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Daily Archives: May 4, 2015

Making Sense Out of Variable Spending Strategies for Retirees

Pfau, Wade D., Making Sense Out of Variable Spending Strategies for Retirees (March 16, 2015). Available for download at SSRN: http://ssrn.com/abstract=2579123 or http://dx.doi.org/10.2139/ssrn.2579123

“Variable spending strategies can be situated on a continuum between two extremes: spending a constant amount from the portfolio each year without regard for the remaining portfolio balance, and spending a fixed percentage of the remaining portfolio balance. Variable spending strategies seek compromise between these extremes by avoiding too many spending cuts while also protecting against the risk that spending must subsequently fall to uncomfortably low levels. Two basic categories for variable spending rules explored include decision rule methods and actuarial methods. Ten strategies will be compared using a consistent set of portfolio return and fee assumptions, and using an XYZ formula to calibrate initial spending: the client willingly accepts an X% probability that spending falls below a threshold of $Y (in inflation-adjusted terms) by year Z of retirement. Presenting the distribution of spending and wealth outcomes for different strategies in which the initial spending rate is calibrated with the XYZ formula will allow for a more meaningful comparison of strategies. The article provides a framework for identifying appropriate spending strategies based on client preferences.”

OCLC Research: 2014 Highlights

“OCLC Research: 2014 Highlights describes the mission and goal of OCLC Research and explains the way in which our work is organized around four themes: Research Collections and Support, Data Science, Understanding the System-wide Library, and User Studies. Each theme is presented in its own section that includes highlights of key deliverables in 2014, including… Continue Reading

House Members Introduce Student Privacy Bill

EPIC – “Congressmen Luke Messer (R-IN) and Jared Polis (D-CO) have introduced the “Student Digital Privacy and Parental Rights Act of 2015.” The student privacy bill would prohibit companies from selling student information, using student information for targeted advertising, or otherwise disclosing student information for non-educational purposes. The Student Digital Privacy Act would implement portions… Continue Reading

CRS Report – Civilian Nuclear Waste Disposal

Civilian Nuclear Waste Disposal, Mark Holt, Specialist in Energy Policy. April 24, 2015. “Management of civilian radioactive waste has posed difficult issues for Congress since the beginning of the nuclear power industry in the 1950s. Federal policy is based on the premise that nuclear waste can be disposed of safely, but proposed storage and disposal… Continue Reading

European Fighters in Syria and Iraq: Assessments, Responses, and Issues for the United States

CRS Report – European Fighters in Syria and Iraq: Assessments, Responses, and Issues for the United States, April 27, 2015. “The rising number of U.S. and European citizens traveling to fight with rebel and terrorist groups in Syria and Iraq has emerged as a growing concern for U.S. and European leaders, including Members of Congress.… Continue Reading

Mandatory Minimum Sentencing Legislation in the 114th Congress

CRS Report – Mandatory Minimum Sentencing Legislation in the 114th Congress. Charles Doyle Senior Specialist in American Public Law, April 29, 2015. “A surprising number of federal crimes carry mandatory minimum terms of imprisonment; that is, they are punishably by imprisonment for a term of not less than some number of years. During the 114th… Continue Reading

Study – Supplementary feeding restructures urban bird communities

“Food availability is a primary driver of avian population regulation. However, few studies have considered the effects of what is essentially a massive supplementary feeding experiment: the practice of wild bird feeding. Bird feeding has been posited as an important factor influencing the structure of bird communities, especially in urban areas, although experimental evidence to… Continue Reading

Algorithmic Trading Briefing Note

New York Fed: “High-frequency trading (“HFT”), or high-speed trading (“HST”), a type of algorithmic (or “algo”) trading, is now a well-known feature of the global market landscape. In many markets, a small number of firms may account for a large proportion of trading volume. Although it has been argued that HFT has lowered investors’ trading… Continue Reading