Description: In this paper, the long-term funding consequences of negotiated improvements in pension plans are examined. Particular emphasis is placed on the effects on both contribution rates and the overall funding position of the plan of such things as benefit increases to retirees, reductions in the average retirement age, economic events that affect the size of the active work force, and the interplay between the increases in pay and benefit rates and the other valuation assumptions. A simulation model is used to uncover the influence of each variable. From Transactions of Society of Actuaries 1981, Vol. 33.

Description: This paper surveys the actuarial techniques connected with salary scale mathematics for the valuation of defined benefit pension plans. Followed by several discussion papers submitted