Description: Excel spreadsheet illustrating a specific proposal outlined in the paper, with detailed explanations.

Description: The purpose of this paper is to describe an actuarially acceptable and mathematically definitive method for allocating gains by source. Followed by a discussion paper submitted

Description: Defined benefit DB pension plans continue to dominate the retirement landscape for the roughly 20 million state and local government workers in the United States. In most state and local plans, pension benefits are protected by constitutional, statutory, or common law guarantees. In many cases, these guarantees make the benefit promises to participants virtually free of risk. Finance theory is unambiguous that the discount rate used to value future pension obligations should reflect the riskiness of the liabilities.

Description: Panelists develop a framework for analyzing the diverse family of deferred recognition methods for assets under a pension plan. Using this framework, attendees learn how to assess the reasonableness of a method from both a client and a regulatory perspective – that qualify under IR Code Section 412[c][2][A] – including a case study of the evolution of smoothing methods used by a particular group of plan sponsors. From the 2002 Record of Society of Actuaries, Volume 28, No. 2. Session 76PD of the San Francisco Spring Meeting.

Description: This paper addresses how to explain yearly fluctuations and computed pension cost in terms of deviations of actual from expected experience. It presents a method for deriving gain-an-loss analysis formulas directly from the valuation formulas and shows that the analysis is implicitly defined by the valuation formulas, rather than something which can be considered apart from them. This method can be used to attack both individual and aggregate cost methods and the development of exact analysis formulas provides not only the basis for computation but also valuable insight into the mechanisms by which cost methods adjust computed costs to reflect actual experience.

Description: This research study presents the results of termination rates which do not match the pattern of the T tables in use since first produced in the 1950. Documentation of the data included in the study and the supporting observations are set forth in this paper. From the Pension Forum, August 1992.

Description: Part 4 presents an alternate approach to obtaining the fair value of the public sector employer’s pension benefit liability.

Description: This article analyzes and confirms the circumstances where a change in the mortality assumption does and does not have a significant impact on pension valuations.

Description: Paper that discusses a new funding method that would make the recommended contribution for funding purposes for public DB plans subject to an overriding minimum contribution OMC calculation.

Description: This paper presents a methodology that represents the common ground between the major camps in the debate over the defined benefits DB system.