How Secure Are Retirement Nest Eggs?

Life's uncertainties can upend the best-laid retirement plans. Health can fail as people grow older, or their spouses can become ill. Older people can lose their jobs, and often have trouble finding new ones. Marriages can end in widowhood or divorce. Health, employment, and marital shocks near retirement can have serious financial repercussions, raising out-of-pocket medical spending, reducing earnings, disrupting retirement saving, and forcing people to dip prematurely into their nest eggs. This brief examines different types of negative events that can strike near retirement. It reports the incidence of widowhood, divorce, job layoffs, disability, and various medical conditions over a 10-year period, and estimates their impact on household wealth. Data come from the Health and Retirement Study (HRS), a nationally representative survey of older Americans conducted by the University of Michigan for the National Institute on Aging. The survey interviewed a large sample of non-institutionalized adults ages 51 to 61 in 1992 and re-interviewed them every other year. The analysis uses data through 2002, the most recent year available. The results show that many people in their 50s and 60s experience negative shocks that threaten retirement security. Job layoffs, divorce, and the onset of work disabilities near retirement substantially erode retirement savings. The findings highlight the limitations of the safety net when things go wrong in late midlife. This Brief was written for the Center for Retirement Research based at Boston College

Health Problems and Job Layoffs Crack Retirement Nest Eggs

As people prepare for retirement, even the best-laid plans can go awry. Health fails. Spouses or other family members become ill. Marriages end in widowhood or divorce. Investments sour. People lose their jobs. Health, employment, and marital shocks can have serious financial consequences -- out-of-pocket health bills, reduced earnings, disrupted retirement saving -- forcing people as young as 50 or 60 to dip into their nest eggs

Salute, innovazione e concorrenza nel mercato farmaceutico: una questione di bilanciamento tra diritti confliggenti

L'elaborato si articola su tre parti. La prima è dedicata alla ricostruzione del processo di affermazione del diritto alla salute in Italia e nell'Unione europea nonché all'analisi della legislazione farmaceutica e delle previsioni normative nazionali introdotte con l'obiettivo di promuovere l'utilizzo dei medicinali equivalenti. La seconda fornisce una ricognizione delle caratteristiche del brevetto. Viene analizzata la legislazione internazionale, europea e nazionale in materia brevettuale e ci si focalizza sulla ricerca del fondamento costituzionale della proprietà intellettuale. Successivamente ci si sofferma sull'importanza della protezione della proprietà intellettuale nel mercato farmaceutico e se ne individua lo specifico fondamento costituzionale. La terza parte si apre con una ricognizione dell'istituto del bilanciamento tra diritti costituzionali. Si prosegue, poi, con la descrizione dei casi AstraZeneca e Pfizer, verificando quale bilanciamento sia stato individuato tra i due diritti confliggenti coinvolti, ossia l'accesso dei medicinali equivalenti al mercato e la promozione della ricerca scientifica

The Adequacy of Retirement Saving

macroeconomics, saving, retirement

Laser cleaning of diagnostic mirrors from tungsten-oxygen tokamak-like contaminants

This paper presents a laboratory-scale experimental investigation about the laser cleaning of diagnostic first mirrors from tokamak-like contaminants, made of oxidized tungsten compounds with different properties and morphology. The re-deposition of contaminants sputtered from a tokamak first wall onto first mirrors' surfaces could dramatically decrease their reflectivity in an unacceptable way for the proper functioning of plasma diagnostic systems. The laser cleaning technique has been proposed as a solution to tackle this issue. In this work, pulsed laser deposition was exploited to produce rhodium films functional as first mirrors and to deposit onto them contaminants designed to be realistic in reproducing materials expected to be re-deposited on first mirrors in a tokamak environment. The same laser system was also used to perform laser cleaning experiments, exploiting a sample handling procedure that allows one to clean some cm2 in a few minutes. Cleaning effectiveness was evaluated in terms of specular reflectance recovery and mirror surface integrity. The effect of different laser wavelengths (λ= 1064, 266 nm) on the cleaning process was also addressed, as well as the impact of multiple contamination/cleaning cycles on the process outcome. A satisfactory recovery of pristine mirror reflectance (≥90%) was obtained in the vis-NIR spectral range, avoiding at the same time mirror damaging. The results here presented show the potential of the laser cleaning technique as an attractive solution for the cleaning of diagnostic first mirrors

Reconstructing stakeholder relationships using ‘corporate social responsibility’ as a response strategy to cases of corporate irresponsibility: The case of the 2010 BP spill in the Gulf of Mexico.

Purpose When organisations behave irresponsibly, a question remains: Can they use a messaging strategy based in the organisation’s commitment social responsibility to effectively respond to the crisis? The purpose of this chapter is to analyse stakeholder attitudes and their antecedents in such a case. Because of its scope, magnitude and use of a response strategy based on messages of social responsibility, the 2010 BP oil spill in the Gulf of Mexico serves as an excellent case for measuring the effectiveness of such a messaging strategy. Methodology/approach The present study drew from two data sources: a content analysis of interactions on BP’s Facebook page (N=1,515) as well as an image survey of BP (N=749). Findings BP’s messaging strategy had limited positive effects in terms of (1) being viewed as a ‘socially responsible’ organisation and (2) creating significant good will towards the company. However, these data also reveal that BP has effectively opened lines of communication between stakeholders and the company. Practical and social implications This study has two central implications. First, for both organisations and activists, personal investment and the relevance of issues are both critical in order to change stakeholder attitudes about organisations. Second, based on this research, we can begin to develop stakeholder profiles based on age, sex and political identity. Originality/value In the last couple of years, considerable attention has been paid to describing and analysing the response strategies that organisations deploy; however, scant attention has been paid to measuring stakeholder evaluations of those crisis response strategies

Thiourea Derivative of 2-[(1 R)-1-Aminoethyl]phenol: A Flexible Pocket-like Chiral Solvating Agent (CSA) for the Enantiodifferentiation of Amino Acid Derivatives by NMR Spectroscopy

Thiourea derivatives of 2-[(1R)-1-aminoethyl]phenol, (1S,2R)-1-amino-2,3-dihydro-1H-inden-2-ol, (1R,2R)-(1S,2R)-1-amino-2,3-dihydro-1H-inden-2-ol, and (R)-1-phenylethanamine have been compared as chiral solvating agents (CSAs) for the enantiodiscrimination of derivatized amino acids using nuclear magnetic resonance (NMR) spectroscopy. Thiourea derivative, prepared by reacting 2-[(1R)-1-aminoethyl]phenol with benzoyl isothiocyanate, constitutes an effective CSA for the enantiodiscrimination of N-3,5-dinitrobenzoyl (DNB) derivatives of amino acids with free or derivatized carboxyl functions. A base additive 1,4-diazabicyclo[2.2.2]octane(DABCO)/N,N-dimethylpyridin-4-amine (DMAP)/NBu4OH) is required both to solubilize amino acid derivatives with free carboxyl groups in CDCl3 and to mediate their interaction with the chiral auxiliary to attain efficient differentiation of the NMR signals of enantiomeric substrates. For ternary systems CSA/substrate/DABCO, the chiral discrimination mechanism has been ascertained through the NMR determination of complexation stoichiometry, association constants, and stereochemical features of the diastereomeric solvates

The Phenomenon of Self-Induced Diastereomeric Anisochrony and Its Implications in NMR Spectroscopy

Nuclear magnetic resonance (NMR) spectroscopy is an analytical technique largely applied in the analysis of discrimination processes involving enantiomeric substrates and chiral agents, which can interact with the analyte either via covalent bonding or via formation of diastereomeric solvates. However, enantiodiscrimination has been observed, in some cases, even in the absence of any additional chiral selector. The reasons behind this phenomenon must be found in the capability of some chiral substrates to interact with themselves by forming diastereomeric solvates in solution that can generate nonequivalences in the NMR spectra of enantiomerically enriched mixtures. As a result, differentiation of enantiomers is observed, thus allowing the quantification of the enantiomeric composition of the mixture under investigation. The tendency of certain substrates to self-aggregate and to generate diastereomeric adducts in solution can be defined as Self-Induced Diastereomeric Anisochrony (SIDA), but other acronyms have been used to refer to this phenomenon. In the present work, an overview of SIDA processes investigated via NMR spectroscopy will be provided, with a particular emphasis on the nature of the substrates involved, on the interaction mechanisms at the basis of the phenomenon, and on theoretical treatments proposed in the literature to explain them