Description: This session from the 1984 SOA Salt Lake City Meeting discusses how investment policies and strategies for pension funds are often developed independently of liability considerations. This session looks at the probable mismatch of asset and liability cash flows, the extent of problem, the actuarial concern with certification of assets and structuring the fund to recognize the relationship between assets and liabilities.

Description: Digests of following discussions: 1. Mutual life insurance companies - their objectives and operating philosophy 2. State, provincial, and municipal employee pension plans - financing and other problems 3. Mortality and underwriting of individual policies for large amounts 4. Investing during the 1970's 5. Long-range viability and regulation of corporate pension plans 6. Forecasting the environment for business 7. Liabilities and surplus in the 1970's 8. Changing modes of family life - work and income over the life cycle 9. The role of the actuary in collective bargaining 10. Health insurance in the United States 11. Adjusted earnings