Description: Article from Pension Section News, May 2007, No. 64, discusses the expectations of a pension plan. When people get what they expect, they are happy. When people do not get what they expect, they get upset. A lot of Americans are upset today with their retirement plans. The Financial Accounting Standards Board FASB and Congress are taking action, but their actions may create more problems than they solve. Underlying everything is a substantial disconnect between rule-makers and the public. The public has a more simplistic view of a retirement plan than rule-makers do. Rule-makers need to keep in mind the simplistic way ordinary people think of a retirement plan.

Description: This is a continuation of a discussion about the the theoretically correct treatment of the credit put the policyholder writes when purchasing an insurance contract.

Description: A discussion of the theoretically correct approach to the valuation of cross-border insurance ventures

Description: This article discusses asset-liability management from two different paradigms, one a simulation of the firm as an external observer e.g. shareholder would view it, and the other a “still life” at a given moment from an internal viewpoint.