Optimizing the aging, retirement, and pensions dilemma

"Written in a straightforward and accessible style, this book offers valuable advice on today's toughest retirement issues, and shows how government and corporate entities can help while assessing the risks to their own balance sheets. It also addresses some of the macroeconomic issues, asking whether an economy can effectively save without investing in productive assets." "The authors begin by exploring the key issues in retirement, including changing demographics and the shift from defined benefit to defined contribution plans. They discuss various asset classes and how they might be used for saving for retirement. The authors analyze the 2007-2009 economic crisis and its impact on retirement assets and future retirement practice. In Part II, they offer more in-depth analyses of key issues, such as asset allocation in government-owned pensions, individual asset-liability management and the role of annuities, insurance, and managed withdrawal plans, and more. Finally, in Part III, they bring the various issues together to present an all-encompassing modeling framework. While complex to implement, such models provide a good way to plan and take various future scenarios into account in these uncertain, ever-changing times."--Jacket.