Description: This report compares the CIA pricing method for estimating group annuity closeout pricing to methods used in the US.

Description: This study examines reductions in retirement benefits from the decline in defined benefit plans and increases in defined contribution plans during the past 20 years and what effect this has on workforce management. In particular how this change is affecting older workers’ decisions to retire and what effect this could have on companies. An underlying assumption implicit in evaluating the benefit of retirement of older workers is that productivity declines in old age while pay does not, leading to a pay productivity gap that could have an adverse effect on the employer from delayed retirement. The validity of this assumption was also examined.

Description: This paper is a practical guide to the terminal funding annuity product. Actuarial considerations, investment strategies, administration, and marketing aspects are discussed.

Description: This is a research project on possible replacement indices for the 30 year treasury rates used to value current liability for defined benefit pension plans in the US.