ul

When we build, let it be such work as our descendants will thank us for . and let us think, as we lay

stone on stone, that the time will come when men will say as they look upon the labor and the

substance,"See! this our fathers did for us "

JOHN RUSKIN

AMERICAN ACADEMYOF ACTUARIES

1990 YEARBOOK

PUBLISHED BY THE AMERICAN ACADEMY OF ACTUARIESHeadquarters: Membership Administration :

1720 1 Street, N.W., 7th Floor 475 North Martingale Road , Suite 800Washington, D.C. 20006 Schaumburg, IL 60173

202/223-8196 708/706-3513FAX 202/872.1948 FAX 708/706-3599

LISTINGS AS OF NOVEMBER 1, 1989

TABLE OF CONTENTS

History . . . . . .. 1Statement of Purpose . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Board of Directors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4Headquarters and Staff . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Academy Committees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11Joint Committees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19Actuarial Standards Board and Committees . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21Liaison Appointments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 3

Committee Appointment Guidelines . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24Past Officers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 5Meetings Calendar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26Membership Statistics . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 7

Membership , November 1, 1989 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28

Directory of Members by Business Affiliation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 234

Directory of Members by Geographic Location . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 305Bylaws . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 341

Prescribed Examinations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 347

Procedures for the Development of Standards of Professional Conduct .

Qualification , and Practice . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 348Guides to Professional Conduct . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 357Interpretative Opinions as to Professional Conduct . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 359Qualification Standards . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 365Discipline Procedures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 369Guidelines for Making Public Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 377Application for Admission . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 380Board and Committee Meetings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 381Dues . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 382Other Actuarial Organizations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 383Actuarial Clubs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 385Publications of the Academy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 389

history of the American Academy of Artuartes

HISTORY OF THE AMERICAN ACADEMY OF ACTUARIES

On October 25, 1965, the American Academy of Actuarieswas organized as an unincorporated association to servethe actuarial profession in the United States . The corre-sponding national body in Canada, the Canadian Instituteof Actuaries, had been incorporated earlier that same year .For many years, the actuarial profession in North Americahad consisted of four bodies : the Casualty Actuarial Society,the Conference of Actuaries in Public Practice, the Frater-nal Actuarial Association, and the Society of Actuaries . In1964, the members of those four- organizations, recogniz-ing the need for a single body to represent actuaries of allspecialties, approved formation of an all-inclusive organi-zation of qualified United States actuaries

The original plan had been to obtain a federal charter asthe first step toward seeking legal recognition of the profes-sion . When this could not be promptly obtained, the Acad-emy was dissolved as an unincorporated association and,on April 29, 1966, was reorganized as a corporation underthe Illinois General Not For Profit Corporation Act. HenryF. Rood, whose presidential address to the Society of Actu-aries in 1958 had voiced the hrst formal proposal for sucha national body, was elected president .In September 1980, the Fraternal Actuarial Association,one of the four founding organizations, went out of exis-tence . The dissolution indicated that the needs of fraternalactuaries have been increasingly met by other actuatialorganizations and that the National Fraternal Congress wasincreasingly providing a forum for fraternal actuaries .

A new statement of purpose for the Academy was adoptedby the Board of Directors on December 9, 1981, followingan exposure process with the membership and extensivedeliberations by the Board .

MEMBERSHIP REQUIREMENTS. Academy membership isintended to serve as the hallmark of a qualified actuary Inthe United States .

All residents who were Fellows (or the equivalent) of thefour existing bodies on October 25, 1965, were automati-cally enrolled as Academy members, subject to their indi-cated assent by paying the dues . The number of chartermembers was 1,427 .

The Academy immediately set about making its existenceknown to competent actuaries not eligible as charter mem-bers. It was required that any such actuary demonstrate tothe Admissions Committee adequate knowledge and skills .Many were admitted by this route, some after passing spe-cial proctored examinations . A requirement of seven yearsof responsible actuarial experience (five years for Fellowsby examination of the existing bodies) was imposed .

After January 1, 1970, educational requirements weregradually increased until 1976 . In January 1976, anamendment to the bylaws created a new non-voting classof'membership designated Affiliate of the American Acad-

1

emy of Actuaries. This class consisted of non-members ofthe Academy who became enrolled actuaries under theEmployee Retirement Income Security Act of 1974 (FRISA),subject to acceptance of their applications by the Academy .Subsequently, in January 1979, the bylaws were furtheramended to eliminate the distinction between Affiliates andMembers of the American Academy of Actuaries, as wellas setting the experience required at three years of respon-sible actuarial work . Subsequently, the Academy board setthe basic educational requirement at the Associateship levelin the Casualty Actuarial Society or the Society of Actuariesor status as an enrolled actuary under ERISA .

Non-tesidents of the United States can be admitted tomembership if they meet the Academy's educational andexperience standards, can demonstrate familiarity withUnited States actuarial practices, and have a need t4) per-form actuarial duties in the United States .

PROFESSIONAL CONDUCT. Guides to Professional Conductwere first issued in December 1965, were reconstituted intotheir current format in 1969, and have since been amplifiedand supplemented by Opinions 'T'hese Guides require thehigh standard of ethics and responsible performanceexpected of professionals, the Opinions aim to assist thepracticing actuary in dealing with particular situations thatmay arise. The Board of Directors is assisted by separatecommittees in this field . One of these, the Committee onGuides to Professional Conduct, keeps the Guides andOpinions current and appropt iate : the other, the Com-mittee on Discipline, considers questions that arise aboutthe conduct of and individual inernber .

STANDARDS OF PRACTICE. The Academy commenced issu-ing standards of practice, called Recommendations, in 1973 .'t'hese Recommendations were supplemented by Interpre-tations. A major step forward in the development andmanagement of standards of practice was taken in 1985with the creation of the Interim Actuarial Standards Board(LASS). The IASB served as the prototype for a permanentActuarial Standards Board (ASB), which was created inJune 1988 by a bylaw amendment vote .

The ASB is a separate entity affiliated with the Academy .The Board has sole responsibility to initiate the develop-ment of'and to adopt new standards . Standards of practiceinclude staterients on the techniques, applications, proce-dures, and methods that have been generally accepted bythe profession. The Guides and related Opinions requireactuaries to take these pronouncements into account andhe prepared to support use of assumptionsor methods thatvary from them .

LEGAL RECOGNiT[ON. In December 1966, the NationalAssociation of Insurance Commissioners adopted a reso-lution supporting recognized standards of actuarial com-petence and conduct and urging each commissioner tosupport the efforts of the Academy to gain official recog-

2

nition. Many states now have regulations that recognizeAcademy membership as qualification for signing insur-ance company annual statements ; some have correspond-ing recognition for public employee retirement systems .The first state to act was Indiana . which provided by a 1968law, for certification of actuaries by a state board . Thegeneral pattern followed in other states has been issuanceof administrative orders or regulations .

In 1975, the responsibility expected of actuaries was spelledout by a new requirement that the actuary who signs a lifeinsurance company annual statement must express anopinion on the actuarial elements, including an opinion onthe adequacy of reserves The Academy responded withRecommendations to the profession on how this respon-sibility should be met .

In 1980, a similar requirement was added to the propertyand liability insurance company annual statement, exceptthat the requirement is at the discretion of the domiciliaryinsurance commissioner Again the Academy respondedwith appropriate Recommendations to the profession

In 1983, a statement of actuarial opinion similar to thosecited above was added to the annual statement blanks forboth health service corporations and health maintenanceorganizations ; it was supported by Recommendations .In the pension field, the 1974 legislation, ERISA, has estab-lished extensive and specific standards for actuarial reports,for disclosure and fiduciary relationships, and for the qual-ifications of actuaries in pension work .

EXPRESSIONS OF PROFESSIONAL OPINION . The first mapninfluence of the Academy beyond the boundaries of theprofession was in its response, beginning in 1972, to theaudit guide for stock life insurance companies by the Amer-ican Institute of Certified Public Accountants . This coop-erative endeavor has led to regular and close associationbetween the actuarial and accounting professions .

The Academy has also become increasingly active in deal-ing with various government entities on a variety of pub-lic issues . In 1982, the Board of Directors adopted Guide-lines for Making Public Statements in connection withthis activity . These guidelines were updated in 1987 .

JOINT ACTIVITIES OF ACTUARIAL B ODIES. The NorthAmerican actuarial bodies cooperate in many ways, largelythrough joint sponsorship of actuarial examinations andthrough joint committees as needed . In December 1972 .the Academy was instrumental in launching an informalbody, the Council of Presidents, to foster even greaterunderstanding and conivion purpose . In 1976, the actu-arial organizations jointly formed the Actuarial Educationand Research Fund to foster the growth of basic actuarialresearch throughout the profession and to arrange fornecessary financing of such research . Finally, a number ofjoint committees and task forces have dealt with manyissues of mutual interest .

ADMINISTRATION. At the outset, the Academy shared

administrative facilities with the Society of Actuaries in

History of the American Academy of Actuaries

Chicago (since moved to Schaumburg, Illinois), which havesince been broadened to serve the Conference of Actuariesin Public Practice as well. A major step to increase the valueand influence of the Academy was taken in Jamiary 1976when the Academy became headquartered in Washington,DC. The Washington office is responsible fot all stafffunctions other than those related to the membership database which remain in Schaumburg .

MEETINGS Historically, the Academy, for the most part,has held its annual meetings in the fall of the year, inconjunction with the annual meeting of one of its foundingorganizations . In 1990, the Academy will begin holding itsown, separate annual meeting, essentially an outgrowth ofthe established Washington briefing and luncheon . Start-ing in 1976, the Academy and the Conference of Actuariesin Public Practice began co-sponsoring the Enrolled Actu-aries Meeting ; in 1989, the Society of Actuaries was addedas a co-sponsor . These meetings are a primary means ofcontinuing education for pension actuaries across the nation1981 saw the mtorduction of a series of Casualty LossReserve Seminars, which arejointly sponsored by the Acad-emy and the Casualty Actuarial Society ; they are of partic-ular interest to property/casualty actuaries and loss reservespecialists . In addition to these meetings, each year bringsother jointly sponsored meetings, seminars, and workshopson a variety of subjects .

PUBLICATIONS. The Academy continues to expand thenumber and scope of its publications . Each year, the asso-ciation publishes a Yearbook, which includes listings of mem-bers, committees, the Board of Directors, and Academystaff, as well as such material as bylaws, discipline proce-dures, and application for admission to the organization .The Journal, which began annual publication in 1975, arecord of the association's annual meeting and official pub-lic statements, ceases publication with the 1987 editionThat information is now included in a special subject sup-plement to the Academy's newsletter, The Actuarial Update

Each month the Academy publishes The Actuarial Update(which became a bimonthly publication in 1977, and beganmonthly production in 1981) and at least two supplements :the "Government Relations Watch" (started in 1982), aquick-reference summary of legislative, regulatory, andI elated activity in the public policy arena, and summary oflegislative, regulatory . and related activity in the publicpolicy arena, and the "ASB Boxscore" (started in 1987), astatus report on various standards projects and ActuarialStandards Board news . In addition, the Enrolled Aclu-ariec Report, a newsletter focusing on the concerns ofpension actuaries, is published five times during the year .

In recent years the Academy has added a Fact Book, theIssues Digest, and a communications primer to its array ofpublications . The single most significant addition to thepublications roster Occurred in June 1989, with the pre-miere of Contingencies, a four-color, bimonthly magazinewith advertising, aimed at both actuarial and non-actuarialaudiences .

Statement of Purpose

STATEMENT OF PURPOSE*

The purpose of the American Academy of Actuaries is to :

• Establish, promote and maintain high standards of competence, conduct and practicewithin the actuarial profession .

• Stimulate and encourage the advancement of the knowledge and the methods of practicein the actuarial profession

• Encourage and promote public understanding of the nature and scope of actuarialscience .

• Provide for communication between actuaries and the public on questions of qualification,certification or licensing, and identification of actuaries .

• Represent the actuarial profession in areas of public issues and discussions involvingactuarial concepts .

• Coordinate and interact with other professions and organizations in areas where jointparticipation can contribute to fulfilling public needs,

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The A . ad en"*s st:Uenient u1 put pole N .tS adopted bN the Board Of Dn CYwtS III ]'iii I

4

BOARD OF DIRECTORS

OFFICERS .

Harold] . Brownlee, PresidentMavis A. Walters . President-ElectHarry D. Garber, Vice PresulentHarper L. Garrett, Jr., Vice PresidentJohn H . Harding , Vice PresidentDaniel J. McCarthy, Vice PresidentVirgil D . Wagner, SecretaryThomas D. Levy . Treasurer

I,11'.

%t 11'

19901990199119901990199119901990

PAST PRESIDENTS :

John A. Fibiger 1990W. James MacGinnitie 1991

ELECTED:

Lawrence N . Bader 1990Albert J . Beer 1991Howard J. Bolnick 1992John K. Booth 1991Charles A. Bryan 1991Robert J. Callahan 1990Howard J. Fluhr 1990Ruth F. Frew 1991Michael Fusco 1990Ardian C . Gill 1990John K. Kittredge 1991Stephen P. Lowe 1992Robert A. Miller III 1992Thomas G. Nelson 1992R. Stephen Radcliffe 1992LeRoy J. Simon 1990William T. Tozer 1991Larry D. Zimpleman 1992

Board of Directors

Board of Directors

BOARD OF DIRECTORS

Harry D. GarberVice President

Harold J. BrownleePresident

Harper L . Garrett, Jr .Vrre President

Mavis A. WaltersPresident-Elect

John H HardingVice President

Virgil D. Wagner Thomas D. Levy John A FibigerSecretary Treasurer- Past President

Daniel J . MCCat dryL'tte President

W James MacGninitiePast President

5

6

Lawrence N Bader Albert .J . Beer Howard j Bolurck

Board ofDirectors

John K Booth

-11

Charles A Bran Robert,J . Callahan Howard J . Fluhr Ruth F. Frew

Stephen P. LoweMichael Fusco Ardian C Call John K . Kittredge

Board of Directors 7

Robert A. Miller III Thomas G Nelson R Stephen Rad(ltife LeRoy Suuoit

William T. Toner Larry D. %impleman

8

ACADEMY STAFF

James J . MurphyExecalive Vin President

Gary D. HendricksDirector of Government Information

and Clue] Economist

Erich ParkerDirector of Public Relations

Headquarters and Staff

Christine E . NickersonDirector , Skzri Lick Program

Gary D. SimmsGeneral Counsel and

Drectoi of Operations

Headquarters and Staff

HEADQUARTERS AND STAFF

HEADQUARTERS1720 1 Street, N W, 7th FloorWashington, D.C. 20006

202/223-8196FAX 202/872-1948

Jarnes .J. Murphy, M A .A.A ., Executive Vice President

Joanne B. AndersonFira7u ual Officer

Devara K. BodogSecreta7ylSlandards

Jeanne E. CaseyPublic Relations Specialist

Kathleen M ClarkFinancial Asststanl

Renee M. CoxPublications Manager

Mary S. DorseySecretaiylGoverriment Information

Gary D. HendricksDirector of Government Information

and Chief Economist

Alan M . KennedyStandards Technical Writer

Ken KrehbielPublic Relalioru Specra/nt

Rita L. MarciniakSecretary to the Executive Vire President

Sandy MartinConvention Coordinator

Dana H. MurphyEditor, Contingencies

Christine E. NickersonDirector, Standards Program

Erich ParkerDirector of Public Relation

Andrea A. PinkneySerretaiy/Publu Relation

Mildred F . Prioleau

Convention Ala7urger

Gary D. Sinms

General Counsel and

Director of Operations

MEMBERSHIP ADMINISTRATION

475 North Martingale Rd., Suite 800Schaumburg, Illinois 60173

708/706-3513FAX 708/706-3599

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Susan C. Schneider, Membership Manager

Committees

ACADEMY COMMITTEES

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Academy committees and task forces are appointed annually, the period running from the close of one annual meeting to thenext .

COMMITTEES UNDER THE SUPERVISIONOF THE PRESIDENT

COMMITTEES UNDER THE SUPERVISIONOF THE PAST PRESIDENT

Harold J. Brownlee

EXECUTIVE COMMITTEE

Between meetings of the Board, this Committee has thesame powers as the Board, with certain exceptions listed inArticle IV of the Bylaws . Ordinarily, it acts only in mattersof urgency or lesser importance and makes recommenda-tions to the Board in important matters .

W. James MacGinnitie

NOMINATING COMMITTEE

This Committee is responsible for nominating a slate ofcandidates for the Board of Directors for presentation tothe Annual Meeting, and for nominating a slate of candi-dates for Academy Officers for presentation to the Boardof Directors.

Harold J. Brownlee Harry D . Garber John A. Nibiger, ChairpersonPresident Vice President W. James MacGinnitie, Vice Chairperson

Mavis A. Walters Harper I.. Garrett, Jr. Daphne D. Bartlett G. Patrick ByrrresPresident-Elect Vice President Harold .[. Brownlee Ray Cole

Virgil D. Wagner John H. Harding Charles A. Bryan Mavis A. WaltersSecretary Vice President

Thomas D. Levy Daniel J. McCarthyTreasurer Vice PresidentW. James MacGinnitie, Immediate Past President TASK FORCE ON ACTUARIAL PUBLIC SERVICE

Dwight K . Bartlett , 111, ChairpersonCarole Banfield Toni HusteadPhilip Ben-Zvi Leonard McVityA. Norman Crowder, III A. Haeworth RobertsonBenjamin Gottlieb

COMMITTEES UNDER THE SUPERVISIONOF THE PRESIDENT-ELECT

Mavis A . Walters

COMMITTEE ON PLANNING

This Committee is to review the Academy's objectives, andto recommend alternative strategies that should be consid-ered to achieve these objectives, and how these strategiesmight be modified under alternative external develop-ments or future changes in the Academy's environment .

Mavis A. Walters, ChairpersonDaphne D. Bartlett Stephen H . LehmanBarnet N. Berin W. James MacGinnitieRichard J . Fallquist Charles L. McClenahanAllan M. Kaufman Robert W. Webb

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CASUALTY PRACTICE AREA UNDER THESUPERVISION OF THE PRESIDENT-ELECT

Mavis A. Walters

COMMITTEE ON PROPERTYAND LIABILITY ISSUES

The function of this Committee is to monitor legislativeand regulatory activities in the property and liability area .The Committee may prepare statements on property andliability issues for dissemination to the membership or forsubmission to appropriate organizations, both governmen-tal and private . Issues on certain specialty subjects, such asfinancial reporting and risk classification, are generallyreferred to the appropriate committee for action .

Robert V . Deutsch, ChairpersonCarole J. Banfield Frank Neuhauser, Jr .William N . Bartlett Dale F. OgdenDonald T. Bashline Charles M . PotokRoss A. Currie John M. PurpleJohn Dawson Lee R. SteeneckJeffrey H. Mayer Frank T. WhiteRobert T. Muleski

COMMITTEE ON PROPERTY AND LIABILITYINSURANCE FINANCIAL REPORTING

The function of this Committee is to monitor activitiesregarding financial reporting related to property and lia-bility insurance, review proposals made by various govern-mental and non-governmental organizations affectingaccounting and auditing issues related to property andliability insurance, and generally be responsible for analysisand recommendations on property and liability insuranceaccounting issues. When appropriate, the Committee willprepare written or oral discussion of such issues for pre-sentation .

Committees

JOINT PROGRAM COMMITTEE FOR CASUALTYLOSS RESERVE SEMINAR

This Committee is responsible for the development of aprogram for Casualty Loss Reserve Seminars co-sponsoredby the Academy and the Casualty Actuarial Society .

Patrick J . Grannan , ChairpersonBruce C. Bassman , Vice Chairpersons

James E. Buck, Jr. Susan M. MillerHoward L . Cohen Nancy R. MyersRobert J . Finger Terrence M. O'BrienRussell T. John Edward C. ShoopOrin M . Linden Jane C. Taylor

HEALTH PRACTICE AREA UNDER THESUPERVISION OF THE VICE PRESIDENT

Harper L. Garrett, Jr.

COMMITTEE ON HEALTH

The function of this Committee is to further the actuarialprofession's involvement as a responsible voice to individ-uals and organizations involved in policy issues relating todesign, cost, and financing of the nation's health care . TheCommittee performs its role in part by monitoring legis-lative and regulatory activities in the health area on boththe federal and state levels . It is also alert to developmentsfrom other sources and stays informed of the issues facedby our nation in its quest for appropriate, sound healthcare and its financing. The Committee may prepare state-ments on key health issues for dissemination to the niem-hership or for submission to appropriate organizations,both governmental and private. Issues on oilier specialtysubjects, such as financial reporting, risk classification, andhealth and welfare plans, are generally referred to theappropriate committee for action .

Edward J . Wojcik, Chairperson

David G . Hartman, Chairperson Paul Janus, Vice Chairperson

Dean R. Anderson Anne E. Kelly Alfred A Binghani , Jr . Roland E. King

Robert Arvanitis 'I'errence M. O'Brien Williarn J . Bugg, Jr . Jerry E. Lusk

Paul Braithwaite Paul G. O'Connell Edward H . Friend Bartley L. Munson

Vincent P . Connor Vincent T. Rowland Larry M. Gorski Harry L. Sutton, Jr.

Edward W. Ford Walter C. Wright, III Sam Gutterman Gordon R . Trapnell

Robert P. Irvan James W. Yow Thomas L. Handley Norman J Zwitter

Allan M . Kaufman Timothy M . Harl ington

Subcommittee on Liaison with NAICAccident and Health (B) Committee

William J . Bugg, Jr ., ChairpersonWilliam F. Bluhm, Vice Chairperson

Delmar F. Borah John A. HartnedyDorothea D. Cardamone Frank RubinoJudith A. Discenza Thomas J . StoiberMark V . Hartman

Committees

COMMITTEE ON HEALTH AND WELFARE PLANS

This Committee addresses actuarial issues affecting healthand welfare plans. The Committee researches the actuarialaspects of such issues, and prepares statements of positionon pending or potential legislation , regulation and policy .Such statements may be directed to the membership, theBoard of Directors, or for submission to appropriate gov-ernmental or private organizations .

Certain issues on specialty subjects, such as those relatingto actuarial standards of practice, alternate health caredelivery systems and risk classification, are generally referredto the appropriate committee for action .

In coordinating its activities , the Committee maintains liai-son with the Committee on Health, the Actuarial StandardsBoard and other actuarial bodies .

Jeffrey P. Petertil , ChairpersonJohn J . Bauer Adam J.ReeseJohn M . Bertko Carl D . SmithSteven J . Ferruggia Eric L. SmithbackStephen A. Meskin Harvey SobelByron D. Murgatroyd, Jr. George B . Wagoner, JrRichard Ostuw Edward J . WojcikMark D. Peavy

Subcommittee on Benefit Values

Richard Ostuw . ChairpersonByron D. Murgatrovd, Jr . George B . WagonerEric L. Smithback Edward ] . Wojcik

Subcommittee on Retiree Benefits

John M . Bertko, ChairpersonJohn J . Bauer Stephen A. MeskinSteven J . Ferruggia Eric L. Smithback

COMMITTEE ON CONTINUING CARERETIREMENT COMMUNITIES

The function of this Committee is to define and developthe actuarial role in connection with continuing care retire-ment communities. The Committee may prepare state-ments for dissemination to the membership or for thesubmission to governmental entities or to the accountingprofession . The Committee will establish liaison with anddevelop a communications outreach program to the CCRCcommunity .

Alwyn V . Powell, ChairpersonCharles C. DeWeese, Vice Chairperson

Harold L. Barney Robert A. HallChristian J . DesRochers David L . HewittJarvis Farley Leslie E . Korper IICharles E. Farr Bruce L. Workman

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TASK FORCE ON NATIONAL RF'l IREMENTINCOME POLICY

The function of this task force is to explore the desirabilityand feasibility of developing a National Retirement IncomePolicy on behalf of the actuarial profession.

Kenneth A Steiner, ChairpersonJeff Furnish Richard K. KischukStewart Hack Patricia L. ScahillPeter L. Hutchings Larry D Zimpleman

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LIFE PRACTICE AREA UNDER THESUPERVISION OFTHE VICE PRESIDENT

John H . Harding

COMMITTEE ON LIFE INSURANCE

The function of this Committee is to monitor legislativeand regulatory activities in the life insurance area. TheCommittee may prepare statements on life insurance issuesfor dissemination to the membership or for submission toappropriate organizations , both governmental and private .Issues on certain specialty subjects , such as financial report-ing and risk classification , are generally referred to theappropriate committee for action .

John J . Palmer, Cfu irpercon

Committees

JOINT COMMITTEE ON THE VALUATIONACTUARY

This Committee serves as a steering committee to :

1 . communicate and coordinate with non-actuarial audi-ences, such as insurance regulators, the insuranceindustry, and the accounting profession ; and

2. coordinate the work of committees within the actu-arial profession addressing the problems relating tothe responsibilities of the valuation actuary in theUnited States .

Walter S . Rugland, AAA, ChairpersonWilliam Carroll, AAA Richard S . Miller, CAPPDonald D. Cody, SOA Robert A . Miller, III, CASJohn H . Flittie, SOA R. Stephen Radcliffe, AAAHorace W. McCubbin, CIA Donald R . Sondergel, SOA

Jeffrey N. Altman Phillip K. PolkinghornWilliam Carroll Stephen A. J . SedlakDonna R. Claire Ronald L . Stopher PENSION PRACTICE AREA UNDER THEHelen Galt James R. Swenson SUPERVISION OF THE VICE PRESIDENTDavid M Holland Joseph H Tan. . Daniel J . McCarthyEdward P . Mohoric

PENSION COMMITTEECOMMITTEE ON LIFE INSURANCE FINANCIAL

REPORTING

The function of this Committee is to monitor activitiesregarding financial reporting related to life and healthinsurance, review proposals made by various governmentaland non-governmental organizations affecting accountingand auditing issues related to life and health insurance .and generally be responsible for analysis and recommen-dations on life and health insurance accounting issues . Whenappropriate, the Committee will prepare written or oraldiscussion of such issues for presentation .

Paul F. Kolkman, Cli arpersonWilliam T. Bryan Robert W. OmdalDennis L. Carr Barry PaulJ. Peter DuranDouglas A. EckleyLonnie A . EtheridgeJohn T. GlassAllan Hale JohnsonRobert J. LaLondeS. Michael McLaughlinLew H . Nathan

David Y. RogersHoward L . RosenWilliam SchreinerJerome F. SeamanDennis L StanleyDiane WallaceMelville J . Young

This Committee deals with actuarial issues affecting pen-sion plans other than issues related to accounting matters,actuarial standards of practices, and risk classification .

The Committee is charged with carrying out the followingfunctions in so far as each relates to such actuarial issues :

1 . research issues and prepare and present positionstatements on pending legislation and regulations ;

2. coordinate the research and project activities to beundertaken by the actuarial profession ; and

3. recommend policy to the Board of Directors .

In carrying out its coordination function, the Committeemaintains liaison with the Committee on Pensions of theConference of Actuaries in Public Practice and the Com-mittee on Pensions and the Pension Section of the Societyof Actuaries .

John B. Thompson, ChairpersonVincent P. AmorosoSteven BlandThomas J. CavanaughDarrel J . CrtxitKathleen S . ElderJeff FurnishRonald GebhardtsbauerSandor GoldsteinKeith J . GoodellSteven J . HaasDuane F. HanfAllan W. Johnson

Samuel M . KiklaEric P. LotgrenKathryn G. MarticelloWilliam Napoli, Jr.Richard G. RoederRichard G. SchreitniuellerDonald J . SegalRonnie Susan ThiermanJames E . TurpinNancy R. WagnerWallace W. Wilson

Committees

COMMITTEE ON PENSION ACCOUNTING

The function of this Committee is to monitor activitiesregarding financial reporting related to pension plans , reviewproposals made by various governmental and non-govern-mental organizations affecting accounting and auditing issuesrelated to pension plans, and generally be responsible foranalysis and recommendations on pension accounting issues .When appropriate, the Committee will prepare written ororal discussion of such issues for presentation .

Darrel J. Croot, ChairpersonPaul W. Barker Frederick M . GreenSteven Bland James M. JacksonDoris J. Bennett Lawrence A . JohansenThomas J. Cavanaugh David R. KassK. Eric Freden James F . VerlautzBenjamin I. Gottlieb Henry N. Winslow

COMMITTEE ON SERVICES TO ENROLLEDACTUARIES

The function of this Committee is to assist the Board ofDirectors of the Academy in formulating and implement-ing a meaningful program of services to enrolled actuaries .

Kathleen S. Elder, ChairpersonLoyd Hopper Wood C. SisarcickErwin S. Janush Robert D. SteinhornLarry M. O'Maley

COMMITTEE ON SOCIAL INSURANCE

This Committee is to provide and promote actuarial reviewsand analyses of social insurance systems of the United States .Its significant findings will he reported to the Board ofDirectors and may be used to provide information for theAcademy membership or for public expression of profes-sional opinion. The Committee's activities will be coordi-nated with those of corresponding committees of otherNorth American actuarial bodies .

Robert J . Myers, ChairpersonStephen G. Kellison , Vice Chairperson

Francisco R . Bayo Joseph L . PetrelliJames A. Beirne Gregory J. SavordJames M . Berry Bruce D. SchobelBenjamin 1 . Gottlieb Kenneth A. SteinerPeter G. Hendee Hal S. TepferEdwin C. Hustead

15

TASK FORCE ON PENSION PLANTERMINATIONS

Howard M. Phillips, Chairperson

JOINT PROGRAM COMMITTEE FOR ENROLLEDACTUARIES MEETING

This Committee is responsible for the development of aprogram for the meetings for Enrolled Actuaries cospon-sored by the Academy, the Conference of Actuaries inPublic Practice, and the Society of Actuaries .

Neil A. Parmenter, ChairpersonElizabeth C. Berni, Vice Chairperson

Twila C . Bastian Roger N . MariettiBarbara K. Blatt Eugene SchlossDonald R. Fleischer Lawrence] . SherHoward Fluhr Peter D. VerneDouglas C. Holden Richard A. WattsEric P. Larson Vickie N. WilliamsJeffrey A. Levy

16

PROFESSIONALISM AREA UNDER THESUPERVISION OF THE VICE PRESIDENT

Harry D. Garber

COMMITTEE ON DISCIPLINE

This Committee considers directly, or by appointed sub-committees, questions that arise about the conduct of amember in his relationship to the Academy or its members,or in professional practice, or affecting the interests of theprofession, takes action as provided by the Bylaws, andmakes appropriate recommendations and reports to theBoard of Directors .

John A . Fibiger, ChairpersonCecil D. Bykerk James A. MilesSusan ComstockHarry D . GarberArdian C . GillRichard L. HelmsBarbara J. LautzenheiserGeorge S. LingDenis W. Loring

William David SmithRichard M. StensonRobert E. SwettKaren A . UnterremerBernard L. WebbDavid M . WelshWillard Witherspoon, Jr .

COMMITTEE ON GUIDES TO PROFESSIONALCONDUCT

This Committee is responsible for drafting Guides toProfessional Conduct and Interpretative Opinions, and alsofor revising or recommending the elimination of existingGuides and Opinions for action by the Board of Directors .The Committee answers inquiries about professional con-duct, whether of a general or specific nature .

Douglas J . Collins, ChairpersonHarold L. Barney William P. LinkJarvis Farley David M . ReadePatricia Guinn James R . SwensonDouglas S. Haseltine

COMMITTEE ON PROFESSIONALRESPONSIBILITY

Cornrnittees

COMMITTEE ON QUALIFICATIONS

The purpose of this Committee is to identify and recom-mend to the Board of Directors minimum qualificationstandards for members who perform publicly requiredactuarial functions . It would also investigate questions relat-ing to qualification problems and counsel with memberson questions relating to individual qualifications .

James F. Reiskytl . ChairpersonTimothy J . Alfurd John B SnyderJohn K . Booth Michael A. WaltersBurnett Halstead Charles Barrv H . WatsonJoseph J . Leube Walter C. WoodwardWalter S . Rugland

TASK FORCE ON CONTINUING EDUCATIONREQUIREMENTS AND RECOGNITION

Daniel J . McCarthy, ChairpersonIrene K. Bass Ruth F. FrewRobert L. Brown Burton D. JayRay Cole

William David Smith, Chairperson

Committees

COMMITTEES UNDER THE SUPERVISIONOF THE SECRETARY

Virgil D. Wagner

ADMISSIONS COMMITTEE

Under the provisions of Article 1, Section 2, of the Bylaws,this Committee reviews applications for admission and makesrecommendations to the Executive Committee . Such rec-ommendations are based on evidence of the applicant'shaving met educational , experience , and other prescribedrequirements .

Judy A . Faucett , ChairpersonLinda S. Need Steven L . OstlundBruce T. Ogg David W . Simbro

COMMITTEE ON RISK CLASSIFICATION

This Committee has the responsibility for keeping themembership of the Academy advised of major develop-ments relating to risk classification that affect retirementplans, welfare plans and insurance, both governmental andprivate. It may also conduct or sponsor research on issuesrelated to risk classification . It will also prepare reports, asappropriate, on such issues for dissemination to the mem-bership and for submission to appropriate organizations,both governmental and private .

Jean M. Wodarczyk, ChairpersonDavid Christianson Karen PerryJohn F. Fritz W. Keith SloanJoan E. Herman Donald B . ThalerJames B . Keller Richard G. WollJohn J. Kollar Everett D. WongJohn W. Paddon

COMMITTEE ON PUBLICATIONS

This Committee is responsible for all Academy publica-tions .

Roland E King, Chairperson1 .

The Actuarial Update 2 .Editor 3 .

Evelyn Toni Mulder4

Associate EditorsWarren P. Cooper

Charles Barry H. Watson

The Enrolled Actuaries Report

EditorSilvio Ingui

Associate EditorsJan R. Harrington

A. Richard LaBombardeDonald J . Segal

17

EDITORIAL ADVISORY BOARD FORCONTINGENCIES

Roland E. King, ChairpersonDaphne D . Bartlett Dale NelsonFrederick W. Kilbourne Craig A. OlneyEvelyn Toni Mulder Richard S. Robertson

COMMITTEE ON RELATIONSWITH ACCOUNTANTS

This Committee and the parallel AICPA Relations withActuaries Committee provide a constantly available facilityfor communication between the two professions . They meetjointly at regular intervals, as well as whenever specific needarises, to discuss policy matters involving the two profes-sions .

Task forces will operate under the aegis of each profes-sion 's committee, as needed, to work on particular ques-tions . However, this Committee initiates dialogue at anearly stage of any situation involving both professions andprovides a means for anyone in either profession to seekan answer to a question involving the expertise of the otherprofession

Edwin F Boynton, ChairpersonDarrel J. Croot Walter N . MillerWalter J . Fitzgibbon, Jr. Thomas G. NelsonDavid G. Hartrnan LeRoy B . Parks, Jr .Paul F. Kolkman Jerome A. Scheibl

COMMITTEES UNDER THE SUPERVISIONOF THE TREASURER

Thomas D . Levy

BUDGET AND FINANCE COMMITTEE

The duties of this Committee are :

to prepare financial projections ;to prepare the annual budget ;to recommend the dues structure to the Board of Direc-tors; andto develop and maintain the investment policy for Acad-emy funds, such policy to be implemented by the "l'rea-su rer .

Thomas D. Levy, ChairpersonMavis A. Walters William T. TozerCharles A. Bryan Virgil D . WagnerThomas G. Nelson, Jr.

Audit Subcommittee

William T. Tozer, ChairpersonCharles A. Bryan Thomas G. Nelson, Jr.

Committees

JOINT COMMITTEES

COUNCIL OF PRESIDENTS

This is an informal body whose purposes are to coordinateactivities of the actuarial organizations on this continentand to exchange views on current and long-term profes-sional questions . Its membership consists of the Presidentsand the Presidents-Elect of the Academy and of the firstfour bodies listed as "Other Actuarial Organizations" inthis Yearbook .

Allan D. Affleck, SOADaphne D . Bartlett, SOARobert L. Brown, CIAHaroldJ. Brownlee, AAACharles A. Bryan, CASG. Patrick Byrnes, ASPA

Ray Cole, CAPPMichael Fusco, CASPeter C. Hirst, CIAIrwin I . Kent, CAPPAlan J . Stonewall, ASPAMavis A. Walters, AAA

JOINT TASK FORCE ON COVENANT

John H. Harding, ChairpersonDaphne D. Bartlett G. Patrick ByrnesRobert L. Brown Ray ColeCharles A . Bryan Mavis A. Walters

JOINT TASK FORCE ON PROFESSIONALISM

Harry D . Garber, ChairpersonDwight K . Bartlett 111 . Jarvis Farley, AAA, ASPASOA David P. Flynn, CAS

Kenneth T. Clark, David L. Iiewitt, CAPPCIA, CAS Carl Shalit, ASPA

19

ACTUARIAL EDUCATION AND RESEARCH FUND

The Board of Directors is the governing body of the Actu-arial Education and Research Fund . This fund carries outresearch and education projects in the field of actuarialscience and studies specific projects which could be advancedunder this mechanism

Curtis E . Huntington , SOA . ChairpersonStephen 6 Kellison, AAA, SecretaryRandall J Dutka , CIA, Treasurer

R. William Dozier , Jr., Owen A. Reed, CIAAAA Courtland C. Smith, SOA

Fenton R . Isaacson, CAPP Jane C. Taylor, CASJ. Gary LaRose, CAS Charles Barry H. Watson,

( :APP

Committees 21

ACTUARIAL STANDARDS BOARD AND COMMITTEES

ACTUARIAL STANDARDS BOARD

The Actuarial Standards Board (ASB) was established as an independent entity within the Academy on July 1, 1988 . The ASB hasthe authority : to prescribe its own operating procedures ; to establish committees, subcommittees, and task forces it may deemnecessary in carrying out its assigned functions ; and, to appoint individuals to positions on such committees, subcommittees, andtask forces . The foregoing authority may in turn be redelegated by the ASB to its Operating Committees . The Operating Committeesreport to the ASB and function under its direction . The ASB also has the authority (which may not be redelegated) to authorizeexposure of proposed standards and to adopt recommended standards of practice .

The ASB is hereby charged :

I - to direct and manage the development of standards of practice in all areas of actuarial practice ;2. to identify the need for actuarial standards of practice in all areas of actuarial practice ;3. to review standards of practice and determine whether they are in need of amendment, alteration, expansion, or elimination ;4. to cooperate with the Committee on Discipline as requested by the Chairperson of that committee ;5 . to determine whether different categories of standards of practice would be more appropriate ;fi . to develop a uniform format for exposure drafts and standards of practice ;7. to take steps to enhance the current exposure process regarding standards of practice, and to implement or cause to be

implemented ways in which actuaries and other interested parties will more actively participate in the exposure process ;8. to determine appropriate way(s) to publish standards of practice ;9. to promote the value of and adherence to standards of practice ;

10. to develop its own rules of procedure for organizations which arc riot in conflict with the requirements in its plan of operation ;and

11 . to take all steps necessary to accomplish the other specific tasks in its plait of operation .

Walter N. Miller, ChairpersonJack M. Turnquist, Vice ChairpersonGeorge B. Swick, Vice Chairperson

E. Paul Barnhart James C . HickmanGary Corbett Frederick W . KilbourneWillard A. Hartman P. Adger Williams

CASUALTY COMMITTEES OF THE ASB

In accordance with procedures prescribed by the ActuarialStandards Board , this Committee is to develop actuarialstandards of practice in the property and liability insurancearea .

Michael J. Miller, ChairpersonMartin Adler Steven L . Groot

Subcommittee on RatemakingLeRoy A. Boison, Jr ., Chairperson

Subcommittee on ReservingJames A. Faber, Chairperson

Subcommittee on ValuationDouglas J. Collins, Chairperson

James R. Berquist James A. Hall, IIIRichard Beverage E. LeRoy HeerRichard S . Biondi Bertram A . Horowitz HEALTH COMMITTEE OF THE ASBLeRoy A . Boison, Jr . Eldon,i . Klaassen In accordance with procedures prescribed by the ActuarialDouglasJ. Collins R Michael Lamb. Standards Board, this Committee is to develop actuarialJames A. Faber Robert J . Lindquist standards of practice in the health field .Daniel J . Flaherty Jerry A. MiccolisDavid P. Flynn Robert A. Miller, III Larry M . Gorski, ClurnpersonSpencer M . Gluck Gary K. Ransom Herbert A. Fritch James L PurdyRobert W. Gossrow Alfred O. Weller Spencer Koppel Robert J . SchulerDavid J . Grady Paul E. Wulterkens William H . Odell Richard J . SheplerGary Grant David F. Ogden Allen J. Sorbo

John A. Price Joe P. Sternfeld

22

LIFE COMMITTEE OF THE ASB

In accordance with procedures prescribed by the ActuarialStandards Board, this Committee is to develop actuarialstandards of practice in the life insurance area .

Harold G. Ingraham, Jr ., ChairpersonTimothy F. Harris James B . MilhollandBurton D. Jay Edward S. SilinsPaul F. Kolkman Donald R . SondergeldRobert W. Maull William T. Tozer

PENSION COMMITTEE OF THE ASS

In accordance with procedures prescribed by the ActuarialStandards Board , this Committee is to develop actuarialstandards of practice in the pension area .

Richard G. Roeder, ChairpersonLa It Bachan Kenneth W. PorterRobert S. Byrne, Jr. Harry S. PurnellAnthony C. Deutsch John A . SteinbrunnerSilvio Ingui William C . SpencerJudith E. Latta

RETIREE HEALTH CARE COMMITTEEOF THE ASB

In accordance with procedures prescribed by the ActuarialStandards Board, this Committee is to develop actuarialstandards of practice in the retiree health care and deathbenefits area.

Kenneth W . Porter, ChairpersonAlan S . BreitmanJohn D. BohonHarry A. DonSteven J . FerruggiaRobert W. HaverJohn Patrick Kinney, III

Joseph P. MacaulayStephen A. MeskinGeorge J . RoccasDonald E. SanningIrwin J . StrickerBernard J . Villa

Committees

SPECIALTY COMMITTEE OF THE ASB

In accordance with procedures prescribed by the ActuarialStandards Board, this Committee is to develop actuarialstandards of practice in areas not addressed by the Com-mittees above .

Jarvis Farley, ChairpersonSteven A. Harrold Robert J . MyersPhillip D. Miller Richard S. Robertson

TASK FORCE ON LONG-TERM CARE

In accordance with procedures prescribed by the ActuarialStandards Board, this Task Force is to develop actuarialstandards of practice in the area of long-term care .

Bartley L. Munson, ChairpersonDonald M. Charsky Edward A. MurphyAbraham S. Gootzeit Dennis M . O'BrienJames T. Helton Gerald R. SheaJohn Patrick Kinney, 111

EDITORIAL ADVISORY COMMITTEE OF THE ASB

Mary S. Adams, CfuiirpenmiCharles E. Farr Jerome A. Scheib]

Committees

LIAISON APPOINTMENTS

LIAISON MEMBER ON THEEDUCATION POLICY COMMITTEEOF THE SOCIETY OF ACTUARIES

Peter Hepokoski

LIAISON MEMBER ON THE EDUCATIONPOLICY COMMITTEE OF THE

CASUALTY ACTUARIAL SOCIETY

23

Gustave A. Krause

24 C anmiittee Appointment Guidelines

COMMITTEE APPOINTMENTGUIDELINES

PREAMBLE

In accordance with the Bylaw-, of the Amei ican Academy of Actuaries, the President appointscommittees authorized by the Board of Directors . "I'o aid the President in making suchappointments the Board adopted the [allowing guidelines with this preamble at its meetingon October 31, 1980 . "These guidelines reflect the Board's intention to in-, olve as many membersas possible in committee activities without sacrificing continuity . However. the effectiveness ofcommittee work is paramount and as a consequence strict adherence to the guidelines is notexpected, particularly with respect to committees that interface regularly with other professionsand/or government .

Committees for which specific appointment rules are established by the Board (e .g. Nominat-ing Committee, Actuarial Standards Board) are exempt from the guidelines Appointmentsto joint committees and liaison appointments are subject to the guidelines applicable to standingcommittees, although certain of the liaison appointments must be Board members pursuantto Academy policy and agreements with other organizations .

GUIDELINES

(1) All members of the Academy are eligible to serve on committees .

(2) An officer of the Academy should not serve on any connnittee except In an ex officiocapacity .

(3) A person should be chairperson of a standing committee lit no moi c than three yearsand should retire from the committee after ser~nig as chau person

(4) A person should remain on a standing committee for no more than three years unlesssuch person becomes chairperson by the end of that period

(5) In general, a person should not set tie concurrently an more than one sianding com-mittee

(6) In general, a person appointed to a task force or a special committee is expected toserve until the task force or special committee is discharged .

Past Officers

PAST OFFICERS

25

I965-66 1966--67 1977-78 1978-711Henry F Rood President Thomas E Murrin Ed%%in F. Boynton Pii'w,I, tit Dale R Gus6dsnttThomas E Murrin President-Elect John H Miller Dale R ( : ustalson Prr,idnit-E'lert Ronald 1 . BonrhueuerFrank j Gadtent Vice Presidents Frank J . Gadtent Ronald L Bornhuettci I'ts . Pi . sulrnh l'rctiton ( . BasscuLaurence H Longley-Cook Laurence H Longley-Cook Louis G.ufill Chaulcs C Hcwitt . JrJohn H Miller H Raymond Strong I'rtstonC Hassell licibeir L Del'rurgerH Raymond Strong Andrew C Webster Charles C Hew itt, J I Wahu L ( .lairGeorge M Bryce Secretary Norton E . Master son Dwight K Bartlett III 'So uriary Dwight K . Bartlett IIIRobert E Bruce Treasurer Robert E Bruce James O. Webb 7itasult•r Kevin NI Rsan

1479-811 1980-8 11967-68 1968-69 Ronald L But nhucncr Pi ',rdent Walter L ( :race

John H Miller plesidrnt W'endell Millrntan Walter I Grace Prt,rdrrit-Flirt William A I lalsorsonWendell Milliman Pieude,i -Elect Walter L. Rugland Mar. H Adams I'ue Presdents Richard S RobertsonEdward D Brown, Jr lire F'rrvdents Edward D Brown, Jr. Herbert L Del'renger 1' Adger Willr,nns

William J . Leslie, Jr . William I Leslie, Jr Richard S Rubei tson A Norman Crowder IIIFrank J Gadient Paul F Rotter P Adger Williams Bartles 1 . Munson

Allen L Mavcrson Harold W Schloss Char les B H Watson Srurttut ( . liatles B H WatsonNorton E Masterson Secretary Notion E Masterson Kevin M Rsan heaw?rr Kevin NI Rsan

Robert E. Bruce Treasurer RobertE Bruce

1981-82 1982-831969-70 19711-71 William A Hadsorson Pi'Os/nrrt 1' Adgct Williams

Walter L Rugland Presrdr•rit H Raymond Strong P Adger 1Villiants President-lam A Norman Crowdei III11 Raymond Strong Prestrlerd-Elect Robert J . Myers A Norman Crowder III Iite Pisuideirts David R (,.It pcnteiPaul T Rotter I'irePrrsidoild Donald F ( .anrphell Bartles L Munson William A Fei gus iiiHarold W Schloss John K Dyer David R Carpenter John A . FrbrgeiDonald F (•ampbell llatold L ( .cars William A Fer guson Walter S RuglandRobert J IVisets Morton 1) Miller ( ..it[ R . Ohman Sir t t ote' Cat I R. OhnianNorton E. Master son senetrrci William A H .ilvorson W James Nfac(*-ininhc Tira,arri W James Ma(GninioeRolerI F Brute Ticiain"I Robert E BI ure

1983-84 1984-8 .51971-72 1472-73 A Norman Crossder III Prr,iden/ NI Stanles Ilughes

Robert J . Myers President Mutton D Miller M Staulc's Hughes Preodesl-Elect Battles L MunsonMorton D Miller 1'iwrderrt-l• Irri Ernest J Moorhead John A I'rhrger I'rre Pie,iderds David G I larrm,mHarold E Curry I ill, President, Robert E Bruce NNaltei S Ru1 ;laml David M ReadcEi nest J Moorhead Julius Vogel Dasid G Haitman Harold J BrossnlecRobert E Bruce Reuben I Jacobson Dasrd AI Readc (bat I R. OhnianJulius Vogel Dani el I M(Nau iara Call R Ohman Se, tun Robert H . DobsonWilliam A . Halvorson Ser) etun William A Hahorson Burton D Jar Ticliiirri Burton D Jas

Dale R . Gustafson Treasruer Dale R Gustafson

1985-86 1986-871973-74 1474-75 Bartley L Munson Prr,ident Prestnu ( . Bassett

Ernst J . Moorhead President Daniel J MrN :mlara Preston C Bassett Presu(rril-Fleet John A . FibigeiDaniel I McNamara 1'ie,rderrt-Llrrt Thomas P Bowies, Jr. Harold J Browiilee I'i' Piesrdrmts hrlssaul ii Frrcod

William A . Halvorsun I ire Pres idents Richard L Johe Edward H Friend NV Jantcs blarGmtritreReuben I Jacobson Robert C Winters W James hlat( : rmntt( Burton D Jas

Thomas P Bowles, ]r Echs iii F Bovnton Carl R Ohman Masts A Walters

Richard L Johe Kenneth H Ross Robert H Dobson Si•r, tail RobviI H .I)obson

Walter S . Rugland SerrrIiov Walter S Rugland Burton D Jar Treasrurr Daniel I MiCaithyDale R Gustafson Tirrasiirrr Dale R. Gustatstnr

1'187-88 1488-89

1975-76 1976-77 John A Fibiger I'resrdrrd W J.rrucs M .it(airrn tic

Fhomas P Bowler, Jr President Robert C. Winters IV James NlacGilillide Piesrdrrd-Elm Harold I Brownlee

Robert C Winters President-Elect Edwin F Boynton I'hdlip N_ Bcn-/vi I'nr Pit sulr'nt, Phillrp N Ben-Zvi

Edwin F. Boynton Vice Presidents Dale R . Gustafson Burton 1) Jas H,rrpen L . Gar melt, Jr

Kenneth H . Ross M Stanley Hughey Joseph J Stahl II John 11 liar clingDale R Gustafson Ronald L. Bornhuetter Masts A Wallet s Joseph J St,ilil 11M Stanley Hughey Louis Garfin Vu gil I) W agnct SerroGrn Vuvil 1) . WagncrWalter S . Rugland Secretary Ralph E Edwards Daurcl J Mi..Carths Treauael Daniel J M1it(, .uthy

James 0 Webb Treasurer James 0 Webb

26

MEETINGS CALENDAR

ANNUAL MEETING

1990 Ramada Renaissance TechWorldSeptember 26 Washington, D.C .

CASUALTY LOSS RESERVE SEMINAR

1990 Hyatt Regency DFWSeptember 10-11 Dallas. Texas

1991 Crystal Gateway MarriottSeptember 23-24 Crystal City, Virginia

ENROLLED ACTUARIES MEETING

1990 Sheraton Washington HotelFebruary 14-16 Washington, D.C.

1991 Sheraton Washington HotelMarch 13-15 Washington, D.C.

Meetings Calendar

Membership Statistics 27

MEMBERSHIP STATISTICS

SCHEDULE OF MEMBERSHIP

Particulars Number

Membership as of November 1, 1988 9,114Increases :Admissions . . . . . . . . . . . . . . . . . . . . 365Reinstatements 15

Decreases .Deaths . . . . . . . . . . . . . 51Withdrawals . 47

Membership as of November 1 . 1989 9,396

ANALYSIS OF MEMBERSHIPBY TYPE OF EMPLOYMENT

Membershi

Type of Employment

As ofNovember 1,

1987

As ofNovember 1,

1988

As ofNovember 1 .

1989

Insurance organization 4,065 1,160 4,183Consulting actuary 3,552 3,722 3,871Government . . . . 63 67 143

Academic institution . . 35 38 42Other . 311 318 255Retired or not known 771 809 899

Total 8,797 9,114 9,396

MEMBERSHIPS HELD BY ACADEMY MEMBERSIN CASUALTY ACTUARIAL SOCIETY (CAS),CONFERENCE OF ACTUARIES IN PUBLIC

PRACTICE (CAPP), AND SOCIETYOF ACTUARIES (SOA)

As of November 1 . 1989

CAS CAPP SOA TOTAL

Meinbet sIn all three . . . . . 16 16 16 16

GAS and CAPP . 55 55 - 55GAS and SOA . . . . . . 69 - 69 69CAPP and SOA - 699 699 699

In one only . . . . 1,085 184 6,295 7,564

In none - - - 993

Total . . . . . 1,225 954 7,079 9,396

ACADEMY MEMBERS WHO AREENROLLED ACTUARIES

As of November 1, 1989

CAS CAPP SOA TOTALMembers

[n all three . . . . d 9 9 9

GAS and CAPP . . . . 2 2 - 2CAS and SOA 8 - 8 8C:APP and SOA 579 579 579

In one only . . . . . . . . . . . 3 114 2,036 2,153

In none . . . . . . . . - - - 778

Subtotal . 3,529

Non-Academy Enrolled -Actuaries 622

Total EnrolledActuaries, . . 22 704 2,632 4,151