Description: Report on the second in a series of studies conducted jointly by LIMRA International and the SOA Long-Term Care Experience Committee. The study examines longterm care insurance LTCI industry persistency experience by reporting on changes in both voluntary lapse and total termination activity for all participating companies during calendar years 2002 through 2004. Overall, the results indicate that LTCI persistency continues to increase. However, recent increases have occurred on the group side of the business more than the individual side.

Description: Report on the first study conducted jointly by LIMRA International and the SOA Long Term Care Experience Committee. The study examines voluntary lapse and total termination activity in LTCI for calendar years 2000 and 2001. Overall, the results indicate that LTCI persistency has continued to improve however, the current improvement seems to be coming from the individual lines of business rather than the group lines.

Description: Article discussing an alternative method to calculate the PBA deterministic reserve called the “Direct Iteration” method.

Description: 1993 SOA Spring Meeting, San Diego. This session discussed the proposed standards for determining the economic assumptions for the purposes of measuring pension obligations. The actuary's determination of the interest rate assumption was the primary focus of the discussion.

Description: The primary purpose of this paper is to set forth one method of evaluating vested pension costs and to suggest a simple way for the actuary to make provision in his pension cost calculations for specific vesting schedules. From Transactions of Society of Actuaries 1966, Vol. 18, Pt. 1, No. 52.

Description: Study note for EA,2A exam, presents the factors to consider in setting demographic and economic assumptions used in measuring pension obligations. While its primary focus is on the general process of setting such actuarial assumptions, it also covers some of the specifics of assumption-setting relevant to the actuarial valuations used for pension funding in the United States.

Description: Brief description of articles contained in the newsletter.

Description: Exploration of sources of volatility in retiree health valuations, noting how volatility arises and might be mitigated, with discussion of valuation parameters more problematic for retiree health benefits than for pensions. Three significant influences on retiree health valuation volatility are covered-- changes in benefit level, fluctuations in cost level, and alterations in eligibility for, or duration of, benefit – and attention focused on the last two. Specific conclusions result in recommendations, which are supported by practical examples contrasting volatile measurement results with those likely from the recommended practices. Theoretical discussion includes health claim variation, health trend usage, financial economics, option pricing, discount rates, and deterministic vs. stochastic modeling.

Description: This meeting session, which occurred at the April 1982 Society of Actuaries meeting in Orlando, presented a panel discussion that focused on retirement age issues, trends and assumptions related to pension plans. Also a discussion of factors that affect early retirement elections

Description: This project aims to understand pension participants’ investment and withdrawal behaviors and provide guidance in pension plan design, using data from China