Description: On June 26, 2007, the U.S. Conference Board sponsored a webcast on phased retirement. There were several interesting aspects of the webcast and ensuing discussion including: 1. Polling results, 2. Case studies about how employers have implied phased retirement programs, including examples of how employees are moved from job to job as they entered phased retirement, and 3. Participation by a number of employers indicating their interest in the topic. This article focuses on the first two of these three elements.

Description: This article summarizes a series of surveys that explore how the public perceives retirement risks and manages related financial resources. It also provides examples of conflicting perceptions and behavior related to retirement and how retirees manage assets in retirement.

Description: Feature article discussing the SOA’s Retirement 20/20 initiative.

Description: Pension Reform in China by Yves Guerard, Shu Yen Liu and Bruce Moore from Pension Section News, June 1999, Issue No. 40.

Description: This article by Anna Rappaport and Eric Freden contains a compelling compendium of comments shared by top actuaries working in different roles with retirement systems who attended the fourth triennial “Living to 100” Symposium in Orlando, Fla.

Description: In this article, the editor previews the issue and thanks the outgoing communications committee members. From the Pension Section News, October 2011, Issue No. 75.

Description: Letter from the section chairperson discussing past and future seminars put on by the Reinsurance Section.

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: Evaluate the potential for target benefit plan designs across the full spectrum of defined benefit to defined contribution to provide more flexibility in benefit design while considering regulatory implications.

Description: Letter from editor discussing various topics covered in the issue.