Description: This presentation made at the SOA 1975 New York meeting highlights the passage of ERISA and points up the desirability of formulating principles and practices for pension plan construction and valuation. A committee of the American Academy of Actuaries is in the process of developing principles and practices.

Description: This 1978 discussion session focuses on pension plans with 10 to 50 lives. It covers the funding vehicles, insurance contracts, and the actuarial and administrative services applicable to such plans.

Description: This paper discusses 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 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: Concomitant with the industrial revolution, the function of providing old age income shifted from families and local institutions to government social security and private pension plans. The history of this change in the U.K. and U.S. is reviewed. A simple mathematical model provides insights into the role played by three rates [the rate of increase of the working population, the time preference rate, and the rate of real wage growth] in determining optimum funding policy. From Actuarial Research Clearing House 1994, Vol. 2.

Description: The tables were developed from data collected for 2010–2014. The central year of the data is 2012, hence the name. These tables are intended to be adjusted with a mortality improvement scale. The Pri-2012 Mortality Tables update the RP-2006 Mortality Tables , which were developed from data collected for years 2004–2008.

Description: The decline of importance of private defined benefit plans in relation to defined contribution plans in the United States is a major issue of interest to pension actuaries. This decline is undeniable, and has been attributed to numerous factors: costs of government regulation, societal and cultural changes, changed attitudes of employers, and employees' lack of understanding of defined benefit plans. It has also caused some to proclaim the end of a private defined benefit plan. This work analyzes possible macroeconomic factors contributing to the crisis of defined benefit plans, and proposes an alternative hypothesis for the cause of the crisis: the decline of relative attractiveness of defined benefit plans in relation to defined contribution plans due to the shift in the way relative returns to macroeconomic factors of production, i.e., capital and labor, are allocated in the national economy. Possibilities of improvement of the position of defined benefit plans are also discussed. From Actuarial Research Clearing House 1998 Vol. 2.

Description: This 1978 session looked at the intersection of social and private insurance including: 1. Social insurance involvement in casualty and property coverages 2. Impact of social insurance and individual disability insurance 3. Social insurance impact on private retirement plans in the United States 4. Social insurance impact on private retirement plans and on individual insurance plans in Canada

Description: This 1978 discussion session focuses on pension plans with 10 to 50 lives. It covers the funding vehicles, insurance contracts, and the actuarial and administrative services applicable to such plans.

Description: This paper analyzes the terminations of private sector pension plans registered in Ontario, Canada from 1988 through 1993. The purpose of the study is to quantify the prevalence of plan terminations, investigate the causes, and identify the impact on plan participants. From Transactions of Society of Actuaries 1995-96 Reports.