Description: In this session, we will explore investment solutions that aim to maintain the long-term viability of a pension plan, with considerations on hedging interest rates, credit, inflation, longevity and other risks, while accounting for the many particularities associated with underlying liabilities and their corresponding ramifications.

Description: Models are useful in illustrating various facets of complex phenomena, but they are inherently limited.

Description: Public DB plans have fatal designs such as basing benefits on a few years of earnings. Redesigning DB to be similar to SS will alleviate solvency challenges.

Description: These are the abstract, outline, graphs and tables of the paper “Conclusions from Michigan Studies of Social Security Financing”. By such studies we mean the papers prepared during the past five years by actuarial students and Cecil Nesbitt, and which have appeared in ARCH. The paper is in three parts: A lengthy Abstract, followed by 17 pages of text, graphs, tables and references. The third part is a 10 page Appendix which gives the proofs of text statements.

Description: This is the fourth paper on n-year roll forward reserve financing of public benefit systems, especially Old-Age, Survivors and disability Insurance OASDI, prepared by University of Michigan faculty and students. As the papers have developed, some ideas have been simplified, while others have become more complex. It is concluded that the theoretical model requires further attention. This research can be extended to expand our knowledge of OASDI financing and the applicability of n-year roll forward reserve financing.

Description: In the context of insurance economics, the PH-transform is justified through some basic postulates on market premiums. In this paper the PH-transform is applied to the present value random variable in life insurance and annuities. It provides an alternative to the commonly used equivalence principle in life insurance and annuities premium calculation. This research project is sponsored by a joint AERF/CKER Grant of the Society of Actuaries.

Description: Using basic actuarial principles to develop a reasonable spending budget and to keep spending/savings on track to meet financial objectives.

Description: discussion of an insurance product which ensures the payment of an anticipated tax refund, in order to allow the taxpayer to borrow against that refund to meet liquidity needs.

Description: In this session, senior pension and insurance investment professionals will share their thoughts on current investment topics. Attendees will hear about leading edge investment ideas and practices from industry leaders.