In this project, we study the issue of gender disparity in mortality improvement trends. We first develop a statistical test to examine the extent of such disparity for different age groups, and then apply the proposed test to mortality data from various Asia-Pacific countries. Our preliminary...

In this paper, we discuss optimal design for stylized Intergenerational Risk Sharing (IRS) pension plans. We study an IRS plan under which both contributions and pension benefits are adjusted based on the level of pension assets. Our optimization focuses on the stability of members' lifetime...

In this paper we consider three types of embedded options in pension benefit design.The first is the Florida second election (FSE) option, which has been offered to public employees in the state of Florida since 2002. The state runs both defined contribution (DC) and defined benefit (DB) pension...