Description: One of the most fundamental concepts in actuarial practice is the time value of money. For any work in which future cash flows are allowed for, such as reserving or pricing, it is natural to discount to present values so that an appropriate amount of money can be set aside today, allowing for future investment returns. This article discusses yield curve extrapolation methods along with the benefits and drawbacks of these methods.

Description: Situated at the intersection of psychology, neuroscience, sociology, and economics, behavioral economics (BE) centers on applying an honest understanding of human behavior to practical problems. This report is designed to provide general familiarity to the reader interested in the subject of BE and motivate additional research on the topic.

Description: Introduction to ILA Module.

Description: One of the most fundamental concepts in actuarial practice is the time value of money. For any work in which future cash flows are allowed for, such as reserving or pricing, it is natural to discount to present values so that an appropriate amount of money can be set aside today, allowing for future investment returns. This article discusses yield curve extrapolation methods along with the benefits and drawbacks of these methods.

Description: Situated at the intersection of psychology, neuroscience, sociology, and economics, behavioral economics (BE) centers on applying an honest understanding of human behavior to practical problems. This report is designed to provide general familiarity to the reader interested in the subject of BE and motivate additional research on the topic.

Description: This article summarizes the treatment of changes in the basis for determining life insurance tax reserves under prior law and describes the changes enacted by the Tax Cuts and Jobs Act. It further explains the procedures for changing the basis of computing reserves under the new rules as outlined in Revenue Procedure 2019-10, the IRS’s December 2018 guidance on the subject, and discusses the uncertainties that remain.