Description: The Revenue Act of 1987 amended section 807d2B of the Internal Revenue Code. It established the interest rate used in the calculation of tax reserves to be the greater of the applicable federal interest rate or the prevailing maximum statutory valuation rate for the contract’s calendar year of issue. The amendment is effective for contracts issued in tax years beginning after December 31, 1987. This document shows all the applicable federal interest rates from 1998 - 2009.

Description: Presenters will explore how climate risks are measured scientifically, and in what ways the insurance and reinsurance industries can play a larger role in managing risk. In an accessible manner and assuming no scientific background from the audience, we will review and discuss the background of climate science, and the unique role that the insurance industry can play. Specifically, we will discuss outcomes from a recent interdisciplinary workshop, 'The Nexus of Climate Data, Insurance, and Adaptive Capacity,' held November 2018 at The Collider in Asheville, NC. The workshop facilitated a national, interdisciplinary scientific research discussion on modeling and managing climate change risks between three different, but related research communities: the climate modeling and data community, statisticians, and researchers within the insurance and reinsurance industries. Co-sponsors of the workshop include the Society of Actuaries (SOA), the Casualty Actuarial Society (CAS), the National Science Foundation (NSF) and the Statistics and Applied Mathematical Sciences Institute (SAMSI)

Description: Article from The Actuary, December 1986 – Volume No. 20, Issue No. 10 that talks about The Tax Reform Act of 1986.

Description: This article discusses the implications of a principle-based reserve PBR system with respect to federal income taxation of life insurance companies, particularly with respect to tax reserves and their deductibility for tax purposes. The article discusses potential problems with existing tax rules for reserve deduction, what courses of action the IRS could take, and suggestions for design features of a PBR approach that would make it more consistent with current tax rules. Life insurance product tax implications are also discussed.

Description: This article is an introduction to the principles of taxation of U.S. owned foreign insurance operations, such as controlled foreign corporations.

Description: The Required Minimum Distribution [RMD] Working Group of the SOA Taxation Section has completed research identifying considerations for actuaries and annuity insurers in determing the actuarial present value of additional benefits for computing the RMD under a deferred annuity contract. This is the Appendix I spreadsheet for determining the Actuarial Present Value of an annuitization bonus. Please see the SOA website research for the full report and other associated spreadsheets.

Description: Presented at May 1996 Spring Meeting. This session addresses potential changes in life insurance and annuity markets under alternative tax systems, that is, value-added tax 'VAT' or consumption taxes, and flat taxes and the impact of those changes.

Description: The Required Minimum Distribution [RMD] working group of the Taxation Section has completed research in determining the actuarial present value of additional benefits for computing RMD under deferred annuity contracts. This is Appendix H spreadsheet for persistency bonus calculations for this research project. Please see teh SOA website research section for the complete report and excel spreadsheets for other appendices.

Description: The Required Minimum Distribution RMD working group of the Taxation Section has completed research in determining the actuarial present value of additional benefits for computing RMD under deferred annuity contracts. This is Appendix G spreadsheet for the Determining the Actuarial Present Value of Certain Additional Benefits for a two tiered fixed annuity benefit Under Treas. Reg. Section 1.401a9–6, Q&A–12 research project. Please see the SOA website research section for the full report and other appendices spreadsheets.

Description: The Required Minimum Distribution RMD working group of the Taxation Section has completed research in determining the actuarial present value of additional benefits for computing RMD under deferrred annuity contracts. This is Appendix B Example 2 spreadsheet for GMDB for this research project. Please see the SOA website research section for the full report and excel spreadsheet for the other appendices.