Description: This is a discussion of the paper, Measure of Actuarial Soundness in a Pension Plan of the Railroad Retirement Type by Abraham M. Niessen. From Transactions of Society of Actuaries 1954, Vol. 6, No. 16.

Description: The methods of pension funding are generally understood, but references in the actuarial literature are rather sparse. This paper attempt, in some measure, to get at least the fundamentals of pension funding into the actuarial literature. From Society of Actuaries 50th Anniversary Monograph, M-AV99-1.

Description: This paper explores the range of contribution policies allowable under various sets of rules, and then proposes that plan sponsors be allowed to contribute the normal cost as a deductible contribution each year. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: The purpose of this paper is to explore a methodology for choosing among techniques for managing contribution volatility in defined- benefit pension plans. A frequently used – and as often criticized – method for managing contribution volatility is to base actuarial cost on smoothed assets. Our goal in this paper is to develop a methodology for measuring and evaluating the quantitative impact of competing asset smoothing policies. We proceed by investigating a series of basic pension metrics, evaluating the characteristics of each using a simulated pension plan. We then use normalized and weighted combinations of these metrics to determine an optimal smoothing policy.

Description: Table constructed from lifetime long-term care cost studies conducted by P.J. Eric Stallard, ASA, FCA, MAAA, Center for Demographic Studies, Duke University.

Description: This study explores whether public pension plans have contributed enough to reduce unfunded liabilities, absent other influences such as investment returns.

Description: In this paper the author shows that the aggregate claims distribution of a portfolio modeled by a mix of the individual and collective models can be obtained with a single recursion under some conditions. He discusses why the collective model is not necessarily an approximation of the individual model in the context of pension funds, for example. An application to a Swiss pension fund is presented. From Actuarial Research Clearing House 2003, Vol. 1.

Description: The purpose of this paper is to outline some of the points to be considered in arriving at a method of making cost estimates and funding calculations and their practical application.

Description: In this article, the author talks about the pension environment and pension plans in Germany.

Description: This paper recommends four criteria for measuring the adequacy of proposed funding policies.