Description: The author reflects on the development and evolution of pension law since ERISA became effective in 1974. From: The Actuary, September 1999 – volume 33 - Issue 7.

Description: This article provides a flavor for the wealth of statistical information provided by the Bureau Of Economic Analysis. It describes the BEA program, tells how to obtain BEA outputs, and looks at some issues BEA faces.

Description: The Actuary Vol. 22, No. 1. This article discusses the impact of a change in procedure in the financing of the US Military Retirement System. The change requires amortizing the past service liability. The impact will depend upon whether the amortization is achieved by increasing current taxes and decreasing the current deficit, or by merely increasing the national debt and leaving the current deficit unchanged. The author asserts that the new financing method will not weaken the financial condition of the military retirement system, and that it has the potential to strengthen its financial condition if the funding of the past service liability is handled appropriately.

Description: Column from SOA president discussing opportunities for members of the SOA.

Description: This article discusses new developments on the regulatory front. Under the new agreement, insurance company management and boards will be required to issue a statement that reflects their judgment about the firm’s viability, including its capital adequacy. The required opinion will have five elements - identifying risks, measuring risks, a risk feedback loop, a risk tolerance statement, and a risk policy.

Description: This article is about papers submitted in response to a Retirement 20/20 call for submission of papers about Tier II retirement systems, i.e. those that are employer-provided retirement benefits that fit between social insurance and private savings.

Description: The Actuary Vol. 22, No. 3. This article discusses how the advantages of the General Agency system which existed prior to the 1970s have diminished materially. Therefore, European companies should be very cautious with any attempts to emulate the North American-type agency distribution system of the late 1980s.

Description: This article discusses the shift of capital in the 1980s from traditional Whole Life Insurance to Universal Life, Term, Variable products and Managed Care. Restructuring in the insurance industry presents challenges and opportunities for actuaries. The author exhorts actuaries to be part of the solution by updating actuarial science and expanding into new areas.

Description: This article discusses the Carter Report. It is a review of the Canadian federal system of taxation that would have far-reaching implications if enacted.

Description: This article describes the Investment Year Method for allocation of general portfolio investment income and demonstrates the equivalence of a fixed index or declining index system.