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Archive for February 14th, 2015

Love Is the True Pink

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vDay

 

One needn’t be an escapist indulging in fantasy to have fun. Far the contrary, the best fun comes from love, and love is the purest fun. So he who is too “practical” to accept fun is missing out on the most real experience of life: the joy of doing things together.

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Written by macheide

14 February 2015 at 5:48 pm

Posted in Adrien

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Pension PBO Funded Ratio for Quarterly FY Groups

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PBO FR quarterly FY groups 2014

Most public U.S. corporations use a calendar fiscal year (FY), ending on or around December 31. But although distinctly in the minority, a material group use fiscal years ending in every other month of the year — on or around January 31, on or around the end of February, on or around the end of March, and so on. Since accounting for pension plans generally rely on spot measurements as of the close of a fiscal year, and since asset experience and discount rates and other measurement factors can be very volatile during the course of a year, appraisal of the full universe of pension plans must take account of the different fiscal years.

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Written by macheide

14 February 2015 at 5:28 pm

Posted in άctuary

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Pensions PAYG Benchmark

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Pension Benefits v Contributions 2014 nov-dec (54)Very early on the education of a pension actuarial student encounters the pay-as-you-go (PAYG) “funding” method, under which contributions simply equal benefits. Except for the occasional reference to our Social Security system, which is basically run on a PAYG basis, the student then leaves the method behind for the majority of practice. Except for nonqualified deferred compensation plans for executives, numbers for which are a material piece of the pension numbers reported on corporate financial results — since those plans are unfunded, their contributions are made on a PAYG basis. In fact, during periods when companies have been on a “contribution holiday” for their qualified pension plans due to previous advance contributions (e.g., as was recently the case for GM), their domestic pension contributions are comprised entirely of PAYG amounts paid to their nonqualified deferred comp programs. Aside from those actual PAYG amounts, the PAYG basis offers a useful benchmark for assessment of total contributions made to all pension plans sponsored by an employer.

This chart shows results for 54 public U.S. employer with 2014 fiscal years ending in the 4th quarter of 2014 that have released their 2014 annual financial statements by 13 February 2015. For those companies, the chart shows aggregate pension benefits paid (smooth higher orange line) and aggregate employer contributions to pension plans (volatile lower blue line) for fiscal years 2000 through 2014.

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Written by macheide

14 February 2015 at 4:26 am

Posted in άctuary

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