Description: This paper is designed to be a single reference source for an actuary who wants to increase his or her understanding of a Guaranteed Investment Contract 'GIC', its risks, and how to control them. The paper emphasizes the practical difficulties of matching asset and liability cash flows and discusses in detail how the sponsor and/or participants of the plan being funded by the GIC can antiselect against the insurance company. It also discusses how the actuary should go about pricing and reserving for GICs. From Transactions of Society of Actuaries 1984, Vol. 36.

Description: This paper examines the risks involved with equity investing for pension funds. From Transactions of Society of Actuaries 1959, Vol. 11, No. 31.

Description: Many pension funds have recently established dedicated or 'matched' portfolios. These are portfolios of fixed-income securities whose cash flows from interest and maturities match the expected benefit payment stream on a block of liabilities. With particular reference to ERISA, this paper explores the actuarial mechanics of pension funding under dedication, including the selection of assumptions, the valuing of assets, funding of the initial change in unfunded liability, and funding of subsequent gains and losses. From Transactions of Society of Actuaries 1983, Vol. 35.

Description: This session dealt with pension fund investments with respect to the following discussion topics: A. In May, 1962, there was a drastic fall in stock prices. What effect, if any, did this have on a objectives as to the proportion of pension funds invested in equities and b methods of valuing equity pension assets for pension- fund valuation purposes? B. Where pension funds are invested in a pooled or commingled account what special problems are encountered in asset valuation for pension-fund valuation purposes as distinguished from investments held in an individual separate account or trust?

Description: This discussion looks at developments which may be expected from the introduction of proposed Canadian legislation which would permit life insurance companies to operate special investment accounts for pension plans. The panel also reviews problems encountered in implementing legislation of this type in the U.S. and other recent developments expected to affect the relative competitive position of insured and trusteed plans. From Transactions of Society of Actuaries 1961, Vol. 13, Pt. 2.