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Analysis of Target Benefit Plans with Aggregate Cost Method

Date created
2017-04-06
Authors/Contributors
Author: Han, Botao
Abstract
The operational characteristics of a target benefit plan based on an aggregate pension cost method are studied through simulation under a multivariate time series model for projected interest rates and equity returns. The performance of the target benefit plan is evaluated by applying a variety of performance metrics for benefit security, benefit adequacy, benefit stability and intergenerational equity. Performance is shown to improve when the economy remains relatively stable over time and when the choice of valuation rate does not create persistent gains or losses.
Document
Identifier
etd10121
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Copyright is held by the author.
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This thesis may be printed or downloaded for non-commercial research and scholarly purposes.
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etd10121_BHan.pdf 2.68 MB

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