Description: A book review. This book provides an analysis of what is meant by adequate retirement income through an examination of the social security systems of four countries Sweden, Germany, Belgium and Canada to a program of reform for the United States pension system.

Description: This presentation was made at the 1975 Spring Cincinnati Joint Meeting of the Conference of Actuaries in Public Practice and Society of Actuaries. It addresses the following issues: Participation requirements, minimum vesting standards, joint and survivor annuity benefits, maximum limitations, special problems under offset plans, & impact on defined benefit vs. defined contribution plans. 1975 Record, Vol.1, No.3

Description: Book review of The Fundamentals of Pension Mathematics by Barnet E. Barin. Mr. Griffin supports the text as a valuable contribution in particular his analysis of gains/losses by source during the transition to utilizing computers for pension valuation.

Description: The author delves into other important parts that should be in the scope of model validation besides the code.

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

Description: A listing of all the limitations in effect for 2002.

Description: Discussion of competing theories for valuing public pension liabilities. Emphasis on revised Actuarial Standards of Practice that focus on the purpose of the measurement.

Description: The motivation for various asset valuation methods and their properties are briefly described. Some smoothed value or market-related methods based on arithmetic averaging and exponential smoothing are considered and their effect on funding is discussed. Suggestions for further research are also made.

Description: 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: The author presents the perspective that employers use of PBGC guarantees may cost taxpayers in the long run and suggests that Congress should address this issue.