Description: Panelists discuss the need for pension fund managers to continually reexamine their allocation of funds across broad asset classes, and determine the most prudent mix of investments. From the Record of the Society of Actuaries, Vol. 24, No. 2.

Description: 2015 accomplishments of the Investment Section of the Society of Actuaries.

Description: This paper establishes a framework to analyze the volatility of corporate profits as a result of variability in accounting for pension plans. It models a Canadian corporation that maintains a defined-benefit pension plan and that has adequate cash flow to fully fund the pension plan, should it wish. Volatility of corporate profits is important because many senior executives have some component of their compensation directly related to corporate profitability and consequently do not want any surprises with respect to actual profits compared to expected profits. The volatility management techniques considered are investment policies for the pension plan, funding the pension plan, and an alternative plan design. The analysis is timely since changes are proposed to the accounting standards to eliminate most smoothing techniques. The results suggest that, depending on the investment environment, reduced volatility may be accompanied by by enhanced return, which is a result that few would expect.

Description: This session discussion is about the existing practices, what input is used, how are assumptions selected, what time horizons are used, and how are asset and liability projections merged. From Record of the Society of Actuaries Vol. 12, No. 1.

Description: Risks inherent in employee choices of distribution options in terminating plans - A Canadian perspective.

Description: Pension Forecasts, Part One: Some Questions by Lawrence N. Bader from Risks and Rewards Newsletter, February 2001, Issue No. 36.

Description: Resource for Pension Section members

Description: This 1981 discussion session is about defined benefit plan pension investments. Specifically it covers: 1. Dedicated portfolios, 2. Investment policy for defined benefit plans, 3. Real estate investments, 4. Immunization, and 5. Foreign investments.

Description: This presentation discusses techniques and considerations in beginning an investment strategy to develop a cash flow pattern appropriate for the liabilities being funded. The role of the actuary, the liabilities to be addressed, suitable investments, dedication vs annuities, techniques for asset selection, and the valuation of assets and liabilities are covered. From Record of the Society of Actuaries Vol. 10, No. 3.

Description: This session explores the potential cash-flow and financial accounting implications of the equity market decline. The discussion focuses on ways to present these results to clients and asset/liability matching techniques that can be used to dampen the significance of this change. From the Record of the Society of Actuaries, Volume 28, No. 2, Session 61pd.