Description: Sound and Workable Pension Actuarial, Accounting, and Funding Approaches for those Interested in the Health of Public and Private DB Plans – Discussant Comments

Description: Summary of the annual cost-of-living adjustment and changes in other wage-indexed programs parameters for Social Security in 2024.

Description: Brief description of articles contained in the newsletter.

Description: A discussion of a the Colombian Army Forces pension plan model.

Description: Personal highlights of a pension actuary's 10 years with the U.S. Social Security Administration and Senate staff, applying his experience and skills to emerging issues. He recommended that the Thrift Savings Plan for federal employees use index funds for common stocks, giving employees an attractive way to invest while keeping politics out of stock selection.

Description: This article, another in the popular series devoted to tax basics, provides an overview of how the Employee Retirement Income Security Act of 1974 (ERISA), the law governing employment-based retirement and health plans, impacts the use of annuities in pension and 401(k) plans. The article explains which types of plans are subject to ERISA, and which are not; why the concept of "plan assets" is critical; what duties an insurance company or distributor might take on when an annuity is placed with a retirement plan; and finally what disclosures may be required. The article also includes a brief introduction to terminal funding annuities. This article is intended for those with no prior experience in ERISA. Because the vast majority of retirement assets are saved originally in employment based plans like pension and 401(k) plans, understanding the basics of ERISA is important for anyone who will have a career in annuities and life insurance.

Description: Responding to Sandy Mackenzie's "Report", these comments primarily suggest additional disclosures for assessing public pension plan financial heath.

Description: This paper discusses 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: This article announces a new research project, co-sponsored by a number of actuarial organizations, to evaluate macrodemographic and microsimulation models that could be used to analyze retirement and other public policy proposals.

Description: This is a review of the book, 'Retirement Systems for Public Employees' by Thomas P. Bleakney, F.S.A. This book assumes considerable importance in the literature dealing with Pension subjects because it speaks authoritatively about a major segment of the Pension field concerning which very little has been written. In summary, the book consistently takes a calm, dispassionate, academic view of this category of pension plans that exist in a pragmatic, political, and sometimes volatile environment. Considering the expected readership, the author does a particularly fine job of discussing the actuarial aspects and the investment aspects.