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Assignment (1) Calculate Early Retirement monthly benefit options. (2) Calculate the liability for the pension valuation as of 1/1/2020 Data: Name Doris Developer 12/7/1956 8/19/2002 3/12/2019 1/1/2020 1/1/2022 3/30/1952 $755.00 Pension Plan for Salaried Employees Date of Birth Date of Hire Date of Termination Date of Retirement Normal Retirement Date Spouse Date of Birth Monthly Social Security Pension Plan Pay History 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 $14,000.00 $47,059.46 $45,486.25 $41,456.34 $40,997.58 $56,088.94 $54,984.26 $50,486.44 $42,158.45 $40,802.46 Assignment Calculate Normal Retirement monthly benefit options. Data: Connie Crutches 5/15/1956 1/16/1991 11/15/2002 6/1/2019 6/1/2021 9/9/1962 Pension Plan for Hourly Employees Name Date of Birth Date of Hire Date of Permanent Disability Date of Retirement Normal Retirement Date Spouse Date of Birth Plan Hours History 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 0 1100 1854 1965 2044 2159 2035 1986 1865 1705 1289 1307 1455 1994 1993 1992 1991 Assignment: (1) Calculate Normal Retirement monthly benefit options. (2) Calculate the liability for the pension valuation as of 1/1/2020 Data: Name Date of Birth Date of Hire Date of Termination Date of Retirement Normal Retirement Date Spouse Date of Birth Plan Freddy Forklift 1/1/1955 11/26/1999 6/28/2008 1/1/2020 1/1/2020 7/15/1955 Pension Plan for Hourly Employees Hours History 2008 2007 2006 2005 2004 2003 2002 2001 1040 1997 1888 1749 1603 990 1675 1339 2000 1213 1999 174 Form of Payment Normal Form: Straight-Life Annuity Optional Forms: A. Joint and Survivor Annuity Factor Age of Beneficiary is 100% 50% 16 or more years younger i1-15 years younger 5-10 years younger 2-5 years younger Within 2 years 2-5 years older 6-10 years older 11-15 years older 16 or more years older 64.0% 67.5% 71.0% 745% 78.0% 81.5% 85.0% 88.5% 92.0% 80.0% 82.0% 84.0% 86.0% 88.0% 90.0% 92.0% 94.0% 96.0% B. 10 Year Certain and Life Annuity Factor is equal to 93%. Discount Rate Mortality Table Age 4.50% Probability of Death 04% 0.5% 0.5% 0.6% 0.7% 0.8% 0.9% 1.0% 1.1% 1.2% 60 61 62 64 1.3% 71 72 73 74 75 1.4% 1.6% 1.7% 1.9% 2.2% 24% 78 3.0% 79 3.4% 80 3.8% 81 4.3% 82 48% 83 54% 84 6.1% 85 6.9% 86 7.8% 87 8,8% 88 9.9% 89 11.1% 90 12.5% 91 13.9% 92 15.5% 93 17.0% 94 18.6% 95 20.2% 96 22.0% 97 23.9% 98 25.8% 99 27.8% 100 29.9% Assignment (1) Calculate Early Retirement monthly benefit options. (2) Calculate the liability for the pension valuation as of 1/1/2020 Data: Name Doris Developer 12/7/1956 8/19/2002 3/12/2019 1/1/2020 1/1/2022 3/30/1952 $755.00 Pension Plan for Salaried Employees Date of Birth Date of Hire Date of Termination Date of Retirement Normal Retirement Date Spouse Date of Birth Monthly Social Security Pension Plan Pay History 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 $14,000.00 $47,059.46 $45,486.25 $41,456.34 $40,997.58 $56,088.94 $54,984.26 $50,486.44 $42,158.45 $40,802.46 Assignment Calculate Normal Retirement monthly benefit options. Data: Connie Crutches 5/15/1956 1/16/1991 11/15/2002 6/1/2019 6/1/2021 9/9/1962 Pension Plan for Hourly Employees Name Date of Birth Date of Hire Date of Permanent Disability Date of Retirement Normal Retirement Date Spouse Date of Birth Plan Hours History 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 0 1100 1854 1965 2044 2159 2035 1986 1865 1705 1289 1307 1455 1994 1993 1992 1991 Assignment: (1) Calculate Normal Retirement monthly benefit options. (2) Calculate the liability for the pension valuation as of 1/1/2020 Data: Name Date of Birth Date of Hire Date of Termination Date of Retirement Normal Retirement Date Spouse Date of Birth Plan Freddy Forklift 1/1/1955 11/26/1999 6/28/2008 1/1/2020 1/1/2020 7/15/1955 Pension Plan for Hourly Employees Hours History 2008 2007 2006 2005 2004 2003 2002 2001 1040 1997 1888 1749 1603 990 1675 1339 2000 1213 1999 174 Form of Payment Normal Form: Straight-Life Annuity Optional Forms: A. Joint and Survivor Annuity Factor Age of Beneficiary is 100% 50% 16 or more years younger i1-15 years younger 5-10 years younger 2-5 years younger Within 2 years 2-5 years older 6-10 years older 11-15 years older 16 or more years older 64.0% 67.5% 71.0% 745% 78.0% 81.5% 85.0% 88.5% 92.0% 80.0% 82.0% 84.0% 86.0% 88.0% 90.0% 92.0% 94.0% 96.0% B. 10 Year Certain and Life Annuity Factor is equal to 93%. Discount Rate Mortality Table Age 4.50% Probability of Death 04% 0.5% 0.5% 0.6% 0.7% 0.8% 0.9% 1.0% 1.1% 1.2% 60 61 62 64 1.3% 71 72 73 74 75 1.4% 1.6% 1.7% 1.9% 2.2% 24% 78 3.0% 79 3.4% 80 3.8% 81 4.3% 82 48% 83 54% 84 6.1% 85 6.9% 86 7.8% 87 8,8% 88 9.9% 89 11.1% 90 12.5% 91 13.9% 92 15.5% 93 17.0% 94 18.6% 95 20.2% 96 22.0% 97 23.9% 98 25.8% 99 27.8% 100 29.9%

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