Description: Paper examining the degree to which certain actuarial methods satisfy public pension plan funding objectives.

Description: This paper surveys the actuarial techniques connected with salary scale mathematics for the valuation of defined benefit pension plans. Followed by several discussion papers submitted

Description: On October 16, 1974, the Congress overrode the Presidential veto of H.R. 15301 The Railroad Retirement Act of 1974, a bill to restructure the railroad retirement system which was based on proposals made jointly by railroad management and labor. H.R. 15301 now P.L. 93-445 embodies some far reaching changes which are mainly directed toward relieving the difficult financial situation of the railroad retirement system.

Description: Abstract of the paper which explores some characteristics of pension plans that affect the type and amount of investment risk a government-sponsored pension plan can afford.

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

Description: The International Section Council in conjunction with the Actuaries without Borders section of the IAA and the Azerbaijan Actuarial Association recently sponsored a three-day seminar focused on retirement benefits in Baku, Azerbaijan.

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

Description: This paper responds to the comments on the Total Career Benchmark Model, consistent with Retirement 20/20 principles, focuses on reconstructing and maintaining a consistent and reasonable sharing of risks and rewards amongst the four stakeholders: Individuals, Society, Employers and the Markets. Modern technology provides the necessary tools. A series of benchmarks are used for tax limits, target pensions, accrual to date etc. The self adjusting, consistent benchmarks under the TCB Model, means that all stakeholders speak the same language. Individuals and Employers can easily compare what they have to what they need – and more importantly can see how to accrue what is needed. An individual’s ability to tax shelter income over a career is not dependent on the design of any employer pension plan. All funds allocated to an individual remain the individual’s and are not used to subsidize another person – except for the inherent risk sharing of an annuity – by hidden transfers of value.

Description: Abstract of paper that discusses a new funding method that would make the recommended contribution for funding purposes for public DB plans subject to an overriding minimum contribution OMC calculation.

Description: Comments from David Wescoe on session 5 of the Public Pension Finance Symposium.