Description: Presenter discusses some techniques for minimizing and controlling the damage to defined-benefit pension surpluses caused by market forces. From the Record of the Society of Actuaries, Vol. 25, No. 2.

Description: This is a panel discussion about the economic outlook, particulary with respect to interest rates, the behavior since World War II and the outlook for the future. From Transactions of Society of Actuaries 1962, Vol. 14 Pt. 2

Description: We consider Libor market model and calibration process. We estimate some interest rate derivatives such as Caps and Swaptions. We use Monte Carlo methods with appropriate dynamics under spot measure and forward measure. Imposing martingale discretization property, the same quantities are estimated again to see a contrast or discrepancy in light of confidence interval. Based on algorithms discussed in the paper, “Arbitrage-free discretizations of lognormal forward Libor and swap rate models” by Glasserman, P and Zhao, X 2000, the algorithms are implemented in excel VBA. Starting with current market data such as FRAs and Bond Prices, we describe steps involved to estimate the price of interest rate derivatives such as Caps and Swaptions, which would be beneficial to the practitioners in the industry.

Description: This panel discussion defines inflation, discusses inflationary outlook in the near future, the psychological effect of inflation on savings habits, trends, industry responses, and effects on agent compensation, interest rates and expense factors.

Description: The following topics were discussed at concurrent sessions: 1. Personal Security in the 1970's- United States and Canada, 2. Adjusted earnings for life companies, 3. Pension funding, 4. What about these younger actuaries?, 5. Sources of statistical information for actuaries, 6. Variable life insurance, 7. Models and decision techniques, and 8. Role of the actuary in expense control. From Transactions of Society of Actuaries 1970, Vol 22, Pt. 2, No. 63.

Description: Presented at May 2005 Spring Meeting. This session examines financial, economic and traditional actuarial methodological approaches used for solving investment-risk problems.

Description: This is a short story on the retirement income calculator.

Description: This is a panel discussion about savings and the economy. From Transactions of Society of Actuaries 1967, Vol. 19 Pt. 2, No. 55.

Description: Acquisitions and divestitures present unique challenges to actuaries, both before and after the sale. The panelists at this presentation address the following issues for pension as well as for health and welfare plans: 1. What considerations are there when a company is being bought or sold? 2. Can the buyer and the seller ever agree upon the retiree medical liability? 3. Is the buyer interested in the income statement or the balance sheet? 4. What are some of the hidden liabilities? 5. What regulatory issues need to be considered? From Record of Society of Actuaries Vol. 17, No. 3B.

Description: Presented at October 1996 Annual Meeting. This session discusses recent regulatory and economic developments in Mexico, including but not limited to the devaluation of the peso, an update on NAFTA, the changing market conditions, and an update in privatization of the social security scheme.