Description: This session from the 1984 SOA Salt Lake City Meeting discusses how investment policies and strategies for pension funds are often developed independently of liability considerations. This session looks at the probable mismatch of asset and liability cash flows, the extent of problem, the actuarial concern with certification of assets and structuring the fund to recognize the relationship between assets and liabilities.

Description: The SOA is pleased to make available a report updating the 2012 risk assessment performed by Porteous et al. The report also provided an economic capital analysis for a stylized US plan with the same member profile and the USS provisions modified to reflect a typical US DB plan.

Description: This paper advocates asset/liability management for pension plans. It identifies the economic factors that influence the economic value of liabilities and discusses the typical asset portfolio that results.

Description: From the 41st ARC: a presentation focusing on risk management of a pension plan whose benefit is the greater of a defined benefit DB and a defined contribution DC plan. Hedging strategies are derived and illustrated, recognizing that the DB guarantee is like an option.