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Pension Finance Resources
Financial economics is influencing the way financial professionals
view shareholder risk, including the risk from pension plans. Actuaries and others
have been examining what place financial economics might have in the pension
actuarial paradigm. The Task Force on Financial Economics and the Actuarial Model
has compiled the following resources as an informational tool only, to aid actuaries
in learning more about the issues. The opinions expressed or referenced here are
not necessarily those of the SOA or its officers, directors or representatives.
(Note: Where available an online link to the resource is
provided; in some cases, we are only able to provide the reference information)
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Pension Actuary's Guide to Financial Economics
The American Academy of Actuaries and the Society of Actuaries are pleased to announce the Pension Actuary’s Guide to Financial Economics. Published in November 2006, this guide gives the practicing actuary everything you need to know to understand what’s driving many changes today in the accounting, funding, and investing of pension plans, plus gets you prepared for those conversations with the savvy CFO. Printed copies of the guide are also available; anyone wishing to purchase a copy can do so by clicking here.
Joint Academy/Society of Actuaries Pension Finance Task Force Library
This link opens a Web page indexing over 100 articles useful for studying the principles of finance and their
application to pension plans. Contrary opinions such as from the behavioral finance school and those who do not
accept volatility as the definition of risk, are also represented.
The  Pension Finance Knowledge Sharing Index
is a Microsoft Excel file containing detailed information about articles which are useful to the study of the principles of finance
and their application to pension plans. This information may be downloaded, searched and sorted. Original abstracts of the readings are included.
When an abstract was unavailable, one was created from the opening paragraphs of the article or document.
Pension Arbitrage Example Worksheet
This spreadsheet will perform examples of the tax arbitrage in Section 4 of the Pension Actuary's Guide to Financial Economics and should only be used in conjunction with the guide.
Key Points
Changes Needed to Actuarial Practice
Further Research
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