Description: This is the second in a series of articles about accounting for reinsurance under GAAP Targeted Improvements to the Accounting for Long-Duration Contracts (LDTI). It looks at GAAP, as amended by LDTI, as if there were no precedent, specifically focused on products that require net premium reserves. With possible objectives for compliance, performance, and simplicity, it describes calculation techniques that could achieve all three objectives for a variety of long-duration reinsurance contracts.

Description: The article discusses the use of the keyword strategy in teaching. The literature with a negative view of keywords is reviewed and responded to by advocating keywords with multiple meanings supplemented with relevant instructional guidance. Numerous examples are presented from the SOA preliminary exams. Additionally, advanced use of keywords to problems not having them are presented.

Description: Read the Quo Vadis Reinsurance.

Description: The August/September 2014 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: The June/July 2014 edition of The Actuary magazine—the Society of Actuaries’ flagship publication.

Description: Andy Rallis delivers his speech at the presidential luncheon of the SOA 2019 SOA Annual Meeting & Exhibit in Toronto.

Description: The widening gap in life span between high- and low-income Americans may be eroding the progressivity of Social Security retirement benefits. Differential longevity trends have had the effect of raising lifetime benefits for high earners but not for low earners. Social Security’s long-term financial problems result in part from an increase in average life expectancy driven by wealthier people living longer, and, thereby, collecting more benefits. Policymakers should not use funding shortfalls attributable to these trends as an excuse to cut monthly benefits alike for those who have gained (high earners) and for those who haven’t (low earners).

Description: The SOA's Competency Framework for Actuaries is a tool to help actuaries make decisions related to their individual professional development and career management plans. It applies systematic, sound approaches to selecting professional development opportunities, focusing on the skills needed to go beyond technical and specific actuarial analysis. This is an Excel file that facilitates that process by providing a personal planning workbook.

Description: This article discusses new tax reporting requirements for transfers for value under section 6050Y. It also discusses changes to the transfer for value rule of section 101(a)(2) and (3), including the definition of a reportable policy sale.

Description: Read the January 2020 issue of International News published by the International Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.