Is Defined Contribution a Panacea for Defined Benefit Social Security Funding Problems?
The AERF Committee of TAF has awarded a grant to Doug Andrews, University of Waterloo, to expand the current body of knowledge on social security by identifying factors of financial markets, economics, and demographics necessary to enable a move from a defined benefit to defined contribution social security system, where both systems are partially or fully funded, including characteristics of financial markets necessary to support payments to retirees. Estimating the Actuarial Cost Function of Financial Distress Shaun Wang, Georgia State University, has received a grant from the AERF Committee of TAF and the CKER of the SOA to derive an analytical framework and perform empirical estimations of the actuarial cost function of financial distress. Actuarial and Financial Applications of Integral Functionals of Levy Processes Using a grant from the AERF, Daniel Dufresne, University of Melbourne, is researching integral exponential functionals in Probability Theory and their applications to
