Impact of AI on Retirement Professionals and Retirees - Essay Collection

August 2024

Overview

The Society of Actuaries Aging and Retirement Strategic Research Program Steering Committee issued a call for essays to explore the impact of artificial intelligence (AI) and large language models (LLM) on retirement professionals and retirees. The objective was to gather a variety of perspectives and experiences with AI and LLM in different retirement settings—both now and in the future. It is the goal of this collection to spur thoughts for future research and set the stage for upcoming efforts.

Materials

The seven essays that form this collection are included below and are also compiled here:
Impact of AI on Retirement Professionals and Retirees - Essay Collection

Prize winners

Three essays were chosen for creativity, originality and the extent to which an idea might help promote further thought in this area, are noted here:

The Retirement Reckoning – When Family Ties Clash with Financial Realities
Stefano Orfanos, FSA, CERA

Can Artificial Intelligence Help Me with Retirement Planning: An Individual Perspective
Anna M. Rappaport, FSA, MAAA

A Retiree’s Guide to Artificial Intelligence risks and Mitigating Those Risks
Gregory Whittaker, FSA, FASSA

Remaining essays

Artificial Intelligence and Retirement Planning
John Cutler, J.D.

Artificial Intelligence as a Partner for Retirement Professionals: What Are the Issues?
Anna M. Rappaport, FSA, MAAA

The Impact of Artificial Intelligence on Financial Decisions for Retirees
Mark Dennis, DBA, CFP®

Pick a Payout Using AI
John Blocher, FSA, MAAA

Acknowledgments

The SOA Research Institute Aging and Retirement Strategic Research Program thanks the Project Oversight Group (POG) for their careful review and judging of the submitted essays. Any views and ideas expressed in the essays are the authors’ alone and may not reflect the POG’s views and ideas nor those of their employers, the authors’ employers, the Society of Actuaries, the Society of Actuaries Research Institute, nor Society of Actuaries members.

Gavin Benjamin, FSA, FCIA
Bonnie Birns, FSA, MAAA
Ruth Schau, FSA, MAAA, FCA, EA
Andrea Sellars, FSA, MAAA
Matthew Smith, FSA, MAAA
Cavan Stackpool, FSA, CERA

Questions or comments?

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