Description: Part 4 presents an alternate approach to obtaining the fair value of the public sector employer’s pension benefit liability.

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

Description: Part 2 proposes solutions to the second of three flaws of the current financial model to obtaining the fair value of the public sector employer’s pension benefit liability.

Description: Part 3 proposes solutions to the third of three flaws of the current financial model to obtaining the fair value of the public sector employer’s pension benefit liability.

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

Description: Paper examines some of the underlying issues associated with public pension plan benefits and financing. It reviews concerns related to intergenerational equity and problems in maintaining the funded status of public DB retirement plans.

Description: The purpose of this paper is to explore a methodology for choosing among techniques for managing contribution volatility in defined- benefit pension plans. A frequently used – and as often criticized – method for managing contribution volatility is to base actuarial cost on smoothed assets. Our goal in this paper is to develop a methodology for measuring and evaluating the quantitative impact of competing asset smoothing policies. We proceed by investigating a series of basic pension metrics, evaluating the characteristics of each using a simulated pension plan. We then use normalized and weighted combinations of these metrics to determine an optimal smoothing policy.

Description: The purpose of this paper is to explore pension plan metrics— – measuring the behavior of a defined- benefit pension plan in an uncertain environment. Our goal is to measure and evaluate the quantitative impact of competing policy choices. We proceed by investigating some basic pension metrics, evaluating the characteristics of each using a simulated pension plan. We find that some typical metrics— – such as the mean and standard deviation— – are useful only in certain circumstances and that other less traditional measurements are sometimes better suited to evaluating policy choices.

Description: Paper that discusses a new funding method that would make the recommended contribution for funding purposes for public DB plans subject to an overriding minimum contribution OMC calculation.

Description: This is the panel transcript for the 2017 LT100 Symposium Session 2C: Impact of Aging: What Can Individuals and the Private Sector Do to Address Challenges?