Description: These are the Discussant Comments by Douglas W. Andrews for the Retirement Strategies 2B Session of the January 13-15, 2020 Living to 100 Symposium in Orlando, Florida.

Description: This paper gives two explicit formulae that estimate the yield of a portfolio of fixed income securities that are not interest-sensitive. The yield is explicitly estimated in terms of the discounting interest rates of the securities that comprise the portfolio. From 2006 Enterprise Risk Management Symposium, M-AS06-1.

Description: This paper focuses on the situation of women at high ages and the implications of longer life for women. This paper draws on and brings together work done by the Society of Actuaries in connection with the 2005 post-retirement risk survey, work from Social Security administration studies, U.S. government census data, WISER, the MetLife Mature Market Institute and papers funded by the Social Security research center.

Description: This paper examines demographic characteristics of people over the age of 100 in Spain and how this has changed over time.

Description: This paper focuses on business risks rather than market, credit and operational risks. The author proposes a bottom-up approach for modelling and measuring business risk where the dynamic of the underlying earnings is described in a continuous-time model.

Description: This paper discusses a test of whether ERM influences insurers’ stock market performance. Results show that stock market performance is linked to the characteristic of industry events and specific firm characteristics rather than to the success of ERM.

Description: Discussion of papers presented at Living to 100 and Beyond symposium. Papers discussed: 'Dealing with Problems in Data Quality for the Measurement of Mortality at Advanced Ages' in Canada by Bourbeau and Desjardins, 'Mortality at Advanced Ages in Spain' by Felipe and Anguera, and 'Emergence of Supercentenarians in Low Mortality Countries' by Robine and Vaupei. These papers all deal with centenarians.

Description: The research investigates the challenges associated with determining a “fair value” assessment for embedded options in two product types and incorporates the process into product pricing and liability valuation

Description: First of two research papers introduces and explores results of two metrics of financial stress among U.S. multiemployer pension plans.

Description: This paper presents a model that projects withdrawal and investment returns for a hypothetical retirement account. From Retirement Needs Framework, M-RS00-1.