Description: This paper discusses whether the use of relatively risk-free discount rates are appropriate under assumptions of substantial continuation of plan design and greatly increasing per capita payments, when the plan sponsor can dramatically change future cash flows. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.

Description: Discussion of the merits of solvency versus going concern funding targets for pension plans, and the connection with different risk-sharing deals.

Description: This article gives insight into the economic atmosphere in the Netherlands after the financial collapse in the United States.

Description: This article provides key insights and data samples about various approaches to pension investing. Article from Risk and Rewards, August 2006, Issue No. 48.

Description: The paper attempts to identify defined benefit plan design principles that provide valuable employee benefits at reasonable costs. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: Author response to Eric Friedman’s comments on ‘The Case for Stochastic Present Values,” by Dimitry Mindlin

Description: This paper examines the discrepancy that seems to exist between classical financial theory and the widely adopted portfolio selection theory, and proposes that the roles of agents and the interests of corporate insiders need also to be considered. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.

Description: This paper takes the position that it is possible to compute annual pension costs without computing liabilities first, or at all, even implicitly. Moreover, such an approach can be shown to have powerful advantages in stochastic financial environments. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.

Description: This paper attempts a model for a mix of DB and DC retirement plans that meets the dual objectives of predictability of employer cash contributions, and sufficient employee retirement benefit. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.

Description: This paper assesses the extent to which equity investors were fooled by pension accounting. Simulations show that a failure to differentiate between core and pension earnings induces large valuation errors for many firms, although this pension effect did not materially contribute to aggregate overvaluation before 2000. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.