Description: The widening gap in life span between high- and low-income Americans may be eroding the progressivity of Social Security retirement benefits. Differential longevity trends have had the effect of raising lifetime benefits for high earners but not for low earners. Social Security’s long-term financial problems result in part from an increase in average life expectancy driven by wealthier people living longer, and, thereby, collecting more benefits. Policymakers should not use funding shortfalls attributable to these trends as an excuse to cut monthly benefits alike for those who have gained (high earners) and for those who haven’t (low earners).

Description: Vision and objectives and projects for the International Section.

Description: Update from International Section chairperson.

Description: The SOA's Competency Framework for Actuaries is a tool to help actuaries make decisions related to their individual professional development and career management plans. It applies systematic, sound approaches to selecting professional development opportunities, focusing on the skills needed to go beyond technical and specific actuarial analysis. This is an Excel file that facilitates that process by providing a personal planning workbook.

Description: This article is about the need for actuaries and technical professionals to develop critical leadership and other soft skills, and highlights the ways the SOA Leadership & Development section provides tools to develop those skills.

Description: Book review of the latest edition (4th) of Life, Health, and Annuity Reinsurance by John Tiller, Jr and Denise Fagerberg Tiller

Description: This essay explores the role that the emerging defined contribution retirement system may be playing in the growth of wealth inequality in the United States. The current system leaves many Americans with little or no retirement savings. Those with higher accumulation levels appear to invest proportionally more in equities, which may have an exponential effect of balances over long time periods. The author hypothesizes that willingness to take investment risk involves the relationship between the amount an investor has accumulated and what she/he needs in order to cover basic costs of living. This is one reason that investors with greater accumulation levels may be able to earn higher rates of return. The essay concludes by suggesting that the U.S. defined contribution system should include all workers and provide additional fiduciary guidance. Examples reforms, both in the U.S. and other countries, are provided.

Description: Read the January 2020 issue of International News published by the International Section. Newsletters provide practical information for the working actuary, articles on trends that impact sections and news about section activities.

Description: Gearing up-- exploring the rewards for completing the SoA Competency Framework tools of Self-Assessment and Personal Development Plan.