Description: This actuarial memorandum represents the first, formal actuarial opinion regarding the reasonableness of the premium estimates the Clinton Administration presented with its proposed Health Security Act. The memorandum presents the assumptions and methods used to develop an average 1994 premium estimate for the standard benefit package.

Description: Presentation of proposals that are designed to further improve actuarial education by anticipating educational needs based on future change in the nature of actuarial work. The paper is divided into three sections: I. Current and Past Education of Actuaries II. Actuaries as Customers for Education and III. The Future Educational Needs of Actuaries and How These Needs Might Be Implemented. Followed by several submitted discussion papers.

Description: This paper examines the demographic effects of the aging 'baby boom' generation on the North American group insurance market in terms of projected growth rates for the labor force and for several related population-base quantities. From Transactions of Society of Actuaries 1983, Vol. 35.

Description: As carriers have learned over the last two decades, Long-Term Care insurance (LTCi) is a risky business. The intent of this paper is to illustrate how these risks can be better understood through modeling the liabilities using a Monte Carlo simulation approach.

Description: Public Law 93-445 provided for a complete restructuring of the railroad retirement system. This paper discusses 2 of the issues/problems underlying the need for the restructuring. These were 1 concurrent social security benefits paid to railroad annuitants 2 the approach used to increase benefits to keep up with inflation. Also a discussion of the basic achievement of the new law, which was to create a two-tiered benefit structure. Followed by 2 discussion papers submitted

Description: This report provides a thorough educational resource that can be used by health actuaries and others to help explain various types of provider payment and risk arrangements.

Description: This is a discussion of the paper, Actuarial Note: The Valuation of Self-Insured Retirement Plans by Joseph C. Noback. From Transactions of Society of Actuaries 1950, Vol. 2, No. 4.

Description: This web page contains a link to a research report that highlights the characteristics of combination plans that serve to reduce the risks to insurers issuing life or annuity products linked to long-term care insurance. Observations are provided to assist in the understanding of the factors that explain the profit change sensitivity results and the natural hedging against major risks that inherently is present within the linked products.

Description: The Federal Employees' Retirement System 'FERS', enacted into law on June 6, 1986, covers civilian employees of the U.S. Government who were hired after 1983. FERS supplements Social Security with a basic annuity plan and a thrift-savings plan. The Civil Service Retirement System 'CSRS' remains in effect for employees hired before 1984 who do not elect to transfer to FERS. Besides discussing the benefit changes, this paper covers the following related subjects of broader interest: 1. The federal legislative process, including the roles of interest groups, the Congress and the Administration, and the actuaries assisting them, 2. Investments in stocks and bonds by the new thrift plan, and why these use index funds, and 3. How FERS serves as a model for other large public retirement systems, using a defined contribution plan to help meet its retirement objectives and giving the private sector opportunities to provide benefit services. From Transactions of Society of Actuaries 1988, Vol. 40, Pt. 1.

Description: This report examines a series of megatrends that can impact the future of retirement and retirement plans, as well as the macro forces that will shape those trends.