May 2013

Notes from the Editor

By Raymond Berry

This issue has a variety of articles that you will find of interest.

Topics include retirement risks as well as disability risk before retirement. These articles provide insight into these risks. Other topics covered include mortality and obesity, retirement issues for women, and measuring benefit adequacy—more than replacement ratios.

The equity risk premiums article is a summary of a Pension Section sponsored research paper, “Estimating Equity Risk Premiums,” which in this post Great Recession period is of more interest. We also reference the recent SOA study regarding input and output smoothing techniques and their impact on pension funding.

Thanks to the authors for their contributions to this issue.

Have you recently read an interesting article that may be of interest to others in the Pension Section? If so, please forward to us.

Raymond Berry, ASA, EA, MAAA, MSPA, can be reached at