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The impact of longevity improvements on U.S. corporate defined benefit pension plans /
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 ea...
| Clasificación: | Libro Electrónico |
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| Autor principal: | |
| Autores Corporativos: | , |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
[Washington, D.C.] :
International Monetary Fund,
©2012.
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| Colección: | IMF working paper ;
WP/12/170. |
| Temas: | |
| Acceso en línea: | Texto completo |
| Sumario: | 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. |
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| Notas: | Title from PDF title page (IMF Web site, viewed July 7, 2012). "Monetary and Capital Markets and Fiscal Affairs Department." "June 2012." |
| Descripción Física: | 1 online resource (34 pages) |
| Bibliografía: | Includes bibliographical references. |
| ISBN: | 1475554974 9781475554977 1475505183 9781475505184 1475568096 9781475568097 1475526768 9781475526769 |