Description: Retirees and their advisors should construct diversified portfolios of retirement income, allocating among various retirement income classes that include Social Security, annuities, and systematic withdrawals from invested assets. This essay discusses the pros and cons of various retirement income generators and the issues with constructing retirement income portfolios.

Description: While the major market crash subsequent to the widespread contagion of the COVID-19 virus was readily predictable, the rapid recovery and ongoing growth subsequent to it was not. Market dynamics around the recovery resist characterization by most traditional analytical approaches. In examining the circumstances around the emergence of a large retail class of investors, one sees that ingrained human tendencies, particularly optimism bias, have fueled much investor behavior responsible for the recovery. Understanding this makes it possible to predict potential future crashes and develop behavioral interventions for subsequent market recoveries.

Description: This essay advocates that the transition from DB to DC plans won't be complete until plan sponsors offer programs of retirement income in their DC plans. The essay discusses the relevant actuarial and behavioral issues.

Description: Argues public plans should only hold bonds, on the basis of tax and finance arguments.

Description: This article gives an overview and explanation of behavioral finance.

Description: We discussed impacts of procrastination and strategies to harness the power of inertia to aid individuals in their pursuit of future financial well-being.

Description: Discusses the three complexity science sessions at the Annual Meeting that were sponsored by the Section.