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Taxation and Corporate Pension Policy

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  • Irwin Tepper

Abstract

Section I introduces the material in the context of existing research. In Section II the effects of the tax structure on the desirability of having pension plans and on the funding and investment policies of such plans is discussed. Section III discusses the discrepancies between the prescriptions presented above and current practice. The Appendix contains a detailed analysis of each of the two tax provisions that apply to corporate pension plans.

Suggested Citation

  • Irwin Tepper, 1981. "Taxation and Corporate Pension Policy," NBER Working Papers 0661, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:0661
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    1. Fama, Eugene F, 1978. "The Effects of a Firm's Investment and Financing Decisions on the Welfare of Its Security Holders," American Economic Review, American Economic Association, vol. 68(3), pages 272-284, June.
    2. Tepper, Irwin & Affleck, A R P, 1974. "Pension Plan Liabilities and Corporate Financial Strategies," Journal of Finance, American Finance Association, vol. 29(5), pages 1549-1564, December.
    3. Sharpe, William F., 1976. "Corporate pension funding policy," Journal of Financial Economics, Elsevier, vol. 3(3), pages 183-193, June.
    4. Miller, Merton H, 1977. "Debt and Taxes," Journal of Finance, American Finance Association, vol. 32(2), pages 261-275, May.
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