Description: This panel discussion, from the April 1982 Society of Actuaries meeting in Orlando, presented a discussion on development as of 1982 in the education and exam system. Topics included: 1. Goals, purposes and objectives of actuarial examination and education. 2. Critique of the current system. 3. Role of the academic community in actuarial education. 4. Interrelationship of the Society's E&E structure with that of other actuarial bodies. 5. Plans and future directions.

Description: Replacement rates have historically been a tool to determine the adequacy of retirement income to maintain an individual’s standard of living. Numerous conceptual and methodological issues lie, however, beneath its simple exterior. The purpose of this paper is to examine these underlying issues for the benefit of retirement security stakeholders, pension plan sponsors, advisors, financial product providers, and individuals planning for retirement.