Actuarial Perspectives on Defined Benefit Pension Risk – Modeling Emerging Issues

Christopher M. Bone

Abstract — This paper reviews documentation provided on the Pension Benefit Guaranty Corporation’s (PBGC’s) Pension Insurance Modeling System (PIMS). It also discusses priorities for future development of the system, based on emerging issues in pension plan design and environment, and it suggests particular emphasis be placed on improvements in refining the modeling of the multiemployer program.