Description: Read the September 2017 issue of The Financial Reporter published by the Financial Reporting Section.

Description: A description of the changes brought about by the tax reform in December 2017.

Description: Describes the changes in insurance regulation on both an international and US perspective.

Description: The SOA textbook related to US GAAP for insurers has been updated. It incorporates the recent GAAP changes, including Long Duration Targeted Improvements, and now covers both life and non-life insurers. This is an essential updated for anyone working with US GAAP financial statements, whether you are an actuary or other finance professional.

Description: After a summary of FASB decisions in their GAAP Targeted Improvements project, this article describes several issues that will need to be resolved either by the board or in actuarial practice and argues for seeking solutions that provide meaningful results without overly complicating valuation processes.

Description: Read the March 2018 issue of The Financial Reporter published by the Financial Reporting Section. It provides practical information for the working actuary.

Description: This article reviews why financial reporting controls are relevant to actuaries. It also discusses the impact of LDTI on controls and the strategic decisions that insurers need to make.

Description: A continuation of the discussion of the practical considerations for implementing the New Accounting Statement of Position for Long-Duration Contracts and for Separate Accounts – Part III

Description: Discussing human resource, computing resources, and process issues to consider when implementing Principle Based Reserves (or VM20)

Description: Healthcare costs have been rising faster than general inflation for many years. Early models that predicted this past pattern projected healthcare expenditure growth that continued to outpace total expenditure growth leading to the fallacious position that the whole of the US economy would ultimately be consumed by healthcare. The Society of Actuaries' Pension Section and Health Section Research teams commissioned Professor Thomas E. Getzen of Temple University to construct a resource model for the projection of long term healthcare cost trends that includes capacity constraints to ensure the long-term projection is rational. The motivation for creation of the model was driven by its potential usage as a resource for the estimation of reportable liabilities for retiree healthcare benefits as specified under FAS 106 and GASB 45 accounting statements. This is a zip file containing the following: 1. A background paper on the creation of the health trend model, 2. The model, programmed in Microsoft Excel [xls format], that projects per-person expenditures and growth rates through 2099 using baseline assumptions, but also permits the flexibility for user–inputted alternative assumptions, and 3. Technical documentation providing transparency and support for the ultimate results.