Financial Science Trends and Perspectives: A Review Article

March 2021 | Financial Engineering, Financial Innovation, Retirement Planning | Article
Robert C. Merton's contributions are current. Regarding the design of retirement plans, in a framework of pension deficient systems, the investigations of Merton (1969) and (1971) on optimal consumption and portfolio rules during and after working life acquire contemporary validity. Likewise, Bodie and Merton (2002) propose the use of derivative products, at the international level, to diversify the risks of pension systems just at the moment when these systems of many underdeveloped and industrialized economies are on the verge of collapse; knowing that several of these systems only provide a meager proportion of the salary. Finally, Merton's theory of rational option pricing is retaken to create synthetic oil pipelines and power plants through the use of contingent claims. This paper aims to review the trends and perspectives in financial science and mathematical finance, within the framework of the pioneering contributions of Robert Cox Merton, highlighting priority areas that offer opportunities for research with social and global impacts.

Commentary: 5 ways to make the SECURE Act meet participants’ needs

August 21 2020 | Life-Cycle Savings/Investment, Retirement Planning |
In late 2019, Congress passed the Setting Every Community Up for Retirement Enhancement Act. Section 203 of the SECURE Act introduces lifetime income disclosures, and on Aug. 18, the Department of Labor's Employee Benefits Security Administration announced an interim final rule for compliance with this provision of the SECURE Act...

3 policy proposals to bolster the post-lockdown economy

June 3 2020 | Retirement Planning | Presentations
MIT Sloan economists say the government’s efforts during COVID-19 are a good start but not enough to restart the economy. Here are their recommended next steps.

Turning Savings into Security

Summer 2019 | Retirement Planning, SeLFIES | Article
By David E. Morse for the Benefits Law Journal. For additional information on SeLFIES, please see:

On the Creation of “Retirement Bonds”

April 7 2018 | Retirement Planning | Article
Editorial published in Le Monde. Three professors of finance, Lionel Martellini, Robert C. Merton and Arun S. Muralidhar, suggest issuing bonds with maturities and durations that would match the retirement age and life expectancy at retirement.