Description: Exploration of sources of volatility in retiree health valuations, noting how volatility arises and might be mitigated, with discussion of valuation parameters more problematic for retiree health benefits than for pensions. Three significant influences on retiree health valuation volatility are covered-- changes in benefit level, fluctuations in cost level, and alterations in eligibility for, or duration of, benefit – and attention focused on the last two. Specific conclusions result in recommendations, which are supported by practical examples contrasting volatile measurement results with those likely from the recommended practices. Theoretical discussion includes health claim variation, health trend usage, financial economics, option pricing, discount rates, and deterministic vs. stochastic modeling.

Description: This article discusses the concept of Conservation of Mortality ("Conservation"). Conservation is the modeling principle that ensures consistency between assumptions of the total mortality of a population and mortality among population subsets. This article discusses the use cases for Conservation and the many ways that one could implement it in a model or an experience study. This article also discusses the potential issues that arise when using Conservation, and how one might solve or alleviate these issues.

Description: The next evolution of actuarial systems in the U.S. will likely be a move toward a single system solution. This article defines a single system solution and illustrates how models can be shared across actuarial functions, the potential benefits of a single system solution, and describes potential mitigation strategies to address typical actuarial concerns.

Description: This paper describes an approach to the problem of long range planning that a group insurance writing company might use in attempting to determine the most desirable rate of growth. These techniques may also be used for testing premium and dividend scales. Discussions of this paper are included.

Description: Article Disparate Origins Of Life And Non-Life Insurances by Beard in The Actuary, February 1979, Volume 13, Number 2

Description: This report provides estimated savings for several of the options that are available to plan sponsors after implementation of the Medicare prescription drug program.

Description: This article discusses the need for more coordination and consistency in assumption setting between the pricing actuary, illustration actuary, appointed actuary, and financial reporting actuary.

Description: The authors explore a new approach to the premium persistency assumption in universal life products.

Description: The April 2016 Issue of The Modeling Platform

Description: Summary of the SOA research project on PBR Simplified Methods. Describes the multi-risk scenario generator, central estimate assumptions, assumption objectivity measures, and regulatory demonstrations per VM-20.