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: A review of the Australian retirement incomes system and an assessment of necessary changes to improve its effectiveness.

Description: This article discusses Dan M. McGill's presentation on the subject of a guaranty fund for private pensions, given to the Senior Branch of the Actuaries Club of New York on March 26, 1968. Dr. McGill offered his thoughts on the technical characteristics of such a fund.

Description: An article summarizing the testimony of Ron Gebhardtsbauer of the American Academy of Actuaries to the Department of Labor regarding disclosure rules to employees for pension plan changes. From Pension Section News, June 1999, Issue No. 40.

Description: This articles lists the 2003 updated annual amounts for federal agencies and programs that affect pension programs.

Description: A new mortality valuation standard, the 1994 Group Annuity Reserve Table, is being proposed for new group pension business. This article discusses the industry concerns with the change from a static table to a generational table based upon mortality improvement factors.

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: The U.S. Internal Revenue Code prohibits qualified pension and profit sharing plans from discriminating in favor of highly compensated employees. It states that a plan is not discriminatory merely because contributions or benefits are a uniform percentage of pay. In addition, the code allows some disparity between highly compensated employees and other employees with respect to their contributions or benefits as a percentage of pay.

Description: A discussion of regulatory considerations for pension plans considering the use of longevity risk hedging contracts in Canada.

Description: This paper responds to the comments on 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.