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2002年11月SOA精算师北美地区考试真题Course8R（一）

来源：高顿网校 2014-08-26

　　2002年11月SOA精算师北美地区考试真题Course8R（一），全理解透彻可充满信心在考试中得到高分了哦。
　　Retirement Benefits,

　　Comprehensive Segment

　　Morning Session

　　Fall 2002

　　Society of Actuaries

　　**BEGINNING OF EXAMINATION 8**

　　COMPREHENSIVE SEGMENT

　　MORNING SESSION

　　All Questions pertain to the Case Study

　　1. (9 points) NOC and its union have negotiated the following changes to NOC’s Full-

　　Time Hourly Union Pension Plan:

　　Vesting 100% immediate vesting

　　Early Retirement Age 50 with 10 years of service

　　Normal Retirement Benefit $80 per month times years of service for

　　terminations/retirements during 2003 and beyond.

　　Early Retirement Benefit Unreduced benefit at age 62 with 30 years of service,

　　otherwise reduced by 0.4% per month that early

　　retirement precedes Normal Retirement Age.

　　Disability Benefit Continued benefit accrual until participant commences

　　disability retirement benefit. Disabled participants can

　　receive their unreduced accrued Normal Retirement

　　Benefit at any age.

　　(a) Describe issues associated with the design and introduction of this disability

　　benefit.

　　(b) Describe the effect of these plan changes on the funding and expense actuarial

　　valuations and their results.

　　Course 8R

　　COURSE 8: Fall 2002 - 2 - GO TO NEXT PAGE

　　Retirement Benefits,

　　Comprehensive Segment

　　Morning Session

　　All Questions pertain to the Case Study

　　2. (8 points) NOC is acquiring SmallSub, a subsidiary of LargeCo. NOC is purchasing

　　the assets of SmallSub. Employees of SmallSub will be offered employment with

　　NOC after the sale.

　　The employees of SmallSub participate in a DB ERP, sponsored by LargeCo, with a

　　benefit of 3% of best average earnings times years of service with SmallSub. All

　　other provisions mirror NOC’s Full- Time Salaried Pension Plan.

　　There are two options being proposed for pension benefits for employees transferring

　　from SmallSub.

　　Option 1

　　All SmallSub employees hired by NOC join NOC’s Full-Time Salaried Pension Plan.

　　Their past service benefits remain with the SmallSub pension plan.

　　Option 2

　　NOC would become the plan sponsor of the existing SmallSub pension plan. The

　　benefit formula would be amended to the greater of:

　　? the frozen accrued benefit on the date of sale, or

　　? 2% of best average earnings times years of service with SmallSub and NOC.

　　(a) Evaluate Option 1 and Option 2 from the perspective of NOC.

　　(b) Evaluate Option 1 and Option 2 from the perspective of the transferring

　　SmallSub employees.

　　COURSE 8: Fall 2002 - 3 - GO TO NEXT PAGE

　　Retirement Benefits,

　　Comprehensive Segment

　　Morning Session

　　All Questions pertain to the Case Study

　　3. (7 points) NOC is considering improving the early retirement benefit for the Full- Time Salaried

　　Pension Plan.

　　The early retirement benefit after January 1, 2003 would be the greater of:

　　(i) Accrued Benefit reduced by 0.25% per month that early retirement precedes

　　age 62, or

　　(ii) Accrued Benefit reduced by 0.25% per month that early retirement precedes 90

　　points (age plus service).

　　The following is a projected age/service table as at January 1, 2003 for the Full-Time Salaried

　　Pension Plan provided to you by NOC.

　　Age

　　(Years)

　　Service

　　(Years)

　　5 5-10 10-15 15-2020 Totals

　　25 # Participants

　　Average Salary

　　185

　　29,800

　　70

　　43,000

　　–

　　–

　　–

　　–

　　–

　　–

　　255

　　33,424

　　25-35 # Participants
　　要克服对死亡的恐惧，你必须要接受世上所有的人都会死去的观念。——高顿网校名人话语

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