Description: Announcement of 2011 section elections.

Description: Andrew Peterson gives an excellent synopsis and editorial comments on the high points of the National Academy of Social Insurance’s 23rd annual Conference, held this January at the National Press Club in Washington, DC.

Description: This article explains why and how maturing defined benefit pension plans become increasingly unstable if they maintain asset mix policies that embody material mismatch risk between plan assets and liabilities. The implication is that asset depletion is a risk that mature plans should take very seriously. This means redesign should be a priority for pension plans facing this risk. From the Pension Section News, October 2011, Issue No. 75.

Description: This article surveys social security developments around the world. We focus on China, Africa, countries with privatized individual accounts in South America and Central and Eastern Europe, and OECD countries.

Description: Behavioral Finance proposes that psychological and social factors influence financial and economic decisions, causing people to make decisions other than those predicted by conventional economics and which may not be optimal for them. This article strives to help defined benefit (DB) plan actuaries understand how concepts from behavioral finance may provide insight into the actions of the sponsors of defined benefit plans. We specifically explore how behavioral finance concepts may affect sponsors’ decisions regarding their plan’s preferred funding level and risk profile. Our hope is that actuaries can assist their clients in becoming aware of how these concepts may be affecting the quality of the sponsors’ decision-making process.

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: Provides an overview of several EBRI studies on spending by older Americans and brings together with Society of Actuaries research on shocks in retirement.

Description: Protecting oneself in older age from risks is the sine qua non of retirement planning. But far too many people don’t approach retirement (or retirement planning) well. From a policy perspective, we know about half the senior population will have some sort of long-term care event. We need to recognize that long-term care risk is a component not just of aging but of retirement. Placing long term care solutions in the retirement space is critical to reaching the bulk of the population. Combined with the additional element—recognition of risk—this would be both a powerful protection but also a natural one for individuals to understand.

Description: Column that provides an overview of section activities