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Welcome to the 2017 AFS Annual Meeing, being held this year, in conjunction with FPA in Nashville!
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Sunday, October 1 • 3:30pm - 4:20pm
F1a Income Portfolios and Liability-Driven Investing [CFP Defined Contribution Plans]

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In this paper, we provide insight to the creation of appropriate asset allocations for individual investors seeking to fund retirement. We pay specific attention to the soft nature of the retirement liability since a retiree has flexibility over the timing and amount of withdrawals and/or payment of expenses, which is different from the liability of a defined-benefit pension plan which is a legal (i.e., hard) liability. We provide thoughts on how to model the systematic characteristics of this soft liability and demonstrate how portfolios constructed using a liability-relative optimization approach differ significantly from those based on asset-only optimization techniques.

Author(s): David Blanchett, Ph.D.

Sunday October 1, 2017 3:30pm - 4:20pm
Mockingbird 1

Attendees (4)