A computer-implemented method settles a partition of a set of liabilities of a defined benefit pension plan arising from projected benefit payments promised to all or a subset of plan participants including pension benefits and other post-retirement benefits. The method includes calculating by the computer system the set of pension liabilities including the required benefit payments for each future year in the lifetime horizon of each participant in the entire or subset of the membership roster of the defined benefit pension plan using projected values based on the plan's specific benefit provisions, where the projected benefit payments are based on one or more assumptions including mortality, morbidity or survivorship. The method also includes specifying a settlement horizon comprised of partitions of the projected future lifetimes of participants over the membership roster, and calculating by the computer system the projected benefit payments within the settlement horizon.
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