Annuity Values in Defined Contribution Retirement Systems: The Case of Singapore and Australia

In this paper we derive and compare the value of life annuity products in an international context. Our specific goal is to assess the money’s worth and adverse selection impact of annuities in two countries – Singapore and Australia – that have mandatory DC-type retirement plans. This similarity in plan type is offset by differences in the two countries’ national retirement policies. Our comparison therefore exploits the natural experiment in annuity pricing and purchase behaviour under alternative retirement regimes. The results show that after controlling on administrative loadings, there appear to be important differences in measured adverse selection across countries. Specifically, selection appears to be far stronger in the presence of a generous public benefit scheme that provides a first line of defence against the risk of old-age poverty

Annuity Values in Defined Contribution Retirement Systems: The Case of Singapore and Australia

In this paper we derive and compare the value of life annuity products in an international context. Our specific goal is to assess the money's worth and adverse selection impact of annuities in two countries Singapore and Australia that have mandatory DC-type retirement plans. This similarity in plan type is offset by differences in the two countries' national retirement policies. Our comparison therefore exploits the natural experiment in annuity pricing and purchase behaviour under alternative retirement regimes. The results show that after controlling on administrative loadings, there appear to be important differences in measured adverse selection across countries. Specifically, selection appears to be far stronger in the presence of a generous public benefit scheme that provides a first line of defence against the risk of old-age poverty.

The meaning of evidence and nonmaleficence: cases from nursing

In our increasingly diverse environment, nurses are obligated to question the meaning of “evidence” when history has shown that our emphasis on the empirical and quantitative data has shaped our biases against knowledge unknown to us. This bias has limited our ability to provide patient or person-centered care, and can be harmful to patients. Nurses are encouraged to reflect on what evidence means in their practice, and to make sure harm is not caused to patients by dismissing evidence yet unknown to us or accepting “truths” not fully understood by us. The authors use composite case studies to share experiences from their clinical practice on how “evidence,” or lack of, can challenge our obligation to “do no harm.” Curiosity and skepticism should guide nursing practice, and every nurse should strive to contribute to questioning accepted practice and finding answers to the unknown to meet the needs of our diverse patients

A comment on test validation: The importance of the clinical perspective

© 2019 American Speech-Language-Hearing Association. Purpose: The misuse of standardized assessments has been a long-standing concern in speech-language pathology and traditionally viewed as an issue of clinician competency and training. The purpose of this article is to consider the contribution of communication breakdowns between test developers and the end users to this issue. Method: We considered the misuse of standardized assessments through the lens of the 2-communities theory, in which standardized tests are viewed as a product developed in 1 community (researchers/test developers) to be used by another community (frontline clinicians). Under this view, optimal test development involves a conversation to which both parties bring unique expertise and perspectives. Results: Consideration of the interpretations that standardized tests are typically validated to support revealed a mismatch between these and the interpretations and decisions that speech-language pathologists typically need to make. Test development using classical test theory, which underpins many of the tests in our field, contributes to this mismatch. Application of item response theory could better equip clinicians with the psychometric evidence to support the interpretations they desire but is not commonly found in the standardized tests used by speech-language pathologists. Conclusions: Advocacy and insistence on the consideration of clinical perspectives and decision making in the test validation process is a necessary part of our role. In improving the nature of the statistical evidence reported in standardized assessments, we can ensure these tools are appropriate to fulfill our professional obligations in a clinically feasible way

Biomechanical assessment predicts aneurysm-related events in patients with abdominal aortic aneurysm

Objective To test whether aneurysm biomechanical ratio (ABR; a dimensionless ratio of wall stress and wall strength) can predict aneurysm related events. Methods In a prospective multicentre clinical study of 295 patients with an abdominal aortic aneurysm (AAA; diameter ≥ 40 mm), three dimensional reconstruction and computational biomechanical analyses were used to compute ABR at baseline. Participants were followed for at least two years and the primary end point was the composite of aneurysm rupture or repair. Results The majority were male (87%), current or former smokers (86%), most (72%) had hypertension (mean ± standard deviation [SD] systolic blood pressure 140 ± 22 mmHg), and mean ± SD baseline diameter was 49.0 ± 6.9 mm. Mean ± SD ABR was 0.49 ± 0.27. Participants were followed up for a mean ± SD of 848 ± 379 days and rupture (n = 13) or repair (n = 102) occurred in 115 (39%) cases. The number of repairs increased across tertiles of ABR: low (n = 24), medium (n = 34), and high ABR (n = 44) (p = .010). Rupture or repair occurred more frequently in those with higher ABR (log rank p = .009) and ABR was independently predictive of this outcome after adjusting for diameter and other clinical risk factors, including sex and smoking (hazard ratio 1.41; 95% confidence interval 1.09–1.83 [p = .010]). Conclusion It has been shown that biomechanical ABR is a strong independent predictor of AAA rupture or repair in a model incorporating known risk factors, including diameter. Determining ABR at baseline could help guide the management of patients with AAA

SoTL Lab: Undergraduate student-faculty collaborative research in teaching and learning in CSD

The University of Wisconsin-Eau Claire Communication Sciences and Disorders SoTL Lab was designed to provide hands-on research experiences to undergraduate students on a large scale. Student reflections on experiences within the SoTL Lab identify the value of collaboration, development of confidence, and exposure to the entire research process as key outcomes. These experiences foster development of research skills and may lead students to consider academic careers