{"id":464,"date":"2015-01-06T15:57:50","date_gmt":"2015-01-06T15:57:50","guid":{"rendered":"http:\/\/frees.pajarel.net\/?page_id=464"},"modified":"2015-02-20T18:28:34","modified_gmt":"2015-02-21T00:28:34","slug":"special-case-2-pension-plan-termination-and-retirement-model","status":"publish","type":"page","link":"https:\/\/users.ssc.wisc.edu\/~ewfrees\/actuarial-mathematics\/multiple-decrement-models\/1-examples-of-multiple-decrement-models\/special-case-2-pension-plan-termination-and-retirement-model\/","title":{"rendered":"Special Case 2. Pension Plan Termination and Retirement Model"},"content":{"rendered":"<p>In this special case, we might let<\/p>\n<ul>\n<li>0 means Active<\/li>\n<li>1 means Retired<\/li>\n<li>2 means Disabled<\/li>\n<li>3 means Death<\/li>\n<li>4 means Termination<\/li>\n<li>5 means Withdraw for Other Reasons<\/li>\n<\/ul>\n<p>This model is relevant for certain retirement systems where benefit amounts vary by the<br \/>\nreason for leaving employment.<br \/>\n<em>Source:<\/em> 2003 <a href=\"http:\/\/www.soa.org\/research\/experience-study\/pension\/research-2003-soa-pension-plan-turnover-study.aspx\">Society of Actuaries Pension Plan Turnover Study<\/a>, http:\/\/www.soa.org\/<\/p>\n<p>Figure 2: Aggregate Turnover Termination and Retirement. Termination estimated probabilities are smoothed via Whittaker-Henderson Type B whereas retirement estimatedprobabilities are unsmoothed. Estimated probabilities are in percent.<br \/>\n<a href=\"http:\/\/www.ssc.wisc.edu\/~jfrees\/wp-content\/uploads\/2015\/01\/RetirementSystemTurnoverLCrop.png\"><img decoding=\"async\" loading=\"lazy\" src=\"http:\/\/www.ssc.wisc.edu\/~jfrees\/wp-content\/uploads\/2015\/01\/RetirementSystemTurnoverLCrop-300x178.png\" alt=\"RetirementSystemTurnoverLCrop\" width=\"300\" height=\"178\" class=\"aligncenter size-medium wp-image-465\" srcset=\"https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-content\/uploads\/2015\/01\/RetirementSystemTurnoverLCrop-300x178.png 300w, https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-content\/uploads\/2015\/01\/RetirementSystemTurnoverLCrop-1024x607.png 1024w, https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-content\/uploads\/2015\/01\/RetirementSystemTurnoverLCrop.png 1350w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>Figure 3: Aggregate Turnover Death, Disability and Other. All estimated probabilities are smoothed. The vertical scale indicates that probabilities of turnover from these sources are much smaller than retirement and termination. Estimated probabilities are in percent.<br \/>\n<a href=\"http:\/\/www.ssc.wisc.edu\/~jfrees\/wp-content\/uploads\/2015\/01\/RetirementSystemTurnoverRCrop.png\"><img decoding=\"async\" loading=\"lazy\" src=\"http:\/\/www.ssc.wisc.edu\/~jfrees\/wp-content\/uploads\/2015\/01\/RetirementSystemTurnoverRCrop-300x166.png\" alt=\"RetirementSystemTurnoverRCrop\" width=\"300\" height=\"166\" class=\"aligncenter size-medium wp-image-466\" srcset=\"https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-content\/uploads\/2015\/01\/RetirementSystemTurnoverRCrop-300x166.png 300w, https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-content\/uploads\/2015\/01\/RetirementSystemTurnoverRCrop-1024x567.png 1024w, https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-content\/uploads\/2015\/01\/RetirementSystemTurnoverRCrop.png 1400w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p><div class=\"alignleft\"><a href=\"https:\/\/users.ssc.wisc.edu\/~ewfrees\/actuarial-mathematics\/multiple-decrement-models\/1-examples-of-multiple-decrement-models\/special-case-1-cause-specific-death-model\/\" title=\"Special Case 1. Cause-Specific Death Model\">&#9668 Previous page<\/a><\/div><div class=\"alignright\"><a href=\"https:\/\/users.ssc.wisc.edu\/~ewfrees\/actuarial-mathematics\/multiple-decrement-models\/2-multiple-decrement-probabilities\/\" title=\"2. Multiple Decrement Probabilities\">Next page &#9658<\/a><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In this special case, we might let 0 means Active 1 means Retired 2 means Disabled 3 means Death 4 means Termination 5 means Withdraw for Other Reasons This model is relevant for certain retirement &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":458,"menu_order":0,"comment_status":"closed","ping_status":"open","template":"","meta":{"jetpack_post_was_ever_published":false},"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/P8cLPd-7u","acf":[],"_links":{"self":[{"href":"https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-json\/wp\/v2\/pages\/464"}],"collection":[{"href":"https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-json\/wp\/v2\/comments?post=464"}],"version-history":[{"count":4,"href":"https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-json\/wp\/v2\/pages\/464\/revisions"}],"predecessor-version":[{"id":1599,"href":"https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-json\/wp\/v2\/pages\/464\/revisions\/1599"}],"up":[{"embeddable":true,"href":"https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-json\/wp\/v2\/pages\/458"}],"wp:attachment":[{"href":"https:\/\/users.ssc.wisc.edu\/~ewfrees\/wp-json\/wp\/v2\/media?parent=464"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}