Description: Panel presents various types of valuation methods used in pension valuation and issues that should be considered in the choice of a method. From the Record of the Society of Actuaries, Vol. 23, No. 1.

Description: This paper gives a mathematical proof of the frequently expressed concept that under the entry age normal method of valuing a retirement plan, the salary scale applies retroactively. That is, it demonstrates that the valuation of a plan assumes that all past contributions to the plan were based on salaries which, when projected by the salary scale, reproduce the present level of income. The concept of retroactivity is also applied to a situation where there is a constant offset such as the social security benefit. In addition, the paper discusses the effect on this liability resulting from an increase in salary in excess of the increase provided by the salary scale and the effect on the liability of certain types of salary-scale changes. From Transactions of Society of Actuaries 1973, Vol. 25, Pt. 1, No. 72AB.

Description: This abstract describes a paper that presents an actuarial model which determines benefits to be paid in phased retirement and in full retirement. From Actuarial Research Clearing House, 2011.

Description: This article discusses the cost of vesting under TEFRA's accelerated benefit accrual and vesting rules for top-heavy plans.

Description: The abstract for a paper that describes the history of traditional topics like actuarial cost methods and assumptions, the history of past inquiries into the dynamic and stochastic nature of pension costs, and the perceptions and concerns of pension actuaries of the past. Presented at The Future of Pension Plan Funding and Disclosure symposium held July 14-15, 2005 in Washington, DC.

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: This 1978 session focused on valuation techniques for pension plans. Topics covered: 1. Asset Valuation Methods 2. Use of projections and forecasts 3. Has application of forecasts allowed the actuary to determine short range best estimate of future costs different from traditional methods? 4. Treatment of salary scales, turnover assumptions, retirement decrements

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: This session discussion is about application of actuarial analysis and models to evaluate investment features. From Record of the Society of Actuaries Vol. 15, No. 1.

Description: This discussion provides an overview of the SOA research process, reviews the new turnover tables and efforts to model probable outcomes of proposed legislation on the U.S. economy. From Record of Society of Actuaries, Vol. 22, No. 3.