保障,2007,(3):26～28
82张毅.财务公司从事企业年金业务的研究.金融与经济,2006,(12):59～63
83劳动和社会保障部社会保险研究所.中国企业年金财税政策与运行.北京:中国劳动社会保障出版社, 2003
84张博,李成斌.新会计准则下的企业年金会计研究.合作经济与科技,2009,(02):21-24
85寇勇刚.我国企业年金会计制度浅析.金卡工程,2009,13(2):160
86傅剑,刘青.我国企业年金投资管理现状及对策分析.经济论坛,2009,(16):32～34
87李浩.企业年金投资的风险及其规避.经济管理,2008,(5):15-19
88姜亦峰.中国企业年金制度的税收政策讨论.生产力研究,2009,(5):54～56
89张亚琴.企业年金制度运行中的税收优惠政策问题.人口与经济,2008,(S1):25-26
90杨胜利.新形势下我国企业年金税惠问题思考.西南民族大学学报(人文社科版),2008, (05):36-38
91卫力.基于税收优惠激励视角的企业年金制度建立分析.生产力研究,2007,(08):87-89
92魏凤春,于红鑫.企业年金税收政策的分析框架.财经研究,2007,(08):15-18
93张晓东,张超.影响企业年金发展因素分析.中国社会保障,2007,(1):34～35
94 Qussie. Pension Reform and Private Pension Funds in Peru and Columbia Policy Research Working Paper. World Bank, Washington D C, 1998:17-25
95 D. M. McGill, K. N. Brown, J. J. Haley and S. J. Schieber. A Theory of the Consumption Function. 1996:156-159
96姜奕慧,徐亮.建立企业年金是养老保险制度改革的需要.中国国情国力,2008,(11):18-19
97李宏艳.企业年金研究述评.中国社会保障.2004(8):22-22
98朱飞.明天的奶酪:企业年金的历史,选择和运营模式.企业管理.2004(2):6-11
99 Muermann, O. S. Mitchell and J. M. Volkman. Regret, Portfolio Choice, and Guarantees in Defined Contribution Schemes. Insurance. 2006, 39(2): 219-229
100 Disney, Richard. Occupational Pension Schemes: Prospects and Reforms in the UK. Fiscal Studies, Vo116,Issue3:19-39
101 Ken Johnston, Shaw Forbes & John Hatem. A Comparison of State University Defined Benefit and Defined Contribution Pension Plans: a Monte Carlo Simulation. Financial Services Review 10:37-44
102 Alistair Byrne. Employee Saving and Investment Decisions in Defined Contribution pension Plans. Survey Evidence from the UK pension Institute September 2004:124-130
103孙华平.企业年金制度中的DB与DC管理模式比较分析.工业技术经济,2008,(12):104-105
104王晓军,毛娜.两种企业年金模式的比较及对我国的启示.广西大学学报:哲学社会科学版,2007, 29(2):11-14
105吴敏.企业年金运营模式选择对企业人力资源管理的影响.湖北省社会主义学院学报,2008, (01):20-23
106李巍.论我国企业年金模式的选择.保险研究.2006(9):23-25
107张士永,崔玉杰.ARMA(1,1)利息力下缴费确定型企业生存年金的精算现值模型.管理观察, 2008,(10):52-55
108张劲松,姜慧.我国企业年金会计核算的精算估计.商业经济,2008,(01):22-24
109 E. J. Elton, M. J. Gruber and C. R. Blake. Participant Reaction and the Performance of Funds Offered by 401(K) Plans. Journal of Financial Intermediation. 2007, 16(2): 249-271
110肖迎春.美国企业年金计划对我国企业年金制度的启示.金卡工程,2009,(01):12-13
111 K. B. Newbold, D. M. Scott, J. E. L. Spinney, P. Kanaroglou and A. Paez. Travel Behavior within Canada’S Older Population: A Cohort Analysis. Journal of Transport Geography. 2005, 13(4):340-351
112 J. Morgan. The Uk Pension System: The Betrayal by New Labour in its Neoliberal Global Context. Research in Political Economy. 2006, 23(3): 301-347
113 Government Actuary(2003), PPI(2003),Department of Employment:15-16
114 SMITH,S., McKAY, S. Employers' pension provision 2000 Research report. Department of Work and Pension, No.163:14-15
115熊景维.企业年金基金运作的安全性问题—斯图特贝克,英国企业年金误售和安然事件的启示.东方企业文化,2007,(9):19-23
116 Russell Mellon CAPS Fund Returns, 2004:12-13
117 British Household Panel Survey, 1992 to 1998 inclusive:21-23
118 Recent Developments in Foreign Public and Private Pensions. October 2003, March 2004, April2004, May 2004, Social Security Administration’s Office of Policy, USA.:65-68
119朱孟楠,喻海燕.企业年金制度发展及模式选择:日本的经验与启示.日本问题研究,2007, (03):15-19
120 Y. Tokuda and S. Hinohara. Geriatric Nation and Redefining the Elderly in Japan. International Journal of Gerontology. 2008, 2(4): 154-157
121张树新,何金颖,莫燕曹等.全球企业年金.北京:中国劳动和社会保障出版.2004:135-139
122吴燕.香港强积金制度对内地联合企业年金计划的启示.经济论坛,2007,(10):68-71
123 G. V. Engelhardt and A. Kumar. Employer Matching and 401(K) Saving: Evidence From the Health and Retirement Study. Journal of Public Economics. 2007, 91(10): 1920-1943
124 P. K. Chu. Performance Persistence of Pension Fund Managers: Evidence From Hong Kong Mandatory Provident Funds. International Finance Review. 2007, 8(2): 393-424
125王贞凉.中外企业年金制度的比较及启示.江汉论坛.2004(5):44-46
126 J. R. Brown, N. Liang and S. Weisbenner. Individual Account Investment Options and Portfolio Choice: Behavioral Lessons From 401(K) Plans. Journal of Public Economics. 2007, 91(10): 1992-2013
127 University of St. Andrews Superannuating and Life Assurance Scheme. Pensions Review for the year to 31, July, 2004.:1-3
128 Davis E.P., Steil B. Institutional investor, MIT Press, Forthcoming.2000:18-25
129 H. H. L. Jin, O. S. Mitchell and J. Piggott. Socially Responsible Investment in Japanese Pensions.Pacific-Basin Finance Journal. 2006, 14(5): 427-438
130 G. V. Engelhardt and A. Kumar. Money On the Table: Some Evidence On the Role of Liquidity Constraints in 401(K) Saving. Economics Letters. 2008, 99(2): 402-404
131殷俊,张蕾.日本企业治理机制下的企业年金计划设计.财会通讯(学术版),2008,(07):25-29
132何伟.美国多雇主企业年金计划管理及启示.中国保险,2008,(01):22-25
133汪建强.英国企业年金的发展困境及对我国的启示.经营与管理,2007,(10):74-75
134张维衡.政策决定发展:美国个人退休计划对中国年金业务发展的启示.证券时报,2005.7.4
135孙守清.香港强积金对中国大陆企业年金监管的启示.上海国资,2008,(04):45-46
136李连友,刘革.西方规制理论在我国年金基金监管中的运用.求索.2004(5):15-17
137郑秉文,齐传君.美国企业年金“三驾马车”监管体制的运行与协调.辽宁大学学报(哲学社会科学版),2008,(02):45-49
138杨义灿.我国企业年金投资管理中委托代理关系研究.现代管理科学2006(8):26-28
139王玥.美国企业年金制度发展中的政府作用.金融经济,2008,(16):36-39
140杨扬琴,戚巍.香港强积金制度对大陆企业年金制度的借鉴意义--从制度比较到前景展望.湖北经济学院学报:人文社会科学版,2007,4(6):66-67
141吕学静.日本社会保障制度.经济管理出版社.2000:56-58
142孙华平.企业年金制度中的DB与DC管理模式比较分析.工业技术经济,2008,(12):22-25
143孙雅静.基于DC模式下参保员工的企业年金权益保障问题及对策.时代经贸,2007,(S2):33-35
144 Stiffing Kidd. Investment Policy for Defined-Contribution Pesion Scheme Member Close to Retirement: An Analysis of the“lifestyle”Concept. North American Actuarial Journal, 2000,(01): 2-5
145 Robert L. Clark, Fred W. Munzenmaier. Impact of Replacing a Defined Benefit Pension with a Defined Contribution Plan or a Cash Balance Plan. North American Actuarial Journal, 2002,(05):32-55
146郑秉文.‘一开一降’适度调整年金和社保比例.中国证券报,2005.8.5
147于小东,吴佳琦.缴费确定型企业年金领取阶段的最佳策略.经济评论,2007,(10):141-147
148张俊.针对不同企业特点进行企业年金方案设计.保险研究, 2004,(12):36-39
149王延中.中国企业年金的制度设计与政策选择.社会保险制度, 2004,(04):33-36
150周江雄,刘建华,黎颖芳.生命表的构造理论.天津:南开大学出版社, 2001:123-198
2姜奕慧,徐亮,田风.建立企业年金制度的重要意义.经济研究参考,2009,(3):35-36
3 Daneil J. Mitchell. A Brief Guide to Social Security Reform. the Heritage Foundation, August l997:22
4车昭益.培育发展企业年金市场构建可持续发展的多层次养老保障体系.广西金融研究, 2008,(8):68
5 United Nations Population Division, World Population Prospects: The2002 Revision, July 2003:56
6杨建莹.中国企业年金的改革与发展.上海金融,2008,(6):36-38
7金慧.发展企业年金制度,促进企业和谐发展.劳动保障世界,2008,(08):19-21
8吴燕.制约当前和远期我国企业年金发展的宏观视角分析.经济论坛,2007,(12):64～66
9 Douglass C.North. institutions. Journal of Economic Perspectives, 1991,no.1:15-21
10埃佛里特艾伦等.美国退休金计划(第8版).杨燕绥等译.经济科学出版社, 2002:215-216
11 T .Alin. Plan Pension USA, Prentice-Hall International. Inc., 1998:75-79
12 George E Rejda. Social Insurance and Economic Security. Prentice Hall, 1999:89-95
13 Russell L Olson, John Wiley Sons.The Independent Fiduciary. Inc., 1999:15-23
14 Michael A Hit R, Duane Irel and Robert E Hockessin. Strategic Management Competitiveness And Globalization. Machine Press, 2002:158-162
15 M. Haigh and F. J. De Graaf. The Implications of Reform-Oriented Investment for Regulation and Governance. Critical Perspectives on Accounting. 2009, 20(3): 399-417
16 Cigno. Is there a Social Security Tax Wedge?. Labour Economics. 2008, 15(1): 68-77
17 T. V. Eaton and J. R. Nofsinger. The Effect of Financial Constraints and Political Pressure On the Management of Public Pension Plans. Journal of Accounting and Public Policy. 2004, 23(3): 161-189
18 E. Philip Davis. Policy and Implementation Issues in Reforming Pension Systems.2001:45-52
19 E.Philip Davis. Regulation of Pension Fund Assets:32-35
20 D. Hainaut and P. Devolder. Management of a Pension Fund Under Mortality and Financial Risks. Insurance. 2007, 41(1): 134-155
21 Puustelli, L. Koskinen and A. Luoma. Bayesian Modelling of Financial Guarantee Insurance. Insurance. 2008, 43(2): 245-254
22 J. R. Brown, N. Liang and S. Weisbenner. Individual Account Investment Options and Portfolio Choice: Behavioral Lessons From 401(K) Plans. Journal of Public Economics. 2007, 91(10): 1992-2013
23 J. Xiao, Z. Hong and C. Qin. The Constant Elasticity of Variance (Cev) Model and the Legendre Transform–Dual Solution for Annuity Contracts. Insurance. 2007, 40(2): 302-310
24 J. Creedy and R. Guest. Changes in the Taxation of Private Pensions: Macroeconomic and Welfare Effects. Journal of Policy Modeling. 2008, 30(5): 693-712.
25 J. I. Conde-Ruiz and V. Galasso. The Macroeconomics of Early Retirement. Journal of Public Economics. 2004, 88(1): 1849-1869
26 L. J. H. Bettendorf and B. J. Heijdra. Population Ageing and Pension Reform in a Small Open Economy with Non-Traded Goods. Journal of Economic Dynamics and Control. 2006, 30(12): 2389-2424
27 J. H. Dulebohn, J. C. Molloy, S. M. Pichler and B. Murray. Employee Benefits: Literature Review and Emerging Issues. Human Resource Management Review. 2009, 19(2): 86-103
28 R. T. Baumann and H. H. Mrller. Pension Funds as Institutions for Intertemporal Risk Transfer. Insurance. 2008, 42(3): 1000-1012
29 J. Poterba, J. Rauh, S. Venti and D. Wise. Defined Contribution Plans, Defined Benefit Plans, and the Accumulation of Retirement Wealth. Journal of Public Economics. 2007, 91(10): 2062-2086
30 Jonathan Gruber, David Wise. Social security programs and retirement around the world. Journal of Political Economy, 1999(18)114-121
31 J. Selin and A. Stehlberg. Why Sweden'S Pension Reform was Able to be Successfully Implemented. European Journal of Political Economy. 2007, 23(4): 1175-1184
32 J. B. Williamson, S. A. Howling and M. L. Maroto. The Political Economy of Pension Reform in Russia: Why Partial Privatization?. Journal of Aging Studies. 2006, 20(2): 165-175
33 H. K. Poirson. Chapter 20 Financial Market Implications of India'S Pension Reform. International Finance Review. 2004, 8(7): 425-443
34 J. Dcaz-Giminez and J. Dcaz-Saavedra. Delaying Retirement in Spain. Review of Economic Dynamics. 2009, 12(1): 147-167
35 M. Zajicek, T. M. Calasanti and E. K. Zajicek. Pension Reforms and Old People in Poland: An Age, Class, and Gender Lens. Journal of Aging Studies. 2007, 21(1): 55-68
36 Nada Kakabadse, Andrew Kakabadse, Alex Kouzmin. Pension Fund Trustees: Role and Contribution. European Management Journal, 1995 Vol.21:3-5
37 Shah Hemant. Towards better regulation of private pension funds. World Bank Working Paper, 1997:129-160
38 F. De Jong. Pension Fund Investments and the Valuation of Liabilities Under Conditional Indexation. Insurance. 2008, 42(1): 1-13
39 R. Josa-Fombellida and J. P. Rincsn-Zapatero. Mean–Variance Portfolio and Contribution Selection in Stochastic Pension Funding. European Journal of Operational Research. 2008, 187(1): 120-137
40 L. Vereda, H. Lopes and R. Fukuda. Estimating Var Models for the Term Structure of Interest Rates. Insurance. 2008, 42(2): 548-559
41 H. L. Bakken, S. Lindset and L. H. Olson. Pricing of Multi-Period Rate of Return Guarantees: The Monte Carlo Approach. Insurance. 2006, 39(1): 135-149
42 R. Josa-Fombellida and J. P. Rincsn-Zapatero. Optimal Asset Allocation for Aggregated Defined Benefit Pension Funds with Stochastic Interest Rates. European Journal of Operational Research. 28(2): 173-189
43 M. Zajicek, T. M. Calasanti and E. K. Zajicek. Pension Reforms and Old People in Poland: An Age, Class, and Gender Lens. Journal of Aging Studies. 2007, 21(1): 55-68
44 L. A. Gajek. Axiom of Solvency and Portfolio Immunization Under Random Interest Rates. Insurance. 2005, 36(3): 317-328.
45 Patrick J Purcell. Older workers: employment and retirement trend. Monthly Labor Review, 2000:19-31
46 W. J. 1. Horneff, R. H. Maurer, O. S. Mitchell and L. Dus. Following the Rules: Integrating Asset Allocation and Annuitization in Retirement Portfolios. Insurance. 2008, 42(1): 396-408
47 R. P. M. M. Hoevenaars and E. H. M. Ponds. Valuation of Intergenerational Transfers in Funded Collective Pension Schemes. Insurance. 2008, 42(2): 578-593
48 Arun S Muraidhar著.沈国华译.养老基金管理创新.上海:上海财经大学出版社, 2001:25-59
49 H. Huang and A. J. G. Cairns. On the Control of Defined-Benefit Pension Plans. Insurance. 2006,38(1): 113-131
50 G. Bhandari and R. Deaves. Misinformed and Informed Asset Allocation Decisions of Self-Directed Retirement Plan Members. Journal of Economic Psychology. 2008, 29(4): 473-490
51 Krishnamurthi, Muraliidhar, Vander Wooden.养老金投资决策.瑞士:世界银行投资管理部, 1998:59-86
52 R. G. P. Frehen, R. P. M. M. Hoevenaars, F. C. Palm and P. C. Schotman. Regret Aversion and Annuity Risk in Defined Contribution Pension Plans. Insurance. 2008, 42(3): 1050-1061
53 Bodie Zvi, Alan Marcus and Robert Merton. Defined Benefit versus Defined Contribution Pension Plans: What are the Real Tradeoffs? Pensions Economics, 1988:18-60
54 R. Josa-Fombellida and J. P. Rincsn-Zapatero. Funding and Investment Decisions in a Stochastic Defined Benefit Pension Plan with Several Levels of Labor-Income Earnings. Computers & Operations Research. 2008, 35(1): 47-63.
55 Dennis Logue, Jack Rader.养老金汁划管理.北京:中国劳动保障出版社, 2003:1-2
56 F. Franzoni. Underinvestment Vs. Overinvestment: Evidence From Price Reactions to Pension Contributions. Journal of Financial Economics. 5500, 30(5): 1559-1580
57 S. Oak and M. C. Dalbor. Institutional Investor Preferences for Lodging Stocks. International Journal of Hospitality Management. 2008, 27(1): 3-11
58 F. De Jong. Pension Fund Investments and the Valuation of Liabilities Under Conditional Indexation. Insurance. 2008, 42(1): 1-13
59 Slunt,Joseph. Survey of Risk Management Practices for Pensions. New York University Stern School of Business. Unpublished Spring, 2005:25-26
60 S. Haberman and J. Sung. Optimal Pension Funding Dynamics Over Infinite Control Horizon When Stochastic Rates of Return are Stationary. Insurance. 2005, 36(1): 103-116
61 B. Ngwira and R. Gerrard. Stochastic Pension Fund Control in the Presence of Poisson Jumps. Insurance. 2007, 40(2): 283-292
62 H. Huang and A. J. G. Cairns. On the Control of Defined-Benefit Pension Plans. Insurance. 2006, 38(1): 113-131
63何伟.美国多雇主企业年金计划管理及启示.中国保险,2008,(01):135-138
64殷俊,张蕾.日本企业治理机制下的企业年金计划设计.财会通讯(学术版),2008,(07):12-13
65汪建强.英国企业年金的发展困境及对我国的启示.经营与管理,2007,(10):23-26
66唐鑛,王营.企业年金管理模式的国际比较及对我们的启示.甘肃社会科学,2008,(04):24-27
67殷俊.中国企业年金宏观管理模式选择与政府干预.学习与实践,2008,(08):40-45
68孙守清.加强中国企业年金监管的思考.经济与管理,2008,(08):62-63
69郭俊.析企业年金与基本养老保险、商业年金保险产品的区别.上海保险.2006(8): 37-39
70孙佳佳,张苏.保险公司参与企业年金市场的思考.时代经贸(中旬刊),2008,(S3):46-47
71胡秋明.企业年金的人力资源管理效应及其理论解释.财经科学.2006(10):61-68
72王健康.发展我国企业年金的难点及政策建议.浙江金融,2008,(04):11-13
73季晓东.企业年金会计制度变迁及发展建议.南京财经大学学报,2007,(01):18-19
74王隽.浅析我国企业年金发展的必要性和存在的问题.山西焦煤科技,2007,(7): 45～46
75左香乡,李连友.企业年金政府监管制度安排及策略分析.系统工程,2008,(04):40-45
76史丹丹,李曜.我国企业年金期权式管理费设计主张的效用分析.财经研究,2009,35(3):27-37
77杨义灿.我国企业年金投资管理中委托代理关系研究.现代管理科学.2006(8):26-28
78卞月华.“EET”:我国企业年金税收模式的选择.江苏商业会计.2006(3):38-39
79贾丽,贾博.企业年金信息披露探讨.对外经贸财会, 2005(4):23-25
80孙家和.我国企业年金制度对财务管理与财务会计的影响.国际经贸探索,2007,23(5):72-75
81陈航.企业年金基金财务风险分析与防范.就业与保障,2007,(3):26～28
82张毅.财务公司从事企业年金业务的研究.金融与经济,2006,(12):59～63
83劳动和社会保障部社会保险研究所.中国企业年金财税政策与运行.北京:中国劳动社会保障出版社, 2003
84张博,李成斌.新会计准则下的企业年金会计研究.合作经济与科技,2009,(02):21-24
85寇勇刚.我国企业年金会计制度浅析.金卡工程,2009,13(2):160
86傅剑,刘青.我国企业年金投资管理现状及对策分析.经济论坛,2009,(16):32～34
87李浩.企业年金投资的风险及其规避.经济管理,2008,(5):15-19
88姜亦峰.中国企业年金制度的税收政策讨论.生产力研究,2009,(5):54～56
89张亚琴.企业年金制度运行中的税收优惠政策问题.人口与经济,2008,(S1):25-26
90杨胜利.新形势下我国企业年金税惠问题思考.西南民族大学学报(人文社科版),2008, (05):36-38
91卫力.基于税收优惠激励视角的企业年金制度建立分析.生产力研究,2007,(08):87-89
92魏凤春,于红鑫.企业年金税收政策的分析框架.财经研究,2007,(08):15-18
93张晓东,张超.影响企业年金发展因素分析.中国社会保障,2007,(1):34～35
94 Qussie. Pension Reform and Private Pension Funds in Peru and Columbia Policy Research Working Paper. World Bank, Washington D C, 1998:17-25
95 D. M. McGill, K. N. Brown, J. J. Haley and S. J. Schieber. A Theory of the Consumption Function. 1996:156-159
96姜奕慧,徐亮.建立企业年金是养老保险制度改革的需要.中国国情国力,2008,(11):18-19
97李宏艳.企业年金研究述评.中国社会保障.2004(8):22-22
98朱飞.明天的奶酪:企业年金的历史,选择和运营模式.企业管理.2004(2):6-11
99 Muermann, O. S. Mitchell and J. M. Volkman. Regret, Portfolio Choice, and Guarantees in Defined Contribution Schemes. Insurance. 2006, 39(2): 219-229
100 Disney, Richard. Occupational Pension Schemes: Prospects and Reforms in the UK. Fiscal Studies, Vo116,Issue3:19-39
101 Ken Johnston, Shaw Forbes & John Hatem. A Comparison of State University Defined Benefit and Defined Contribution Pension Plans: a Monte Carlo Simulation. Financial Services Review 10:37-44
102 Alistair Byrne. Employee Saving and Investment Decisions in Defined Contribution pension Plans. Survey Evidence from the UK pension Institute September 2004:124-130
103孙华平.企业年金制度中的DB与DC管理模式比较分析.工业技术经济,2008,(12):104-105
104王晓军,毛娜.两种企业年金模式的比较及对我国的启示.广西大学学报:哲学社会科学版,2007, 29(2):11-14
105吴敏.企业年金运营模式选择对企业人力资源管理的影响.湖北省社会主义学院学报,2008, (01):20-23
106李巍.论我国企业年金模式的选择.保险研究.2006(9):23-25
107张士永,崔玉杰.ARMA(1,1)利息力下缴费确定型企业生存年金的精算现值模型.管理观察, 2008,(10):52-55
108张劲松,姜慧.我国企业年金会计核算的精算估计.商业经济,2008,(01):22-24
109 E. J. Elton, M. J. Gruber and C. R. Blake. Participant Reaction and the Performance of Funds Offered by 401(K) Plans. Journal of Financial Intermediation. 2007, 16(2): 249-271
110肖迎春.美国企业年金计划对我国企业年金制度的启示.金卡工程,2009,(01):12-13
111 K. B. Newbold, D. M. Scott, J. E. L. Spinney, P. Kanaroglou and A. Paez. Travel Behavior within Canada’S Older Population: A Cohort Analysis. Journal of Transport Geography. 2005, 13(4):340-351
112 J. Morgan. The Uk Pension System: The Betrayal by New Labour in its Neoliberal Global Context. Research in Political Economy. 2006, 23(3): 301-347
113 Government Actuary(2003), PPI(2003),Department of Employment:15-16
114 SMITH,S., McKAY, S. Employers' pension provision 2000 Research report. Department of Work and Pension, No.163:14-15
115熊景维.企业年金基金运作的安全性问题—斯图特贝克,英国企业年金误售和安然事件的启示.东方企业文化,2007,(9):19-23
116 Russell Mellon CAPS Fund Returns, 2004:12-13
117 British Household Panel Survey, 1992 to 1998 inclusive:21-23
118 Recent Developments in Foreign Public and Private Pensions. October 2003, March 2004, April2004, May 2004, Social Security Administration’s Office of Policy, USA.:65-68
119朱孟楠,喻海燕.企业年金制度发展及模式选择:日本的经验与启示.日本问题研究,2007, (03):15-19
120 Y. Tokuda and S. Hinohara. Geriatric Nation and Redefining the Elderly in Japan. International Journal of Gerontology. 2008, 2(4): 154-157
121张树新,何金颖,莫燕曹等.全球企业年金.北京:中国劳动和社会保障出版.2004:135-139
122吴燕.香港强积金制度对内地联合企业年金计划的启示.经济论坛,2007,(10):68-71
123 G. V. Engelhardt and A. Kumar. Employer Matching and 401(K) Saving: Evidence From the Health and Retirement Study. Journal of Public Economics. 2007, 91(10): 1920-1943
124 P. K. Chu. Performance Persistence of Pension Fund Managers: Evidence From Hong Kong Mandatory Provident Funds. International Finance Review. 2007, 8(2): 393-424
125王贞凉.中外企业年金制度的比较及启示.江汉论坛.2004(5):44-46
126 J. R. Brown, N. Liang and S. Weisbenner. Individual Account Investment Options and Portfolio Choice: Behavioral Lessons From 401(K) Plans. Journal of Public Economics. 2007, 91(10): 1992-2013
127 University of St. Andrews Superannuating and Life Assurance Scheme. Pensions Review for the year to 31, July, 2004.:1-3
128 Davis E.P., Steil B. Institutional investor, MIT Press, Forthcoming.2000:18-25
129 H. H. L. Jin, O. S. Mitchell and J. Piggott. Socially Responsible Investment in Japanese Pensions.Pacific-Basin Finance Journal. 2006, 14(5): 427-438
130 G. V. Engelhardt and A. Kumar. Money On the Table: Some Evidence On the Role of Liquidity Constraints in 401(K) Saving. Economics Letters. 2008, 99(2): 402-404
131殷俊,张蕾.日本企业治理机制下的企业年金计划设计.财会通讯(学术版),2008,(07):25-29
132何伟.美国多雇主企业年金计划管理及启示.中国保险,2008,(01):22-25
133汪建强.英国企业年金的发展困境及对我国的启示.经营与管理,2007,(10):74-75
134张维衡.政策决定发展:美国个人退休计划对中国年金业务发展的启示.证券时报,2005.7.4
135孙守清.香港强积金对中国大陆企业年金监管的启示.上海国资,2008,(04):45-46
136李连友,刘革.西方规制理论在我国年金基金监管中的运用.求索.2004(5):15-17
137郑秉文,齐传君.美国企业年金“三驾马车”监管体制的运行与协调.辽宁大学学报(哲学社会科学版),2008,(02):45-49
138杨义灿.我国企业年金投资管理中委托代理关系研究.现代管理科学2006(8):26-28
139王玥.美国企业年金制度发展中的政府作用.金融经济,2008,(16):36-39
140杨扬琴,戚巍.香港强积金制度对大陆企业年金制度的借鉴意义--从制度比较到前景展望.湖北经济学院学报:人文社会科学版,2007,4(6):66-67
141吕学静.日本社会保障制度.经济管理出版社.2000:56-58
142孙华平.企业年金制度中的DB与DC管理模式比较分析.工业技术经济,2008,(12):22-25
143孙雅静.基于DC模式下参保员工的企业年金权益保障问题及对策.时代经贸,2007,(S2):33-35
144 Stiffing Kidd. Investment Policy for Defined-Contribution Pesion Scheme Member Close to Retirement: An Analysis of the“lifestyle”Concept. North American Actuarial Journal, 2000,(01): 2-5
145 Robert L. Clark, Fred W. Munzenmaier. Impact of Replacing a Defined Benefit Pension with a Defined Contribution Plan or a Cash Balance Plan. North American Actuarial Journal, 2002,(05):32-55
146郑秉文.‘一开一降’适度调整年金和社保比例.中国证券报,2005.8.5
147于小东,吴佳琦.缴费确定型企业年金领取阶段的最佳策略.经济评论,2007,(10):141-147
148张俊.针对不同企业特点进行企业年金方案设计.保险研究, 2004,(12):36-39
149王延中.中国企业年金的制度设计与政策选择.社会保险制度, 2004,(04):33-36
150周江雄,刘建华,黎颖芳.生命表的构造理论.天津:南开大学出版社, 2001:123-198