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Autor
Forman Jonathan Barry (University of Oklahoma, USA)
Tytuł
Removing the Legal Impediments to Offering Lifetime Annuities in U.S. Pension Plans
Eliminacja przeszkód natury prawnej w kwestii renty dożywotniej oferowanej w ramach planów emerytalnych w Stanach Zjednoczonych
Źródło
Rozprawy Ubezpieczeniowe, 2017, nr 1(23), s. 13-27, bibliogr. 83 poz.
Journal of Insurance, Financial Markets & Consumer Protection
Słowa kluczowe
System emerytalny, Emerytury, Świadczenia emerytalno-rentowe, Oszczędności emerytalne
Pension schemes, Pensions, Pension benefits, Retirement savings
Uwagi
Klasyfikacja JEL: D14, G22, G23, G28, H24, H55, J14, J26, K31, K34
streszcz., summ.
Firma/Organizacja

Kraj/Region
Stany Zjednoczone Ameryki
United States of America (USA)
Abstrakt
Ryzyko długowieczności, czyli problem życia dłuższego niż okres, na który wystarczą oszczędności emerytalne, jest prawdopodobnie największą bolączką, która dotyka obecnych i przyszłych emerytów w Stanach Zjednoczonych. Współczesny 65-letni mężczyzna z 50% prawdopodobieństwem dożyje 82 lat i z 20% prawdopodobieństwem dożyje 89 lat, zaś 65-letnia kobieta, ma 50% szans na przeżycie 85 lat oraz 20% na dożycie 92 lat. Łączna średnia długość życia 65-letniej pary jest jeszcze bardziej zadziwiająca, z 50% prawdopodobieństwem przynajmniej jeden z partnerów dożyje 88 lat oraz z 30% prawdopodobieństwem jedno z nich dożyje 92 lat. Podsumowując, wiele osób i par będzie potrzebowało planu emerytalnego, oferującego wypłatę świadczenia przez okres 30 lat lub więcej. Jednym z najlepszych sposobów ochrony przed ryzykiem długowieczności jest zapewnienie dożywotniego strumienia wypłat w ramach tradycyjnego programu o zdefiniowanym świadczeniu lub renty dożywotniej. Przez lata nastąpił odwrót od tradycyjnych planów emerytalnych na rzecz programów o zdefiniowanej składce, które z reguły wypłacają świadczenia w formie jednorazowej a nie w formie renty dożywotniej, zaś świadczeniobiorcy rzadko kupują rentę dożywotnią na rynku detalicznym. Amerykanie będą przebywali z pewnością coraz dłużej na emeryturze, jednak coraz mniej z nich będzie miało stały i bezpieczny, dożywotni dochód. W niniejszym artykule dokonano analizy tego, jak zmiany w ustawach i regulacjach dotyczących emerytur oraz rent dożywotnich mogą pomóc w promowaniu renty dożywotniej jako formy wypłaty oszczędności emerytalnych. (abstrakt oryginalny)

Longevity risk - the risk of outliving one's retirement savings - is probably the greatest risk facing current and future retirees in the United States. At present, for example, a 65-year-old man has a 50% chance of living to age 82 and a 20% chance of living to age 89, and a 65-year-old woman has a 50% chance of living to age 85 and a 20% chance of living to age 92. The joint life expectancy of a 65-year-old couple is even more remarkable: there is a 50% chance that at least one 65-year-old spouse will live to age 88 and a 30% chance that at least one will live to 92. In short, many individuals and couples will need to plan for the possibility of retirements that can last for 30 years or more. One of the best ways to protect against longevity risk is by securing a stream of lifetime income with a traditional defined benefit pension plan or a lifetime annuity. Over the years, however, there has been a decided shift away from traditional pensions and towards defined contribution plans that typically distribute benefits in the form of lump sum distributions rather than as lifetime annuities, and people rarely buy annuities in the retail annuity market. All in all, Americans will have longer and longer retirements, yet fewer and fewer retirees will have secure, lifetime income streams. This article considers how changes in the laws and regulations governing pensions and annuities could help promote greater annuitization of retirement savings. (original abstract)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka Szkoły Głównej Handlowej
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
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Bibliografia
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ISSN
1896-3641
Język
eng
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