Research Reports

From Watson Wyatt Worldwide
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18: The untapped skilled labor of Latin America

Rodrigo Lluberas

17: India's skilled labor supply: myth or reality?

Vrinda Gupta

16: CEE’s dwindling skilled labor supply: the vagaries of unfavorable demographics

Rohit Das and Esha Mendiratta

15: How does the market value healthcare liabilities?

Natalia Aranco and Rodrigo Lluberas

14: Are US Multinationals Making Rational Offshoring Decisions? A Gravity Model Approach

Vrinda Gupta

13: Labour Supply of Older Workers in the UK: Is there a Link with Pension Provisions?

Watson Wyatt Worldwide

12: The Effect of Pensions on Job Mobility: Empirical Evidence for the UK

Rodrigo Lluberas

11: Are spending policies of European foundations sustainable?

Mirko Cardinale, Richard Purcell and Marcus Bishop

10: For how long will defined benefit liabilities continue to grow?

Santiago Caballero

9: Who has what it takes? Determining the main constraints of labor markets in BRIC and Eastern Europe

GRS Montevideo Irene Mussio

8: Wealth Shock and Impact of Health on Risk Aversion and Savings

Watson Wyatt Worldwide

7: Reform of the Tax on Reversions of Excess Pension Assets

Mark J. Warshawsk Gaobo Pang

6: Pension Options Valuation and Hedging Bounds

Tao Hao

5: Option Pricing and Hedging Bounds in Incomplete Markets

Tao Hao

4: Optimizing the Equity-Bond-Annuity Portfolio in Retirement: The Impact of Uncertain Health Expenses

Mark J. Warshawsk Gaobo Pang

3: Tax-Deferred Savings and Early Retirement

Gaobo Pang

2: With the passage of the Pension Protection Act of 2006 and the Department of Labor regulation regarding qualified default investment alternatives, automatic enrollment and default investments featuring more equities are likely to become more popular. This analysis compares the investment performance of a balanced fund and a lifecycle fund, using average asset allocations observed on the market. Simulations show that the balanced fund is more likely to outperform the lifecycle fund, but its more aggressive approach also leaves plan participants vulnerable to losses as retirement approaches. The lifecycle fund is better at safeguarding wealth in a downward market, while still doing a reasonable job of building wealth. The typical lifecycle fund, however, with a large cash position at retirement, forgoes hedging opportunities for the purchase of immediate life annuities. Neither fund is a sure win over the near-risk-free Treasury Inflation-Protected Securities

Mark J. Warshawsk Gaobo Pang

1: The Retirement Decision: Current Influences on the Timing of Retirement among Older Workers

Gaobo Pang, Mark J. Warshawsk, Ben Weitzer