How Do Retirees Value Life Annuities? Evidence from Public Employees [PDF]
Economists have long been puzzled by the low demand for life annuities. To shed new light on this puzzle, we study payout choices in the Oregon Public Employees Retirement System, where each retiree must choose between a lump sum and a life annuity ...
Jonathan Reuter, John Chalmers
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The evolution from life insurance to financial engineering. [PDF]
Geneva Risk Insur Rev, 2021 Koijen RSJ, Yogo M.
europepmc +1 more source
Tax incentives for private life annuities and the social security reform: Effects on consumption and on adverse selection [PDF]
In this paper we analyse several measures which are typically included in a social security reform: a cut in the social security benefits, an increase in the social security tax and tax incentives for the purchase of private life annuities, which have ...
Susanne Pech
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Why Was There More Household Stock Market Participation During the COVID-19 Pandemic? [PDF]
Financ Res Lett, 2022 Zheng W, Li B, Huang Z, Chen L.
europepmc +1 more source
Differential Mortality and the Value of Individual Account Retirement Annuities [PDF]
This paper examines the extent of redistribution that would occur under various annuity and bequest options as part of an individual accounts retirement program.
Jeffrey R. Brown
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The Role of Real Annuities and Indexed Bonds in an Individual Accounts Retirement Program [PDF]
We explore four issues concerning annuitization options that retirees might use in the decumulation phase of an individual accounts' retirement saving system. First, we investigate the operation of both real and nominal annuity individual annuity markets
Olivia S. Mitchell +2 more
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Lifecycle Portfolio Choice with Systematic Longevity Risk and Variable Investment-Linked Deferred Annuities [PDF]
This paper assesses the impact of variable investment-linked deferred annuities (VILDAs) on lifecycle consumption, saving, and portfolio allocation patterns given stochastic and systematic mortality.
Raimond Maurer +3 more
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A summary and update of developing annuities markets : the experience of Chile [PDF]
The rapid growth of the market for retirement products in Chile has its origins in the pension reform that was implemented in 1981. But the successful development of an active annuity market also reflects many other factors.
Rudolph, Heinz P., Rocha, Roberto
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Pricing participating longevity-linked life annuities: a Bayesian Model Ensemble approach. [PDF]
Eur Actuar J, 2022 Bravo JM.
europepmc +1 more source
Wealth Effects of Banks' Rights to Market and Originate Annuities [PDF]
We examine wealth effects, for banks and insurers, of bank rights to sell and underwrite annuities. The stock-price reactions to four court and regulatory decisions are consistent with expectations of bank gains at insurers' expense.
Jann C. Howell +2 more
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