Description: This session focuses on the financial issues related to income products. A panel of experts discusses pricing, investment, and risk management in underwriting payout annuities. From the Record of the Society of Actuaries, Volume 27, No. 3, Session 80PD of the New Orleans Annual Meeting.

Description: 1994 SOA Meeting, San Antonio. This session covered the SEC letter on FAS 87, discount rates analyzing the current yield curve, matching bond portfolios to benefit payments, selection of salary scale, selection of return on assets, update on ASB proposed standards, and the relationship, if any, of funding assumptions to accounting assumptions.

Description: 1993 SOA Annual Meeting, New York. This session is about the use of cash-flow testing in product development. Topics addressed: 1. The problem of interest rate risk and its driving forces. 2. The assumptions needed for cash-flow testing. 3. The pros and cons of deterministic versus stochastic testing. 4. The economic quantities measured in cash-flow testing. 5. The the technique of market-value analysis. 6. Research done to apply modem finance theory to determine the net worth of the enterprise in a way that directly demonstrates the financial impact of embedded options in assets and liabilities. 7. The technique of market-value analysis which adopts the innovations of duration/convexity analysis and option-pricing theory and applies these concepts to insurance liabilities. 8. The application of modern finance theory to determine the net worth of the enterprise. 9. A description of different uses of the OAVDE tool.

Description: This 1977 session discusses management of the actuarial resource, primarily in Life Insurance Companies. It includes questions such as: 1. What is an Actuary and What is his Function in a Life Insurance Company? 2. Is there a place for the highly skilled technician who does not care to manage people?

Description: Discussed are some of the major effects of the Retirement Protection Act of 1994 in areas other than funding. Topics included are calculation of lump sums, 415 limits, creation of the missing participants program, elimination of the excise tax for some non deductible contributions, and changes in the variable rate program. From the Record of the Society of Actuaries, Vol. 21, No. 4a.

Description: 1993 SOA Annual Meeting, New York. This session is about the various FASB statements with which the retirement benefit actuary must deal. Emphasis was on current developments. Topics included: 1. What the FASB is all about and what its objectives have been in issuing accounting standards that deal with various employee benefit plans. 2. The practical realities of dealing with clients and some of the problems that exist in dealing with these FASB statements. 3. The utilization and implementation of these FASB statements.

Description: 1993 SOA Annual Meeting in New York. This session is about an intercompany study on credit risk of private placement bonds and commercial mortgages. The development of the study, results for the 1986-1989 period, ongoing nature of the study, and company leverage were discussed.

Description: 1994 SOA Spring Meeting, Orlando. This session on credit risk presented a comparative survey of recent and ongoing research related to asset credit risk, and it provided analysis of SOA 1986-89 credit risk data.

Description: This session of the 1976 SOA Spring Meeting in Houston presented a panel discussion on issues related to Individual Retirement Accounts IRA in the U.S. and RRSPs in Canada. Topics included: 1. which products have proved successful, 2. regulation problems that have developed, 3. Taxation problems, 4. Rollover problems, 5. Problems with increases, 6. Competition from other financial institutions, 7. Applicability of new money rates, and 8. Long- term interest guarantees.

Description: Presented at October 1985 Annual Meeting. This session focused on three projects funded by the Actuarial Education and Research Fund: risk models, operations research applications for actuaries and probability modeling of losses.