Description: This paper investigates the use of models of dependent mortality for determining annuity values. We discuss a broad class of parametric models using a bivariate survivorship function called a copula. Using data from a large insurance company to illustrate our methods, we calculate maximum likelihood estimates to calibrate the rnodel.

Description: This Excel workbook contains the complete set of tables developed from the Society of Actuaries 2003 Pension Plan Termination and Retirement Study. Separate tabs are included for the Basic Age Table, Basic Service Table, Select & Ultimate Table, Small Plan Age Table, and Small Plan Service Table.

Description: This Excel workbook contains the complete set of tables developed from the Society of Actuaries 2003 Pension Plan Termination and Retirement Study. Separate tabs are included for the Basic Age Table, Basic Service Table, Select & Ultimate Table, Small Plan Age Table, and Small Plan Service Table.

Description: An article in the Expanding Horizons newsletter, Issue 26, published in April 2003 that discusses the Annual Prize to the author or authors writing the best paper to appear in the North American Actuarial Journal, the leading scientific publication of the Society. It announces the winners of the award, Mary R. Hardy for A Regime–Switching Model of Long-Term Stock Returns,and Phelim P. Boyle, Adam W. Kolkiewicz and Ken Seng Tan, for Valuation of the Reset Options Embedded in Some Equity–Linked Insurance Products.

Description: Full version of Pension Section News, March 2000, Issue No. 42.

Description: In this paper we use expectations of different random variables to define the notions of retrospective, prospective, individual, and aggregate net premiums for plans with contingent obligations.

Description: This paper addresses the extension of the theory of life contingencies to a stochastic interest environment and its application to solvency valuation and surplus. A discussion of the paper follows. From Transactions of Society of Actuaries 1990, Vol. 42.

Description: Summary of the SOA's Annuity Valuation with Dependent Mortality research report which examines the standard industry practice of assuming independent lives for insurance products that cover multiple lives.

Description: Employee termination and retirement rates affect the valuation of employee benefit plans and thus are of concern to actuaries. To provide timely experience for the profession, the Society of Actuaries Pension Plan Turnover and Retirement Rates Committee organized a data collection effort. Thirty-two contributors provided almost 1.8 million life years of pension plan turnover data for years 1994-2000. This report documents the data assembly and verification procedures used in collecting the data.

Description: Increasing technology is available to create and disseminate educational resources worldwide. In response, this article advocates creation of open educational resources (OERs) that will benefit the actuarial profession with both recruitment and retention of members. Specifically, we describe OER contributions made at the University of Wisconsin-Madison and more recently through the ASTIN Academy, a working group of ASTIN, the non-life section of the International Actuarial Association. We advocate pushing boundaries and creating new ways of teaching effectively for the future. The innovative use of technology and open-source materials is a way to foster diversity, equity, and inclusion in the actuarial profession.