Description: This paper discusses the Total Career Benchmark Model, consistent with Retirement 20/20 principles, focuses on reconstructing and maintaining a consistent and reasonable sharing of risks and rewards amongst the four stakeholders: Individuals, Society, Employers and the Markets. Modern technology provides the necessary tools. A series of benchmarks are used for tax limits, target pensions, accrual to date etc. The self adjusting, consistent benchmarks under the TCB Model, means that all stakeholders speak the same language. Individuals and Employers can easily compare what they have to what they need – and more importantly can see how to accrue what is needed. An individual’s ability to tax shelter income over a career is not dependent on the design of any employer pension plan. All funds allocated to an individual remain the individual’s and are not used to subsidize another person – except for the inherent risk sharing of an annuity – by hidden transfers of value.

Description: Personal highlights of a pension actuary's 10 years with the U.S. Social Security Administration and Senate staff, applying his experience and skills to emerging issues. He recommended that the Thrift Savings Plan for federal employees use index funds for common stocks, giving employees an attractive way to invest while keeping politics out of stock selection.

Description: The Total Career Benchmark Model, consistent with Retirement 20/20 principles, focuses on reconstructing and maintaining a consistent and reasonable sharing of risks and rewards amongst the four stakeholders: Individuals, Society, Employers and the Markets. Modern technology provides the necessary tools. A series of benchmarks are used for tax limits, target pensions, accrual to date etc. The self adjusting, consistent benchmarks under the TCB Model, means that all stakeholders speak the same language. Individuals and Employers can easily compare what they have to what they need – and more importantly can see how to accrue what is needed. An individual’s ability to tax shelter income over a career is not dependent on the design of any employer pension plan. All funds allocated to an individual remain the individual’s and are not used to subsidize another person – except for the inherent risk sharing of an annuity – by hidden transfers of value.

Description: Presented at October 1985 Annual Meeting. Discusses fifty years of Social Security and the role of actuaries, recruitment sources and problems, remuneration, functions of actuarial staff, problems of staff retention, political pressures, opportunities to influence national legislation.

Description: Article The 1979 Annual Report of the Trustees Of the U.S. Social Security Programs by Bartlett in The Actuary, June 1979, Volume 13, Number 6

Description: Article Retirement To Chaos by Smith in The Actuary, March 1979, Volume 13, Number 3

Description: This is a letter to the readers of the newsletter describing the content of the publication.

Description: The article discusses the Texas Pension Review Board's Guidelines for Actuarial Soundness applicable to Texas state public retirement systems (including the system's amortization period), and how these guidelines are consistent with and complementary to both the current GASB 27 ARC disclosure, and the imminent GASB 67 & 68 disclosures. The GASB requirements will change from a de facto funding standard to strictly disclosure requirements, with a focus on plans whose funding trajectory is the poorest.

Description: Responding to Sandy Mackenzie's "Report", these comments primarily suggest additional disclosures for assessing public pension plan financial health.