Description: These discussions at the 1967 New York and New Orleans Regional Meetings are about considerations in choosing interest assumptions and challenges presented when comparing investment yields among companies.

Description: Discussant comments by Ryan Labs Asset Management on paper “Actuarial Methods and Public Pension Funding Objective: An Empirical Examination,” by Norman L. Jones and Brian B. Murphy and Paul Zorn

Description: Article provides an excellent summary of the importance of mathematics, computer models for determining the future for human-based financial security models, and the importance of recognizing how human behavior effects the financial security program.

Description: Study of the impact of IRS proposed mortality tables on private sector pension plan costs, including liabilities, contributions and PBGC premiums.

Description: The standard for measuring retirement income adequacy has been the final earnings replacement rate (usually targeted at 70%). But - does it work?

Description: This article discusses some of the ideas of pension finance, how to present such information, and how it was presented to the New York City Retirement Systems (NYCRS) in a way that made it available to other interested parties, including the public.

Description: This session is about the philosophy and implications of investment income allocation for individual and group products, bases available for subdivision of investment income by line and within lines of business, applicability of new money rates to individual and group products, and regulatory restraints.

Description: This paper deals with the selection of appropriate interest and inflation assumptions, which is one of the most important considerations in the valuation of a defined benefit pension plan. The paper begins by describing a simplified model in which the only important consideration is the selection of an appropriate differential between interest and inflation assumptions. The discussion then considers some situations that might lead the actuary to attempt to select a realistic level of interest and inflation assumptions, in addition to an appropriate differential. The author's conclusion is that in some situations the absolute level of the interest and inflation assumptions can be all but meaningless, and the differential between the two assumptions is the important factor. In other situations the use of this technique will produce serious inaccuracies in the valuation results. As always, the actuary must analyze each situation in order to determine which of the available techniques will produce the best results with the least effort, given the degree of accuracy required. From Transactions of Society of Actuaries 1976, Vol. 28.

Description: This general session discussion looks at: A. Methods available to decide the percentage of the premium that should be used for life insurance, weekly indemnity benefits, hospitalization and surgical benefits. B. Formulas devised for computing contingency reserves for possible losses on mortgage loans and real estate. C. Extent to which companies are using participating forms for the following coverages: 1. Annuities in the benefit stages and/or supplementary contracts involving life contingencies after expiry of the term certain period 2. Family income and other decreasing term rider benefits 3. Extended term insurance D. Methods developed for pricing annuities and settlement options derived from an annuity table without provision for mortality improvement