Description: Calculating the retirement benefits under a defined contribution pension plan requires information about lifetime salary profiles along with the density of contribution. Most often, in developing countries, a simple income profile is assumed with no regard to actual income profiles. One commonly used rule is to assume a x percent growth in income throughout the working lives of affiliates. This is the abstract of a paper that investigates if the reality corresponds to such assumptions.

Description: This article discusses the importance of guaranteed lifetime income, such as an annuity, as part of overall retirement planning, and goes on to debunk various misconceptions about fixed annuities and other retirement strategies.

Description: Employee termination and retirement rates affect the valuation of employee benefit plans and thus are of concern to actuaries. To provide timely experience for the profession, the Society of Actuaries Pension Plan Turnover and Retirement Rates Committee organized a data collection effort. Thirty-two contributors provided almost 1.8 million life years of pension plan turnover data for years 1994-2000. This report documents the data assembly and verification procedures used in collecting the data.

Description: This report summarizes thoughts and questions raised during the conversation focused on the possible impact of COVID-19 on senior housing and related decisions that retirees and their families may need to make.

Description: The Society of Actuaries Research Institute’s Aging and Retirement Strategic Research Program is pleased to release a collection of essays addressing the impact of inflation on retirement and retirement-related issues.

Description: This report summarizes thoughts and questions about the impact of COVID-19 on working in retirement, phased retirement and how the definition and timing of retirement may change. It provides a synthesis of the expert input mentioned above and offers background on related research results. It also describes other issues for further consideration. T

Description: The SOA Research Institute seeks researchers and essayists to explore the multifaceted impacts of climate risk on retirement. The desired deliverable is a resource that catalogues major related issues while providing current considerations and potential future dynamics. The intended audience for this effort is actuaries and other retirement professionals.

Description: Over a short span of two weeks, the financial system has observed the collapse of two mid-sized U.S. commercial banks, California-based Silicon Valley Bank (“SVB”) and New York-based Signature Bank, and a takeover of troubled Credit Suisse by a rival in Europe. Other banks that serve a similar demographic as SVB, such as First Republic Bank and PacWest Bancorp, have also experienced an elevated level of customer deposit withdrawals while their stock prices plummeted. The U.S. Federal Deposit Insurance Corporation (FDIC) quickly stepped in and guaranteed all deposits from the failed banks to prevent a broader crisis in the banking system. The current turmoil in the financial system is a stark reminder of the importance of effective risk management and regulation.

Description: Summary of the annual cost-of-living adjustment and changes in other wage-indexed programs parameters for Social Security in 2024.

Description: The Mortality Improvement Model, MIM-2021- V3. Different mortality projection methodologies are utilized by actuaries across applications and practice areas. As a result, the MIM Advisory Group (“Advisory Group”) developed a single framework to serve as a consistent base for practitioners in projecting mortality improvement.