Description: These notes are a follow-up to the paper 'Introduction to the Dynamics of Pension Funding' by the same authors and published in Transactions of Society of Actuaries 1976, Vol. 28. The purpose of that paper was to provide an introduction to mathematical principles applicable to pension funding under dynamic conditions of population growth, inflation, and automatic adjustment of benefits. The first note discusses a general contribution formula and a number of special cases and modifications. The second note concerns aggregate cost funding when the actuary uses assumptions about cost factors which differ consistently from cost experience. The final note concerns the variation of the annuity unit under a variable annuity program patterned after the plan employed by the College Retirement Equities Fund [CREF]. From Actuarial Research Clearing House 1981, Vol. 1.

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

Description: This session from the 1976 Winter SOA Meeting is a teaching session about the gain and loss analysis in pension actuarial and its essential part of the pension valuation process.

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: 1974 SOA Meetings, Dallas and Montreal. This paper is the digest of discussions held at concurrent sessions of the referenced meeting. Topics covered: 1. CORPORATE FINANCIAL MANAGEMENT OF STOCK LIFE INSURANCE COMPANIES. 2. PENSION FUNDING ASSUMPTIONS. 3. DIRECTIONS AND GOALS OF ACTUARIAL RESEARCH. 4. VARIABLE LIFE DEVELOPMENTS. 5. LIFE INSURANCE AND CONSUMERISM. From Transactions of the Society of Actuaries 1974, Vol. 26, Pt.2D, No. 75 AB.

Description: This is the abstract for a paper that seeks to construct a new system for pension funding that balances the needs of all the pension stakeholders. The paper presents a system that supports plan sponsors’ needs for predictable and relatively smooth contribution streams with the needs of the PBGC, pensioners, and taxpayers for a well-funded system. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: This study examines reductions in retirement benefits from the decline in defined benefit plans and increases in defined contribution plans during the past 20 years and what effect this has on workforce management. In particular how this change is affecting older workers’ decisions to retire and what effect this could have on companies. An underlying assumption implicit in evaluating the benefit of retirement of older workers is that productivity declines in old age while pay does not, leading to a pay productivity gap that could have an adverse effect on the employer from delayed retirement. The validity of this assumption was also examined.

Description: Article discusses proposal in Congress to extend the time for companies to fully fund their pension plans.