Description: The Actuary Vol. 22, No. 1. This article discusses the impact of a change in procedure in the financing of the US Military Retirement System. The change requires amortizing the past service liability. The impact will depend upon whether the amortization is achieved by increasing current taxes and decreasing the current deficit, or by merely increasing the national debt and leaving the current deficit unchanged. The author asserts that the new financing method will not weaken the financial condition of the military retirement system, and that it has the potential to strengthen its financial condition if the funding of the past service liability is handled appropriately.

Description: The Statement of Financial Accounting Standards No. 87. Employers’ Accounting for Pensions, became effective in 1987. This is an accounting/actuarial standard with significant income statement and balance sheet implications. This article discuses the results of a survey of selected affected companies regarding the impact of this standard.

Description: A presentation of various views on establishing principles and practices for pension plan construction and valuation, in light of the passage of the Pension Reform Act. Presented at the Spring 1975 Meeting in Los Angeles.

Description: A critique of the SOA's co-sponsoring of the Manhart Brief which addressed sex discrimination in pension rates. The critique argues that the brief fails to satisfy standards of academic rigor reflected in other SOA publications.

Description: Background of the Manhart case on sex discrimination in pension rates, summary of the brief prepared for the case by an SOA task force, and text of a letter submitted to the court by SOA members critical of the brief.