Description: This panel discussion session focuses on economic assumptions for pension plans including investment return salary scale the spread between investment return and salary scale and the effects of inflation and the economy on other assumptions. From Record of Society of Actuaries 1981, Vol. 7, No. 1.

Description: This report is a summary of a panel discussion which occurred at the 1980 SOA Spring Meeting in Minneapolis. The panel discussed economic assumptions for pension plans. From Record of Society of Actuaries, Vol. 6, No. 2.

Description: Discusses insurance company considerations and approaches when dealing with the complexities of deferred lives within pension plans.

Description: Discussion of competing theories for valuing public pension liabilities. Emphasis on revised Actuarial Standards of Practice that focus on the purpose of the measurement.

Description: The projection methods used by the Social Security Administration's Office of the Chief Actuary are important. The resulting projections are cited regularly by policy-makers, academics and others interested in the long-term financial solvency of the OASDI system. However, a complete description of this projection methodology that is vital for serious policy discussions is not available to the general public. This summary was constructed in connection with the Social Security Advisory Board's 1999 Technical Panel on Methods and Assumptions. A goal of the Methods and Modeling working group of the Technical Panel was to 'work to ensure that the projection methods used by the Office of the Chief Actuary become more public.' From Actuarial Research Clearing House 2000, Vol. 1.

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

Description: In this paper, a general model for a pension plan involving growth with respect to the population, salaries, and retirement benefits is used to study contribution patterns that may arise under different actuarial cost methods. Detailed results are presented for the case where the growth of population and the growth of salaries are described by exponential functions. Economic implications are presented and discussed. From Transactions of Society of Actuaries 1979, Vol. 31.

Description: A critique of the SOA's co-sponsoring of the Manhart Brief which addressed sex discrimination in pension rates. The critique argues that the brief fails to satisfy standards of academic rigor reflected in other SOA publications.

Description: These notes are a follow-up to the paper 'Introduction to the Dynamics of Pension Funding' by the same authors and published in Transactions of Society of Actuaries 1976, Vol. 28. The purpose of that paper was to provide an introduction to mathematical principles applicable to pension funding under dynamic conditions of population growth, inflation, and automatic adjustment of benefits. The first note discusses a general contribution formula and a number of special cases and modifications. The second note concerns aggregate cost funding when the actuary uses assumptions about cost factors which differ consistently from cost experience. The final note concerns the variation of the annuity unit under a variable annuity program patterned after the plan employed by the College Retirement Equities Fund [CREF]. From Actuarial Research Clearing House 1981, Vol. 1.

Description: Abstract: A common approach to estimating the total amount of savings required to fund retirement is to first apply a generic “replacement rate” to pre-retirement income, such as 80%, to get the desired retirement income need. That need is then assumed to increase annually at the rate of inflation for the duration of retirement, which is generally assumed to be some fixed period, such as 30 years. Using government data along with a fairly simple market and mortality model, we explore these assumptions to more accurately estimate the true cost of retirement.