Description: This article describes how there are many kinds of plans and arrangements under which qualified annuities are issued, and the rules governing them differ considerably.

Description: Presented at May 1996 Spring Meeting. This session provides an update on current annuity financial reporting topics, including: status of annuity valuation law revisions and proposed Actuarial Guideline GGG.

Description: Presented at May 1985 Spring Meeting. This session discussed: Single premium deferred annuity, Flexible premium annuity, Universal life, Vanishing premium life, Indexed products, Variable products, Reinsurance.

Description: Statutory Statement of Accounting Principle SSAP No. 35 prescribes accounting for guarantee fund assessments and potential future premium tax credits against these assessments. This article discusses the deductibility of these assessments for federal income tax purposes, providing updates on recent court cases and regulatory guidance.

Description: This paper addresses the classification of products according to their accounting standards: SFAS 60 for traditional products, SFAS 97 for interest sensitive products, and SOP 95-1 for participating products. In particular, the question of which products should be classified under the Statement of Position will be addressed. In addition, it will be shown that if a product's dividend formula passes on to the policyholder significantly less than a full asset share an over-reserving problem will occur if the Statement of Position is used as the accounting system.

Description: Presented at June 1986 Spring Meeting. This discussion is about the work of the committees of the Society of Actuaries and American Academy of Actuaries in advancing the role of the valuation actuary: Current status of the valuation actuary movement, Standards of practice, Qualification requirements, The valuation actuary in Canada.

Description: Presented at May 1985 Spring Meeting. Discusses: Statutory annual statement, Statement of actuarial opinion for interest-indexed universal life insurance, American Academy of Actuaries Financial Reporting Recommendation 7, Statement of opinion required by New York State for annuity products, Other required statements of actuarial opinion, The Valuation Actuary, Practical techniques and actual experiences.

Description: Presented at April 1985 Spring Meeting. This session discussed: Definition of good and sufficient provision for unpaid and actuarial liabilities as used in the NAIC model bill, Actuary and auditor relationships in documentation, reasonableness of results, materiality, margins, and disclosure, Techniques for estimating unpaid claim liabilities, Reverse testing, Considerations regarding incurred date coding in establishing claim reserves, Reserving methodologies for alternative funding products, Reserves for catastrophic claims, Measurement, evaluation, and adjustment for claim department backlogs, changes in claim submission patterns, and environmental changes, etc.

Description: Presented at June 1985 Spring Meeting. Discusses statutory and GAAP accounting alternatives for Universal Life, Variable Products, Flexible Premium Annuity and Single Premium Deferred Annuity.

Description: The new 2001 CSO regulation requires the filing of an asset adequacy opinion when the table is utilized - which can be a significant issue for small insurers.