Description: Part 5 addresses various purposes for measuring a public sector pension liability and which measures have the most practical usefulness.

Description: Paper presents two alternative practices that could promote fuller recognition of a plan’s investment risks and that take into account the long-term nature of the benefit promises of maturing retirement systems.

Description: Part 4 presents an alternate approach to obtaining the fair value of the public sector employer’s pension benefit liability.

Description: The current financial model put forth as the market value of public sector pension benefit liabilities is simply the expected cash flows of the accumulated benefit obligation, as defined for current private sector financial reporting, discounted using a risk-free yield curve. This model is in serious need of an overhaul. This monograph addresses this issue.

Description: This paper presents a methodology that represents the common ground between the major camps in the debate over the defined benefits DB system.

Description: Paper discusses transition considerations if bond-based discount rates are used for funding public pension plans.

Description: Part 1 proposes solutions to the first of three flaws of the current financial model to obtaining the fair value of the public sector employer’s pension benefit liability.

Description: This paper examines how income sources change when married women in Britain, the U.S., and Germany are widowed, and it draws inferences about the income consequences of specific retirement and survivorship provisions. .

Description: Excel spreadsheet illustrating a specific proposal outlined in the paper, with detailed explanations.

Description: Part 2 proposes solutions to the second of three flaws of the current financial model to obtaining the fair value of the public sector employer’s pension benefit liability.