Almost a century and half of evidence suggests that only individuals who start saving for retirement in the later stages of population busts and the early stages of population booms spend most of their retirement planning phase in bull stock markets with tame inflation, thus benefiting greatly...

Administration of defined contribution retirement plans is generally outsourced by plan sponsors to third-party financial institutions, resulting in two primary types of plan fees. While investment fund fees in defined contribution plans have been heavily scrutinized, the administrative fees...

Collectively, Americans are woefully unprepared financially for retirement. This retirement problem actually reflects a collection of diverse issues. This paper identifies the most important ones: longevity; access; contributions; portability; behavioral mistakes; funded status; expenses; and...

Robert Powell, Retirement Management Journal editor-in-chief; David John, a nonresident senior fellow in economic studies at Brookings and a senior strategic policy advisor at the AARP Public Policy Institute focusing on pension and retirement savings issues; and Nevin Adams, then chief content...

Dr. Brown shares his thoughts on how the defined contribution system could leverage its resources and expertise to provide a new tool for managing the key risks in retirement – longevity, medical expenditures and inflation – with a holistic Retirement Security Product (RSP)

The premise of this article is that there is no effective scientific approach to retirement financial planning. Given this, it is incumbent upon us to thoroughly understand our present financial position and then evaluate how we will manage our finances given a range of possible future outcomes....

An important challenge facing employees and societies is saving and investing sufficient funds for a comfortable retirement. Research shows that human financial decision-making behavior is not always rational and that public trust in the economy can be lost. Surprisingly, neither better...

Most defined contribution pension plans pay benefits as lump sums, yet the US Treasury has recently encouraged firms to protect retirees from outliving their assets by converting a portion of their plan balances into longevity income annuities (LIA). These are deferred annuities which initiate...

The purpose of this study is twofold. On one hand we derive an optimal allocation framework between stocks and bonds, with and without a momentum factor, taking into account a regime-switching model based on monthly equity and interest rate data since 1870. On the other, we investigate the...