Description: This paper explores practical methods to hedge the fair value of pension scheme liabilities against changes in market conditions. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.

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

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 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 is an Excel workbook containing links to papers, articles and newsletters which are useful to the study of the principles of finance and their application to pension plans. Topics include accounting, assumptions/methods, actuarial standards, behavioral economics, design, financial economics, full funding, immunization, investments, minimum funding, market value, pension finance, PBGC, risk, and traditional defined benefit view. For each document listed in the workbook, its abstract or a short synopsis is also included to help the user choose appropriate readings.

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.