Description: The current financial model put forth as the market value of public sector pension benefit liabilities is simply the expected cash flows of the accumulated benefit obligation, as defined for current private sector financial reporting, discounted using a risk-free yield curve. This model is in serious need of an overhaul. This monograph addresses this issue.

Description: Responding to Sandy Mackenzie's "Report", these comments primarily suggest additional disclosures for assessing public pension plan financial health.

Description: Summarizes and explains the COLA and wage-indexed changes in Social Security program parameters announced by the Social Security Administration on October 13, 2022.

Description: This article provides a summary of the Actuarial Standards Board work and hearing evaluating whether a new ASOP is needed for public sector pension plans.

Description: Review of 2018 changes to retirement-related actuarial standards of practice in the US and Canada.

Description: The Actuary Vol. 22, No. 1. This article discusses the impact of a change in procedure in the financing of the US Military Retirement System. The change requires amortizing the past service liability. The impact will depend upon whether the amortization is achieved by increasing current taxes and decreasing the current deficit, or by merely increasing the national debt and leaving the current deficit unchanged. The author asserts that the new financing method will not weaken the financial condition of the military retirement system, and that it has the potential to strengthen its financial condition if the funding of the past service liability is handled appropriately.

Description: In recent months, many significant developments in Canada have affected employee benefits, particularly pensions. Other Canadian issues discussed in this article are unemployment insurance and taxation of pensions.

Description: This panel discussion from the 1977 Record of the SOA Vol.3 No. 4 examines current issues in public employees pension plans including investments, ERISA compliance, cost methods, actuarial audits, and plan design issues.

Description: This panel discussion focuses on the funding of public employee retirement plans.

Description: This article discusses the U.S. military retirement system, an unfunded non-contributory defined-benefit plan, and the legislative proposal that would convert the system to an entry-age-normal funding method.