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.

Description: This session is about the Report on Actuarial Principles and Practical Problems with Regard to Nonforfeiture Requirements but it also includes a summary of written responses to the Report, developments on the regulatory scene, and recent work of other committees studying nonforfeiture or related areas. From the 1976 Record, Vol. 2, No. 3.