Description: This article from The Actuary, April 1971, volume 5, Issue 4 talks about an exposure draft. The Exposure Draft of the American Institute of Certified Public Accountants on Audits of Life Insurance Companies has not apparently had among actuaries the wide circulation it deserves, judging by the relatively few responses to Robert Winters letter in the February issue of The Actuary. This is a most important document because it affects not only the accounting practices of life insurance companies but also the status of the actuarial profession.

Description: The Employee Retiree Income Security Act, or ERISA, establishes an important statutory role for pension actuaries in the United States. As part of its statutory goal to protect the retirement security of America’s workers, ERISA requires tax-qualified defined benefit plans to obtain an actuarial valuation of plan reserves each year. When valuing the plan’s reserves, the actuary is required by ERISA to act on behalf of plan participants. Thus, the plan actuary fulfills an important role in maintaining the plan’s ability to meet its on-going obligations to the plan participants and their beneficiaries. From Pension Section News, April 2006, Issue No. 61.

Description: Editorial on the importance of the Actuarial Standards Board ASB to the profession. 'The ASB keeps the profession on track by establishing standards of practice that allow actuaries to act professionally, with integrity, and in the public's interest. Standards give the profession one set of rules and present a unified front to the public.' From The Actuary, September 1994, Volume 28, No. 7.

Description: This article was presented at the 1975 Spring Cincinnati Joint Meeting of the Conference of Actuaries in Public Practice and Society of Actuaries and discussed of the Exposure Draft Recommendations of the Academy Committee on Actuarial Principles and Practices in Connection with Pension Plans and the best estimate requirements of ERISA.

Description: Thank you to the contributors and those who helped. Brief description of the articles in the issue.

Description: Professional and regulatory considerations in long term care insurance pricing and product features, including items from ASOP No. 18. From Long Term Care Newsletter, September 1999, Issue No. 1.

Description: This article discusses the charge of a joint committee of the SOA and American Academy of Actuaries to define the role of the valuation actuary in the U.S.A.

Description: A dicussion of the Rate Classification Actuarial Standard of Practice, ASOP #12: its purpose, its scope, guidance, and examples.

Description: This session from the 1984 SOA New York Meeting covers future trends in the regulation of life insurance company valuation with an accompanying discussion note, the responsibility of the valuation actuary, the actuarial opinon and the SOA and AAA support of the valuation actuary. From Record of the Society of Actuaries Vol. 10, No. 3

Description: Panelists discuss the latest trends in long-term-care product design and pricing issues. Topics include ASOP 18, combination disability products, morbidity & lapse assumptions, state regulations and underwriting. From the Record of the Society of Actuaries, Vol. 25, No. 2.