Description: The Society of Actuaries (SOA) and Stanford Center on Longevity released a report exploring the feasibility of implementing the “Spend Safely in Retirement Strategy.

Description: This article highlights Living to 100 sessions on current aging policy issues in the UK, the US and Canada as well as what can be done by individuals.

Description: Ensuring employees retire with adequate benefits is an ever-growing challenge. During this webcast, we will highlight key insights from the fields of behavioral economics and data analytics that can be utilized to better equip employees for retirement. Areas of focus will include inherent biases that people exhibit and how employers can use these biases to design plan features that will nudge their employees towards making better decisions for their futures.

Description: Both the SOA and AARP will showcase their recent research projects highlighting the impact of marginalization on aging and retirement. Learn how being a member of a marginalized group changes your outcomes as well as your perspective on aging and retirement.

Description: There is no silver bullet to improving retirement income outcomes for retirees. However, a combination of changes can be of significant value in addressing this overlooked issue. Although QLACs on the surface have potential value, they are not nearly as efficient as they could be. So far, employer plans have provided limited options for retirement income solutions. IRAs may not cost effectively serve the best interest of retirees. Employer plans should be encouraged to become retirement income providers and alternative approaches should be considered. The current prohibition on allowing plans to modify benefit payouts based on mortality experience should be reconsidered to allow for innovative plan income designs. Improvements to the deaccumulation stage of the retiree nest egg are challenging yet necessary.

Description: An interview with actuary Lee Gold reveals preliminary results of a recent SOA research project which surveyed employees on what retirement plan features they prefer.

Description: Retirement planning generally includes a focus on decisions needed at time of retirement, but it often fails to focus on changes during retirement and additional decisions needed as people age. The 2021 SOA Risk Survey and other SOA research documents the lack of focus on future change. It is common for people to lose cognitive ability and generally to become less able to make decisions, manage their finances, their medical care and their lives at high ages.This panel focuses on communication and decision issues. The SOA has recently issued a decision guide on High Age Decisions. The brief identifies four domains for high age decisions: ·Health, health care and staying healthy ·Managing finances ·Housing and transportation ·Support networks The panel will include a discussion of communications and how we change, problems of physical, hearing, sight or cognitive decline and the challenges created and the four domains in the SOA Decision Brief.

Description: Many retirement actuaries have experience developing, implementing, and monitoring Liability Driven Investing (LDI) strategies for plan sponsors. These strategies typically involve modifying a plan’s investment strategy to remove a significant portion of the investment and interest rate risk now or at some point in the future when specific triggers are met. The tactics often involve the use of fixed income assets to cash flow and/or duration match the liabilities. In the spirit of helping actuaries expand their roles in an evolving defined contribution world, this article explores the application of LDI and derisking strategies within defined contribution and individual retirement accounts. The economic theory behind this approach is called the lifecycle hypothesis, or lifecycle finance. The benefits of the lifecycle finance method are that it provides a safe approach to save for retirement and a secure source of floor income during retirement. Similar to pension plans, each individual has his or her own idiosyncratic needs, wants, and risks that should be considered. Actuaries are uniquely situated to help defined contribution plan sponsors, individuals, and even themselves implement the lifecycle finance approach by developing and distributing tools and methods that focus on income (rather than wealth), LDI strategies, and personalization.

Description: Learn industry best practices including challenges faced by retirees, such as needing exposure to growth, most exposed to sequencing risk, and the need for smooth returns to avoid poor investor behavior caused by risk aversion. Other topics will include how to set investment objectives which consider the members’ real-world needs and how to build portfolios and implement risk management strategies to meet those objectives. The speaker will provide real-life examples/case studies.

Description: Mortality is a fundamental element in the financial projections of the finances of social security programs around the world. Prominent actuaries from the U.S. Social Security Administration, Canada's Office of Superintendent of Financial Institutions and the U.K. Government Actuary's Department will discuss some of the key factors and current issues associated with these projections. Improving mortality has and will have a significant effect on the affordability and importance of income through retirement to many population segments in these countries.