Description: The purpose of this paper is to consider whether there is a coherent and principled approach to decide the question of what rights if any nonparticipant spouses should have in the retirement plans of participant spouses. From Retirement Needs Framework, M-RS00-1.

Description: Presented at Living to 100 and Beyond symposium in January 2002. Discusses the impact of longer life spans on families, business, society, and programs to help support the elderly.

Description: This paper explains how legal reforms related to annuities have decreased the popularity of annuities among plan sponsors, and then describes how a proposal for a federal charter option for life insurance companies could hold some promise for persuading plan sponsors to put annuities back into savings plans.

Description: Symposium overview. From Retirement Needs Framework, M-RS00-1.

Description: In this paper we compute the conditional and unconditional probability of ruin for an individual who wishes to consume a fixed periodic amount from an initial endowment invested in a portfolio earning a stochastic rate of return. From Retirement Needs Framework, M-RS00-1.

Description: Experts' discussion of symposium papers. From Retirement Needs Framework, M-RS00-1.

Description: This paper establishes the need for home equity conversion schemes for the elderly. It then provides a review of literature pertinent to reverse mortgages paying particular attention to the different types of reverse mortgages and their associated risks. In an attempt to better quantify the general appreciation risk faced by financial institutions issuing reverse mortgages, ARIMA techniques are employed to model Canadian house prices in both current and real dollar terms.

Description: This study addresses some aspects of the financial impact on women under the Social Security benefits reform or redistribution.

Description: The paper will focus on two broad areas, integration of insurance products with investment products to mitigate the risk of outliving one’s assets in post-retirement financial planning. Modeling and pricing for the longevity risk in the secondary market in insurance.

Description: Discussion of Living to 100 Session 5A. The papers presented propose a new method to price the longevity risk premia in order to tackle the pricing obstacle and reviewed the insurance industry implications on retirement planning and the secondary market in insurance.