, we measure the welfare improvements from including LIAs in the menu of plan payout choices, accounting for mortality …. Optimal annuitization boosts welfare by 5-20% of average retirement plan accruals at age 66 (assuming average mortality rates …

policy changes increased the gains from delay, particularly for couples. In addition, mortality improved and real interest …

couples. In this paper, we quantify the degree of actuarial advantage or disadvantage for individuals whose mortality differs … from the average. We find that at real interest rates close to zero, most households - even those with mortality rates that … historical average, however, singles with mortality that is substantially greater than average do not benefit from delay; however …

new panel data set of 75 cities for each year between 1929 and 1938 combines mortality rates for older age groups with …

discussion of dependency ratios. Two alternative measures of age are explored: mortality risk and remaining life expectancy. With …. However, the fraction of the population that is above a mortality rate that corresponds to 65+ today will grow by only 20 … percent. Needless to say, the aging of the society is a lot less dramatic with the alternative mortality-based age measures …

Using the widely-cited Lee-Carter mortality model, we quantify aggregate mortality risk as the risk that the average … substantial mortality risk. We calculate that a markup of 3.7% on an annuity premium (or else shareholders' capital equal to 3 … aggregate mortality trends to 5% and a markup of 5.4% would reduce the probability of insolvency to 1%. Using the same model, we …

major change in the Social Security law as exogenous variation in income to examine the impact of income on mortality in an … January 1, 1917 generally receive higher benefits than those born afterwards. We compare mortality rates after age 65 for … Mortality Detail File combined with Census data allows us to count all deaths among elderly Americans between 1979 and 1993. We …