Description: This is the fourth paper on n-year roll forward reserve financing of public benefit systems, especially Old-Age, Survivors and disability Insurance OASDI, prepared by University of Michigan faculty and students. As the papers have developed, some ideas have been simplified, while others have become more complex. It is concluded that the theoretical model requires further attention. This research can be extended to expand our knowledge of OASDI financing and the applicability of n-year roll forward reserve financing.

Description: These are the abstract, outline, graphs and tables of the paper “Conclusions from Michigan Studies of Social Security Financing”. By such studies we mean the papers prepared during the past five years by actuarial students and Cecil Nesbitt, and which have appeared in ARCH. The paper is in three parts: A lengthy Abstract, followed by 17 pages of text, graphs, tables and references. The third part is a 10 page Appendix which gives the proofs of text statements.

Description: These notes are a follow-up to the paper 'Introduction to the Dynamics of Pension Funding' by the same authors and published in Transactions of Society of Actuaries 1976, Vol. 28. The purpose of that paper was to provide an introduction to mathematical principles applicable to pension funding under dynamic conditions of population growth, inflation, and automatic adjustment of benefits. The first note discusses a general contribution formula and a number of special cases and modifications. The second note concerns aggregate cost funding when the actuary uses assumptions about cost factors which differ consistently from cost experience. The final note concerns the variation of the annuity unit under a variable annuity program patterned after the plan employed by the College Retirement Equities Fund [CREF]. From Actuarial Research Clearing House 1981, Vol. 1.

Description: This paper is a report on research for undergraduate experience grants held for 8 weeks under the direction of Cecil Nesbitt. The topic of the research was Social Security Financing and Related Matters. From Actuarial Research Clearing House 1993, VOL. 1.

Description: The Actuarial Education and Research Fund AERF is a not for profit corporation organized under the applicable law of the State of Illinois in 1976. This paper focuses on the maturing of AERF as well as its creation and implementation by the Society of Actuaries Committee on Professional Development.

Description: The paper is an individual risk theoretical examination of annuities for the aged. Through retirement systems, social security and insurance plans, annuities for the aged are a very significant matter and are worthy of inquiry. From the Actuarial Research Clearing House 1992 Vol. 2.

Description: This dissertation is about methods for assessing mortality risk in regard to insurance and annuity transactions. Although the basic methods and formulas are general, most of the applications made here deal with life annuity transactions, with particular emphasis on pension situations.

Description: This paper explores and develops some initial ideas of roll-forward reserve funding of Social Security. It reports on the work of actuarial students and teachers for an 8-week study period coordinated with the National Science Foundation program of Research Experience for Undergraduate grants. From Actuarial Research Clearing House 1994, VOL. 1.

Description: This paper develops the theory for an exactly vested defined benefit model plan and is contrasted with the theory for a pure pension plan. From Actuarial Research Clearing House, 1978 , Volume 2.

Description: Research on the elementary models of the reserve fund for the old-age, survivors and disability insurance OASDI in the United States. From the Actuarial Research Clearing House 1991, Vol.1.