Description: This is a letter to the readers of the newsletter describing the content of the publication.

Description: Frequently risk is portrayed as something to be avoided, especially in public retirement plans. This paper argues taking risk is likely the prudent choice.

Description: This article is about a colloquium held in Edinburgh, Scotland from Sept. 25–27, 2011, by the Pension Benefits and Social Security Section of the International Actuarial Association [IAA]. The theme of the meeting was international challenges in providing a safe and sustainable retirement.

Description: Recent studies have suggested that teachers would be better off with DC or Cash Balance plans than with DB. Detailed data from CalSTRS support the opposite.

Description: The article and guidebook of the same name use a stochastic simulation model to examine potential impacts of public pension plan risk-sharing policies on government employers and plan members. Policies examined include simple policies such as COLAs and employee contributions that are contingent upon investment returns or funded ratios, and more-complex policies similar to those used in the Wisconsin Retirement System.

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: Drivers for mortality are apparently linked to socio-economic differentials within different societal groups. Actuaries are not the only profession interested in unravelling the mystery of why different groups within society experience such different mortality rates. The author gives examples from occupational pension plans in Canada, the UK and Germany.

Description: Summary of the annual cost-of-living adjustment and changes in other wage-indexed programs parameters for Social Security in 2024.

Description: Personal highlights of a pension actuary's 10 years with the U.S. Social Security Administration and Senate staff, applying his experience and skills to emerging issues. He recommended that the Thrift Savings Plan for federal employees use index funds for common stocks, giving employees an attractive way to invest while keeping politics out of stock selection.

Description: Brief description of articles contained in the newsletter.