Description: Discussant comments by Ryan Labs Asset Management on paper “Actuarial Methods and Public Pension Funding Objective: An Empirical Examination,” by Norman L. Jones and Brian B. Murphy and Paul Zorn

Description: Excel spreadsheet illustrating a specific proposal outlined in the paper, with detailed explanations.

Description: Comments from David Wescoe on session 5 of the Public Pension Finance Symposium.

Description: This paper responds to the comments on the Total Career Benchmark Model, consistent with Retirement 20/20 principles, focuses on reconstructing and maintaining a consistent and reasonable sharing of risks and rewards amongst the four stakeholders: Individuals, Society, Employers and the Markets. Modern technology provides the necessary tools. A series of benchmarks are used for tax limits, target pensions, accrual to date etc. The self adjusting, consistent benchmarks under the TCB Model, means that all stakeholders speak the same language. Individuals and Employers can easily compare what they have to what they need – and more importantly can see how to accrue what is needed. An individual’s ability to tax shelter income over a career is not dependent on the design of any employer pension plan. All funds allocated to an individual remain the individual’s and are not used to subsidize another person – except for the inherent risk sharing of an annuity – by hidden transfers of value.

Description: The author assess the financial performance of pension privatization in Europe.

Description: Reflecting Congressional desire for unified reports on all Federal retirement systems, Public Law 95-595, signed by the President in October 1978, requires annual reports from these systems similar to the ERISA reports from private sector plans. The author, as Chief Actuary of the DoD, discusses the first report produced.

Description: The military retirement system is a funded, noncontributory, defined-benefit plan that includes nondisability retired pay, disability retired pay, and survivor annuity programs. This article discusses the additional benefits created by the Military Retirement Reform Act of 1986.

Description: This article presents the background around the Post Retirement Needs and Risk call for essays focused on: (1) defined contribution plan risk management strategies; (2) decumulation strategies for retirement and (3) long-term care financing. The important essays from that exercise are presented in this Pension Section News publication along with interviews of the winning authors.

Description: Presented at Living to 100 symposium, January 2002. This paper presents data on the mortality, and mortality improvement trends, for retired U.S. Civil Service employees and their survivors, and analyzes the relationship to such factors as: Indexed final salary, Amount of indexed annuity, Total service at retirement, Duration on the Annuity Rolls, Retiree vs. beneficiary, Disability vs. non-disability.

Description: Introduction to the paper that documents the flaws of the current financial model.