Description: The purpose of this article is to demonstrate that the virtues of “marked-to-market” pension accounting are greatly exaggerated for both public and private pension plans. It is demonstrated that the “marked-to-market” paradigm, as applied to pensions, is based on a questionable economic foundation and may produce plenty of “misinformation” of its own. From the Pension Section News, September 2008, Issue No. 68.

Description: The article and guidebook of the same name use a stochastic simulation model to examine potential impacts of public pension plan risk-sharing policies on government employers and plan members. Policies examined include simple policies such as COLAs and employee contributions that are contingent upon investment returns or funded ratios, and more-complex policies similar to those used in the Wisconsin Retirement System.

Description: Comments from Eric Friedman on “The Debate over Applying FE Principles to the Funding on Public Pension Plans: A Transition Proposal and Other Ideas,” by Thomas Lowman

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

Description: An analysis of the revamped state sponsored retirement income pension gives insight into design and funding elements that might figure in reforming social security in the United States.

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

Description: Update to the SOA's longitudinal analysis of contributions among state-based and large-city pension plans in the U.S.

Description: Author response to Eric Friedman’s comments on ‘The Case for Stochastic Present Values,” by Dimitry Mindlin

Description: Eric Friedman’s comments on ‘The Case for Stochastic Present Values,” by Dimitry Mindlin