Description: The purpose of this paper is to provide an introduction to mathematical principles applicable to pension funding under dynamic conditions of population growth, inflation, and automatic adjustment of benefits. From Transactions of Society of Actuaries 1976, Vol. 28.

Description: The general theme of discussion was pension plan funding and cost. The specific topics discussed included: impact of ERISA on corporate funding strategies, ethical considerations involved in deciding how to address inflation in pension plan costs, actuarial cash flow projections, actuarial role in evaluating alternative investment strategies, effect of ERISA's imposed Funding Standard Account, and discussion of the paper titled Introduction to Dynamics of Pension Funding. From the Record of the Society of Actuaries, 1976 Vol.2 No. 1

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: In this paper, a general model for a pension plan involving growth with respect to the population, salaries, and retirement benefits is used to study contribution patterns that may arise under different actuarial cost methods. Detailed results are presented for the case where the growth of population and the growth of salaries are described by exponential functions. Economic implications are presented and discussed. From Transactions of Society of Actuaries 1979, Vol. 31.