Description: Over a short span of two weeks, the financial system has observed the collapse of two mid-sized U.S. commercial banks, California-based Silicon Valley Bank (“SVB”) and New York-based Signature Bank, and a takeover of troubled Credit Suisse by a rival in Europe. Other banks that serve a similar demographic as SVB, such as First Republic Bank and PacWest Bancorp, have also experienced an elevated level of customer deposit withdrawals while their stock prices plummeted. The U.S. Federal Deposit Insurance Corporation (FDIC) quickly stepped in and guaranteed all deposits from the failed banks to prevent a broader crisis in the banking system. The current turmoil in the financial system is a stark reminder of the importance of effective risk management and regulation.

Description: This paper, originally published in March 1983 as a study note for exam part 10E, and in 1984 in the Transactions of Society of Actuaries Vol. 34, is designed to be a single reference source for actuaries who want to increase their understanding of a GIC. This educational paper provides knowledge on all aspects of GICs, including their history, and has received significant recognition, including the 1984-85 Annual Prize, and the L. Ronald Hill Memorial Prize in 1985.

Description: This paper advocates asset/liability management for pension plans. It identifies the economic factors that influence the economic value of liabilities and discusses the typical asset portfolio that results.

Description: June 2012 issue of (RL) Bond Market Watch

Description: This paper will describe why self-insurance is less attractive with transparent-accounting rules, and the will examine two strategies an employer can execute to reduce the plan's and the plan participant's risks.

Description: From the 41st ARC: a presentation focusing on risk management of a pension plan whose benefit is the greater of a defined benefit DB and a defined contribution DC plan. Hedging strategies are derived and illustrated, recognizing that the DB guarantee is like an option.

Description: Discussion of Living to 100 Session 5A. The papers presented propose a new method to price the longevity risk premia in order to tackle the pricing obstacle and reviewed the insurance industry implications on retirement planning and the secondary market in insurance.

Description: A discussion of regulatory considerations for pension plans considering the use of longevity risk hedging contracts in Canada.

Description: This paper examines the characteristics of an ideal product and the type of institution that would be well positioned to offer the ideal product which would allow a housing asset to be a viable retirement asset.

Description: Lifetime pension pools convert a lump sum into lifelong income, periodically adjusting benefit payouts based on mortality and investment experience. Volatility-targeting strategies can enhance benefit stability by dynamically adjusting the investment portfolio’s exposure to risky assets in the context of these pools, demonstrating superior performance compared to traditional static asset allocation methods.