Description: Excel spreadsheet illustrating a specific proposal outlined in the paper, with detailed explanations.

Description: Comments from David Wescoe on session 5 of the Public Pension Finance Symposium.

Description: Introduction to the paper that documents the flaws of the current financial model.

Description: The purpose of this paper is to explore pension plan metrics— – measuring the behavior of a defined- benefit pension plan in an uncertain environment. Our goal is to measure and evaluate the quantitative impact of competing policy choices. We proceed by investigating some basic pension metrics, evaluating the characteristics of each using a simulated pension plan. We find that some typical metrics— – such as the mean and standard deviation— – are useful only in certain circumstances and that other less traditional measurements are sometimes better suited to evaluating policy choices.

Description: Paper examining the degree to which certain actuarial methods satisfy public pension plan funding objectives.

Description: Authors’ response to Ryan Lab Asset Management’s Comments on their paper which examines the degree to which certain actuarial methods satisfy public pension plan funding objectives.

Description: This paper presents a methodology that represents the common ground between the major camps in the debate over the defined benefits DB system.

Description: Chapter 4 discusses a range of actuarial issues associated with DROPs. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.

Description: Paper examines the asset allocation behavior of state and local pension plans.