我们这里题库、网校和网课课件啥都有！——北美SOA真题精算师考试2005年度——Course8RC（第三大块）
　　7. (11 points) NOC would like to amend the Full-Time Hourly Union Pension Plan to
　　encourage members to retire later. The union has proposed a voluntary phased retirement
　　program that would allow employees to:
　　? work 50% of full-time at current hourly rates;
　　? receive 50% of early retirement pension benefits based on accrued service;
　　? earn 50% of regular pension credit for future service; and
　　? retain full-time eligibility and cost-sharing for other employee benefits.
　　(a) Critique the union proposal from the perspective of the employer.
　　(b) Describe how a Deferred Retirement Option Plan (DROP) could be used instead
　　of the union’s proposal.
　　(c) Outline the considerations in preparing the next accounting valuation if a DROP
　　is implemented.
　　COURSE 8: Fall 2005 - 6 - STOP
　　Retirement Benefits,
　　Comprehensive Segment – Canada
　　Afternoon Session
　　Questions 7 – 9 pertain to the Case Study
　　8. (10 points) On January 1, 2005, NOC purchased non-participating annuity contracts for
　　all inactive participants in the Full-Time Hourly Union Pension Plan for $95,000,000.
　　The Normal Retirement Benefit rate was subsequently increased from $75 to $80
　　effective January 1, 2005.
　　You are given:
　　ABO as of December 31, 2004:
　　? Inactive participants: $ 105,600,000
　　? Active participants: $ 500,433,000
　　ABO as of December 31, 2005: $ 476,500,000
　　Contribution on July 1, 2005: $ 100,000,000
　　Benefit payments in 2005: $ 225,000
　　Market Value of Assets as of December 31, 2005: $ 295,000,000
　　(a) Determine the 2005 pension expense.
　　(b) Develop the change in benefit obligation, change in plan assets, and a
　　reconciliation of the ABO to the accrued benefit asset/liability as required by
　　CICA 3461 for NOC’s financial statements as of December 31, 2005.
　　9. (9 points) In Gevrey, multiemployer retiree medical plan benefits may be prefunded at
　　the discretion of the board of trustees. The contributions to the fund are tax deductible.
　　You are the actuary for a multiemployer retiree medical plan in Gevrey. The plan
　　provisions are identical to the NOC plan. The plan is contracted to be funded on a cents
　　per hour basis.
　　A recent medical breakthrough will increase life expectancy by 10 years. As a result, the
　　plan is no longer fully funded.
　　Analyze the impact on the plan as it relates to funding, design and participation.
　　**END OF EXAMINATION**
　　我要求别人诚实，我自己就得诚实。两心不可以得一人，一心不得百人。-淮南子·缪称训——高顿网校名人话语