Description: In defined-benefit plans, a portability problem arises, especially in an inflationary economy. Final salary plans were designed to cope with inflation. However, transfer of employment during a career can result in long service at a prior employer with outdated final compensation and short service at a current employer with appropriate final compensation. Thus the problem. This presentation discusses possible solutions. From the Record of the Society of Actuaries Vol. 17, No. 3A.

Description: This panel discussion is from the 1991 Meeting of the Society of Actuaries, held June 3-5 in Colorado Springs. The panelists discuss the future, if any, of defined-benefit pension plans, and whether they have been “legislated” out of existence, in particular the role of the Internal Revenue Service as the primary regulator of pension plans. From the Record of Society of Actuaries Vol. 17, No. 3B.

Description: Presenters examine the difficulty in determining, under current regulations, the maximum benefits payable from defined-benefit pension plans. From the Record of the Society of Actuaries, Vol. 25, No. 2.

Description: At this presentation, the Executive Director of the Pension Benefit Guaranty Corporation talks about some recent pension plan terminations what can be done to protect pensions without upsetting the delicate balance of some companies with underfunded pension plans. The answer is not to allow the underfunding to go unchecked. Nor is the answer to let the PBGC absorb all the losses. From the Record of the Society of Actuaries Vol. 18, No. 2.

Description: This 1978 session focused on valuation techniques for pension plans. Topics covered: 1. Asset Valuation Methods 2. Use of projections and forecasts 3. Has application of forecasts allowed the actuary to determine short range best estimate of future costs different from traditional methods? 4. Treatment of salary scales, turnover assumptions, retirement decrements

Description: 1994 SOA Meeting, San Antonio. This session covered the SEC letter on FAS 87, discount rates analyzing the current yield curve, matching bond portfolios to benefit payments, selection of salary scale, selection of return on assets, update on ASB proposed standards, and the relationship, if any, of funding assumptions to accounting assumptions.

Description: 1993 SOA Spring Meeting, San Diego. This session discussed cash-balance pension plans, design variations, rate of interest credit, IRC section 417e problems, and transition from traditional defined-benefit plans.

Description: This teaching session focuses on the IRS and PBGC requirements for terminating a defined benefit plan, both with and without sufficient plan assets. It also looks at alternatives to plan termination, such as plan freeze and plan merger. From the Record of the Society of Actuaries Vol. 5, No. 4.

Description: This session discussion was a primer on hybird pension plans, in particular cash balance plans and age weighted profit sharing plans. Included nondiscrimination issues, IRS issues and communication about the plans to participants.

Description: This session from the 2003 SOA Spring Meeting discusses the PBGC's current financial status and its outlook for the future. Issues discussed include shutdown benefits, 4010 filings, floor-offset plans and PBGC variable premiums that have been impacted by current economic conditions. From the Record of the Society of Actuaries, Volume 29, No. 2, Session 34pd.