Description: Schaumburg, IL, May 31, 2022 – The Society of Actuaries (SOA) proudly welcomes the first actuarial candidates to receive a Micro-credential on their way to becoming an Associate of the Society of Actuaries (ASA). This marks an important milestone for the candidates and the future of our organization.

Description: This report examines the impact of the COVID-19 pandemic on mental illness and the impact of mental illness on mortality and longevity in the U.S.

Description: The Society of Actuaries Research Institute is pleased to make available a report that aims to understand the cause of low annuity demand through the angle of mortality model uncertainty.

Description: LIMRA, Reinsurance Group of America (RGA), the Society of Actuaries (SOA) Research Institute, and TAI have collaborated on an ongoing effort to analyze the impact of COVID-19 on the individual life insurance industry’s mortality experience and share the emerging results with the insurance industry and the public.

Description: Studying for the Fundamentals of Actuarial Mathematics (FAM) Exam includes reviewing the syllabus and other supplemental materials.

Description: 2023 Generally Recognized Expense Table (GRET) recommendations.

Description: This web page summarizes the research project entitled 'The Effect of Deflation or High Inflation on the Insurance Industry.' The project is comprised of report of the same name, Excel spreadsheets that stochastically model the effects of inflation and deflation, and a users guide for the spreadsheets, all of which can be accessed from this web page.

Description: The Society of Actuaries’ Retirement 20/20 project kicked off in 2006 with a conference titled “Building the Foundations for New Retirement Systems.” The conference focused on needs, risks and roles for the stakeholders in today’s retirement system, and discussed how to make social insurance, private pensions, private savings, annuities and other retirement plans work better in the 21st century. One key theme that emerged was that wherever possible, systems should be designed to self-adjust, specifically to correct for changes in economic and demographic conditions. The Pension Section Council of the SOA commissioned this paper to explore where self-adjusting systems are in place today and what they do and don’t do. Most self-adjusting mechanisms that exist today are in social insurance systems, and they often focus on ways to adjust for changes in longevity. The Pension Section Council hopes that this paper will spur researchers to develop more ways that self-adjusting mechanisms might work to shape social insurance and private retirement plans into the 21st century.

Description: This web page, provided by the Society of Actuaries Pension Section Research Committee, contains links to a 2004 introductory report and a full report regarding the impact of mortality projection scales on defined benefit pension plan valuations. The study that led to these reports was initiated to provide quantitative information illustrating the impact of reflecting mortality improvement using a 'Generational Approach' in actuarial valuations of defined benefit pension plans versus traditional methods. The full report was written by David Kays of ACUFF Associates. Accompanying the full report is an introductory report authored by Marilyn Oliver, who chaired the Project Oversight Group for this effort. The introductory report provides an overview on the work and summarizes the issues explored in the full report. It is suggested that the reader review the introductory report first for an overall perspective on the extensive details found in the full report.

Description: This web site provides an introduction to the 2007 and 2008 surveys regarding policyholder behavior in the tail. The purpose of the surveys is to gather the range of assumptions actuaries use in pricing, reserving, and risk management of minimum guarantees on Variable Annuity products, such as death benefits, income benefits, withdrawal benefits and maturity benefits. A link is provided to the report which is entitled 'Policyholder Behavior in the Tail Risk Management Section Working Group Variable Annuity Guaranteed Benefits 2007 & 2008 Survey Results.'