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北美考区SOA精算师真题精选November2004Course8RU（第3节课）

来源：高顿网校 2014-08-14

　　8月14日下午14点14分，高顿网校的小编为您精心策划的北美考区SOA精算师真题精选November2004Course8RU（第3节课），请认真阅读，必定提高。
　　8. (12 points) The Vice-President of Human Resources of NOC (VP of HR) is concerned

　　about the increased level and volatility of the National Oil Company Full-Time Salaried

　　Pension Plan costs over the past few years.

　　The VP of HR has proposed the following new cash balance design:

　　? Interest rate credit: 6% per annum

　　? Annual contribution credit: 5% of earnings

　　You are the actuary for NOC and have been hired by the VP of HR to assist with

　　implementing the new plan design. For purposes of this question, assume that

　　regulations governing pension plan benefits in Vosne are identical to those in the United

　　States.

　　(a) Identify the key plan design features that will need to be addressed in the

　　proposed design pertaining to retirement and ancillary benefits.

　　(b) Propose two options for transitioning current plan participants to the new design.

　　(c) Describe the effect that each of your proposed options is expected to have on the

　　benefits of current participants.

　　(d) Describe the effect that each of your proposed options is expected to have on the

　　2004 expense.

　　COURSE 8: Fall 2004 - 8 - STOP

　　Retirement Benefits,

　　Comprehensive Segment – U.S.

　　Afternoon Session

　　Questions 7 – 9 pertain to the Case Study

　　9. (10 points) Vosne is proposing the introduction of a defined contribution (DC) social

　　insurance program (SIP) effective January 1, 2004. Benefits would be funded by

　　employee and employer contributions, as follows:

　　? Employees and employers both contribute 5% of pay on earnings up to $45,000 (the

　　“Wage Base”).

　　? The Wage Base changes in line with changes in the average wage in Vosne.

　　? Contributions are invested at the direction of the employees by privately managed

　　investment companies selected by Vosne.

　　? Account balances are available to provide death, disability and retirement benefits.

　　? Account balances must be used to purchase annuities no later than age 65.

　　(a) Describe the challenges that other countries with DC based social insurance

　　systems have faced.

　　(b) Recommend changes to the proposed program. Justify your recommendation.

　　(c) In order to maintain an employee’s total benefit (DC SIP plus current plan) at a

　　level equivalent to that provided under the current salaried plan provisions, the

　　CFO of NOC is proposing to amend the National Oil Full-Time Salaried Pension

　　Plan benefit to 0.5% of best average earnings up to the Wage Base, plus 2.0% of

　　best average earnings in excess of the Wage Base.

　　Critique this proposal.
　　苦口的是良药，逆耳必是忠言。改过必生智慧。护短心内非贤。——高顿网校考试箴言

扫一扫微信，关注精算师*7考试动态

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