Description: Letter From The President column for the October/November 2012 edition of The Actuary magazine discussing the importance of actuaries staying relevant in today’s and the future’s work force.

Description: Discussion of the March 1, 2013 Internal Revenue Service (“IRS”) release of PLR 201309011, which addresses the application of the section 817(h) diversification requirements to variable contracts that have invested in illiquid investment vehicles (the “Funds”).

Description: This article describes the need for and the benefits of implementing a financial education program for employees

Description: Feature article discussing the creation and effects of orphaned VEBAs, Voluntary Employee Benefit Associations.

Description: This is an article that discusses the retreat of savings banks from mutuality. As we ponder the future of mutual life insurance, we should be aware of the change sweeping through the mutual savings bank industry.

Description: This article discusses the new Investment Section. The initial targeted areas are expected to be: Modeling, Corporate Finance, Capital Management and Investment Instruments.

Description: In this paper, chapter V of the 1987 Valuation Actuary Handbook, the authors start with a discussion of how the recent economic environment with volatile interest rates has changed the valuation and surplus management process to one more dependent on actuarial judgment. In a discussion of surplus policy, the authors identify four “layers” of surplus which have been identified by scenario testing. These surplus layers, along with policy reserves, are based on specific invested assets. The paper discusses implications for the future and notes the actuary’s ability to advise management on surplus adequacy is a basic tool of risk management.

Description: This material, Appendix I of the 1987 Valuation Actuary Handbook, is an appendix to Chapter II of the Handbook, ‘Methods of Analyzing cash Flows to Test for Reserve Adequacy.’ The author provides additional support in his appendix which discusses the theory behind MacAulay duration and provides illustrative examples.

Description: Discussion of solvency problems and the actuary's role in addressing them in the life insurance industry.

Description: discussion of risk management and proper pricing of life insurance products.