Description: This paper describes a concept product, advanced-life delayed annuity ALDA, which would be acquired at a young age small premiums would be paid over a ling period of time but the ALDA would only begin paying an inflation-adjusted life-contingent income at the advanced age of 80, 85, or even 90.

Description: This paper explores the relationship between the Wealth Transfer Index WTI and retirement age, which is the age at which the workers in an economy cease to be economically productive.

Description: This paper recommends changes to current laws affecting employee benefits, changes that would provide substantial retirement security for these and other contingent workers in Mulitempoyer plans.

Description: In the face of profound, worldwide changes in demographic, family, and lifestyle patterns, this paper introduces a dynamic social security system deemed most suitable for accommodating these changes.

Description: Paper estimates the burden of chronic disability on the U.S. elderly population, using sex-specific measures of long-term care LTC service use, intensity and costs.

Description: The paper will focus on two broad areas, integration of insurance products with investment products to mitigate the risk of outliving one’s assets in post-retirement financial planning. Modeling and pricing for the longevity risk in the secondary market in insurance.

Description: Defined benefit DB pension plans continue to dominate the retirement landscape for the roughly 20 million state and local government workers in the United States. In most state and local plans, pension benefits are protected by constitutional, statutory, or common law guarantees. In many cases, these guarantees make the benefit promises to participants virtually free of risk. Finance theory is unambiguous that the discount rate used to value future pension obligations should reflect the riskiness of the liabilities.

Description: Risk management and capital budgeting are two critical components of the corporate decision process. They often need to be considered jointly at the corporate level because of their natural interaction through the dependent risk exposures and other synergetic relationships within an intricate corporate structure in a dynamic business environment. . This paper develops an integrated framework that aligns these two important corporate strategies across business divisions to optimize the streamlined enterprise strategic goal in a multi-period setting. The proposed integrated framework can serve as a practical guideline for corporate executives to optimally coordinate capital budgeting and risk management at the enterprise level.

Description: This paper presents the output of in-house research on an emerging area of risk appetite management and our global implementation best practices. It intends to provide readers with detail implementation of risk appetite framework and assessment across an organization. It provides the conceptual risk appetite framework based model- developed by the author, implementation plan, and global best practices of a risk appetite assessment across an organization. It identifies the challenges and exceptions in the risk appetite assessment with an approach to manage it effectively, and helps organizations with cost-benefit analysis. It also includes an illustrative case study.

Description: In developing the economic assumptions for use in an appraisal, a team approach must be used. The investment bankers, external actuaries, and the company's financial area research current and historic economic conditions to develop an internally consistent base scenario. To be successful all parties must be comfortable with this scenario and its implications on production, investment yields, and, ultimately, distributable earnings. From Actuarial Considerations in Insurance Mergers and Acquisitions, M-FI03-1.