Description: Article from The Actuary, May 1971 – volume 5 - Issue 5 is an extract from a recently discovered Dead Sea Scroll regarding language to be included in a prospectus to provide potential investors with an adequate basis for judging the offering.

Description: Can we learn anything about business success, or better yet about life, from the world of politics? One would presume not, given the seeming vast gulf between these realms. Yet perhaps this personal tale of a challenge I undertook decades ago might shed some light on how independent actuaries (and entrepreneurs in other corners of business) might adopt a refreshing perspective that advances, or even transforms, their current actuarial practice’s trajectory.

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: Part One of a three part discussion of A Social Security System for the 21st Century, this part focuses the broader international, social, political, cultural and economic trends that will govern the viability and sustainability of a social security system in the 21st century.

Description: The article first tries to determine a consensus view of what social security should accomplish and then tries to measure how well the current level of benefits succeeds in meeting these goals. Assessing benefit adequacy is an essential element in putting the overall program on a sound financing footing.

Description: This article discusses the challenges resulting from a new political cycle and expresses confidence that actuaries will respond effectively.

Description: Company Considerations and Regulatory Perspective for Offering Reduced Benefit Options

Description: Book review of The Brookings Institution, Washington D.C., 1974, pp. 269 Setting National Priorities, the 1975 Budget. Federal spending now accounts for at least one-fifth of the entire U.S. economy. It is the single most important expression of America's priorities. The material in the book is a fertile source of material for the needed debate.

Description: The SOA is shining a spotlight on its research activities as it migrates into the areas of public policy and other relevant topics.

Description: ACLI's comments to Treasury and IRS on industry-related guidance.