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Abstract

Technical Review Panel for the Pension Insurance Modeling System (PIMS)
by Olivia S. Mitchell, Christopher C. Geczy, Robert Novy-Marx, Raimond H. Maurer, Donald E. Fuerst, Christopher M. Bone, Donald J. Segal, Martin G. Clarke, Frank J. Fabozzi, Deborah Lucas and David F. Babbel
WP 2013-290

In April of 2013, the Pension Research Council of the Wharton School at the University of  Pennsylvania convened a Technical Review Panel, comprising ten experts whose task it was to  review the Pension Benefit Guaranty Corporation’s (PBGC) Pension Insurance Modeling System  (PIMS), including inputs, outputs, and model assumptions. The review was intended to provide a  formal evaluation of the technical adequacy of the model by outside experts. Each expert  participating on the Technical Panel was asked to review background material (see References)  and focus on a particular aspect of the PIMS model. The list of panelists and topics was  developed by the Council in discussion with the Social Security Administration (SSA). This  report and the appended papers herein from our Technical Panel comprise the Final Report under  this project.

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