Description: Since the Internal Revenue Service updated its rules for integration of qualified pension plans [Revenue Ruling 71-446] nearly ten years ago, major changes have taken place in the structure of Social Security benefits. The lack of a consensus as to what constitutes a good set of rules for integration is a reflection of the many existing social and political viewpoints on this subject. This paper proposes a single theoretical basis for the integration of qualified pension benefits with Social Security retirement benefits and examines the implications of that proposal. From Transactions of Society of Actuaries 1982, Vol. 34.

Description: This paper analyzes the design and funding of privately sponsored retirement programs in an inflationary environment. From Transactions of Society of Actuaries 1982, Vol. 34.

Description: This 1982 discussion session is about concepts discussed in Jeff Furnish's paper, 'Pension Plans in an Inflationary Environment'. The author wants to consider these concepts as they relate to the practical aspects of pension consulting. First and foremost, the financial uncertainties of doing business increase. A second problem created by inflation is the uncertainty injected into the benefits ultimately delivered by a retirement program. A third problem concerns the stability of the funding structure.