Description: The current financial model put forth as the market value of public sector pension benefit liabilities is simply the expected cash flows of the accumulated benefit obligation, as defined for current private sector financial reporting, discounted using a risk-free yield curve. This model is in serious need of an overhaul. This monograph addresses this issue.

Description: Authors’ response to comments by Ryan Labs Asset Management on paper by James J. Rizzo Krzysztof M. Ostaszewski Piotr Krekora.

Description: Comments by Ryan Labs Asset Management on paper by James J. Rizzo Krzysztof M. Ostaszewski Piotr Krekora.

Description: Response to David Kausch’s comments on the paper.

Description: This article discusses some of the ideas of pension finance, how to present such information, and how it was presented to the New York City Retirement Systems (NYCRS) in a way that made it available to other interested parties, including the public.

Description: Part 3 proposes solutions to the third of three flaws of the current financial model to obtaining the fair value of the public sector employer’s pension benefit liability.

Description: Part 2 proposes solutions to the second of three flaws of the current financial model to obtaining the fair value of the public sector employer’s pension benefit liability.

Description: Comments on Robert North’s paper, a real case study of disclosing MVL in a public employee retirement system.

Description: Part 5 addresses various purposes for measuring a public sector pension liability and which measures have the most practical usefulness.

Description: A response to the comments on the paper.