{
  "title": "The Impact of Longevity Improvements on U.S. Corporate Defined Benefit Pension Plans",
  "publication": "IMF Working Papers, June 1, 2012",
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  "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.",
  "sections": [
    {
      "heading": "Key findings",
      "content": "- Each additional year of life expectancy increases pension liabilities by about 3 to 4 percent.\n- Each year of additional life expectancy would increase private U.S. DB pension plan liabilities by as much as $84 billion.\n- The effect of longevity improvements on liabilities is described as \"statistically highly significant\" and economically meaningful."
    },
    {
      "heading": "Methodology and data",
      "content": "- Uses detailed actuarial and financial information provided by the U.S. Department of Labor.\n- Constructs a longevity variable for each pension plan and measures the impact of varying life expectancy assumptions across plans and over time on pension plan liabilities."
    },
    {
      "heading": "Scope and subject coverage",
      "content": "- Focus: private U.S. defined benefit (DB) pension plans.\n- Subjects listed: Aging, Expenditure, Financial institutions, Health, Insurance, Labor, Pension spending, Pensions, Population and demographics.\n- Keywords include: Aging; benefit pension plans; DB pension plan provider; freedom pension plan sponsor; Global; group Annuity mortality table; Individual Annuity mortality table; Insurance; life expectancy; Longevity Risk; Mortality; mortality rate; mortality table; pension liability; Pension Plans; Pension spending; Pensions; WP.\n\n---\n\n Content in this bundle\n\n- wp12170\n  - wp12170 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - wp12170 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/the-impact-of-longevity-improvements-on-u-s-26028"
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    "Authors: John Kiff, Michael Kisser, Mauricio Soto, S. E Oppers",
    "Published: June 1, 2012",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781475505184.001",
    "Each additional year of life expectancy increases pension liabilities by about 3 to 4 percent.",
    "Each year of additional life expectancy would increase private U.S. DB pension plan liabilities by as much as $84 billion.",
    "The effect of longevity improvements on liabilities is described as \"statistically highly significant\" and economically meaningful.",
    "Uses detailed actuarial and financial information provided by the U.S. Department of Labor.",
    "Constructs a longevity variable for each pension plan and measures the impact of varying life expectancy assumptions across plans and over time on pension plan liabilities.",
    "Focus: private U.S. defined benefit (DB) pension plans.",
    "Subjects listed: Aging, Expenditure, Financial institutions, Health, Insurance, Labor, Pension spending, Pensions, Population and demographics.",
    "Keywords include: Aging; benefit pension plans; DB pension plan provider; freedom pension plan sponsor; Global; group Annuity mortality table; Individual Annuity mortality table; Insurance; life expectancy; Longevity Risk; Mortality; mortality rate; mortality table; pension liability; Pension Plans; Pension spending; Pensions; WP.",
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