Description: This article summarizes the approach taken by the Canadian Institute of Actuaries to develop mortality tables and mortality improvement scales for use in Canadian pension plans based on Canadian population data. It also summarizes the additional factors pension actuaries have to consider in using the new tables and scales.

Description: The current financial model put forth as the market value of public sector pension benefit liabilities is simply the expected cash flows of the accumulated benefit obligation, as defined for current private sector financial reporting, discounted using a risk-free yield curve. This model is in serious need of an overhaul. This monograph addresses this issue.

Description: Part 1 proposes solutions to the first of three flaws of the current financial model to obtaining the fair value of the public sector employer’s pension benefit liability.

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

Description: This paper presents a methodology that represents the common ground between the major camps in the debate over the defined benefits DB system.

Description: This paper uses a Bayesian approach to persistency to explore retirement cost projection variability. The analysis is divided into two parts. In the first part a subjective population projection model is developed, based on a beta-binomial distribution for the number of participants persisting through a given age. Probability statements regarding such items as the number of participants at a given age and the distribution of retirees are developed. The second part shows how the model might be used to generate confidence intervals for retirement cost projections. Both the single-entry-age case and the multiple-entry-age case are considered. From Transactions of Society of Actuaries 1979, Vol. 31.

Description: Paper discusses transition considerations if bond-based discount rates are used for funding public pension plans.

Description: Comments from Eric Friedman on “The Debate over Applying FE Principles to the Funding on Public Pension Plans: A Transition Proposal and Other Ideas,” by Thomas Lowman

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