Description: This article discusses funding flat-benefit pensions and suggests steps to address what will likely be a future underfunded plan.

Description: Review of Fifty-Second Annual Report of the Board of Actuaries of the Civil Service Retirement System. The authors found it to be a concise well written report discussing a number of issues facing all pensions in an inflationary economy. Both the title and the dull format in the usual Government Printing Office style would seem to insure this document's instantaneous consignment to dead storage. However, behind the cover of this small pamphlet is a concise, well written report discussing-a-number of the issues facing not only federal pension programs at the present time, but all pensions in an inflationary economy. For example, several of the 11 pages devoted to the main report discuss the implications of static assumptions ignoring inflation as opposed to dynamic assumptions including inflation.

Description: On October 16, 1974, the Congress overrode the Presidential veto of H.R. 15301 The Railroad Retirement Act of 1974, a bill to restructure the railroad retirement system which was based on proposals made jointly by railroad management and labor. H.R. 15301 now P.L. 93-445 embodies some far reaching changes which are mainly directed toward relieving the difficult financial situation of the railroad retirement system.

Description: Actuaries may soon be required to select assumptions that are individually reasonable when measuring pension obligations. This is the core meaning of a proposed amendment to the Actuarial Standard of Practice #4 in addition to the proposed ASOP on economic assumptions.

Description: The first in a series of articles exploring the improvement in retiree life expectancies and ways the improvement can be incorporated into actuarial estimates of annuity and pension plan reserves.

Description: This article summarizes the speech by Lloyd A. Woolridge on pension vs. profit sharing, insured vs. uninsured and individual vs. group in regards to retirement income plans.

Description: The mathematical relationship between the interest rate and salary scale in pension valuations.

Description: A book review. This book provides an analysis of what is meant by adequate retirement income through an examination of the social security systems of four countries Sweden, Germany, Belgium and Canada to a program of reform for the United States pension system.

Description: This article discusses whether there should be a delayed retirement credit and, if so, how much the credit should be. The article distinguishes the applicability of the delayed retirement credit between social insurance and private pensions.

Description: The author delves into other important parts that should be in the scope of model validation besides the code.