Retirement for the AGES

The American Academy of Actuaries' initiative, Retirement for the AGES, is intended to focus attention on the United States retirement-income system, which needs to be strengthened to improve financial security for retired Americans.

The AGES Framework

Retirement for the AGES provides a framework based on fundamental principles by which the Academy will illustrate the strengths and shortcomings of retirement systems and proposals to reform them. It addresses the needs of retirement plan stakeholders in both the private and public sectors. The framework is based upon four key principles with specific elements that can be graded or scored:

Alignment – between stakeholders’ roles and their competencies.

Governance – that defines roles, reduces conflicts of interest, manages competing needs, and properly staffs boards.

Efficiency – in maximizing returns and minimizing risks.

Sustainability – of the system; achieved through appropriate cost allocation and protection from extraordinary market gyrations and inflation.

Retirement for the AGES Assessments and Resources

Australian Superannuation Guarantee Program Assessment (Aug. 31, 2020)
Maine Retirement System Assessment (Nov. 5, 2019)
News Release, "Major Retirement Systems and Public Policy Proposals Graded by Actuaries" (Jan. 8, 2015)
South Dakota Retirement System Assessment (Nov. 13, 2014)
USA Retirement Funds Assessment (Nov. 13, 2014)
New Brunswick Shared Risk Model Assessment (Nov. 13, 2014)
Traditional Defined Benefit Plan Under Current System Assessment (Nov. 13, 2014)
Safe Harbor Defined Contribution Plan Under Current System Assessment (Nov. 13, 2014)
Retirement for the AGES: Measuring for Success Presentations (April 28, 2014)
Retirement for the AGES Monograph (Jan. 17, 2014)
Capitol Hill Briefing Presentation (Jan. 17, 2014)
News Release, “Actuaries Unveil Critical Approach to Assessing Nation’s Retirement-Income Challenges” (Jan. 17, 2014)

Retirement for the AGES Forum

The Academy hosted a special forum, Retirement for the AGES: Measuring for Success, on April 28, 2014 at the Ronald Reagan International Trade Center in Washington, D.C. The forum, sponsored by the Academy’s Pension Practice Council, brought together retirement thought leaders for an in-depth discussion and assessment of retirement plans and recent proposals using the Academy’s new framework for retirement-income systems.

Media Coverage

New report urges leaders to work together towards a sustainable pension system, Yahoo Finance (Feb. 3, 2015)
Provincial News: New report urges leaders to work together towards a sustainable pension system, NorthumberlandView.ca (Feb. 3, 2015)
New report urges leaders to work together towards a sustainable pension system, Money News (Feb. 3, 2015)
Fixing U.S. retirement not hard after all, LifeHealthPro (Jan. 13, 2015)
Fixing U.S. retirement not hard after all, San Diego Source (AP) (Jan. 13, 2015)
New Brunswick Earns ‘A-’, Benefits and Pensions Monitor (Jan. 13, 2015)
Experts Found the U.S. Retirement Fix. In Canada., Bloomberg View (Jan. 13, 2015)
Government of New Brunswick shared risk pension plan model given highest marks by the American Academy of Actuaries, Money News (Jan. 13, 2015)
Morneau Shepell : Government of New Brunswick shared risk pension plan model given highest marks by the American Academy of Actuaries, 4-Traders (Jan. 13, 2015)
Actuaries give SDRS a B+, Rapid City (S.D.) Journal (Jan. 9, 2015)
South Dakota's State Retirement System Earns B+, Northern Plains News (Jan. 9, 2015)
Actuaries give SDRS a 'B+', Pure Pierre (S.D.) Politics blog (Jan. 9, 2015)
Shared-risk model receives top marks, Benefits Canada (Jan. 9, 2015)
A new way to grade retirement systems, BenefitsPro (Jan. 8, 2015)
Actuaries Grade Retirement Systems and Reform Proposals, Plan Adviser (Jan. 8, 2015)
Actuaries Grade Retirement Systems and Reform Proposals, PlanSponsor.com (Jan. 8, 2015)
American Academy of Actuaries gives shared-risk model top retirement system grade, Pensions & Investments (Jan. 8, 2015)
Shift Retirement Plans Away from Employers, Over 65 blog (March 31, 2014)
Bells & Whistles, Plansponsor.com (March 24, 2014)
Shift retirement plans away from employers, Market Watch (Jan. 29, 2014)
Actuaries offer some sober retirement principles, Dallas Morning News, (Jan. 21, 2014)
The case for pooling savings, Bankrate.com Retirement Blog, (Jan. 21, 2014)
In the US, actuaries study pension sustainability, Alliance for Retirement Income Adequacy, (Jan. 21, 2014)
Actuaries Examine Retirement, Benefits and Pensions Monitor, (Jan. 20, 2014)
U.S. Actuaries Launch Retirement-Income Initiative, Individual.com, (COMTEX) (Jan. 21, 2014)
Actuaries call for improved U.S. retirement system, Benefits Canada, (Jan. 17, 2014)
Academy Offers Framework for Evaluating Retirement Plans, PlanSponsor.com, (Jan. 17, 2014)
Framework for Evaluating Plans, Proposals, PlanAdviser.com, (Jan. 17, 2014)
Building Enduring Retirement-Income Systems, 401khelpcenter, (Jan. 17, 2014)