Description: These are the Discussant Comments by Joseph Lu for the Management of Longevity Risk Session 1A of the January 13-15, 2020 Living to 100 Symposium in Orlando, Florida.

Description: This article intends to provide some background on how and when the state variation issues came about, why these issues present a challenge to the valuation actuary, what seems to be the current practice in dealing with these challenges, and how these issues can be addressed more effectively and efficiently in the future. From Society of Actuaries Financial Reporting Monograph, M-AS99-1.