Description: This article focuses on retirement decisions, phased retirement and related policy issues, calling for actuaries to take on leadership roles in retirement public discussion.

Description: This document is intended for reporters and editors seeking information and thought leaders on how to clarify the complexities of retirement planning and the associated risks for the individual consumer. It provides tips and a summary of considerations and risks involved with transitioning into retirement, and includes bios for expert actuaries specializing in retirement, who are available for interviews or comment, and contact information for the Society.

Description: Task Force report on life insurance company sales illustration practices from the perspective of the consumer. The study analyzes how well current illustration practices serve their primary functions of: 1. showing the consumer their policy values and premium payments over time, and 2. projecting best estimates of future performance and providing cost and performance comparisons with other policies.

Description: As the search continues for a solution to the U.S. Social Security system’s financing problems, the U.S. Congress is considering raising the normal retirement age for U.S. workers. The House Ways and Means Social Security Subcommittee heard testimony on Feb. 26, 1998 from Christopher Bone, chief actuary, Actuarial Sciences Associates, Somerset, N.J., Ron Gebhardtsbauer, senior pension fellow, American Academy of Actuaries, and Robert Myers, former chief actuary of the U.S. Social Security Administration and professor emeritus, Temple University. All discussed the impact of a higher normal retirement age. This article summarizes the testimony of these three actuaries.

Description: This paper discusses the proposed compulsory savings program combined with transparent investment vehicles designed to promote competition based on expense levels, fund performance and customer service. At retirement 50% of the account is annuitized in Participating Variable Annuity (PVA) backed by TIPS. All investment experience, expenses, and pooled longevity experience is passed to annuitants through periodic benefit adjustments. Annuities are priced uniformly based on age at commencement.

Description: A review of the Australian retirement incomes system and an assessment of necessary changes to improve its effectiveness.

Description: The editorial provides an overview of articles in this issue that explore and illustrate solutions to current retirement challenges.

Description: This paper explores a proposed compulsory savings program combined with transparent investment vehicles designed to promote competition based on expense levels, fund performance and customer service. At retirement 50% of the account is annuitized in Participating Variable Annuity (PVA) backed by TIPS. All investment experience, expenses, and pooled longevity experience is passed to annuitants through periodic benefit adjustments. Annuities are priced uniformly based on age at commencement.

Description: This paper responds to comments on a proposed compulsory savings program combined with transparent investment vehicles designed to promote competition based on expense levels, fund performance and customer service. At retirement 50% of the account is annuitized in Participating Variable Annuity (PVA) backed by TIPS. All investment experience, expenses, and pooled longevity experience is passed to annuitants through periodic benefit adjustments. Annuities are priced uniformly based on age at commencement.