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Pension Insurance Modeling System (PIMS)

Recent PIMS Reports

 

Information about PIMS

Third Party Research Using PIMS

Third Party PIMS Users

Publications

PIMS Peer Review History

The Moving Ahead for Progress in the 21st Century Act (MAP-21) requires PBGC to contract with a capable agency or organization that is independent of PBGC to conduct annual peer reviews of SE PIMS and ME PIMS. The table below outlines current and previous PIMS Peer Reviews.

Topic(s)

Contractor

Final Report

Review of the data inputs and the process followed for preparing the data sets used. Develop recommendations to improve the plan, participant, and plan sponsor data used to produce the projections.

Buck Global, LLC

Expected November 2021

Review of PBGC’s Multiemployer (ME) PIMS Recoded Model.

Cheiron

MAP-21 Peer Review FY 2019

Modeling of single-employer plan sponsors’ contribution policies and provide analysis on risk transfer activities. Modeling of changes in the number of active participants in multiemployer plans.

Advanced Analytical Consulting Group, Inc.

MAP-21 PIMS Peer Review FY 2019

Multiemployer Active Participants

Single-employer Risk Transfers

Single-employer Contributions

Review of the current modeling of bankruptcy and industry-wide clusters of bankruptcies, as well as contagion effects that might spread through the multiemployer pension system.

Advanced Analytical Consulting Group, Inc.

MAP-21 PIMS Peer Review FY 2018

Bankruptcy Report

Contagion Report

An in-depth, review of PBGC’s SE and ME PIMS. Split into three deliverables over three years:

  • FY 2016 and FY 2017 — stochastic modeling process, coding of the models, internal consistency, and ease of implementation of modifications
  • FY 2015 — simulation of plan sponsors and plan viability, modeling of sponsor failure risk and PBGC plan administration, PIMS model development, modification, and refinement
  • FY 2014 — modeling of macroeconomic variables, PIMS documentation, model output.

Procurement was led by Social Security Administration.

FTI, Inc. (via Social Security Administration)

MAP-21 Peer Reviews (FY 2016)

MAP-21 Peer Reviews (FY 2015)

MAP-21 Peer Reviews (FY 2014)

Review and evaluate the data, assumptions, and methods underlying models of the PBGC’s pension plan insurance programs and related models (PIMS) of pension funding and sustainability. Procurement was led by Social Security Administration.

Retirement Research Consortium, National Bureau of Economic Research, and Brookings Institute

MAP-21 Peer Reviews (FY 2013)

Evaluate the soundness of the economic and statistical theory and actuarial principles that underlie ME-PIMS

Buck Consultants

Review of ME-PIMS (FY 2012)

 

Actualizado por última vez: April 16, 2021