Description: This paper examines some of the effects of mortality improvements on traditional defined benefit plans. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: This paper explores the advantages and disadvantages of a defined benefit plan option for phased retirees.

Description: The purpose of this paper is to study mortality-based securities, such as mortality bonds and swaps, and to price the proposed mortality securities. The focus is on individual annuity data, although some of the modeling techniques could be applied to other lines of annuity or life insurance.

Description: This paper considers a defined contribution DC plan, a cash balance plan, and traditional defined benefit DB plan with equal expected value at the assumed retirement age. Using utility as a measure of risk and participant preferences, the designs are particularly well suited to minimize participant risk, particularly while employees are accumulating retirement assets. From Cash Balance Symposium Monograph, M-RS02-3.

Description: Chapter 7 raises a number of employer issues related to DROPs including: cost neutrality, estimating non-pension cost/savings, cost uncertainty, tax treatment uncertainty, the bargaining process, promotional opportunities, phase-in of coverage, human resources issues, appeal of DROPs to trustees, and mandatory retirement. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.

Description: Chapter 3 examines some of the early DROP plans, and their subsequent experience. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.

Description: Chapter 4 discusses a range of actuarial issues associated with DROPs. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.

Description: Glossary. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.

Description: Chapter 5 raises a number of tax issues that require legal advice, while recognizing that not all experts will agree on the correct tax treatment. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.

Description: Chapter 6 raises employee issues, including why there is any cost associated with DROP, the factors which influence an individual's selection, and how the lump sum money is used. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.