Description: This paper is the final report in a project commissioned by the Society of Actuaries Social Security Committee. The paper considers a variety of possible risk classification factors that could be used in estimating the value of any mortality based benefit for retirees. As many countries consider mandatory individual retirement accounts as their answer to a secure Social Security system, the question arises as to whether all workers can get true 'market value' annuities when they retire. It is clear today that private sector life annuities are priced assuming that the applicant is healthy-very healthy. Very little underwriting or risk classification now exists in the individual annuity marketplace. This paper reviews 45 recent research papers that look at factors that affect mortality after retirement. In particular, factors that seem to be important in predicting retirement mortality include: age, gender, race and ethnicity, education, income, occupation, marital status, religion, health behaviors, smoking, alcohol, and obesity. For each factor, this paper gives highlights relative to the named factor of the impact expected from that variable as described in the 45 reviewed research papers.

Description: This paper reviews and compares the Canadian and U.S. Social Security systems as to their adequacy, actuarial equity and progressiveness. It concludes that the Canadian system[s] provide larger minimum benefits and, thus, greater adequacy than the U. S. On the other hand, the analysis indicates more emphasis on actuarial equity in the U.S. system [in total] than in Canada. Finally, both systems are shown to be highly progressive in that lower-wage earners get larger benefits per dollar of contribution than do higher wage earners. The paper concludes by noting that while the systems in these two countries have remarkably different actuarial formulae for determining benefits, and remarkably different structures, that the benefits that result from the two systems are surprisingly similar. From Actuarial Research Clearing House 1999, Vol. 1.

Description: This paper explores the relationship between the Wealth Transfer Index, a statistic defined by Brown and Bilodeau 1997, and retirement age, which is the age at which the workers in an economy cease to be economically productive. There appears to be a strong positive correlation between the Wealth transfer Index and retirement age based on Canadian historical data.

Description: The paper presents arguments to show that a fully funded social security scheme is no more secure economically than a pay as you go scheme....that is, for real retirement income security the funding mechanism is irrelevant. From Actuarial Research Clearing House, January 1996, VOL. 1.

Description: There is growing evidence of a positive correlation between income levels and longevity. In short, high-income earners live longer. That also means that high-income earners get larger retirement-income security benefits from Social Security. This correlation raises a number of questions: if Social Security contributions are a level percentage of earnings, and high-income earners live longer and receive larger Social Security benefits, then is Social Security regressive? If higher-income actually causes enhanced longevity, then would providing more Social Security benefits enhance population life expectancy? This paper analyzes both the OASDI system of the United States and the Canada/Quebec Pension Plans in Canada to see if these systems are 'a good deal' and whether they are regressive or progressive as defined above. From Actuarial Research Clearing House 1998 Vol. 1.

Description: This paper discusses the marketing implications of the baby boom generation and the aging of the Canadian population in general. From the Actuarial Research Clearing House 1991, Vol.1.

Description: This is a August 1, 1990 memorandum sent to selected members of the Society of Actuaries announcing the creation of an Education and Research Section. From Actuarial Research Clearing House, 1991 Vol. 1.

Description: This paper discusses the rectangulatization of the survivorship curve and some related puzzling deviations between expectations and observations. From Actuarial Research Clearing House 1991, VOL. 2.

Description: In the past few years, SoA members and leaders have raised questions about future needs for actuarial skills, globalization of markets, and the appropriate focus of the present education system in preparing actuaries for their professional futures. As a consequence of these questions, the SoA Board of Governors set aside a major portion of its January 1994 meeting to discuss the education of actuaries, with primary consideration being given to a longer horizon than the immediate future. Chris Daykin, representing the Institute of Actuaries, reported that the Institute was incorporating fundamental changes to its basic Education and Examination [E&E] system. These changes were aimed at focusing more on fundamental principles and away from details of practice.

Description: These are the presentation slides for Risk Management Education by R. Brown found in the January 2006 ARCH.