Description: This paper suggests a possible framework for the mandatory annuitization of U.S. retirement savings, considers the experience of other countries and analyzes the advantages and disadvantages of mandatory annuitization.

Description: This paper develops a model of annuity mortality that facilitates a more thorough evaluation of the issues of policyholder antiselection and insurance company response. Aging occurs as an annuitant's health state changes. Death occurs either as terminal health state or by accident. By knowing the current health state, the annuitant or insurance company can improve its knowledge about life expectancy.

Description: The purpose of this paper is to study mortality-based securities, such as mortality bonds and swaps, and to price the proposed mortality securities. The focus is on individual annuity data, although some of the modeling techniques could be applied to other lines of annuity or life insurance.

Description: This paper describes a concept product, advanced-life delayed annuity ALDA, which would be acquired at a young age small premiums would be paid over a ling period of time but the ALDA would only begin paying an inflation-adjusted life-contingent income at the advanced age of 80, 85, or even 90.

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: 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.