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: Study of the impact of IRS proposed mortality tables on private sector pension plan costs, including liabilities, contributions and PBGC premiums.

Description: These notes are a follow-up to the paper 'Introduction to the Dynamics of Pension Funding' by the same authors and published in Transactions of Society of Actuaries 1976, Vol. 28. The purpose of that paper was to provide an introduction to mathematical principles applicable to pension funding under dynamic conditions of population growth, inflation, and automatic adjustment of benefits. The first note discusses a general contribution formula and a number of special cases and modifications. The second note concerns aggregate cost funding when the actuary uses assumptions about cost factors which differ consistently from cost experience. The final note concerns the variation of the annuity unit under a variable annuity program patterned after the plan employed by the College Retirement Equities Fund [CREF]. From Actuarial Research Clearing House 1981, Vol. 1.

Description: The purpose of this report is to describe our modified approach, provide our rationale, and identify as best we can the alternatives put forward by actuaries who do not share our views.

Description: This is a discussion of the paper, The Mathematical Risk of Lump-Sum Death Benefits in a Trusteed Pension Plan by Hilary L. Seal. From Transactions of Society of Actuaries 1953, Vol. 5, No. 13.

Description: The purpose of this note is to investigate whether, for a given level annual contribution rate, the introduction of a lump-sum benefit in lieu of a part of the pension otherwise payable, can result in a reduction of the mathematical risk due to chance deviations from expectation. From Transactions of Society of Actuaries 1953, Vol. 5, No. 12.

Description: This section contains multiple book reviews and notices concerning the actuarial profession. Reviews: 'Medical Risks: Patterns of Mortality and Survival' by Singer and Levinson, 'The Theory and Practice of Pension Funding' by Trowbridge and Farr, 'Two Stochastic Processes' by Beekman, 'Disability Income Insurance - Cost Differentials between Men and Women' by New York Insurance Department, 'Social Security and Private Pension Plans: Competitive or Complementary' by McGill, 'A New Look at Accounting for Pension Costs' by Hall and Landsittel, '1977 Annual Reports of the Board of Trustees of the Federal OASDI Trust Funds...,' 'Investigation of Sickness Statistics - Individual Policies, 1971 and 1973' by the Institute of Actuaries and the Faculty of Actuaries, 'The Graduation of Pensioners and of Annuitants Mortality Experience 1967-70' by the Institute of Actuaries and the Faculty of Actuaries, 'Pensions and Survival - the Coming Crisis of Money and Retirement' by Calvert, 'Group Benefits in a Changing Society' by Spencer, 'Experience of Disabled Work Benefits under OASDI 1965-74' by Bayo and Wilkin. Digests also included.

Description: A supplemental report conducted in 2009 to contrast results of the 2008 study, 'Will Retirement Assets Last a Lifetime'? It discusses retirees confidence in having sufficient assets to fully fund their retirement, their willingness to take risk, efforts to control spending and their use of financial advisers.

Description: This discussion focuses on group retirement plans and takes a look at the possibility of future problems as a result of offering group annuity plans permitting the employer to choose method of funding. The discussion further seeks to discover what considerations are involved in determining minimum size for group annuity contract of the deposit administration type and if insurance company proposals include cost estimates involving labor turnover rates. From Transactions of Society of Actuaries 1951, Vol. 3, No. 5.

Description: Both company and employee objectives with regard to pension plan funding tend to enhance employee security in its broadest sense, and differences are primarily those of emphasis. Company stress is apt to be on flexible pension contributions within the framework of stable long-range costs, while employee stress- when not on increased benefits- is likely to be on the funding of accrued benefits. The purpose of this paper is to examine certain funding guidelines which reflect both viewpoints in a logical and consistent fashion. It is concerned with principles as well as with the broad impact of actuarial assumptions and cost methods but is not concerned with specific application of the latter. From Transactions of Society of Actuaries 1966, Vol. 18, Pt. 1, No. 51.