that imposes on financial advisers to retirement savers “fiduciary” status under the Employee Retirement Income Security … advisers to retirement savers. The article also canvasses the customary role of an investment policy statement in promoting … Act. The Department reasoned that the fiduciary duty of loyalty was necessary to protect retirement savers from conflicted …

In this paper, the effect of using retirement income from a variety of sources on initial income rate and the … survivability of the income is investigated. The sources of income include pre-existing (‘baseline’) inflation linked guaranteed … income (e.g., state pension and uncapped direct benefit pensions), immediate annuities (including level, and those with …

assumptions, there is almost always a ‘crossover point’ during retirement at which moving out of drawdown into an annuity can be … older ages, than staying wholly in drawdown or from buying an annuity at the point of retirement …

to hedge significant longevity risk beyond life expectancy, and that for most retirees, the more effective way to improve … retirement outcomes is simply to implement the rising equity glide path that bucketed SPIA strategies indirectly create …

retirement and two types of individuals, who differ in their life expectancy. In order to introduce the existence of limited …-time pension insurance, we consider a model where for each period of retirement separate contracts can be purchased. Demand for the … two periods can be decided either sequentially or simultaneously. We show that only a situation where all risk types …

-employment income to the retiree. At the same time, most retirees want to leave an estate to their heirs. Guaranteed income can be … with risk measured by CVaR and additional sophisticated constraints. The cash outflow shortages are penalized in the … using two variations of the model. The parameters used in this case study correspond to a typical retirement situation. The …