Description: This article is a book review of “Two Stochastic Processes,” by John A. Beekman. The author of this article notes that the two stochastic processes referred to in the book are the Gaussian Markov and the collective risk stochastic processes, and that both the theory and applications are examined. Note: a more detailed review of this book will appear in the Transactions.

Description: This article is a review of the book “Public Employee Pension Funds,” by Robert Tilove, published in 1976 by Columbia University Press. The book concentrates on the major public policy issues affecting plans of state and local governments. A more detailed review of this book will be published in the “Transactions.”

Description: Arthur Pedoe Obituary: Summary of many essays Mr. Pedoe published on a variety of topics dealing with the actuarial profession

Description: This 1977 article discusses demographic trends and the projected downward trend in mortality for the next 25 years in the United States, and its implications for social insurance programs. In particular the author identifies potential problems with the current structure of Social Security, and offers alternative suggestions for improving its financial soundness.

Description: The SOA is shining a spotlight on its research activities as it migrates into the areas of public policy and other relevant topics.

Description: This article describes the SOA's Risk Adjustment Research project, in the context of health care reform, and the preliminary data analysis that has been completed by the Research Task Force.

Description: The Phase 3 tax is the description given to the federal income tax imputable to amounts withdrawn from the Policyholders Surplus Account maintained under the federal income tax law. This article discusses certain facets of the federal income Phase 3 tax as it relates to these withdrawals. Still significant for a large health insurer that has been in existence since before 1984 should health care become nationalized.

Description: The article explores how deeply the Affordable Care Act reduced the Medicare Advantage benchmark payment rates and quantifies how much of that reduction Medicare Advantage Organizations earned back through quality bonuses.

Description: Social security systems around the world have suffered from inadequate funding, leading to current or potential deficits and ultimate insolvency. This article discusses that this problem is a direct actuarial consequence of the inadequate funding that created the problem in the first place. It is simply an open group valuation problem.

Description: The article explores ways that legislative policy options that focus on both trust fund solvency and benefit adequacy may be implemented to bring about Social Security solvency and sustainability.