To enable investors to spend down the assets in their defined contribution accounts more
easily, the authors propose a decumulation benchmark comprising a laddered portfolio of TIPS …

… Stephen C. Sexauer is the chief investment officer, US multi-asset, at Allianz Global … The
postretirement decumulation strategy is described in greater detail in Sexauer et al. (2012) and …

We celebrate the life, work, and intellectual legacy of Harry Markowitz (1927–2023). Professor
Markowitz’s philosophy and math have guided portfolio construction and asset allocation …

Most Americans retire around age 65 because of a decision made in Germany more than a
century ago. Today, this is not economically practical and fights human nature. While some …

Zero and negative nominal interest rates are something new under the sun. In 3,800 years
of history, we’ve only observed near-zero rates a few times, and almost never negative ones. …

Many public defined-benefit pension plans, after entering this century adequately funded,
have become seriously underfunded because pension sponsors behaviorally" anchored" on …

While investment theory and technology offer rational ways to deal with uncertainty, it is
more human simply to run away from it. One place people run to is mythology, in this case …

How good were the good old days? Was the post-World War II economic boom in the United
States and other developed countries a truly special period, one that we cannot expect to …

In Debunking 7½ Myths of Investing from the June 2022, 30th anniversary special issue of
The Journal of Investing, authors Laurence Siegel (of the CFA Research Foundation) and …

The approach to alternatives adopted by defined-benefit (DB) plans is not based on a simple
formula that can automatically be deployed in defined-contribution (DC) plans, they caution…