Description: This paper is on the ownership considerations in a new legal structure of a life insurance company.

Description: This paper suggests that many problems in health insurance pricing can be solved by requiring a minimum mandatory paid-up period [i.e., premium period shorter than insurance period], and by encouraging insureds to persist by providing them adequate pricing information. This will generate significant investment income for insuring programs and reduce the cost of insurance.

Description: The goal of the study is to create tables which are based on Sun Life experience in the first 5 years of disability duration, then equal to 100% of the 1987 basic rates after 5 years. One table was created from the 1987 tables which was unisex and one elim. the LTD claim file has an approximate 50/50 split of male, female claims and 3, 6 month elim claims.

Description: This 1997 presentation from the 32nd Actuarial Research Conference is about the challenges of an aging population on retirement, Social Security, Medicare and long term care. From Actuarial Research Clearing House 1998, Vol. 1.

Description: The decline of importance of private defined benefit plans in relation to defined contribution plans in the United States is a major issue of interest to pension actuaries. This decline is undeniable, and has been attributed to numerous factors: costs of government regulation, societal and cultural changes, changed attitudes of employers, and employees' lack of understanding of defined benefit plans. It has also caused some to proclaim the end of a private defined benefit plan. This work analyzes possible macroeconomic factors contributing to the crisis of defined benefit plans, and proposes an alternative hypothesis for the cause of the crisis: the decline of relative attractiveness of defined benefit plans in relation to defined contribution plans due to the shift in the way relative returns to macroeconomic factors of production, i.e., capital and labor, are allocated in the national economy. Possibilities of improvement of the position of defined benefit plans are also discussed. From Actuarial Research Clearing House 1998 Vol. 2.

Description: This paper examines the Federal Housing Administration's [FHA] historical termination data on individual single family mortgages. These FHA data can be used to help understand recent past experience as well as to forecast future experience.

Description: Private defined benefit pension plans must, by law, pre-fund the retirement benefits. This requires the periodic valuation of liabilities and calculation of contributions. Because valuation assumptions are seldom borne out by reality, a surplus [or deficit] ensues and varies over time. When the surplus becomes sizable, there often arises a desire to distribute part of it so as to bring it down to a more reasonable level. This paper provides a brief overview of cooperative game theory and, in particular, sharing rules. Then, using certain sharing rules, it determines how to split the surplus or deficit among the plan participants and sponsor. In general, the participant's share in the surplus depends on the total of his contributions. Other considerations, such as the actual investment income received on his contributions or the years of service, may influence the distribution of the surplus. It may even appear desirable to take account of the accrued liability. From Actuarial Research Clearing House 1998, Vol. 1.

Description: A great deal of useful information already resides on the Internet. Actuarial researchers/educators should make a point of adding to it. This 1995 presentation from the 30th Actuarial Research Conference discusses actuarial information available on the Internet and proposes a home page for the Society of Actuaries. From Actuarial Research Clearing House 1996, Vol. 1.

Description: On July 1 1997, a new privatized but compulsory retirement system came into effect in Mexico. The new system has a complex web of contributions by employers, employees and by the government. The retirement funds also have a complex web of charges applied to the funds. This paper carefully analyzes these complex cases to find out which funds perform the best. It shows through simulations that the optimal strategy for individual retirement account holder is not to stay with one fund throughout the working life. Instead, the best option is to switch at some point. The switching point depends on a number of factors: 1. the wage rate of the workers [and also on the growth rate of wages], 2. the real interest rate, and 3. the inflation rate. From Actuarial Research Clearing House 1999, Vol. 1.

Description: ['he purpose of this paper is to describe a possible Old-Age Social Security Program for Bangladesh, with financial projections through the year 2025.