An actuary is a professional who is trained in risk analysis. Actuaries draw on mathematics, statistics, economics and financial theory to study risk and design methods to minimize its impact. In an insurance company, an actuary assesses the risk of certain events so that the company knows the amount of premiums policyholders have to pay and the amount of money to be set aside in reserves. While leaning on financial models and calculations, an actuary must also be sufficiently well-rounded to come up with creative solutions to business and financial problems. Many actuaries work in insurance companies, but there is broad demand for their analytic and statistical skills in fields such as investment management and consulting.

S. Jay Olshansky on Why the Message is All About Extending Health

S. Jay Olshansky is a Professor in the School of Public Health at the University of Illinois at Chicago and Research Associate at the Center on Aging at the University of Chicago and at the London School of Hygiene and Tropical Medicine. Much of Dr. Olshanky's research has focused on the upper limits to human longevity and the health and public policy implications associated with aging.  We had an opportunity to connect with Jay at the recent SOA Living to 100 Symposium.

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Moshe Milevsky Discusses Tontines for the 21st Century

Moshe Milevsky is an Associate Professor in Finance at the Schulich School of Business at York University, and he is one of the world’s leading authorities on retirement income.  Professor Milevsky recently published and presented an...

Are Inflation Adjusted Annuities Worth the Cost?

Inflation protection for fixed annuities would seem to be a sensible consideration given the fact that central banks around the world are doing everything they can to reflate in the wake of an historic deleveraging.

After all, the worst possible place to be if and when inflation does kick-in is on the receiving end of nominal (not adjusted for inflation) fixed payments, and most fixed annuities fit this description perfectly.

While the inflation protection makes sense in theory, it turns-out that inflation-protected annuities may not be so sensible in practice...

SOA Offers Consumer-Oriented Content for Retirement Decisions

The Society of Actuaries (SOA) just published a series of short whitepapers or “briefs” that focus on some of the major decisions that are encountered by retirees. This is a great resource for consumers who are seeking objective content produced by experts. The Society has clearly made efforts to create content that is accessible to a non professional audience. The briefs are clear, short and focus on consumer -relevant topics such as “when should I retire.” There are 11...

American Academy of Actuaries Supports Annuities as Efficient Way to Address Longevity Risk

The American Academy of Actuaries (AAA) responded to the Request for Information that was developed by the Departments of Labor and Treasury earlier this year. The Academy's full response can be viewed here .