Description: This paper considers a defined contribution DC plan, a cash balance plan, and traditional defined benefit DB plan with equal expected value at the assumed retirement age. Using utility as a measure of risk and participant preferences, the designs are particularly well suited to minimize participant risk, particularly while employees are accumulating retirement assets. From Cash Balance Symposium Monograph, M-RS02-3.

Description: This paper explores the advantages and disadvantages of a defined benefit plan option for phased retirees.

Description: Glossary. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.

Description: Acknowledgments. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.

Description: Chapter 2 compares regular, back, and self-directed DROPs, and examines the features of each. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.

Description: Appendix A presents, in table form, basic DROP design features in 24 different public-sector locations. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.

Description: Chapter 5 raises a number of tax issues that require legal advice, while recognizing that not all experts will agree on the correct tax treatment. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.

Description: Chapter 7 raises a number of employer issues related to DROPs including: cost neutrality, estimating non-pension cost/savings, cost uncertainty, tax treatment uncertainty, the bargaining process, promotional opportunities, phase-in of coverage, human resources issues, appeal of DROPs to trustees, and mandatory retirement. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.

Description: Chapter 6 raises employee issues, including why there is any cost associated with DROP, the factors which influence an individual's selection, and how the lump sum money is used. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.

Description: Appendix B presents several life samples comparing the benefits and funding before versus after the addition of the DROP feature. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.