Description: Basic discussion of premiums paid, investment in the contract, and basis as used in IRC provisions applicable to life insurance and annuity contracts.

Description: An Interview with John Cutler and An Enhanced Social Security Annuity

Description: In this article the author concludes that “terrorism may foster a sense of conservatism that we may now need in the marketplace. Now that policy may have to be changed. In the process, risk will become better understood, common sense can replace, to some extent, the irrational behavior or excessive risk taking of the past and we will all appreciate our financial situation much more, and won’t expose ourselves to unrealistic expectations as much Hopefully the actuarial profession can respond to the challenge, since we are the best qualified to quantify such risks in the marketplace.”

Description: Statistics about funded status of multiemployer pension plan.

Description: Statistics about funded status of Producers-Writers Guild of America Pension Plan

Description: This monograph was presented at the 2011 Enterprise Risk Management Symposium, held March 14-16 in Chicago. The author, noting that ‘strategy is a source of risk to the firm and thus ought to be included within enterprise risk management [ERM], enterprise risk analysis and measurement of the firm’s value, proposes a detailed framework in which strategic considerations can be incorporated into a quantitative model of the firm.

Description: Presented at the Living to 100 Symposium, January 2011. This paper looks at issues with regard to long life and managing risk by individuals. It focuses on how structuring of payouts interacts with issues related to long life, and also discusses cash benefits and health-related benefits.

Description: Abstract: A model for analyzing the probability and severity of default of sovereign entities and banks. The methodology analyzes the risks inherent in the investment of debt of sovereign governments and large financial institutions side-by-side, taking into consideration macroeconomic interactions among the sovereign fiscal and monetary authorities, the financial institutions, and the real economy. The signature aspect of the methodology is that it adapts a Merton-style default model to use explicit measures of sovereign assets and asset volatility.

Description: Essay suggesting to fix the tax code, reform healthcare regulations, open the industry to competition and reform malpractice litigation.

Description: Investment Fallacies: The Fallacy of the Fed Model