Description: This presentation was made at the 1975 Spring Cincinnati Joint Meeting of the Conference of Actuaries in Public Practice and Society of Actuaries. It addresses the following issues: Participation requirements, minimum vesting standards, joint and survivor annuity benefits, maximum limitations, special problems under offset plans, & impact on defined benefit vs. defined contribution plans. 1975 Record, Vol.1, No.3

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.

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 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 article outlines the pros and cons of providing lump sums in defined benefit plans both for the participant and the employer. Retirement assets need to be used effectively and actuaries can make a difference assisting employers, the public and policymakers to focus more on post employment risks.

Description: The authors present the myriad of issues affecting an individuals retirement decision and highlight studies from Mercer and AARP. They find that Americans are increasingly creating their own personalized phased retirement programs in this evolving area of human resources management.

Description: This article notes that actuaries can play a crucial role in assisting the couple, the attorney's and the human resources professional in alleviating headaches spawned by QDROs and provides simple steps to follow to minimize complexity, thereby saving legal and consulting fees for the divorcing couple and easing their stress.

Description: The International Section Council in conjunction with the Actuaries without Borders section of the IAA and the Azerbaijan Actuarial Association recently sponsored a three-day seminar focused on retirement benefits in Baku, Azerbaijan.

Description: The standard for measuring retirement income adequacy has been the final earnings replacement rate (usually targeted at 70%). But - does it work?