Description: This paper is a follow-up to the papers in the January and April 2005 editions of the Pension Forum, which focused on the interest assumptions to be used in pension funding. This paper focuses on the other assumptions used to calculate pension liabilities—mortality, early retirement and expense. From Pension Section News, April 2006, No. 61.

Description: The article is a summary of Society of Actuaries report entitled “Annuity Market Pricing Approaches” sponsored by the Retirement Section Research Committee. The report examines the Canadian Institute of Actuaries (CIA) methodology of developing solvency valuation assumptions, compares it to methods used in the U.S., and considers if it could be used in other markets, such as U.S. group annuities or individual annuities

Description: This is a summary of a new research paper entitled: “Determining Discount Rates Required to Fund Defined Benefit Plans” by John Turner and three other economists, which describes a new way to look at pension funding for ongoing plans that is a variant of using expected returns (currently used in public plans) that takes into account the risk that contributions will be needed in the future for this year’s benefit accruals.

Description: This paper concludes that there are two index rates that could best replace the 30-year Treasury in the calculation of the Current Liability of a pension plan - either the 30 year swap rate or the benchmark 30-year FNMA bond.

Description: This is a research project on possible replacement indices for the 30 year treasury rates used to value current liability for defined benefit pension plans in the US.

Description: This report compares the CIA pricing method for estimating group annuity closeout pricing to methods used in the US.