Pension and Annuity Income PDF Download

Author: United States. Internal Revenue Service
Publisher:
ISBN:
Category :
Languages : en
Pages : 44

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Book Description

Author: United States. Internal Revenue Service
Publisher:
ISBN:
Category : Annuities
Languages : en
Pages : 180

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Book Description

Author: Ermanno Pitacco
Publisher: OUP Oxford
ISBN: 0191609420
Category : Business & Economics
Languages : en
Pages : 416

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Book Description
Mortality improvements, uncertainty in future mortality trends and the relevant impact on life annuities and pension plans constitute important topics in the field of actuarial mathematics and life insurance techniques. In particular, actuarial calculations concerning pensions, life annuities and other living benefits (provided, for example, by long-term care insurance products and whole life sickness covers) are based on survival probabilities which necessarily extend over a long time horizon. In order to avoid underestimation of the related liabilities, the insurance company (or the pension plan) must adopt an appropriate forecast of future mortality. Great attention is currently being devoted to the management of life annuity portfolios, both from a theoretical and a practical point of view, because of the growing importance of annuity benefits paid by private pension schemes. In particular, the progressive shift from defined benefit to defined contribution pension schemes has increased the interest in life annuities with a guaranteed annual amount. This book provides a comprehensive and detailed description of methods for projecting mortality, and an extensive introduction to some important issues concerning longevity risk in the area of life annuities and pension benefits. It relies on research work carried out by the authors, as well as on a wide teaching experience and in CPD (Continuing Professional Development) initiatives. The following topics are dealt with: life annuities in the framework of post-retirement income strategies; the basic mortality model; recent mortality trends that have been experienced; general features of projection models; discussion of stochastic projection models, with numerical illustrations; measuring and managing longevity risk.

Author: Moshe A. Milevsky
Publisher: Cambridge University Press
ISBN: 1139454862
Category : Business & Economics
Languages : en
Pages : 301

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Book Description
This 2006 book introduces and develops the basic actuarial models and underlying pricing of life-contingent pension annuities and life insurance from a unique financial perspective. The ideas and techniques are then applied to the real-world problem of generating sustainable retirement income towards the end of the human life-cycle. The role of lifetime income, longevity insurance, and systematic withdrawal plans are investigated in a parsimonious framework. The underlying technology and terminology of the book are based on continuous-time financial economics by merging analytic laws of mortality with the dynamics of equity markets and interest rates. Nonetheless, the book requires a minimal background in mathematics and emphasizes applications and examples more than proofs and theorems. It can serve as an ideal textbook for an applied course on wealth management and retirement planning in addition to being a reference for quantitatively-inclined financial planners.

Author: United States Accounting Office
Publisher:
ISBN: 9781467999137
Category :
Languages : en
Pages : 78

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Book Description
This report responds to your request that we review the adequacy of protections available for retirees who receive their private pension benefits in the form of an insurance company annuity. In the report we recommend to the Secretary of Labor that the Department issue formal guidance to assist pension plan fiduciaries in selecting annuity providers. To improve retirement benefit protections, we make additional recommendations to the Secretary and to the Executive Director of the Pension Benefit Guaranty Corporation (PBGC). As agreed with your office, unless you publicly announce its contents earlier, we plan no further distribution of this report until 21 days from the date of this letter. At that time, we will send copies to the Secretary of Labor; Executive Director, PBGC; Director, Office of Management and Budget; and interested congressional committees. Copies will be made available to others upon request.

Author: United States. Internal Revenue Service
Publisher:
ISBN:
Category : Annuities
Languages : en
Pages : 32

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Book Description

Author: Mark Warshawsky
Publisher: MIT Press
ISBN: 0262016931
Category : Business & Economics
Languages : en
Pages : 277

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Book Description
Strategies, products, and public policies that will help a new generation of retirees maximize income and minimize risk. As members of the baby boom generation head into retirement, they face an economic environment that has changed noticeably since their parents retired. Most of these new retirees will not be equipped, as many in the earlier generation were, with private pension plans, early retirement options, and fully paid retiree health benefits in addition to Social Security and Medicare. Today it is increasingly left to retirees themselves to plan how to maximize retirement income and minimize risk. In Retirement Income, Mark Warshawsky and his colleagues describe strategies, products, and public policies that will help a new generation achieve financial security and income growth in retirement. Warshawsky, a noted expert in the field who has worked in both government and private industry, analyzes two insurance vehicles, life annuities and long-term care insurance, and their capacity to protect against the extra costs arising from longevity and disability. He proposes two innovations. The first is a strategy that includes a set percentage withdrawal from a balanced portfolio, which is gradually used to purchase a ladder of life annuities. The second proposal, which includes a description of the potential choices in product design and available tax characteristics, is a product that integrates the immediate life annuity and long-term care insurance. With Retirement Income, Warshawsky offers practical ideas based on the results of empirical investigations and analyses, which can be applied to household decision making by retirees and their financial planners and to the design of insurance products and public policy.

Author: United States. General Accounting Office
Publisher:
ISBN:
Category : Annuities
Languages : en
Pages : 36

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Book Description

Author: United States. Congress. Senate. Committee on Finance
Publisher:
ISBN:
Category : Insurance, Pension trust guaranty
Languages : en
Pages : 88

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Book Description

Author: George A. (Sandy) Mackenzie
Publisher: Cambridge University Press
ISBN: 1139458086
Category : Business & Economics
Languages : en
Pages : 37

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Book Description
This 2006 book treats two vital public policy issues: how should distributions from individual accounts be regulated, and how can the market for private annuities function better? It provides a comprehensive survey of the issues that arise when contributors to individual accounts become eligible for distributions. It also addresses the questions of whether annuitization or other restrictions on distributions should be mandatory, and if so, can the provision of annuities be privatized? Its analytical framework is applicable to a broad range of countries. Given the diminishing importance of public pensions around the world, the growing number of the elderly, and the increasing importance of defined contribution plans, the voluntary demand for private annuities is going to grow. It is vital that annuities be reasonably priced and that the annuity market be effectively regulated. The book investigates both issues, and proposes reforms to enhance the efficiency of the annuity market.