Description: Summary of the CPRNR 2015 Risk Survey and Focus Groups

Description: Retirement income security under defined contribution plans depends upon sufficient savings and decumulating that savings so it provides an adequate income throughout retirement. Investment risk and longevity risk inherently complicate the latter task. The economic rationale for annuitization is clear in this context. However, annuitization rates have historically been very low, a phenomenon that is still not well understood. If retirees are making “rational” decisions based on full information, if their choices are consistent with the pursuit of their financial priorities, then low annuitization rates are not an issue for concern. In this case, retirees who annuitize and retirees who do not must have different financial priorities. However, research by the TIAA Institute shows that the decision to not annuitize is inconsistent with the stated financial priorities of most non-annuitants. It appears that non-annuitants do not und erstand that annuitization would address their financial priorities for retirement.

Description: The appropriate role for actuaries when advising on long-term investment strategies for individual retirement savings.

Description: Interview with Sudipto Banerjee

Description: Provides preview of the two essays published in this Pension Section News and encourages dialogue, particularly on the 401(k) essay and the ideas for change.

Description: Article discusses how middle class Americans are doing in saving for retirement, sources of incomes and results of the Survey of Consumer Finances.

Description: Discusses a wide range of issues related to financial decision making and aging. Includes discussion of cognitive decline, fraud and poor decisions. Brings in role of technology and tools.

Description: Provides anecdotal information on management of finances for people over age 85. Include quotes from an expert discussion.

Description: Article suggests future steps with regard to this project and provides information on where to get the essays.

Description: Article discusses how middle class Americans are doing in saving for retirement, sources of incomes and results of the Survey of Consumer Finances.