[I] f you observe, people always live forever when there is any annuity to be paid them... An
annuity is a very serious business; it comes over and over every year, and there is no getting …

The fact that most elderly US individuals maintain a flat age-wealth profile, rather than buy
individual life annuities, contradicts the standard life-cycle consumption model. Average …

Annuity insurance products help protect retirees against outliving their incomes. Dramatic
advances in life expectancy mean that today's retirees must plan on living into their eighties, …

We examine the implications of the positive correlation of mortality and disability for the
benefits of combining an immediate income annuity with long-term care disability coverage at …

The goal of this paper is to explore the sustainability of investment portfolio withdrawals using
two distinct methodologies-historical analysis and Monte Carlo simulations-to address the …

In this era emphasizing individual economic responsibility, policymakers and the media often
pose a question that many of us ask ourselves:" Will current workers retire in comfort?" This …

The authors consider an integrated income and disability annuity as an alternative framework
for long-term care financing, show that pooling disability and mortality risks can reduce the …

… In Retirement Income, Mark Warshawsky and his colleagues … Warshawsky, a noted expert
in the field who has worked in … With Retirement Income, Warshawsky offers practical ideas …

Whether US workers are saving adequately for retirement is an important subject for employer
and public policy. The optimal target levels of retirement savings are here determined …

The aging of the baby boom generation, the lengthening of life spans, and the political shift
away from government and employer solutions to retirement issues toward individual …