请各位北美精算师的学生们耐心回忆老师上课说的知识点，下面则是历年的大纲哦，请核对笔记，不辜负我们的殷切期盼哦。
　　an alternative program for the salaried employees of TechCo.
　　Justify your recommendation.
　　**END OF EXAMINATION**
　　MORNING SESSION
　　COURSE 8: Fall 2003 -8- GO TO NEXT PAGE
　　Retirement Benefits,
　　Comprehensive Segment – U.S.
　　Afternoon Session
　　**BEGINNING OF EXAMINATION 8**
　　COMPREHENSIVE SEGMENT – U.S.
　　AFTERNOON SESSION
　　All Questions pertain to the Case Study8. (8 points) NOC is considering laying off part of its union workforce to reduce costs. In
　　order to avoid layoffs, the union has agreed to discuss changes to the Full-Time Hourly
　　Union Pension Plan.
　　NOC has proposed to freeze accruals in the pension plan as of September 30, 2003.
　　Under the frozen plan, benefits would be determined for all active participants based on
　　service earned through September 30, 2003, and no future benefits would accrue.
　　The union offers a counter proposal to reduce future accruals as of January 1, 2004.
　　Under the union’s proposal, benefits would accrue to December 31, 2003 at the $75 rate.
　　After December 31, 2003, benefits would accrue at a rate of $50 per year of service
　　earned after December 31, 2003.
　　(a) Estimate the change in NOC’s 2003 accounting expense if NOC’s proposal is
　　adopted.
　　(b) If the union proposal is adopted, estimate the change in the 2003 and the 2004
　　accounting expense.
　　(c) Describe the effect of NOC’s proposal from both the employee and the employer
　　perspectives.
 
　　COURSE 8: Fall 2003 -9- GO TO NEXT PAGE
　　Retirement Benefits,
　　Comprehensive Segment – U.S.
　　Afternoon Session
　　All Questions pertain to the Case Study
　　9. (15 points) NOC is purchasing a refinery from ABC Company, and will offer
　　employment to all of the employees at the refinery. All refinery employees are members
　　of the ABC Refinery Pension Plan and the ABC Refinery Post-Retirement Medical plan.
　　There are no other members of these plans.
　　You are given:
　　Provisions of the ABC Refinery Plans
　　The ABC Refinery Pension Plan provisions are as follows:
　　?  Normal Retirement Age: Age 65
　　?  Early Retirement Age: Age 60
　　?  Normal Retirement Benefit: 1.75% of final earnings times years of service
　　?  Early Retirement Reduction: Actuarially equivalent
　　?  Normal Form of Benefit: If married, 50% joint & survivor, without
　　reduction. If not married, single life annuity
　　?  Post-Retirement Indexing: Lesser of 1% or CPI
　　?  Termination and Pre-Retirement Death Benefits: Lump sum value of the
　　accrued benefit, excluding indexation.
　　The ABC Refinery Post-Retirement Medical Plan provisions are exactly the same
　　as NOC’s.
 
　　COURSE 8: Fall 2003 -10- GO TO NEXT PAGE
　　Retirement Benefits,
　　Comprehensive Segment – U.S.
　　Afternoon Session
　　All Questions pertain to the Case Study
　　9. Continued
　　January 1, 2003 Membership Data – ABC Refinery Plans
　　The membership demographics of the refinery’s employees are described in the
　　following table:
　　Age <5 years
　　of service
　　5-10 years
　　of service
　　>10 years
　　of service
　　Total
　　<55 # Participants
　　Avg Salary
　　50
　　40,000
　　100
　　42,000
　　50
　　46,000
　　200
　　42,500
　　55-65 # Participants
　　Avg Salary
　　500
　　44,000
　　1,500
　　48,000
　　2,500
　　50,000
　　4,500
　　51,444
　　>65 # Participants
　　Avg Salary
　　150
　　高顿网校之名人话语：没有自由的秩序和没有秩序的自由，同样具有破坏性。 —— 西奥多·罗斯福