The Leading eBooks Store Online 4,272,009 members ⚫ 1,419,367 ebooks

New to eBooks.com?

Learn more

The Impact of Longevity Improvements on U.S. Corporate Defined Benefit Pension Plans

The Impact of Longevity Improvements on U.S. Corporate Defined Benefit Pension Plans by John Kiff
Buy this eBook
US$ 9.00
(If any tax is payable it will be calculated and shown at checkout.)
This paper provides the first empirical assessment of the impact of life expectancy assumptions on the liabilities of private U.S. defined benefit (DB) pension plans. Using detailed actuarial and financial information provided by the U.S. Department of Labor, we construct a longevity variable for each pension plan and then measure the impact of varying life expectancy assumptions across plans and over time on pension plan liabilities. The results indicate that each additional year of life expectancy increases pension liabilities by about 3 to 4 percent. This effect is not only statistically highly significant but also economically: each year of additional life expectancy would increase private U.S. DB pension plan liabilities by as much as $84 billion.
International Monetary Fund; June 2012
34 pages; ISBN 9781475568097
Read online, or download in secure EPUB or secure PDF format
Title: The Impact of Longevity Improvements on U.S. Corporate Defined Benefit Pension Plans
Author: John Kiff; Michael Kisser; Mauricio Soto; Stefan E. Oppers