Description: This is an interview from The Actuary magazine. Mr. Francois Bourdon, FSA, was chosen co-recipient of the Professional Risk Manager (PRM) Candidate of the Year award for 2004. The Actuary decided to ask Mr. Bourdon about his recipe for success.

Description: Have you heard of Prospect Theory, the Nobel-winning concept from psychologists Kahneman and Tversky, which is the inspiration for much of behavioral economics? Come examine this concept that focuses on how people sometimes make irrational and logically inconsistent decisions depending on the framing of the question. You'll also explore how Prospect Theory applies in the world of insurance and how it offers an explanation for why selling retirement income products is more challenging than selling life insurance. Leave this session with ideas on how to design and market retirement income products that are likely to be more successful. The presentation will be largely based upon this paper: https://www.soa.org/sections/joint-risk-mgmt/joint-risk-mgmt-newsletter/2023/february/rm-2023-02-reynolds/

Description: Discusses what a personal actuary is and what one typically does.

Description: This web page contains a link to the Retirement Probability Analyzer software which was created by Professor Moshe Milevsky and the Individual Finance and Insurance Decisions 'IFID' Centre. The software explores in great detail the fundamental question of whether one will run out of money before dying, while maintaining a desired standard of living. The software has been written to compute probabilities associated with a variety of retirement investment and spending strategies. It is intended to serve as a pedagogical tool to help the user develop an intuition for the impact of various asset allocation and annuity purchase decisions. The software is not intended as a comprehensive retirement planning tool and should not be used, under any situation, for this purpose.

Description: Defined benefit plans have been disappearing from the private sector retirement program landscape. 401k Plans that have taken their place are not designed to provide retiree lifetime income. Individuals seldom work for a single employer and thus have many retirement accounts spread about. This commentary discusses an alternative approach to providing retirement income a voluntary basis in a vehicle that is decoupled from employers.

Description: This session series is sponsored by Hannover Re Session 1 - COVID-19: Past, Present and Future and Its Impact on Health Products COVID-19 has had an unprecedented impact on the health industry, forcing insurance companies and other risk-sharing entities to re-assess how to write and manage its business going forward. This first of two sessions in the special COVID-19 series will review the impact the pandemic has had on the development, pricing and risk management of health products. The speakers will review COVID-19 mortality and morbidity trends, share possible outlooks for the future of the virus, and analyze how COVID-19 has impacted the pricing strategies and risk management of health business across various markets (e.g., the ACA marketplace, Group Commercial and Medicare). By attending this session, you will be able to explain the latest COVID-19 trends in the US and globally and the resulting impact on mortality and morbidity experience. Attendees will develop a clearer understanding of how the pandemic has impacted the pricing and risk management of health products.

Description: This research report summarizes current research on retirement adequacy and compares different measures.

Description: This is a report that provides an analysis using data submitted by participating companies evaluating the impact of valuation mortality tables proposed for use in the life insurance industry. This study was designed to help “field test” the proposed tables on calculations for ordinary life insurance statutory reserves under VM-20 and tax reserves, nonforfeiture values, and IRC 7702/7702A.

Description: The Society of Actuaries Retirement Section is pleased to make available material that addresses the challenges in communicating pension risk to stakeholders