Description: Healthcare costs have been rising faster than general inflation for many years. Early models that predicted this past pattern projected healthcare expenditure growth that continued to outpace total expenditure growth leading to the fallacious position that the whole of the US economy would ultimately be consumed by healthcare. The Society of Actuaries' Pension Section and Health Section Research teams commissioned Professor Thomas E. Getzen of Temple University to construct a resource model for the projection of long term healthcare cost trends that includes capacity constraints to ensure the long-term projection is rational. The motivation for creation of the model was driven by its potential usage as a resource for the estimation of reportable liabilities for retiree healthcare benefits as specified under FAS 106 and GASB 45 accounting statements. This is a zip file containing the following: 1. A background paper on the creation of the health trend model, 2. The model, programmed in Microsoft Excel [xls format], that projects per-person expenditures and growth rates through 2099 using baseline assumptions, but also permits the flexibility for user–inputted alternative assumptions, and 3. Technical documentation providing transparency and support for the ultimate results.

Description: Discussing human resource, computing resources, and process issues to consider when implementing Principle Based Reserves (or VM20)

Description: The authors explore major points of the exposure draft (ED) of the Financial Accounting Standards Board (FASB). At the same time, they explain the differences between the FASB ED and the ED published nearly simultaneously by the International Accounting Standards Board (IASB).

Description: This session from the 1995 SOA New York City Meeting discusses Financial Accounting Standard FAS 115, a company's FLUX score and how it is calculated, the valuation actuary, how to manage off-balance-sheet assets, and how to manage risk-based capital RBC. From the Record of the Society of Actuaries, Vol. 21, No. 2.

Description: After providing some preliminary Investment Section information, panelists discuss FASB issues – primarily, the derivatives-in-hedging project. From the 1997 Record of Society of Actuaries, Vol. 23, No. 3.

Description: A continuation of the discussion of the practical considerations for implementing the New Accounting Statement of Position for Long-Duration Contracts and for Separate Accounts – Part III

Description: Discusses the top concerns of U.S. insurers regarding the recent IASB Exposure Draft entitled Insurance Contracts and the FASB Exposure Draft entitled Preliminary Views on Insurance Contracts.

Description: This article reviews the developments with the Financial Accounting Standards Board, FASB, and the International Accounting Standards Board, IASB, in the third quarter of 2011. Issues discussed include disclosures and risk adjustment for reserves and insurance liabilities including objective and confidence level disclosure and techniques and inputs.

Description: The author discusses recent developments regarding insurance contract issues with the Financial Accounting Standards Board and the International Accounting Standards Board, and affirms that actuarial input on standards is necessary and valuable.

Description: Feature article discussing the latest actions of the International Accounting Standards Board (IASB) and the Financial Accounting Standards Board (FASB).