Description: This article briefly summarizes the history of the Passive Foreign Investment Company (PFIC) tax regime. Then it provides a detailed description of the PFIC proposed regulations issued in July of 2019.

Description: This session from the 1994 Valuation Actuary Symposium discusses expectations from asset adequacy analysis including the process of financial condition examination by regulatory authorities, asset cash flows particularly related to mortgages, reliance on investment professionals and recent developments at the NAIC level.

Description: In this article the author concludes that “terrorism may foster a sense of conservatism that we may now need in the marketplace. Now that policy may have to be changed. In the process, risk will become better understood, common sense can replace, to some extent, the irrational behavior or excessive risk taking of the past and we will all appreciate our financial situation much more, and won’t expose ourselves to unrealistic expectations as much Hopefully the actuarial profession can respond to the challenge, since we are the best qualified to quantify such risks in the marketplace.”

Description: This article highlights the Annual Meeting Session 39 on the Equity Risk Premium (ERP), mentions related sources. Further, it asks whether in the future we will no longer regard the ERP as a single monolithic entity but as a mosaic of premia, and also whether individual investors presently are too optimistic.

Description: Summarizes the state of US government balance sheet and defends the view that inflation will not rise sharply in the next few years.

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: This article shows how market participants’ view of risk impacts not just their own choices, but also how they impact on everyone else's choices as well.

Description: Investment Fallacies: The Fallacy of Independence

Description: Investment Fallacies: A real-world approach to Value at Risk

Description: The goal of the sessions was to learn how advisors are reaching out to this market and to uncover the roadblocks that they think are deterring greater mid-market use of financial services.