Description: The author shares the story of his actuarial career and provides insight into the development of retirement today and the past and future of the pension actuary.

Description: Recent studies have suggested that teachers would be better off with DC or Cash Balance plans than with DB. Detailed data from CalSTRS support the opposite.

Description: From the Record 1977 Vol. 3, No. 4, this presentation is from a concurrent session at the Society of Actuaries 1977 Annual Meeting, held in Boston October 24-26. In addressing current developments with respect to the Employee Retirement Income Security Act ‘ERISA,’ the panelists discuss the relationship between actuaries and accountants, problems caused by ERISA and pending legislation, including mandatory retirement age, and beneficial aspects of ERISA. Current developments with respect to the Pension Benefit Guaranty Corporation ‘PBGC,’ Contingent Employee’s Liability Insurance, ‘CELI,’ and head tax increase are also included.

Description: Discussion of the ways the volatility of the full funding limitation can be used as a consulting opportunity. Discussion of smoothing cash flow in the current regulatory environment and cash-flow forecasting in a volatile market.

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.