Description: This paper develops an option pricing model that takes cost of capital concepts as its foundation rather than dynamic replication. The resulting model, called the 'C' measure in this paper, is related to the family of Affine Jump Diffusion models that are well known in the finance literature, so it is fairly easy to understand and implement. We argue that this is a reasonable model to use for estimating equity implied volatilities that are beyond the five- to 10-year horizon that can typically be observed in today‘s capital markets. The paper concludes with a short discussion of how to grade from observable market data to the 'C' measure.

Description: This paper examines the funding expectations of the three primary stakeholders in the pension system: plan sponsors, taxpayers, and workers. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: Summary of the papers presented at the symposium

Description: Discussion among experts. From 2005 Living to 100 and Beyond Monograph, M-LI05-1.

Description: Discussion of 2008 Living to 100 General Session 4.

Description: 2011 SOA Enterprise Risk Management Symposium, Chicago. This is the abstract of the referenced paper.

Description: This paper considers the question of how the adjustment mechanisms described for the Swedish and German social security systems might be incorporated into private sector DB plans of the following types: multi-employer and single employer.

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 describes a current approach to capital allocation, tail contribution analysis TCA, and then compares it to an alternate method called economic profit analysis, EPA. The advantages of EPA over TCA are then outlined. From 2006 Enterprise risk Management Symposium, M-AS06-1.

Description: This paper argues that living longer with dignity is what is desirable and also that this should be an objective in designing specific social support systems for the elderly. The paper identifies and discusses certain areas where dignity is lacking or where the likelihood of living with dignity could be enhanced.