LEADER 05115oam 22013094 450 001 9910820534803321 005 20200520144314.0 010 $a1-4755-2676-8 010 $a1-4755-6809-6 035 $a(CKB)2670000000278833 035 $a(EBL)1606823 035 $a(SSID)ssj0000940742 035 $a(PQKBManifestationID)11532937 035 $a(PQKBTitleCode)TC0000940742 035 $a(PQKBWorkID)10955477 035 $a(PQKB)11439629 035 $a(Au-PeEL)EBL1606823 035 $a(CaPaEBR)ebr10627054 035 $a(OCoLC)798586242 035 $a(IMF)WPIEE2012170 035 $a(IMF)WPIEA2012170 035 $a(MiAaPQ)EBC1606823 035 $a(EXLCZ)992670000000278833 100 $a20020129d2012 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 14$aThe Impact of Longevity Improvements on U.S. Corporate Defined Benefit Pension Plans /$fJohn Kiff, Michael Kisser, Mauricio Soto, S. Oppers 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2012. 215 $a1 online resource (35 p.) 225 1 $aIMF Working Papers 300 $aDescription based upon print version of record. 311 $a1-4755-5497-4 311 $a1-4755-0518-3 320 $aIncludes bibliographical references. 327 $aCover; 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 1 330 3 $aThis 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 $84 billion. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2012/170 606 $aDefined benefit pension plans$zUnited States 606 $aLongevity$zUnited States 606 $aActuarial Studies$2imf 606 $aAging$2imf 606 $aDemography$2imf 606 $aEconomics of the Elderly$2imf 606 $aEconomics of the Handicapped$2imf 606 $aExpenditure$2imf 606 $aFinancial institutions$2imf 606 $aFinancial Instruments$2imf 606 $aHealth economics$2imf 606 $aHealth$2imf 606 $aHealth: General$2imf 606 $aInstitutional Investors$2imf 606 $aInsurance & actuarial studies$2imf 606 $aInsurance Companies$2imf 606 $aInsurance$2imf 606 $aLabor$2imf 606 $aNon-bank Financial Institutions$2imf 606 $aNon-labor Market Discrimination$2imf 606 $aNonwage Labor Costs and Benefits$2imf 606 $aPension Funds$2imf 606 $aPension spending$2imf 606 $aPensions$2imf 606 $aPopulation & demography$2imf 606 $aPopulation aging$2imf 606 $aPopulation and demographics$2imf 606 $aPrivate Pensions$2imf 606 $aPublic Finance$2imf 606 $aSocial Security and Public Pensions$2imf 607 $aUnited States$2imf 615 0$aDefined benefit pension plans 615 0$aLongevity 615 7$aActuarial Studies 615 7$aAging 615 7$aDemography 615 7$aEconomics of the Elderly 615 7$aEconomics of the Handicapped 615 7$aExpenditure 615 7$aFinancial institutions 615 7$aFinancial Instruments 615 7$aHealth economics 615 7$aHealth 615 7$aHealth: General 615 7$aInstitutional Investors 615 7$aInsurance & actuarial studies 615 7$aInsurance Companies 615 7$aInsurance 615 7$aLabor 615 7$aNon-bank Financial Institutions 615 7$aNon-labor Market Discrimination 615 7$aNonwage Labor Costs and Benefits 615 7$aPension Funds 615 7$aPension spending 615 7$aPensions 615 7$aPopulation & demography 615 7$aPopulation aging 615 7$aPopulation and demographics 615 7$aPrivate Pensions 615 7$aPublic Finance 615 7$aSocial Security and Public Pensions 676 $a332.152 700 $aKiff$b John$01681925 701 $aKisser$b Michael$01715899 701 $aOppers$b S$01770386 701 $aSoto$b Mauricio$01082925 801 0$bDcWaIMF 906 $aBOOK 912 $a9910820534803321 996 $aThe Impact of Longevity Improvements on U.S. Corporate Defined Benefit Pension Plans$94250881 997 $aUNINA