Description: The Pension Section is pleased to make available Part I of a two-part research paper exploring embedded options in pension plans. Part I includes a catalogue of embedded options in pension plans and the results of a related survey of pension practitioners. The paper was written by PricewaterhouseCoopers LLC.

Description: The speakers will share the international experience in the annuity market, discuss the annuity puzzle and the influencing factors of annuity supply and demand, and express their views on the annuity market trend under the aging and longevity trend of China's population and longevity risk management of annuity products.

Description: This session from the 1984 SOA Toronto Meeting discusses defined benefit issues including flexible funding methods, plan design, ad hoc arrangements and formal funding objectives. From Record of the Society of Actuaries Vol. 10, No. 4A

Description: This article provides a summary of the Pension and Employee Benefit Act of 1967 bill S.1103 introduced by Senator Javits of New York. If enacted, it would have far reaching implications.

Description: Many retirement actuaries have experience developing, implementing, and monitoring Liability Driven Investing (LDI) strategies for plan sponsors. These strategies typically involve modifying a plan’s investment strategy to remove a significant portion of the investment and interest rate risk now or at some point in the future when specific triggers are met. The tactics often involve the use of fixed income assets to cash flow and/or duration match the liabilities. In the spirit of helping actuaries expand their roles in an evolving defined contribution world, this article explores the application of LDI and derisking strategies within defined contribution and individual retirement accounts. The economic theory behind this approach is called the lifecycle hypothesis, or lifecycle finance. The benefits of the lifecycle finance method are that it provides a safe approach to save for retirement and a secure source of floor income during retirement. Similar to pension plans, each individual has his or her own idiosyncratic needs, wants, and risks that should be considered. Actuaries are uniquely situated to help defined contribution plan sponsors, individuals, and even themselves implement the lifecycle finance approach by developing and distributing tools and methods that focus on income (rather than wealth), LDI strategies, and personalization.

Description: This paper explores and develops some initial ideas of roll-forward reserve funding of Social Security. It reports on the work of actuarial students and teachers for an 8-week study period coordinated with the National Science Foundation program of Research Experience for Undergraduate grants. From Actuarial Research Clearing House 1994, VOL. 1.

Description: In this session at the SOA 2003 Washington, DC Spring Meeting, the panelists discuss the value of deferred taxes to the owner of an IRA, 401k or similar product. The time it takes for tax-deferral benefits to overcome typical penalties levied on early distributions is reviewed. They also discuss the effect of tax deferral on the risk profile of investments.

Description: Summary of the annual cost-of-living adjustment and changes in other wage-indexed programs parameters for Social Security in 2024.

Description: As China’s population officially ages, the government has now escalated reform of China's social security system to a national strategic level. The report of the 19th National Congress further mentioned construction of an old-age security system and social environment, painting a bright future for development of the pension industry. At the moment, development of China's pension industry is beginning a new journey. Learn about the current status and future development of pillar 2 pension, which is core to China's pension system; framework and operation management overview of Enterprise Annuity and Occupational Annuity; possible evolution paths in contribution payment methods’ investment operation models, and development of professional pension managers.

Description: This research, based on data from regulatory filings in Ontario, with supplementary information from British Columbia and the United States, examines funding valuation discount rates.