derive the optimal retirement portfolio from a menu that includes payout annuities as well as an investment allocation and a … allocation, when fixed as of retirement, is then compared to phased withdrawal strategies such a "self-annuitization" plan or the …

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

. Using a utility-of-terminal wealth approach which allows for loss aversion as discussed in prospect theory by Kahneman and …We compare the performance of the commonly nominated default retirement investment option, the lifecycle fund, to … increasing wealth threshold levels, a strategy with all equity allocations becomes dominant. The lifecycle portfolio is dominated …

In this paper, the effect of using retirement income from a variety of sources on initial income rate and the … to 2% over the course of the retirement period, the results indicate that including an inflation linked annuity provides …