Description: The article outlines a shareholder value framework for pension risk management and applies this framework to pension funding decisions in light of rising PBGC premiums due to 2013’s BBA legislation. The article finds that the new legislation significantly incentivizes plan sponsors to increase pension funding. Moreover, many tax-paying pension plan sponsors can increase shareholder value by increasing pension plan contributions.

Description: Defined benefit plans have been disappearing from the private sector retirement program landscape. 401k Plans that have taken their place are not designed to provide retiree lifetime income. Individuals seldom work for a single employer and thus have many retirement accounts spread about. This commentary discusses an alternative approach to providing retirement income a voluntary basis in a vehicle that is decoupled from employers.

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.

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: The author notes in this 1981 article that after two years’ work the President’s Commission on Pension Policy has recommended major changes in the U.S. private pension and Social Security systems. These include a highly controversial proposal to require a Minimum Universal Pension System MUPS, and various other less significant changes. The impact on legislation is much in question, given that the President appointing the Commission is now out of office. The article notes further that since the costs and savings of the proposals have not been quantified, actuaries have a chance to step in and render a public service.

Description: The article discusses the Texas Pension Review Board's Guidelines for Actuarial Soundness applicable to Texas state public retirement systems (including the system's amortization period), and how these guidelines are consistent with and complementary to both the current GASB 27 ARC disclosure, and the imminent GASB 67 & 68 disclosures. The GASB requirements will change from a de facto funding standard to strictly disclosure requirements, with a focus on plans whose funding trajectory is the poorest.

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: In this article, the author talks about reforming the Canadian pension system.

Description: Reports the comments of Chris Bone, Chair of the SOA's Retirement Systems Research Committee, on the pension funding changes tucked away in the General Agreement on Tariffs and Trade Congress passed in December.

Description: The panel presents the technical details of calculating the deficit reduction contribution as changed by the Retirement Protection Act RPA of 1994. Additionally addressed is the new solvency maintenance requirement and changes to the full-funding limitation. From the Record of the Society of Actuaries, Vol. 21, No. 3b.