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: A reprint of testimony Carol Bogosian made to the ERISA Advisory Council providing guidance on employee disclosures based on SOA post retirement research.

Description: Discusses the Strategic Research Program Initiative Task Force

Description: Read the February 2018 issue of Retirement Section News published by the Retirement Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: On May 7th, Barbara Castle, the United Kingdom's Secretary of State for Social Services, announced major changes in the details of the Social Security Act-1973. This article summarizes those changes.

Description: This paper is a concept for U.S. pension reform.

Description: Hear from the chairperson on themes in the May 2017 Pension Section News published by the Pension Section.

Description: Update on the activities of the Retirement Plans Experience Committee

Description: This article is a review of the book “Public Employee Pension Funds,” by Robert Tilove, published in 1976 by Columbia University Press. The book concentrates on the major public policy issues affecting plans of state and local governments. A more detailed review of this book will be published in the “Transactions.”

Description: This 1981 article is a discussion of pension reform in Canada, noting that in the last four years there have five government-commissioned studies, resulting in various recommendations covering government and private sector plans. There was consensus on several conclusions - namely that there is too much poverty among the elderly, particularly women, current vesting and portability rules hurt mobile workers, and inflation needs to be addressed.