We provide a framework in which we link the valuation and asset allocation policies of defined benefits plans with the lifetime marginal productivity schedule of the worker and the pension plan formula. In turn, we examine the retirement policies that are implied by the primitives of the model and the value of pension obligations. Our model provides an explicit valuation formula for a stylized ...

0

We address the problem of a private pension plan sponsor who has to decide the best pension funds that should be offered to the pension plan members. Starting from the analysis of the population of the plan in order to identify a set of representative subscribers, we focus on an individual optimal portfolio allocation in a pension perspective. Then, the optimal allocation for each representativ...

In previous work we have investigated a framework for distributed temporal plan repair. Using temporal constraints for activities to be executed, we developed a distributed algorithm capable of dealing with temporal changes (disruptions) in these constraints to perform fast plan repair. This framework, however, did not include resource management issues. In this paper, first of all, we extend o...