Description: The current financial model put forth as the market value of public sector pension benefit liabilities is simply the expected cash flows of the accumulated benefit obligation, as defined for current private sector financial reporting, discounted using a risk-free yield curve. This model is in serious need of an overhaul. This monograph addresses this issue.

Description: This paper investigates the effect of select birth cohorts on pricing of mortality-based securities, such as survivor bonds, life annuities in general, or portfolios of life annuities.

Description: Authors’ response to comments by Ryan Labs Asset Management on paper by James J. Rizzo Krzysztof M. Ostaszewski Piotr Krekora.

Description: Comments by Ryan Labs Asset Management on paper by James J. Rizzo Krzysztof M. Ostaszewski Piotr Krekora.

Description: Part 4 presents an alternate approach to obtaining the fair value of the public sector employer’s pension benefit liability.

Description: Paper offers a model retirement plan that addresses the needs of retirees, financial institutions, and intermediaries.

Description: Sound and Workable Pension Actuarial, Accounting, and Funding Approaches for those Interested in the Health of Public and Private DB Plans – Discussant Comments

Description: The abstract for paper Mortality Improvement Select Birth Cohorts and Their Effect on Pricing Survivor Bonds.

Description: Argues that most retirees face multiple financial risks that need to be considered simultaneously so that limited resources can be applied in a manner that is rational and satisfying. A specific procedure for developing such an individualized risk strategy is described.

Description: Part 2 proposes solutions to the second of three flaws of the current financial model to obtaining the fair value of the public sector employer’s pension benefit liability.