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Title The impact of longevity improvements on U.S. corporate defined benefit pension plans / prepared by Michael Kisser [and others].

Publication Info. [Washington, D.C.] : International Monetary Fund, [2012]
©2012
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Description 1 online resource (34 pages).
text file
Series IMF working paper ; WP/12/170
IMF working paper ; WP/12/170.
Note Title from PDF title page (IMF Web site, viewed Jul. 7, 2012).
Summary 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.
Bibliography Includes bibliographical references.
Note "Monetary and Capital Markets and Fiscal Affairs Department."
"June 2012."
Local Note eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America
Subject Pensions -- United States -- Econometric models.
Pensions.
United States.
Econometric models.
Longevity -- United States -- Econometric models.
Longevity.
Life expectancy -- United States -- Econometric models.
Life expectancy.
Genre/Form Electronic books.
Added Author Kisser, Michael.
International Monetary Fund. Monetary and Capital Markets Department.
International Monetary Fund. Fiscal Affairs Department.
ISBN 1475554974 electronic book
9781475554977 electronic book

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