Description: The abstract for the paper A New Risk Metric for Defined Benefit Pension Plans.

Description: This paper develops an option pricing model that takes cost of capital concepts as its foundation rather than dynamic replication. The resulting model, called the 'C' measure in this paper, is related to the family of Affine Jump Diffusion models that are well known in the finance literature, so it is fairly easy to understand and implement. We argue that this is a reasonable model to use for estimating equity implied volatilities that are beyond the five- to 10-year horizon that can typically be observed in today‘s capital markets. The paper concludes with a short discussion of how to grade from observable market data to the 'C' measure.

Description: This paper examines the funding expectations of the three primary stakeholders in the pension system: plan sponsors, taxpayers, and workers. From The Future of Pension Plan Funding and Disclosure Monograph, M-RS05-1.

Description: An Excel spreadsheet to aid the reader in interpreting the information contained in the report, which provides exposure information by lapse factor and data cell. Please see the SOA website experience studies for the full report.

Description: This is a report on intercompany mortality experience by amount of insurance under standard individually underwritten issues. This study includes policy years 2005-07.

Description: Table from an article in The Actuary Magazine entitled A Strategic Analysis of the U.S. Life Insurance Industry Part II: Products.

Description: Solicited by the American Council of Life Insurers (ACLI), this is the perferred version of the 2001 CSO mortality tables.

Description: The SOA's Committee on Finance Research is please to make available the results of this research project, jointly sponsored by the SOA and CAS, that explores economic series and provides and Excel based tool for generating future economic scenarios. This is an Excel Spreadsheet for Appendix C showing Simulated Financial Scenario Data of inflation rates and interest rates from this research project. Please see the SOA website for the full report and other related spreadsheets.

Description: In this era of enterprise risk management, actuaries should reassess what we tell the public about what we provide. We should allow buyers to make informed choices based upon all the facts. We should recognize that regulatory and judicial forces will be focused on the products we produce for a very long time. This 2004 editorial from The Actuary Magazine discusses some common financial practices that are undergoing closer regulatory scrutiny.

Description: This report identifies and reviews relevant literature with respect to the valuation of private placement debt [PPD] and real estate, develops a case study examining the effectiveness of an actuarial valuation methods for PPD, and proposes guidelines regarding the valuation of illiquid assets.