Description: Reviews basic desirable features in an economic scenario generator. Discusses basics of model structure and validation process

Description: The author encourages the use of sound actuarial principles to develop reasonable retirement spending budgets instead of rule of thumb approaches commonly used.

Description: This session discussion is about tools, techniques, and methods used by the health valuation actuary HVA in dealing with business projections, cash-flow analysis, valuation on nonguaranteed premium business, target surplus analysis, reinsurance and claim reserves. From Record of Society of Actuaries Vol. 18, No. 1A.

Description: Social security systems around the world have suffered from inadequate funding, leading to current or potential deficits and ultimate insolvency. This article discusses that this problem is a direct actuarial consequence of the inadequate funding that created the problem in the first place. It is simply an open group valuation problem.

Description: A discussion of the possible effort required and impacts resulting from the implementation of C3 Phase II for establishing risk-based capital for variable annuities. This article will describe practical considerations gleaned from actual valuation calculations recently performed by a consulting firm.

Description: Argues public plans should only hold bonds, on the basis of tax and finance arguments.

Description: This article discusses the current state of the IAIS' initiative on their group Insurance Capital Standard.

Description: Panelists discuss the process and challenges presented by mergers or acquisitions. From the Record of the Society of Actuaries, Vol. 24, No. 2.

Description: New Zealand is about to launch its first variable annuity with guaranteed lifetime withdrawal benefits. The product design is mindful of the lessons from the financial crisis in the United States, Europe and Japan.

Description: Under non-Aristotelian logic, there are multiple values, or shades of gray. Indeed, there may even be unexpected results from logical combinations, like “both” and “neither.” This article discusses how this insight should be applied to the current debate between formula-driven reserves with limited assumption flexibility and the reserve principles approach. For reserve standards, we do need both actuarial judgment grounded in reserving principles and restrictive formula methods or safe harbors.