Description: The Pension Section is pleased to make available the results of a two-part research effort exploring embedded options in pension plans. The Part I report includes a catalogue of embedded options in pension plans and the results of a related survey of pension practitioners. In the Part II report, the authors value three embedded guarantees in cash balance plans using option pricing fair valuation principles.

Description: This session discussion is about pension plan design. How are pension actuaries modifying plans to conform to TRA 86 and OBRA 87? What is the impact of the new integration regulations? What is the current status of cash balance plans? Are defined benefit plan dead? From Record of the Society of Actuaries Vol. 15, No. 3B.