Description: Majority of Latin American Consumers Worry About Financial Security in Retirement Yet Only 20% Have Done Any Planning:

Description: Proposed update of Chile’s landmark 1981 DB to DC national pension program conversion.

Description: In the U.S., public pension plans vary dramatically in size, complexity, funding position and more. The discussion will start by going over the current status of public plans within the U.S. You will then quickly dive into case studies on two systems, the South Dakota Retirement System and the Wisconsin Retirement System. Both systems use variable benefits or risk sharing measures to control contributions and achieve long term sustainability in a purposeful and stable fashion. During this webcast, you will learn about: The funding approach Historic success Future perspectives of the two retirement systems

Description: An interview with Michelle Richter-Gordon which provides a look at how DC participants feel about their financial security in retirement and suggests how retirement professionals can improve the financial security of retirees during the decumulation phase.

Description: "Living to 100 in the time of COVID-19: A Study of Late –Life Mortality Trajectories, Leonid A. Gavrilov, Ph.D., Natalia S. Gavrilova, Ph.D., Academic Research Centers, NORC at the University of Chicago Swedish Mortality Does Not Decelerate in Recent Cohorts, or Does it? – Roland Rau, Ph. D., Professor, University of Rostock & Max Planck Institute for Demographic Research, Rostock, Germany; Marcus Ebeling, Ph.D., Karin Modig, Ph.D., Associate Professor, Anders Ahlbom, Ph.D., Professor Emeritus, Karolinska Institute, Stockholm Sweden; Kai Kaufhold, Aktuar DAV, Ad Res Advanced Reinsurance Services GmbH, Cologne, Germany; Annika Ziegler, Lukas Stake, Hochschule Koblenz & Ad Res, Germany"

Description: With freezing and termination of DB plans, there is a growing void in retirees' retirement planning that can best be solved by annuities. The presenters will discuss different ways that annuities can be used to provide retirement income in DC plans. They will also cover industry trends and the challenges of associated with adding annuities within DC plans

Description: This session will include a brief outline of the origin of the tontine from when it was first introduced by the government of England in the 17th century through its disappearance in the early 20th century. As we explore the history of tontines, we will discuss their multiple references throughout English (and French) literature, often vilified by most authors using them as their subject, and how they bear little resemblance to the insurance product that many contemporary financial scholars advocate as a viable annuity concept for today and the future. The presenters will cover the practicality of reintroducing a modernized version of these longevity pooling arrangements (i.e., where aggregate longevity risk is shared among a group and not incurred by the issuer) as a retirement savings vehicle. They will also touch upon different aspects of tontines, such as risk management and regulatory issues.

Description: There is no silver bullet to improving retirement income outcomes for retirees. However, a combination of changes can be of significant value in addressing this overlooked issue. Although QLACs on the surface have potential value, they are not nearly as efficient as they could be. So far, employer plans have provided limited options for retirement income solutions. IRAs may not cost effectively serve the best interest of retirees. Employer plans should be encouraged to become retirement income providers and alternative approaches should be considered. The current prohibition on allowing plans to modify benefit payouts based on mortality experience should be reconsidered to allow for innovative plan income designs. Improvements to the deaccumulation stage of the retiree nest egg are challenging yet necessary.

Description: Navigate a perspective on the process of developing estimates and projections of mortality rates, based on a Living to 100 paper by the teacher. Discover the approach and considerations an actuary (or others) can take to develop a mortality rate assumption for five time periods. It will describe techniques to estimate historical mortality rates from which to project future mortality rates.

Description: The presenters in this session will discuss the simultaneous use of DB and DC plans. With the continued growth of DC assets and the freezing of DB plans, it is increasingly common to see DB participants with a DC plan that is more than just supplemental. Because of this, it is important that retirement professionals see DB and DC plans as not just competitors for contributions, but as partners. The presenters will discuss how that partnership can work and how the presence of a DB plan can influence the design of DC solutions such as target date funds.