Description: This presentation was made at the 1975 Spring Cincinnati Joint Meeting of the Conference of Actuaries in Public Practice and Society of Actuaries. It addresses the following issues: Participation requirements, minimum vesting standards, joint and survivor annuity benefits, maximum limitations, special problems under offset plans, & impact on defined benefit vs. defined contribution plans. 1975 Record, Vol.1, No.3

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

Description: First demonstrates that the choice of mortality basis in the pre-retirement period is immaterial for a defined benefit plan, valued on the Aggregate method, with a pre-retirement death benefit equal to the present value of the accrued pension. Second, presents comparisons of contribution costs for Aggregate vs. Unit Credit funding methods.

Description: The standard for measuring retirement income adequacy has been the final earnings replacement rate (usually targeted at 70%). But - does it work?

Description: The purpose of this paper is to study mortality-based securities, such as mortality bonds and swaps, and to price the proposed mortality securities. The focus is on individual annuity data, although some of the modeling techniques could be applied to other lines of annuity or life insurance.

Description: An extension of a paper published in the 1952 Transactions by the same author, describing and classifying various funding methods for defined benefit pension plans. Followed by discussion papers submitted by several authors.

Description: The purpose of this study is to provide the actuarial profession with a review of the actuarial aspects of cash balance retirement plans and original actuarial research regarding the design and valuation of such plans. This report discusses cash balance plan features and methods to measure the associated risks.

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: Overview of a recently published paper that explains how credibility theory can be applied to develop mortality assumptions for defined benefit plans.

Description: View the complete issue for the August 2014 Reinsurance News newsletter.