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

Description: Social Security provides financial protection by annuitizing retirement. This is not enough for many. My idea creates an additional annuity via Social Security.

Description: This paper introduces basic embedded value EV principles, concepts and formulas that will be especially valuable to the beginning students of EV.

Description: Discusses the necessity and the difficulty to take management actions into account in ORSA (Own Risk and Solvency Assessment). If management actions were ignored, multi-period scenarios could be too artificial. On the other hand, it is of course very hard to predict management actions. We propose a certain number of characteristics that the ORSA should feature. Part of the essay collection "Risk Metrics for Decision Making and ORSA"

Description: In order for actuaries to play a valuable role in the realm of enterprise risk management ERM, they must provide value-added advice and quantitative analyses. In this paper, the authors use stochastic simulation technology to present a risk metric for defined benefit pension plans that provides improved measures of the plan’s solvency and provides a tool for pension plan managers to determine the value of risk mitigation activities.

Description: This paper advocates asset/liability management for pension plans. It identifies the economic factors that influence the economic value of liabilities and discusses the typical asset portfolio that results.

Description: Explains that the conflict of two forces – a need for economic growth in a world that can no longer provide growing oil supply – sets the financial system up for a systemic risk of collapse.

Description: U.K. life insurers writing participating business have, since the end of 2004, been required by their regulator, the Financial Services Authority FSA, to value their assets and liabilities on a market-consistent basis. The purpose of this paper is to explain the new valuation approach based on market-consistent values and its rationale set out the issues faced by life insurers in implementing the new regime and explain how these issues have been addressed by insurers.

Description: The purpose of this paper is to outline the development of a critical illness rider to be launched on a guaranteed level term product. The paper addresses the following topics: market needs analysis, design considerations, benefit design, pricing assumption, and development of pricing model and pricing results, including sensitivity testing.