Description: Interview with Karen Lockridge, FSA, FCIA and Francisca Quinn regarding fiduciary concerns with and future outlook for Environmental, Social and Governance (ESG) investing.

Description: The article first tries to determine a consensus view of what social security should accomplish and then tries to measure how well the current level of benefits succeeds in meeting these goals. Assessing benefit adequacy is an essential element in putting the overall program on a sound financing footing.

Description: First in a series of articles for Retirement Section News focusing on Defined Contribution issues

Description: An analysis of the revamped state sponsored retirement income pension gives insight into design and funding elements that might figure in reforming social security in the United States.

Description: Mandatory implementation of life principle-based reserves (PBR) is just around the corner, and there is no shortage of work to do, as most products have yet to be moved to PBR. Oliver Wyman recently completed its 2019 PBR survey, with more than 40 participants covering 85 percent of the individual life market, including 23 of the top 25 life writers and five reinsurers. This article will expand on the key survey findings including implementation trends, analysis to date and recent discussions on the treatment of non-guaranteed reinsurance.

Description: This article addresses challenges that arise later on in retirement years related to support systems, physical needs, and living arrangements. It highlights the "Late-in-Life Decisions Guide" published by the Society of Actuaries in 2022.

Description: The article provides a summary of key issues presented at the 2023 U.S. Living to 100 Symposium focused on the interests of retirement professionals and retirees. It provides an overview of the subjects covered. The discussion focused on the well-being of retirees and the development of the retirement system. It is focused on late-in-life issues and having the best life possible during that period. It balances technical and lifestyle issues, with an emphasis on mortality and longevity trends and influences. Some of the topics discussed include the impact of COVID, climate, housing, and age-friendly communities. The Elder Tech Symposium was merged into Living to 100 and includes discussion of a variety of technology approaches to improve lives and simplify support. The symposium recognized that the decisions needed and concerns during retirement are different later in life, particularly as people decline.

Description: Many retirement actuaries have experience developing, implementing, and monitoring Liability Driven Investing (LDI) strategies for plan sponsors. These strategies typically involve modifying a plan’s investment strategy to remove a significant portion of the investment and interest rate risk now or at some point in the future when specific triggers are met. The tactics often involve the use of fixed income assets to cash flow and/or duration match the liabilities. In the spirit of helping actuaries expand their roles in an evolving defined contribution world, this article explores the application of LDI and derisking strategies within defined contribution and individual retirement accounts. The economic theory behind this approach is called the lifecycle hypothesis, or lifecycle finance. The benefits of the lifecycle finance method are that it provides a safe approach to save for retirement and a secure source of floor income during retirement. Similar to pension plans, each individual has his or her own idiosyncratic needs, wants, and risks that should be considered. Actuaries are uniquely situated to help defined contribution plan sponsors, individuals, and even themselves implement the lifecycle finance approach by developing and distributing tools and methods that focus on income (rather than wealth), LDI strategies, and personalization.

Description: Describes the challenges of using replacement ratios for retirement planning and suggests alternative approaches including spending strategies such as the 4% rule or divide your age by 20 (Feel Free spending) rule. Identifies and prioritizes different types of spending needs including sustenance, lifestyle, health care and bequest. In addition the article provides data showing how spending typically drops as retirees age and discusses how to take this into account when planning when to retire or how much to spend in retirement.

Description: Most industry professionals acknowledge that funding retirement needs will almost always require disciplined savings over a period of decades. Today, we are less than 30 years from the second half of the 21st Century. However, a majority of the Millennial and Gen Z generations are either not eligible for or are not using today's tax-preferred options for funding retiree medical and Long Term Care (LTC).