Description: This Excel workbook contains the complete set of tables developed from the Society of Actuaries 2003 Pension Plan Termination and Retirement Study. Separate tabs are included for the Basic Age Table, Basic Service Table, Select & Ultimate Table, Small Plan Age Table, and Small Plan Service Table.

Description: This presentation discusses current trends in pension demographics, focusing on mortality and turnover rates. From the Record of the Society of Actuaries Vol. 18, No. 4A.

Description: This Excel workbook contains the complete set of tables developed from the Society of Actuaries 2003 Pension Plan Termination and Retirement Study. Separate tabs are included for the Basic Age Table, Basic Service Table, Select & Ultimate Table, Small Plan Age Table, and Small Plan Service Table.

Description: Traditional pension cost methods are based on the actuarial present value of future benefits [which is a mean value]. As a consequence, these cost methods are deficient because they cannot provide plan sponsors with certain valuable information such as the probability that the accumulation of a particular sequence of contributions will ultimately provide sufficient funds to pay benefits, or the size of fund needed to ensure that retirees' lifetime benefits are paid with a specified probability. In response to these deficiencies, a new family of cost methods, called a-percentile cost methods, is developed. These cost methods are based on the probability of adequately covering all participants' benefits. Expressions for the normal cost, the accrued liability and the gain are provided. From Transactions of Society of Actuaries 1993, Vol. 45.

Description: The primary purpose of this paper is to set forth one method of evaluating vested pension costs and to suggest a simple way for the actuary to make provision in his pension cost calculations for specific vesting schedules. From Transactions of Society of Actuaries 1966, Vol. 18, Pt. 1, No. 52.

Description: A review of the actuarial aspects of Cash Balance Retirement Plans and original actuarial research regarding the design and valuation of such plans.

Description: Among many purposes, this paper will outline the theory of gain and loss analysis for pension fund valuations, indicate practical problems met in applying the theory to two model plans and show the Fackler accumulation formulas. From Transactions of Society of Actuaries 1959, Vol. 11, No. 31.

Description: This article analyzes and confirms the circumstances where a change in the mortality assumption does and does not have a significant impact on pension valuations.

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: An increasingly popular tool in estate planning is the Joint Life policy payable upon the second death. The design and pricing of this policy is influenced significantly by cash value and reserve requirements. This article discusses two methods for calculating these values.