Description: Mr. Rallis will discuss trends in the market for risk transfer of defined benefit plans in the US. He will also address implications of increasing longevity.

Description: Paper examines the asset allocation behavior of state and local pension plans.

Description: Paper presents a conceptual approach that could improve the security of retiree benefits while reducing the variability of employer contributions and improving the long-term prospects of the plan as a whole.

Description: Eric Friedman’s comments on ‘The Case for Stochastic Present Values,” by Dimitry Mindlin

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: A common approach to estimating the total amount of savings required to fund retirement is to first apply a generic “replacement rate” to pre-retirement income, such as 80%, to get the desired retirement income need. That need is then assumed to increase annually at the rate of inflation for the duration of retirement, which is generally assumed to be some fixed period, such as 30 years. Using government data along with a fairly simple market and mortality model, we explore these assumptions to more accurately estimate the true cost of retirement

Description: The abstract for the paper Dr. Phil's Guide to Pension Funding Reform.

Description: The abstract for the paper A Comprehensive Defined Benefit Pension Plan Reform Proposal

Description: This paper examines the history and current problems of the Pension Benefit Guaranty Corporation PBGC. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: Expert discussion of several previous papers. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.