Description: This paper takes the position that the most significant impact of pension funds on the U.K. economy relates to the costs imposed by extreme mismatching between their financial assets and liabilities. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.

Description: This paper shows an approach whereby future asset returns and liabilities are modeled taking into account the probability of various returns. It develops an asset-smoothing approach that uses an expected return on the asset mix and averages both historical and projected asset values. From Current Pension Actuarial Practice in Light of Financial Economics Symposium, M-RS04-1.

Description: This paper summarizes the benefits and financing of the Medicare program, its financial status, and how the nation's impending demographic changes will affect the cost of the program. From The Old-Age Crisis - Actuarial Opportunities - The 1996 Bowles Symposium, M-RS99-1.

Description: During the last decade, a vast activity had been observed in generalizing of the classical discrete distributions. The main idea was to apply the extended versions fur modeling different kinds of dependent count or frequency data structure in various fields. In the present paper we suggest extensions of the classical univariate geometric, negative binomial, Poisson, Bernoulli, binomial and logarithmic series distributions, by including an additional parameter. It has a natural interpretation in terms of zero-inflation, and because of this we named the corresponding generalized versions adding inflated-parameter.

Description: Submissions details for future editions of the CompAct Newsletter.

Description: This paper demonstrates that using a conditional probability approach to analyzing investment data yields investment forecast and stock option pricing models which more closely match actual market data, and it demonstrates the impact that conditional probabilities could have on CAPM beta and risk premia calculations. Reprinted from: Journal of Financial and Economic Practice, Vol. 6 No. 2 Spring 2006.

Description: A summary of Medicare reform and its effect on prescription drug coverage.

Description: Discussion of the differences between aging and disease research and factors affecting longevity. Argues that elimination of most mortality risk will not create a dramatic increase in life expectancy.

Description: Discussion among experts. From 2005 Living to 100 and Beyond Monograph, M-LI05-1.