Description: Feature article describing the need and reasoning for the new SOA Section, Social Insurance and Public Finance.

Description: This editorial notes how change is constant in the world around us and that the SOA has adopted a theme of change. Articles in this issue of The Actuary, which are all related to change, are summarized.

Description: Editorial discussing the tumultuous insurance industry and current financial crisis.

Description: SOA Board approves code of conduct for candidates.

Description: Provides background about Prescription Drug Plans, PDPs, and the standard benefit package offered under Medicare Part D. It also provides a basic overview of the bid-development process for a PDP and summarizes some general strategies and observations used in developing the 2006 bids that will likely be used for 2007.

Description: This article from The Actuary Magazine discusses the paper issued by the Emerging Issues Advisory Group on fair value liabilities. A change in the method used for financial reporting is on the way. The questions, what are the changes and what they mean to you are answered here.

Description: This is a review of 'Restructuring Retirement Risks,' a collection of papers that examines retirement risks, edited by David Blitzstein, Olivia Mitchell, and Stephen Utkus. The papers, which are a must–read for serious students of retirement systems and a good introduction for those not as familiar with the issues, explore the stresses being placed on those systems and ever–increasing uncertainty as Baby Boomers begin to move into retirement.

Description: This article examines the dynamic environment of the health care system in the United States and the challenges facing the health actuary.

Description: Other Post Employment Benefits OPEB deals with the promise of providing coverage for post employment non-pension benefits such as health care and life insurance. This article focuses on the recent implementation of GASB No. 43 and 45 which requires public entities to value and recognize the liability of post employment non-pension benefits.

Description: This article was written in June 2008, prior to the financial crisis in the fall of 2008. It discusses the very complicated new world of financial insturments and derivatives and the risks that there may be in light of no strong capital requirements, no control on leverage and the high derivative volume.