Description: Introduction and overview. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: The purpose of this paper is to explore pension plan dynamics— – the behavior of a defined- benefit pension plan over time in an uncertain environment. We proceed by simulating the behavior of a model plan in a stochastically varying economic environment. While both the model and its environment are simplified, the model displays interesting behavior suggesting policy considerations that should be included in the design and funding of these plans.

Description: Expert discussion of several symposium papers. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS-05-1.

Description: This paper proposes principles to serve as the basis for revising the pension funding rules established in 1974, and also suggests a set of revised rules. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.

Description: Paper examines some of the current difficulties faced by defined benefit plans, and poses some solutions. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: This paper explores the range of contribution policies allowable under various sets of rules, and then proposes that plan sponsors be allowed to contribute the normal cost as a deductible contribution each year. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: This paper, in light of inadequate and misdirected ERISA reforms, offers a new direction in defined benefit plan regulation in the area of plan termination insurance, minimum and maximum finding rules, and plan design restrictions. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: This paper analyzes the likely increase in volatility for a representative plan and then considers the implications of adopting a hedged portfolio as a means of reducing the increased volatility. It then analyzes the effects of adopting a stochastic funding method which represents a simple extension of traditional expected value funding methods. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: This paper seeks to construct a new system for pension funding that balances the needs of all the pension stakeholders. It presents a system that supports plan sponsors’ needs for predictable and relatively smooth contribution streams with the needs of the PBGC, pensioners, and taxpayers for a well-funded system. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: This paper examines the funding expectations of the three primary stakeholders in the pension system: plan sponsors, taxpayers, and workers. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.