Description: This paper provides a summary of the following special reports from the Transactions of Society of Actuaries 1974, Vol. 27: 1. REPORT OF THE HISTORIAN - 1974 and 1975. 2. REPORT ON ACTUARIAL PRINCIPLES AND PRACTICAL PROBLEMS WITH REGARD TO NONFORFEITURE REQUIREMENTS.

Description: A. Discusssion of the practical considerations involved in deciding whether or not to adopt projected mortality rates in connection with individual annuities, settlement options, retirement income policies, and the various forms of group annuities. B. In view of increased administrative expenses, discussion of the arguments for and against imposing limitations on the granting of settlement options with respect to size of policy, including the practicality of providing for the expense of administering supplementary contracts other than through the use of conservative mortality and interest assumptions.