Description: Part 5 addresses various purposes for measuring a public sector pension liability and which measures have the most practical usefulness.

Description: A comparison of recently used mortality assumptions among state-based and large-city public pension plans.

Description: Author response to Eric Friedman’s comments on ‘The Case for Stochastic Present Values,” by Dimitry Mindlin

Description: Informal discussion of session 1A

Description: Pricing longevity swap reinsurance transactions consists of a number of different actuarial tasks, each of which hides potential pitfalls. The article outlines the pricing process, which includes a detailed analysis of current mortality experience of the portfolio to be transferred, choice and calibration of an appropriate model for mortality improvement trends and the calculation of a risk margin which reflects the uncertainty associated with the pricing best-estimate, which includes mis-estimation risk, model risk, longevity basis risk and stochastic uncertainty.

Description: The article is a summary of Society of Actuaries report entitled “Annuity Market Pricing Approaches” sponsored by the Retirement Section Research Committee. The report examines the Canadian Institute of Actuaries (CIA) methodology of developing solvency valuation assumptions, compares it to methods used in the U.S., and considers if it could be used in other markets, such as U.S. group annuities or individual annuities

Description: In this paper, how various factors affect the mortality of retirees is investigated. It is found that the effect is often different for older ages than for younger ages. The method to develop actuarial models that take into account the factors will be discussed. From Actuarial Research Clearing House, Volume 38, No. 1.

Description: This is the abstract of the presentation that shows results obtained from a mortality study based on Canadian pensioners data available from records of the Canada Pension Plan and Quebec Pension Plan as of December 31st, 2008. From Actuarial Research Clearing House, 2011.

Description: The selection of a discount rate is one of the most important assumptions for the calculations of present values. The paper presents the basic properties of the key measurements of investment returns and the discount rates associated with these measurements.

Description: The author delves into other important parts that should be in the scope of model validation besides the code.