Description: This article discusses the cost of vesting under TEFRA's accelerated benefit accrual and vesting rules for top-heavy plans.

Description: The author delves into other important parts that should be in the scope of model validation besides the code.

Description: This article describes behavioral finance and its relevance in identifying analytics and processes suitable for a control environment for the actuarial aspects of an insurance company.

Description: This is a review of the book, 'Guide to the Technical Side,' by Barnet N. Berin. The book was produced for the non-technician in the form of an easy-to-understand review of the technical aspects of pensions. Although this book has relatively little value for someone well-versed in the actuarial mathematics of pensions, Mr. Berin’s book could be useful for the non-pension actuary or the consultant who wants to familiarize himself with this subject. It should certainly prove a helpful volume for administrators of pension plans and for employers.

Description: The Statement of Financial Accounting Standards No. 87. Employers’ Accounting for Pensions, became effective in 1987. This is an accounting/actuarial standard with significant income statement and balance sheet implications. This article discuses the results of a survey of selected affected companies regarding the impact of this standard.

Description: ERISA funding requirements for defined benefit pension plans require an asset valuation method which takes reasonable recognition of fair market value. In this article, the author proposes three asset valuation methods in which market values could be averaged to eliminate the detrimental effects of periodic fluctuations in the bond and stock markets.

Description: Actuaries may soon be required to select assumptions that are individually reasonable when measuring pension obligations. This is the core meaning of a proposed amendment to the Actuarial Standard of Practice #4 in addition to the proposed ASOP on economic assumptions.

Description: Presents concerns regarding assumptions for inflation.

Description: This article discusses the need for a sophisticated modeling system capable of analyzing the impact of the variables present in pension plan projections and providing management with information which it may act upon.

Description: Article provides an excellent summary of the importance of mathematics, computer models for determining the future for human-based financial security models, and the importance of recognizing how human behavior effects the financial security program.