A recent US Treasury regulation allowed deferred longevity income annuities to be included in pension plan menus as a default payout solution, yet little research has investigated whether more people should convert some of the $15 trillion they hold in employer-based defined contribution plans...

In this paper, the number of years, Y it took for retirement income derived from the combination of an investment portfolio and a lifetime annuity to fall below a constant, inflation-linked, target income was investigated for retirees in the UK and US. The results indicate that there was a...

This paper investigates retirees' optimal purchases of fixed and variable longevity income annuities using their defined contribution (DC) plan assets and given their expected Social Security benefits. As an alternative, we also evaluate using plan assets to boost Social Security benefits...