Description: This paper presents an analysis indicating that an asset level of 50 to 105 percent of annual OASDI expenditures generally would be sufficient to cover the effects of adverse economic conditions for about 5 to 10 years. A discussion of this paper is included.

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: In this paper, a general model for a pension plan involving growth with respect to the population, salaries, and retirement benefits is used to study contribution patterns that may arise under different actuarial cost methods. Detailed results are presented for the case where the growth of population and the growth of salaries are described by exponential functions. Economic implications are presented and discussed. From Transactions of Society of Actuaries 1979, Vol. 31.

Description: This is a discussion of the title paper by Raymond F. Houseman, which provides some practical aspects of various funding methods. The paper is critiqued, and some alternative methods are discussed.

Description: The purpose of this paper is to outline some of the points to be considered in arriving at a method of making cost estimates and funding calculations and their practical application.

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 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 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: 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 basic goal of this paper is to develop a generalized statement of aggregate actuarial cost methods and relate to it certain ideas developed by Trowbridge, Nesbitt, and others. A secondary goal is to describe practical methods which bear the same relationship to unit credit funding that the 'usual' forms of frozen initial liability and aggregate bear to entry age normal funding. From Transactions of Society of Actuaries 1967, Vol. 19, Pt. 1, No. 53 AB.