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Kristen Moore's Abstract

Individuals face competing objectives in retirement planning. Do they want a steady stream of guaranteed income? Do they want to accumulate wealth for healthcare costs, bequest, or unforeseen expenses? Or do they want some combination of the two? How can an individual investor structure her retirement portfolio to balance these competing objectives and achieve an optimal outcome? Through the University of Michigan’s Industry Partnership Program (IPP), UofM undergraduate students and faculty collaborated with practicing actuaries in insurance and consulting firms on summer projects to address these questions. I will present some of our work, including the students’ investigation of hybrid pension plans and Life Insurance Retirement Plans (LIRPs).