Description: The purpose of this paper is not to present a revolutionary new concept, instead, it is to reexamine a familiar concept in the light of new market circumstances and, to consider the consequences to the life insurance industry if the concept were adopted.

Description: This paper outlines the limitations inherent in current actuarial pricing techniques and describes a product development process that can produce optimal decisions in competitive environments. From Product Development Section Monograph, M-AS99-3.

Description: This article is a response to the article Current U.S. Ordinary Life Mortality by Doug Doll and Mike Jones. The author offers his interpretation of the mortality improvements observed between 1980-85 and 1983-88.

Description: In this Forward to the Product Development Section Monograph M-AS99-3, the authors reflect on the changes that have occurred during the first 50 years of the SOA and introduce the selected articles that reflect the forces of change in product development work.

Description: This page presents the Table of Contents to the Price, Waterhouse study. From Study of Public Financial Guarantee Programs, M-FI96-2.

Description: This paper examines how the cash balance plan design is related to the normal cost and accrued liability in the various actuarial cost methods, as well as the interaction of the economic assumptions in the valuation. The analysis will show that the traditional cost methods may understate the actual liability. The paper also presents an alternative cost method, along with its advantages and disadvantages. From Cash Balance Symposium Monograph, M-RS02-3.

Description: Chapter 8 examines several issues related to DROP features added to ERISA-covered plans, and several issues related to Canadian plans. From Design and Actuarial Aspects of Deferred Retirement Option Programs, M-RS03-2.

Description: Chapter 7 analyzes the demographic variables that could have an effect on the future costs of social security, and then discusses a wealth-transfer model that could be used to stabilize the financing of Canada's total social security system and that would also lower the ultimate cost of Canada's retirement income security programs. From Economic Security for an Aging Canadian Population, M-RS99-2.

Description: Abstract, Copyright, and Title Page. From Economic Security for an Aging Canadian Population: Abstract, M-RS99-2.

Description: This paper provides some background about demography, health and retirement summarizes how current pension laws influence the design of pension plans and the timing of retirement and looks at the optimal retirement age from the perspective of employers, government and workers.