Description: Presents a practical solution to some of the distortion caused by a typical application of the retrospective assumption update (unlocking) method.

Description: This session is about meeting the needs for financial information in managing an insurance company. Topics include: 1. What are management's basic needs how are they met can financial systems continue to meet the challenge? 2. Are fundamental changes ahead for GAAP reporting? 3. Is it time for mutual companies to provide more meaningful financial information? 4. Can current regulatory reporting meet the needs of the 21st century? 5. Can separate statutory and GAAP systems continue to coexist? 6. Will the United States regulatory environment reduce our global competitiveness? 7. Variance analysis - Why your predictions were wrong - Which variances are acts of God? - Which variances should be blamed on somebody? - How to deal with interest rate fluctuations 8. Market valuation, why? - What questions are being addressed with market valuation

Description: Illustrates the effects that proposed GAAP changes will have on earnings emergence of universal life contracts.

Description: This article addresses a specific PGAAP issue companies have faced recently in implementing PGAAP, specifically, whether it is appropriate, under current purchase accounting guidance, to defer heaped renewal commissions. From Society of Actuaries Financial Reporting Monograph, M-AS99-1.

Description: Continued look at unlocking of traditional contract valuation assumptions, this time examining the frequency of true up for actual experience.

Description: This panel discussion was from one of the 1982 spring meetings of the Society of Actuaries. The discussion concerned accounting for pensions and other post-employment benefits. The panel considered the following issues: 1. Disclosure 2. Multi-Employer Plans 3. Plans Funded With Insurance Contracts 4. Plans Likely to be Terminated 5. Treatment of Other Post-Retirement Benefits

Description: This panel discussion, which occurred at the May 1982 Society of Actuaries meeting in Colorado Springs, led a discussion related to employer's accounting for pensions and other post-employment benefits. Topics included: 1. Present accounting rules and background in connection with pension plans 2. The purposes for pension accounting rules in general 3. The nature of pension arrangements and the implication of their character for: a. Corporate liabilities and net worth h. Periodic charges to corporate income on account of pensions 4. Effect of actuarial gains and losses and the relationship of non-penslon post-retirement benefits to pensions, from an accounting viewpoint

Description: Discussion of how meaningful GAAP ROE is as a measurement of management performance or how well management has deployed capital over a reporting period.

Description: This paper examines several methods for dynamically adjusting expense assets to reflect differences between actual and expected persistency. Discussions of the paper are included.

Description: Formulas for changes in GAAP liabilities and liability accrual rates are shown for three assumption update methods—retrospective, prospective and immediate.