Measures of Retirement Benefit Adequacy: Which, Why, for Whom, and How Much? Sponsored by Society of Actuaries Pension Section and Pension Section Research Committee. Prepared by, Vickie Bajtelsmit, Anna Rappaport, LeAndra Foster, January 2013
“This report focuses on measuring retirement benefit adequacy in light of both expected and unexpected expenses in retirement and linking the measurement to the needs and objectives of different stakeholder groups. The report begins with a conceptual discussion of benefit adequacy and the various ways it has been and can be measured. Adequacy measures examined include replacement ratios, projected expenditures, and minimum societal standards. Both income needs and lump sum equivalents are considered. Different measures are better suited to the needs of different stakeholders and at different life stages.”
