Description: This report presents the results of the work undertaken in response to a SIPF commissioned research project in July 2012, entitled Communicating the Financial Health ofPublic Pension Plans.

Description: Top down approach to retirement results in wasting the human capital of retirees. We should concentrate, instead on allowing our clients to use their human capital to the fullest extent possible, and structure retirement products around that premise.

Description: Retirement income security under defined contribution plans depends upon sufficient savings and decumulating that savings so it provides an adequate income throughout retirement. Investment risk and longevity risk inherently complicate the latter task. The economic rationale for annuitization is clear in this context. However, annuitization rates have historically been very low, a phenomenon that is still not well understood. If retirees are making “rational” decisions based on full information, if their choices are consistent with the pursuit of their financial priorities, then low annuitization rates are not an issue for concern. In this case, retirees who annuitize and retirees who do not must have different financial priorities. However, research by the TIAA Institute shows that the decision to not annuitize is inconsistent with the stated financial priorities of most non-annuitants. It appears that non-annuitants do not und erstand that annuitization would address their financial priorities for retirement.

Description: Responding to Sandy Mackenzie's "Report", these comments primarily suggest additional disclosures for assessing public pension plan financial health.

Description: One of the significant changes for Baby Boomers approaching retirement has been the increased responsibility placed on individuals to make more decisions and take additional personal responsibility for their retirement planning. At the 2008 Society of Actuaries Annual Meeting, the authors presented a session focused on key decisions that individuals must make as they plan for retirement. This article summarizes the presentation at that session from two perspectives: that of an actuary, and that of a financial planner/wealth manager.

Description: This article reviews the responsibilities undertaken by Enrolled Actuary and highlights compliance concerns. From Pension Section News, April 1998, Issue No. 36.

Description: Sponsors of DB plans are being forced to focus on their plans as never before. A confluence of events—market downturn, aging workforce and changing legislation/regulation—has meant the status quo no longer applies to companies’ DB plans.

Description: This article discusses the risk of declining market cap with large pension obligations and focuses on the pension risk from the standpoint of different companies. Specifically, we’ll examine risk based on the relative size of the pension obligation to the market capitalization of the plan sponsor. From Pension Section News, September 2006, No. 62.