Description: LOMA has published two additional reports on EDP Software and Services. Reports Nos. 14 and 15 in this series were reviewed in The Actuary of September 1972

Description: This article explains how to create more maintainable models using abstractions by relating it to option, machine learning and machine intelligence models.

Description: With the decline in traditional defined benefit plans, cutbacks in Social Security already legislated, and further ones possibly needed to maintain solvency, retirees increasingly must rely on their own ability to manage their retirement income. Relatively few retirees purchase annuities, leaving them with investment and distribution decisions concerning their accumulated savings. Increasing life expectancy and improved health at older ages raise the issue of whether people should consider postponing retirement as a way of assuring adequate resources during retirement. During retirement, they face complex issues concerning how to manage various risks. Increasingly, people planning for retirement have access to financial planning software, much of it available over the internet for free. This study, sponsored by the Society of Actuaries and the Actuarial Foundation, assesses the extent to which the retirement planning programs analyzed help users understand post-retirement risks.

Description: This is a short story on the retirement income calculator.

Description: This program allows the user to explore in great detail a technical problem that has occupied a number of investors, financial writers and especially retirees, during the last few years, as the baby boomers start to approach retirement. Namely, what is the probability that one will run out of money before running out of life, if his or her current standard of living is maintained? This is a zip file which includes the Retirement Probability Analyzer software, an instruction manual and a PowerPoint presentation explaining the program.

Description: Overview of the session “Analytics You Should Know, but Don’t” which took place at the 2007 SOA Annual Meeting in which R, an open source language for statistical computing, was discussed.

Description: Discusses preparations needed, and risks of not preparing, for the Year 2000.