Description: The paper presents arguments to show that a fully funded social security scheme is no more secure economically than a pay as you go scheme....that is, for real retirement income security the funding mechanism is irrelevant. From Actuarial Research Clearing House, January 1996, VOL. 1.

Description: This 1998 presentation from the 33rd Actuarial Research Conference reports on a number of activities related to the relationship between the actuarial profession and the academic community, including: 1. feedback received during the related session at last year's Actuarial Research Conference, 2. some the results from the SOA Research Effectiveness Task Force survey, and 3. recent developments such as the joint CAS, CIA, SOA Task Force on Academic Relations.

Description: This paper solves the pension benefit allocation problem using an extremely simple accounting approach. It presents a simple accounting argument, which says that the cost for like units of production should increase at the rate of inflation. If we assume that the appropriate units of production for an employee are inflation-adjusted salary, this rationale leads to projected unit credit with the benefit apportioned by interest-adjusted salary [PUCIAS] as the appropriate funding method for pensions. This same rationale can be extended to post-service medical care funding. For post-service medical care, however, the rationale does not lead to PUCIAS, since the rates of inflation for medical care and salary do not cancel. There is also a question whether inflation-adjusted salary should be used as the units of production for post-service medical care. When it is, it is still important avoid aggregating groups with different salary and promotion patterns. When it is not, the widget accounting arguments still hold as far unit costs increasing with the rate of medical care inflation.

Description: PowerPoint slides from Adam's presentation on the tri-model model of Canadian inflation. The cost of indexation protection is reviewed.

Description: This paper is a report on research for undergraduate experience grants held for 8 weeks under the direction of Cecil Nesbitt. The topic of the research was Social Security Financing and Related Matters. From Actuarial Research Clearing House 1993, VOL. 1.

Description: This paper is about the looming pension crisis in Canada. Falling pension coverage, poor quality of coverage, and the shift from defined benefit plans to defined contribution plans suggest that there will still be a strong dependency on Government, but government programs are also in a weak position largely due to the well documented phenomenon of an aging population. From Actuarial Research Clearing House 1993, Vol. 3.

Description: This is a presentation of the restructuring of the SoA Research Department. From the Actuarial Research Clearing House 1995 VOL. 1.

Description: This study examines the relationship between the administrator of a pension plan [the principal] and the actuary [the agent]. The objective is to design a contract for both the plan administrator and the actuary so that the actuary provides the appropriate level of information to the plan administrator. The study uses a simple model- one principal [the pension fund administrator] and one agent [the actuary] in a one-period model. In standard principal-agent models, working harder means higher productive output. In this model, it means more accurate information. From Actuarial Research Clearing House 1999 Vol. 1.

Description: A serious problem facing the actuary when his or her company converts to on line transactions processing is that of how to minimize human errors. This paper explains how the availability of the various reserve and cash value factor files in an on line environment permit better checking than has been possible in the past.

Description: This paper analyzes climate change's impact on corn yield and insurance claims in Southern Minnesota through an analysis of how temperature and precipitation are expected to change over the next 30 years.