Description: Part 3 of Gray's summary of the Canadian report on taxation by the Carter Commission. One of the provisions would impose a 50% insurance company tax rate on the excess of surplus earnings over policy dividends disbursed.

Description: I read with interest the article by Sheri Lynn Levine in the November 1988 issue of The Fibonacci Quarterly on ‘Suppose More Rabbits Are Born.’ Levine,like Fibonacci, assumes that rabbits never die and made additional assumptions regarding rates of reproduction.

Description: This article describes activities of the Board of Governors to strengthen the role of research within the SOA. The Board actions include approving two additional professional staff positions for the Research Department and including $150,000 in a Research Development Fund to serve as seed money for research projects.

Description: This article on pensions and tax expenditures discusses the problems in the development of the numbers provided by the Office of Management and Budget. Tax reform proposals that quantify increases in tax revenue that would result from elimination of tax advantages of qualified pension plans are flawed in the author's opinion.

Description: The author expresses an opinion opposing specialization within FSA examinations explaining that such activity should occur after achieving FSA.

Description: The rules for picking prizewinners among Actucrossword solvers were changed in September 1982: the time taken to submit a solution ceased to be counted, and winners were to be determined by fiscal year instead of monthly. This article announces the winners for the period September 1982 through June 1982 and welcomes comments from solvers of either Aclucrosswords or Actucrostics that would make them more fun or of greater interest.

Description: This article discusses international proposals for accounting reform that would establish a global common measurement approach for the large majority of life insurance and annuity products.

Description: This article discusses calculating the present value given a set of non-level interest rates and a stream of cash flow emerging from that context. This is the nub of a problem that surfaces in determining the adequacy of a reserve in a manner which fully takes into account both the assets and liabilities involved.

Description: This article gives a brief history of the insurance industry in Switzerland and then describes the actuarial profession there today and tomorrow.

Description: A recent SOA regional meeting featured discussion on an age-old actuarial debate: Within the same company, should the return on equity ROE target vary by profit center PC depending upon the risk of the PC?