Description: A summary of a scientific paper written to address the differences and similarities between the option pricing method now more commonly known as fair valuation and the actuarial appraisal method.

Description: Chairperson’s column describing activities the Product Development section has undertaken to date.

Description: Chairperson’s letter discussing changes that occurred between 2008 and 2009.

Description: Actuarial models have always been an important tool for helping companies project future results and understand risks. As complex models have started to become critical components of the reporting and compliance processes, however, models have vaulted to new levels of importance—and of scrutiny. This has raised everyone’s interest in the management of models, and by implication, in their ability to control the inherent model risk. From Small Talk Newsletter, Issue 37, January 2012.

Description: Analysis of a private letter ruling addressing a section 807(f) change in basis for computing life insurance reserves.

Description: May 2015 marked the inaugural issue of Taxing Times, the newsletter of the newly-formed Taxation Section of the Society of Actuaries. In the spring of 2015, we recognize this milestone with a trip down memory lane.

Description: Frequently Asked Questions on tax reserve methods and assumptions, based on law in effect prior to 12/31/2017.

Description: The article provides an introduction to some of the key limitations that the Internal Revenue Code imposes on business uses of life insurance, focusing on the limitations under Section 264(a) on business deductions for premiums and interest expenses related to life insurance, the similar limitations under Section 264(f) for unrelated interest expenses of businesses that own life insurance, the limitations under Section 101(j) on the excludability of death benefits under employer-owned life insurance contracts, and the recently-enacted rules for life settlement transactions.

Description: This article focuses on the TCJA’s changes to the provisions for net operating losses (“NOLs”) and highlights some of the challenges surrounding the NOL provisions that insurance companies may face when making business decisions around reinsurance agreements.

Description: Book review of A Comprehensive Guide To Measuring And Managing Life Insurance Company Expenses.