Description: This study examines reductions in retirement benefits from the decline in defined benefit plans and increases in defined contribution plans during the past 20 years and what effect this has on workforce management. In particular how this change is affecting older workers’ decisions to retire and what effect this could have on companies. An underlying assumption implicit in evaluating the benefit of retirement of older workers is that productivity declines in old age while pay does not, leading to a pay productivity gap that could have an adverse effect on the employer from delayed retirement. The validity of this assumption was also examined.

Description: Highlights of recent media contributions by actuaries.

Description: In March this year a charter for the new corporation, the College Retirement Equities Fund, was granted by the State of New York and it is expected that within a few months the Fund will begin operations as a supplement to TIAA annuities. The purpose of this paper is to describe this rather novel type of corporation, which presents some unusual and interesting actuarial problems. Comparisons of the performance of fixed annuities vs. variable annuities are provided.

Description: Book review of Steve Vernon’s Money for Life, Turn your IRA and 401(k) into a Lifetime Retirement Paycheck

Description: Recently, we have seen renewed interest in the international (or “offshore”) pension plan. An international plan typically provides benefits for internationally mobile workers of a multinational employer, but can also be used for certain other workers. The plan is usually located in a respected international finance centre.

Description: This is a summary of the employer costs for pension plans published by the U.S. Department of Labor’s Bureau of Labor Statistics (BLS) as of December 2013.