Description: Updated longitudinal study of metrics for measuring contribution adequacy at paying down unfunded liabilities in corporate DB pension plans in the U.S.

Description: This video features Sherry Chan a C – level executive and SOA board member. This video provides an overview of retirement plans, focusing on Defined Contribution (DC) and Defined Benefit (DB) plans. DC plans operate like personal savings accounts, with contributions from employee, employer, or both, while DB plans promise a fixed monthly benefit upon retirement. The script also discusses various retirement plan sponsors, including employers, government entities, and self-sponsors, highlighting their roles and responsibilities. Additionally, it discusses strategies for plan sponsors, such as choosing between lump sum payments and annuities, considering workforce demographics, managing administrative complexities, and staying compliant with regulations. Overall, it emphasizes the importance of understanding plan differences and making strategic decisions to ensure retirement for employees. Contributors: Sherry Chan, FSA, EA< MAAA; Faith Wilson, FSA, CERA; Susan Boyle, FSA, EA, MAAA, FCA; Robert Shriver FSA, EA, MAAA, FCAS; Jon Forster ASA, MAAA.

Description: In this video, Sherry Chan, an experienced actuary, provides insights into key aspects of retirement planning. She emphasizes the importance of understanding defined benefit plans and highlights three main categories: Single Employer Plans, Multiemployer Plans (MEPs), and Public Plans. Chan discusses the significance of ERISA regulations, crucial assumptions used in actuarial calculations, and contemporary events impacting retirement planning, such as legislative acts like the Social Act and Secure 2.0 Act. She stresses the importance of adhering to Actuarial Standards of Practice and encourages exploration of emerging trends in Retire Tech, which integrates Fin Tech and Insure Tech advancements. Chan concludes by recommending further resources for in depth knowledge enhancement. Contributors: Sherry Chan, FSA, EA< MAAA; Faith Wilson, FSA, CERA; Susan Boyle, FSA, EA, MAAA, FCA; Robert Shriver FSA, EA, MAAA, FCAS; Rebecca Janus, ASA; Jon Forster ASA, MAAA.

Description: This article addresses how the ARPA has lessened the financial burden on sponsors of corporate defined benefit plans.

Description: The article and guidebook of the same name use a stochastic simulation model to examine potential impacts of public pension plan risk-sharing policies on government employers and plan members. Policies examined include simple policies such as COLAs and employee contributions that are contingent upon investment returns or funded ratios, and more-complex policies similar to those used in the Wisconsin Retirement System.

Description: This report includes information on variations in wind-up funding levels and examines differences in required PfADs attributable to differences in plan design.

Description: Based on work performed by Bob Howard, a former member of RPEC, the SOA developed a spreadsheet-based program that allows users to create a customized mortality improvement scale using the RPEC_2014 model. The RPEC_2014_v2018 model found here is a new version of the tool updated by the SOA and RPEC to reflect historical U.S. mortality experience through 2016. The tool can be used to model different assumption sets while utilizing the same methodology underpinning the development of Scale MP-2018.

Description: This is an article from The Actuary that discusses the need to reform defined benefit plans. The number of defined benefit plans in the United States has declined significantly over the past 20 years. If Congress overlooks the interests of plan sponsors in its reform, we're likely to witness further erosion of an already weakened defined benefit system, and America's workers would be the ultimate losers.

Description: This article provides a basic introduction to the taxation of qualified annuities held in qualified retirement plans and IRAs. The article has been updated for the SECURE Act and the SECURE 2.0 Act. The article describes the basic types of employer-based plans, provides of overview of the taxation of contributions and benefits when annuities are held in connection with plans and IRAs, explains the required minimum distribution rules, and offers a brief introduction to recent legislation impacting qualified annuities.