Description: This is a discussion about the Opinion No. 8 Bulletin on accounting for the cost of pension plans that was recently issued by the Accounting Principles Board of the American Institute of Certified Public Accountants and Bulletin No. 21 recently issued by the Committee on Accounting and Auditing Research of the Canadian Institute of Chartered Accountants, and the effect these bulletins will have on the preparation of actuarial valuations of pension plans. Also discussed is the use of level-premium life insurance in connection with employee benefit plans and the underwriting, actuarial and other problems encountered in the design and marketing of such plans. From Transactions of Society of Actuaries 1967, Vol. 19 Pt. 2, No. 54.