The goal of any defined benefit pension plan is to ensure that funds are always available to pay benefits to retirees and beneficiaries, specifically when they are due and for as long as they are to be paid. Actuaries are utilized to analyze the plans' member demographics (salaries, benefit formulas, leave balances, etc.), retiree life characteristics (mortality, longevity, etc.), and economic factors (investment returns, inflation, etc.) to determine how much needs to be contributed by employers and employees to ensure that this funding goal is met currently and into the distant future.
