Description: This article is a summary of the roundtable discussion with a group of panelists on how to appropriately measure public pension plan liabilities. The crux of the debate is whether public pension plans should disclose a market value of liability - MVL - or whether current disclosures are adequate.

Description: Discussion of competing theories for valuing public pension liabilities. Emphasis on revised Actuarial Standards of Practice that focus on the purpose of the measurement.

Description: Article Book Review by Ray in The Actuary, January 1979, Volume 13, Number 1

Description: Social security systems around the world have suffered from inadequate funding, leading to current or potential deficits and ultimate insolvency. This article discusses that this problem is a direct actuarial consequence of the inadequate funding that created the problem in the first place. It is simply an open group valuation problem.