Description: This paper investigates the effect of select birth cohorts on pricing of mortality-based securities, such as survivor bonds, life annuities in general, or portfolios of life annuities.

Description: This paper suggests a possible framework for the mandatory annuitization of U.S. retirement savings, considers the experience of other countries and analyzes the advantages and disadvantages of mandatory annuitization.

Description: Part 2 proposes solutions to the second of three flaws of the current financial model to obtaining the fair value of the public sector employer’s pension benefit liability.

Description: Paper offers a model retirement plan that addresses the needs of retirees, financial institutions, and intermediaries.

Description: Argues that most retirees face multiple financial risks that need to be considered simultaneously so that limited resources can be applied in a manner that is rational and satisfying. A specific procedure for developing such an individualized risk strategy is described.

Description: The abstract for paper Mortality Improvement Select Birth Cohorts and Their Effect on Pricing Survivor Bonds.

Description: Part 1 proposes solutions to the first of three flaws of the current financial model to obtaining the fair value of the public sector employer’s pension benefit liability.

Description: The current financial model put forth as the market value of public sector pension benefit liabilities is simply the expected cash flows of the accumulated benefit obligation, as defined for current private sector financial reporting, discounted using a risk-free yield curve. This model is in serious need of an overhaul. This monograph addresses this issue.

Description: Part 4 presents an alternate approach to obtaining the fair value of the public sector employer’s pension benefit liability.

Description: Part 5 addresses various purposes for measuring a public sector pension liability and which measures have the most practical usefulness.