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Starting at $149 (includes access to subsequent webcast recording)More information on all registration fees.
Strategic Insight & Integration
Who Should Attend
All actuaries working in retirement, long-term care, product development or financial planning who are concerned about what strategies will lead to adequate retirement security and how to think about it on an integrated basis.
Although much research has addressed the impact that investment risk has on retirement income, retirees are subject to several other risks that can derail their retirement. A new Society of Actuaries research report investigates the combined effects of investment, longevity, health and long-term care risks on retirement income adequacy. Various risk mitigating strategies are investigated using a stochastic simulation model. Learn about which strategies will best help your clients’ income last a lifetime and reduce the chances of running out of money.
This webcast will cover
A new Society of Actuaries Study: Measures of Benefit Adequacy: Which, Why, for Whom and How Much, offers new perspectives on benefit adequacy and also practical advice about using and thinking about the results. To investigate the impact of various risks on retiree welfare, the researchers developed a simulation model of retirement spending, incorporating standard of living goals as well as investment, inflation, life, health and long-term care risks, with distributional assumptions for each random variable. The webcast will present the model, the development of a base case to measure the outlook for average Americans, the assumptions used, and the results of the modeling. Strategies tested include the base case and several common strategies for improving retirement income adequacy, including reducing the post-retirement standard of living, annuitization, buying long-term care insurance, delayed retirement and the decision to pay-off a home mortgage prior to retirement. Results for the base case and for various risk-mitigating strategies are reported based on the probability of having wealth at death, the expected amount of wealth left at death, the number of years income is insufficient, and the amount of wealth that would have been sufficient to meet needs.
The study describes three different approaches to measuring benefit adequacy, looks at each from diverse stakeholder’s perspectives, and considers their uses and limitations. The three methods are replacement ratios, minimum needs measures, and cash flow analysis. The discussion unifies thinking about these different measures and weaves them into the analysis.
Researchers for study: Vickie Bajtelsmit, Anna Rappaport and LeAndra Foster
How the live webcast works and what it includes:
You do not need any special equipment. On Feb. 6 before 2 p.m. EST you will be sent detailed webcast instructions via email including the Web address for accessing the presentation. Any handouts that are available will also be sent. You will follow along with both the slide presentation and the audio portion of the broadcast over the Internet.
The registration fee includes:
Please note that each access code may only be used for one location, even if you register for more than one participant.
Post-Webcast Purchase Opportunity
For those who are interested in SOA webcasts but are unable to participate in the live event, access to an archived recording of the webcast will be available for purchase approximately 10 business days following the event on the webcast & virtual session recordings web page.
Demonstrating the listening, writing and speaking skills required to effectively address diverse technical and nontechnical audiences in both formal and informal settings.
Adhering to standards of professional conduct and practice where all business interactions are based on a foundation of integrity, honesty and impartiality.
Identifying and incorporating the implications of economic, social, regulatory, geo-political and business changes into the design and delivery of actuarial solutions.
Initiating, innovating, inspiring, creating or otherwise acting to influence others regardless of level or role toward a common goal.
Creating mutually beneficial relationships and work processes toward a common goal.
Applying the actuarial knowledge, skills and judgment required to provide value-added services.
Anticipating trends and strategically aligning actuarial practice with broader organizational business goals.
Providing effective problem solving that addresses relevant interests and needs.
More information on the Competency Framework