Description: Discussion of how the weak equity environment has led to a growth in the sale of fixed annuities and fixed account allocations within variable annuities. Includes a description of typical product design features and changes in the nonforfeiture laws to accomodate the low interest rate environment.

Description: Retirees and their advisors should construct diversified portfolios of retirement income, allocating among various retirement income classes that include Social Security, annuities, and systematic withdrawals from invested assets. This essay discusses the pros and cons of various retirement income generators and the issues with constructing retirement income portfolios.

Description: Article that recaps a SPDA case study in the use of derivatives for ALM that was presented at the Orlando April spring meeting in Session 40, Are We Prepared for Interest Rates to Rise Again.

Description: Fixed Annuities—Product Design and Investment Considerations

Description: An update on the principle-based reserves (PBR) process and possible valuation manual adoption, with recommendations to actuaries on how to prepare.

Description: Structured-note annuities provide a retirement solution for the masses while allowing effective hedging and balance sheet usage for the insurance complex.

Description: In this article, a numerical comparison of two commonly used FIA valuation methodologies is conducted to help insurers decide on the best methodology to use under GAAP LDTI and VM-22. We compared two modeling approaches to project the future index credits with the annual point-to-point crediting formula: Tthe stochastic equity crediting model and the deterministic option budget crediting model. The analysis is then extended to different levels of option budgets and the monthly average crediting formula. The advantages and disadvantages of the two equity return projecting approaches are also highlighted and will be discussed later in the report.

Description: A discussion about how insurance companies weathered the storm of low interest rates in 2003.

Description: This essay advocates that the transition from DB to DC plans won't be complete until plan sponsors offer programs of retirement income in their DC plans. The essay discusses the relevant actuarial and behavioral issues.