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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