Description: The impact of bond default risk on retirement benefit obligations describes how the probability default on a bond is similar to the probability of death for an annuitant. Bonds are used to cash flow match retirement obligations cash flows to funding from bond. Just as the probability of non-payment happens on the liability side, we can do the same with selected bonds. The end result may be an adjustment to the discount rates used.

Description: Article suggests future steps with regard to this project and provides information on where to get the essays.

Description: Retirees and their advisors should construct diversified portfolios of retirement income, allocating among various retirement income classes that include Social Security, annuities, and systematic withdrawals from invested assets. This essay discusses the pros and cons of various retirement income generators and the issues with constructing retirement income portfolios.

Description: This essay advocates that the transition from DB to DC plans won't be complete until plan sponsors offer programs of retirement income in their DC plans. The essay discusses the relevant actuarial and behavioral issues.

Description: update on the activities of the pension section section council

Description: The "feel free" strategy helps retirees understand when they can retire, how much they can spend and how much guaranteed income they might want. The approach is very simple - divide your age by 20 and feel free to spend that percentage of your savings in a year.

Description: Introduction to academicians, practitioners, and gerontologists who comprise the Funding Longevity Task Force at the American College of Financial Services.

Description: Discussion on how retirement programs have changed, or not, since the Retirement 20/20 initiative in 2010. We ecourage retirement actuaries to comment.

Description: Article focuses on a number of strategies that can be used to improve results in a DC plan. It is based on information from several outside sources. It encourages people with DB backgrounds to learn more about DC issues.

Description: Living beyond ones life expectancy poses many challenges. Among them are financial issues. Though there are products and strategies available that retirees could use to mitigate this financial risk they are seldom used. Reasons range from high cost, lack of awareness of the available options, and general underestimation of longevity risk. This paper poses the question as to whether the federal government can provide a solution to this potential problem in a fair and cost efficient manner. Ideas are presented as well as a discussion of the pros and cons of such a program concept.