Description: A study on modeling for retirement policy analysis. This initial chapter describes the scope of the project with detail on the variety of modeling approaches reviewed.

Description: Chapter 5 of the Models for Retirement Policy Analysis. This chapter describes CORSIM, the Cornell Microsimulation Model, which is a large dynamic microsimulation model developed and maintained at Cornell University. CORSIM is a large-scale dynamic microsimulation model. It simulates the basic demographic and socioeconomic events that characterize the socioeconomic conditions of the population. Strengths and limitations of the approach are addressed as well as accessibilty and ease of use.

Description: 1999 Valuation Actuary Symposium, Los Angeles. This session discussed issues of particular interest to valuation actuaries in smaller insurance companies. Topics included: 1. Regulation XXX. 2. Actuarial Guidelines 33 and 34. 3. Illustration actuary. 4. Current regulatory proposals. 5. Proposed new Section 7 requirements. 6. C-3 RBC Based on Cash-Flow Testing. 7. Use of outside consultants.

Description: This paper points out errors in the Graetz Prepayment Analysis used to determine tax liability for mutual companies. Those errors result in an understatement of the tax burden borne by mutual life insurance companies. The Graetz prepayment analysis was advanced as a justification for repealing Section 809 of the Internal Revenue Code. Correcting the errors in the Graetz prepayment analysis strengthens the argument for repeal.

Description: 1992 SOA Annual Meeting, Washington, D.C. This session on Long Term Care Insurance addressed the following topics: 1. Highlights of research that HIAA has completed on long-term care. 2. Regulatory developments of long-term care such as state legislation on nonforfeiture. 3. Congressional activity and tax policy. 4. Research on the affordability of various long-term-care products and nonforfeiture options.

Description: This article reviews the topics discussed at the December 2004 meeting of the Life and Health Actuarial task force. The covered topics include Actuarial Guideline 38 and Reserves for Variable Annuities C-3 Phase 2 reserves.

Description: This literature guide provides a basic grounding in policyholder dividends and other nonguaranteed elements in individual life insurance and annuities in Canada and the U.S. Participating insurance is most often offered by mutuals in the U.S. and by both mutual and stock companies in Canada.

Description: 2003 Valuation Actuary Symposium, San Diego, CA. This session provided an update on the current status of the actuarial guidelines on VA death and living benefits, the Academy's work on a non-formulaic, RBC standard and GAAP developments.

Description: 2003 Valuation Actuary Symposium, San Diego, CA. This panel discussion provided an overview of the current risk-based capital RBC requirements for life insurers as well as insight into topical issues and potential changes to RBC. Discussion topics included: 1. Recap of RBC law and RBC calculation rules. 2. Modeling potential impact of alternative actions. 3. The tax impact of the factors. 4. Stochastic capital requirements for variable products. 5. The role of reinsurance and offshore solutions.

Description: U.K. life insurers writing participating business are required by the Financial Services Authority to value their assets and liabilities on a market-consistent basis. The purpose of this paper is to: • Explain the valuation approach based on market-consistent values and its rationale. • Set out the issues faced by life insurers in implementing the regime. • Explain how insurers addressed these issues. • Explain the importance of the modeling techniques they used.