Description: Retirement Symposium overview. A session by session synopsis of the wide ranging topics presented.

Description: This paper investigates the effect of select birth cohorts on pricing of mortality-based securities, such as survivor bonds, life annuities in general, or portfolios of life annuities.

Description: The purpose of this paper is to explore a methodology for choosing among techniques for managing contribution volatility in defined- benefit pension plans. A frequently used – and as often criticized – method for managing contribution volatility is to base actuarial cost on smoothed assets. Our goal in this paper is to develop a methodology for measuring and evaluating the quantitative impact of competing asset smoothing policies. We proceed by investigating a series of basic pension metrics, evaluating the characteristics of each using a simulated pension plan. We then use normalized and weighted combinations of these metrics to determine an optimal smoothing policy.

Description: This is the panel transcript for the 2017 LT100 Symposium Session 2C: Impact of Aging: What Can Individuals and the Private Sector Do to Address Challenges?

Description: Tables for the Housing Wealth Effects, Boomer Refinancing, Housing Debt, and Retirement Saving Adequacy—1989-2007 monograph.

Description: The specific aim of the proposed research is to both theoretically and empirically catalog the different ways one could expect consumption in a household after retirement to be different than consumption before retirement. The long term goal of this research is to help better inform best practices for financial planners, professionals and educators in the construction of financially prudent retirement plans. This decomposition can be separated generally into three main paradigms. The first two of these paradigms concern how preferences affect consumption before and during retirement, while the third is concerned with the financial constraints retirement brings.

Description: This paper introduces the author's globalization model of work and retirement in the 21st century. To make the model work, there is a need for a prototype social security system with many desirable features called National Provident Fund for each nation.

Description: Exploration of sources of volatility in retiree health valuations, noting how volatility arises and might be mitigated, with discussion of valuation parameters more problematic for retiree health benefits than for pensions. Three significant influences on retiree health valuation volatility are covered-- changes in benefit level, fluctuations in cost level, and alterations in eligibility for, or duration of, benefit – and attention focused on the last two. Specific conclusions result in recommendations, which are supported by practical examples contrasting volatile measurement results with those likely from the recommended practices. Theoretical discussion includes health claim variation, health trend usage, financial economics, option pricing, discount rates, and deterministic vs. stochastic modeling.

Description: A collection of essays aimed to gather perspectives, opinions and data on how to advance the state of effective retirement planning to assist individuals, actuaries, financial advisors, employers, and other stakeholders. The goal was to explore ideas and thoughts on identifying current and alternative means of achieving and measuring retirement income adequacy.