Description: The purpose of this paper is to provide an introduction to mathematical principles applicable to pension funding under dynamic conditions of population growth, inflation, and automatic adjustment of benefits. From Transactions of Society of Actuaries 1976, Vol. 28.

Description: This paper investigates a fundamental approach to the development of the expected cost of vesting in pension plans. From Transactions of Society of Actuaries 1972, Vol. 24, Pt. 1, No. 70.

Description: This discussion at a 1967 Regional Meeting is about methods of allocating investment income using the investment year method, the treatment of unrealized capital gains, considerations in choosing interest assumptions, and challenges presented when comparing investment yields among companies.

Description: These discussions at the 1967 New York and New Orleans Regional Meetings are about considerations in choosing interest assumptions and challenges presented when comparing investment yields among companies.

Description: This general session discussion looks at: A. Methods available to decide the percentage of the premium that should be used for life insurance, weekly indemnity benefits, hospitalization and surgical benefits. B. Formulas devised for computing contingency reserves for possible losses on mortgage loans and real estate. C. Extent to which companies are using participating forms for the following coverages: 1. Annuities in the benefit stages and/or supplementary contracts involving life contingencies after expiry of the term certain period 2. Family income and other decreasing term rider benefits 3. Extended term insurance D. Methods developed for pricing annuities and settlement options derived from an annuity table without provision for mortality improvement

Description: The following topics were discussed at concurrent sessions: 1. Personal Security in the 1970's- United States and Canada, 2. Adjusted earnings for life companies, 3. Pension funding, 4. What about these younger actuaries?, 5. Sources of statistical information for actuaries, 6. Variable life insurance, 7. Models and decision techniques, and 8. Role of the actuary in expense control. From Transactions of Society of Actuaries 1970, Vol 22, Pt. 2, No. 63.

Description: This paper examines the valuation of assets and poses the following questions: A. What bases, other than cost or market, are in use for valuing pension trust assets and acceptable under the Internal Revenue Code and Rulings? and B. How can a retirement plan having assets valued on a book or cost basis utilize existing unrealized appreciation for purposes of improving benefits or reducing current funding costs without changing to a market value basis? From Transactions of Society of Actuaries 1961, Vol. 13, Pt. 2.

Description: This paper attempts to reduce several variables to their bare minimum and to investigate how the cost of vesting depends upon those few that remain. From Transactions of Society of Actuaries 1972, Vol. 24, Pt. 1, No. 70.

Description: This paper gives a mathematical proof of the frequently expressed concept that under the entry age normal method of valuing a retirement plan, the salary scale applies retroactively. That is, it demonstrates that the valuation of a plan assumes that all past contributions to the plan were based on salaries which, when projected by the salary scale, reproduce the present level of income. The concept of retroactivity is also applied to a situation where there is a constant offset such as the social security benefit. In addition, the paper discusses the effect on this liability resulting from an increase in salary in excess of the increase provided by the salary scale and the effect on the liability of certain types of salary-scale changes. From Transactions of Society of Actuaries 1973, Vol. 25, Pt. 1, No. 72AB.

Description: This discussion on pension and retirement plans looks at assumptions made concerning investment yield rates, mortality, rates of disablement and disabled life mortality. Additional discussion focusing on looking at a trend away from individual policy pension plans toward Group Annuities. From Transactions of Society of Actuaries 1961, Vol. 13, Pt. 2.