Description: This paper presents multiple book reviews: Reports from Staff of U.S. House of Representatives Committee on Ways and Means and U.S. Senate Committee on Finance, Reports in Connection with Social Security Legislation 1975-77, 'Statement on Cost Comparisons of Individual Life Insurance Policies', by Canadian Institute of Actuaries, 'Investment Activities of Life Insurance Companies' from Huebner Foundation Lectures, 'The Life Insurance Industry's Marketing Dilemma' by Johns, 'The Future of Social Security' by Munnell, 'Social Security - Today and Tomorrow' by Ball, 'Mortality Table Construction' by Batten, 'Mortality Table Construction' by Batten, 'The Crisis in Social Security - Problems and Prospects' by Boskin, 'A History of Interest Rates' by Homer, 'Indexation of Pensions and Other Benefits' by Robert Myers, 'Life Insurance Accounting' by Strain, '1978 Annual Report of the Board of Trustees of the Federal Hospital Insurance Trust Fund...' by US Congress. Brief summaries of additional readings are also included.

Description: This section presents book reviews and summaries of recent publications. Reviews: '1975 Annual Reports of the Board of Trustees of the Federal OASDI Trust Funds...' by the US Congress, 'Providing Adequate Retirement Income' by Schulz, Carrin, Krupp, Peschke, Sclar and Steenberge, 'Ernst & Ernst GAAP - Stock Life Companies' by Posnak, 'Reports of the Quadrennial Advisory Council on Social Security' by US Government, 'Fundamentals of Private Pensions' by McGill. Digests also included.

Description: The Joint Actuarial Committee of the American Life Convention and the Life Insurance Association of America has been considering changes needed in the Standard Nonforfeiture and Standard Valuation laws in light of the high level of interest rates currently available and expected for future years.

Description: Report highlighting some income tax legislative and litigation issues for insurance companies in 1962

Description: Sequel to the author's paper The Taxation of Insurance in Canada, which was published in 1970 in Volume XXII of the Transactions. The first paper covered the history of insurance taxation in Canada through 1969, including a description of the radical changes that became effective that year as an early phase of tax reform, following the 1967 recommendations of the Royal Commission on Taxation. Further general tax reforms became effective in 1972, including the introduction of taxes on capital gains a number of clarifications and refinements were also enacted in 1973. The present paper outlines these general changes, with particular emphasis on their effect on insurance. Finally, a completely revised mathematical presentation of the taxation of insurance corporations is given, together with formulas and examples of the marginal taxation rates on various kinds of income and disbursement of such corporations. Followed by discussion papers submitted by 2 authors

Description: This paper illustrates a procedure for analyzing the sources of profit under FAS 97 and suggests an analytical procedure for reflecting actual experience and revised future assumptions in the recalculation of the estimated gross profit defined by FAS 97.

Description: Presentations and discussions at Symposium on Adjusted Earnings in 1971. Discusses: 1. The differences between insurance industry accounting and accounting for other types of businesses, and the need to adequately communicate the reasons for these differences to the accounting profession 2. Background on problem of reported earnings - diminishment of focus on the balance sheet 3. Uses and objectives of financial statements 4. Philosophy of matching costs and revenues in GAAP reporting 5. Responses to the AICPA draft of an audit guide for life insurance companies 6. Deferred tax considerations

Description: This paper examined two interrelated aspects of federal income taxation of life insurance companies. First, a common-sense approach to the Life Insurance Company Income Tax Act of 1959 was developed. Second, marginal tax rates for Phase III companies was developed.

Description: Digests of following discussions: 1. Mutual life insurance companies - their objectives and operating philosophy 2. State, provincial, and municipal employee pension plans - financing and other problems 3. Mortality and underwriting of individual policies for large amounts 4. Investing during the 1970's 5. Long-range viability and regulation of corporate pension plans 6. Forecasting the environment for business 7. Liabilities and surplus in the 1970's 8. Changing modes of family life - work and income over the life cycle 9. The role of the actuary in collective bargaining 10. Health insurance in the United States 11. Adjusted earnings

Description: Discusses the need for a new life insurance valuation mortality table to replace the 1941 CSO, the authorization by the NAIC to form a committee to construct such a table, and the preliminary table developed.