Description: This article explores how differing sets of seemingly reasonable assumptions can provide materially different results in a pension valuation.

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.

Description: Discusses two different issues of current concern in the UK: Transfer Values and Personal Pensions.

Description: This article is about the value of fringe benefits, specicifically of pension benefits earned while married in the event of divorce or marital dissolution. It centers around the assumptions which should be used to determine the present values and shows applicable equations to be used.

Description: Book review of The Fundamentals of Pension Mathematics by Barnet E. Barin. Mr. Griffin supports the text as a valuable contribution in particular his analysis of gains/losses by source during the transition to utilizing computers for pension valuation.

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

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: The author of this article notes that “valuing pension or long-term disability plans with Social Security offsets generally requires some assumptions about the future course of the wage base and benefit formula,” and “the usual approach is to select annual percentage increases for these two variables which relate reasonably and well to the valuation salary scale, and then to project Social Security on that basis.” The author goes on to discuss how the actuary and plan sponsor can be comfortable with a particular choice of parameters, given that “costs can be very sensitive to the Social Security projection and recent history offers little guidance.”

Description: Presents concerns regarding assumptions for inflation.

Description: A summary of the October 31 meeting of the Board of Governors, where topics included education and examination requirements, SOA organization, pension terminology, publications, didivend philosophy, subcommittee operations, financial statement certifications, the Executive Director position, and consolidation of North American actuarial organizations.