05115oam 22013094 450 991082053480332120240402045338.01-4755-2676-81-4755-6809-6(CKB)2670000000278833(EBL)1606823(SSID)ssj0000940742(PQKBManifestationID)11532937(PQKBTitleCode)TC0000940742(PQKBWorkID)10955477(PQKB)11439629(Au-PeEL)EBL1606823(CaPaEBR)ebr10627054(OCoLC)798586242(IMF)WPIEE2012170(IMF)WPIEA2012170(MiAaPQ)EBC1606823(EXLCZ)99267000000027883320020129d2012 uf 0engur|n|---|||||txtccrThe Impact of Longevity Improvements on U.S. Corporate Defined Benefit Pension Plans /John Kiff, Michael Kisser, Mauricio Soto, S. Oppers1st ed.Washington, D.C. :International Monetary Fund,2012.1 online resource (35 p.)IMF Working PapersDescription based upon print version of record.1-4755-5497-4 1-4755-0518-3 Includes bibliographical references.Cover; Contents; I: Introduction; II: Related Literature; III: Data; IV: Analysis; A: A Simple Valuation Model; B: Main Results; C: Additional Robustness Checks; V: Conclusion; References; Appendix 1This 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.IMF Working Papers; Working Paper ;No. 2012/170Defined benefit pension plansUnited StatesLongevityUnited StatesInsuranceimfLaborimfPublic FinanceimfDemographyimfPension FundsimfNon-bank Financial InstitutionsimfFinancial InstrumentsimfInstitutional InvestorsimfNonwage Labor Costs and BenefitsimfPrivate PensionsimfSocial Security and Public PensionsimfHealth: GeneralimfEconomics of the ElderlyimfEconomics of the HandicappedimfNon-labor Market DiscriminationimfInsurance CompaniesimfActuarial StudiesimfPensionsimfHealth economicsimfPopulation & demographyimfInsurance & actuarial studiesimfPension spendingimfHealthimfAgingimfExpenditureimfPopulation and demographicsimfFinancial institutionsimfPopulation agingimfUnited StatesimfDefined benefit pension plansLongevityInsuranceLaborPublic FinanceDemographyPension FundsNon-bank Financial InstitutionsFinancial InstrumentsInstitutional InvestorsNonwage Labor Costs and BenefitsPrivate PensionsSocial Security and Public PensionsHealth: GeneralEconomics of the ElderlyEconomics of the HandicappedNon-labor Market DiscriminationInsurance CompaniesActuarial StudiesPensionsHealth economicsPopulation & demographyInsurance & actuarial studiesPension spendingHealthAgingExpenditurePopulation and demographicsFinancial institutionsPopulation aging332.152Kiff John1681925Kisser Michael1715899Soto Mauricio1082925Oppers S1715900DcWaIMFBOOK9910820534803321The Impact of Longevity Improvements on U.S. Corporate Defined Benefit Pension Plans4110859UNINA