Description: In this paper, the author identifies two problems that are perceptible with most versions of the investment-year method of allocating investment income. The author then focuses on conceptual approaches to solving these two problems. From Transactions of Society of Actuaries 1983 Volume 35.

Description: This paper presents mortality rates by sex at ages 90 and above for persons who received retired worker benefits from the social security program for the first month that such benefits were paid. Followed by a discussion paper

Description: This paper studies the statistical theory underlying minimum surplus required to protect a group insurer from the insurance, or C2, risk. Followed by 2 submitted discussion papers

Description: The interest-adjusted method has come to be the most widely accepted method for comparing costs of individual life insurance policies. This paper presents a relatively simple modification of the interest-adjusted cost method that serves more general purposes satisfactorily. From Transactions of Society of Actuaries 1980, Vol. 32.

Description: This report has been organized into the following principal sections: The Profession, Society of Actuaries Internal Organization, Education, and The Immediate Future. From Transactions of Society of Actuaries 1977, Vol. 29.

Description: This paper explores how change in societal forces can affect the systems for providing security including private pensions, social security, life insurance and health insurance. The societal forces examined are changes in family, role of women, inflation and the age composition of population. From Transactions of Society of Actuaries 1978, Vol. 30.

Description: This paper develops net claim costs for each major type of dental service, using experience data under group dental contracts covering 250,000 persons from 1974-1977. From Transactions of Society of Actuaries 1979, Vol. 31.

Description: The purpose of this paper is to provide an introduction to mathematical principles applicable to pension funding under dynamic conditions of population growth, inflation, and automatic adjustment of benefits. From Transactions of Society of Actuaries 1976, Vol. 28.

Description: This paper examines tandem levels of salary and interest rates and finds that the absolute level of each assumption as well as the differential are significant cost determinants for defined benefit pension plans. In forming best-estimate salary and interest rate assumptions, the actuary must reconcile the difference, if any, between the currently observed rates and the valuation assumptions. Common practice is to choose expected long-term rather than observed rates for valuation purposes. The error in this procedure is analyzed and found to be tolerable for strictly temporary discrepancies between observed rates and valuation assumptions. For situations where these discrepancies are expected to persist for some time, a need is shown for nonuniform, calendar-year assumptions or their equivalent in order to develop best-estimate assumptions. Followed by several discussion papers submitted

Description: Investment risk management has become a core competency of insurance companies, and much has been discussed on this topic. This session examines the current investment risk management practices such as product line specific hedging and macro hedging, with a focus on what still remains to be addressed—whether the tradeoff of addition risk management is worthwhile.