Description: Sandi Kruszenski, our 2008 Pension Section Council Chair, writes her first Chairperson’s Corner.

Description: June 2009 issue of the pension section news.

Description: Anna and Maria report on the “Older Women in the Future: Adapting to Longer Lives” session that they jointly presented with Terry Kozlowski at last year’s World Future Society Conference, and provide brief summaries of selected other sessions they found interesting and/or surprising.

Description: this article provides a detailed, comprehensive and independent analysis of the impact of introducing the single-tier state pension.

Description: updates on SOA research

Description: A new retirement option has been added to the defined benefit plan for federal workers to allow retirees to work part time while receiving part of their pension benefit.

Description: Tom Toale discusses the importance of behavioral economics

Description: This essay explores the role that the emerging defined contribution retirement system may be playing in the growth of wealth inequality in the United States. The current system leaves many Americans with little or no retirement savings. Those with higher accumulation levels appear to invest proportionally more in equities, which may have an exponential effect of balances over long time periods. The author hypothesizes that willingness to take investment risk involves the relationship between the amount an investor has accumulated and what she/he needs in order to cover basic costs of living. This is one reason that investors with greater accumulation levels may be able to earn higher rates of return. The essay concludes by suggesting that the U.S. defined contribution system should include all workers and provide additional fiduciary guidance. Examples reforms, both in the U.S. and other countries, are provided.

Description: Argues that most retirees face multiple financial risks that need to be considered simultaneously so that limited resources can be applied in a manner that is rational and satisfying. A specific procedure for developing such an individualized risk strategy is described.

Description: Some are arguing to require actuaries to fund public plans like an insurance company. It is not the place of the actuary to make this call.