The Impact of Longevity Improvements on U.S. Corporate Defined Benefit Pension Plans / / John Kiff, Michael Kisser, Mauricio Soto, S. Oppers

• Autore: Kiff John
• Pubblicazione: Washington, D.C. : , : International Monetary Fund, , 2012
• Edizione: 1st ed.
• Descrizione fisica: 1 online resource (35 p.)
• Disciplina: 332.152
• Soggetto topico: Defined benefit pension plans - United States; Longevity - United States; Actuarial Studies; Aging; Demography; Economics of the Elderly; Economics of the Handicapped; Expenditure; Financial institutions; Financial Instruments; Health economics; Health; Health: General; Institutional Investors; Insurance & actuarial studies; Insurance Companies; Insurance; Labor; Non-bank Financial Institutions; Non-labor Market Discrimination; Nonwage Labor Costs and Benefits; Pension Funds; Pension spending; Pensions; Population & demography; Population aging; Population and demographics; Private Pensions; Public Finance; Social Security and Public Pensions
• Soggetto geografico: United States
• Altri autori: KisserMichael OppersS SotoMauricio
• Note generali: Description based upon print version of record.
• Nota di bibliografia: Includes bibliographical references.
• Nota di contenuto: 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 1
• Sommario/riassunto: 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.
• Titolo autorizzato: The Impact of Longevity Improvements on U.S. Corporate Defined Benefit Pension Plans
• ISBN: 1-4755-2676-8; 1-4755-6809-6
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910820534803321
• Lo trovi qui: Univ. Federico II
• Serie: IMF Working Papers; Working Paper ; ; No. 2012/170