Description: Three papers use sophisticated actuarial methods to develop a straightforward retirement income strategy that can be implemented in virtually any IRA or 401(k).

Description: Discusses interaction of phased retirement options and public policy, barriers and challenges, and provides a number of suggestions for improving public policy.

Description: Response to Life Insurance 2020 Foresight – A Call for Essays. An essay stating the author’s vision for the future of the life insurance sector.

Description: Three papers use sophisticated actuarial methods to develop a straightforward retirement income strategy that can be implemented in virtually any IRA or 401(k).

Description: 2 public plans improve intergenerational equity & sustainability: DC plan, active employees & lifetime benefit, retirees. 2 tools measure effectiveness.

Description: This paper is Part 1 of a two-part submission. Part 2, “An Alternative Approach to Capital Allocation,” discusses using risk-replicating techniques that directly calculate the cost of capital. Such techniques can be used as a substitute for capital allocation. This paper expands upon current capital analysis by introducing a practical approach that considers the objectives of all stakeholders of an insurance company in setting appropriate capital targets.

Description: Analysis of the South Dakota public plans improving sustainability: a hybrid DB plan: statutory contributions, benefit flexibility, statutory funding thresholds

Description: This paper provides guidance to employers who are contemplating the use of COLI as a means for funding employee benefits. Commentary will be provided on critical issues to consider when analyzing the benefits of COLI, including product characteristics, cost considerations, legal considerations, representations and warranties, investments, and accounting. “Best Practices” pricing guarantees, representations, warranties, and indemnities will be provided as examples and are generally indicative of the stronger positions taken to date on each issue. This paper does not provide guidance on group term life or other non-COLI products.

Description: Insurance company financial reporting and performance measurement are going through a significant transformation. Insurers are beginning to look at their business based on what many refer to as the “economic value framework.” Under this framework insurance companies determine the economic value of the capital invested in their business and the economic value of earnings to derive a risk-adjusted return on capital. Standard setters, primarily European insurance regulators through Solvency II and the International Accounting Standards Board through IFRS Phase II, propose adopting many of these concepts for solvency and performance reporting.

Description: Analysis of recent changes to Maine public pension plans, including risk sharing provisions to reduce market risk and funding reform to improve sustainability.