2015 ANNUAL REPORT - The Actuarial Foundation...Sr. Managing Actuary, Financial Reports Liberty Mutual Agency Markets Robert V. Deutsch, FCAS, ASA, MAAA Chief Strategy Officer Hamilton

Mission: To enhance math education and financial literacy through the talents and resources of actuaries.

Vision: An educated public in pursuit of a secure financial future.

Preparing for tomorrow’s possibilities® through education

2015 ANNUAL REPORT

The Actuarial Foundation 2 2015 Annual Report

Dear Friends of the Foundation:

The Actuarial Foundation is committed to making a difference through education. This commitment is showcased by the work the Foundation accomplished in 2015. In looking back over the year’s achievements, I am proud of the progress the Foundation has made. Our program areas have continued to grow and evolve over the last year, creating more opportunities for the Foundation to serve the public and the profession.

Highlighted throughout this report are the events that shaped 2015 and contributed to the success of The Actuarial Foundation. Through the continued generosity of our individual and corporate donors and the dedication of our volunteers, we are increasing public awareness of the actuarial profession and advancing math education and financial literacy. Here are just a few examples of what your support helped the Foundation to accomplish in 2015;

• We introduced the actuarial profession and awarded scholarships to junior and senior high school students through the Project Math Minds mathematical research competition;

• We collaborated with Scholastic to provide over 400,000 teachers with our latest middle school math resource – an interactive module to teach ratios and proportions;

• We funded scholarships for fifty-one students pursuing studies in math and actuarial science and;

• We partnered with the Federal Alliance for Safe Homes (FLASH) to update, reprint and distribute the well-known Disaster Guide.

Each of these achievements leave the Foundation well-positioned for tomorrow’s possibilities and would not have been achievable without your support. On behalf of the Board of Trustees, I congratulate the donors, program sponsors, staff and volunteers for contributing to another year of successes for The Actuarial Foundation. To each of you, I extend my heartfelt thanks.

Sincerely,

Helen Galt, FSA, MAAA, CERA 2015 Chair

Thank You, Volunteers!Due to the tremendous number of dedicated individuals who have given their time to support the Foundation’s

mission and programs, it is impossible to list them all here. The Foundation sends its highest appreciation

to each and every person who gave of their time. You can see the names of everyone who volunteered at

www.ActuarialFoundation.org/about/volunteers.shtml.

Helen Galt

A MESSAGE FROM THE CHAIR


2015 BOARD OF TRUSTEES

ChairHelen Galt, FSA, MAAA, CERA Retired

Chair-ElectDouglas A. French, FSA, FCA, FIAA, MAAAManaging Principal – IAAS Ernst & Young

Secretary-TreasurerJacques Goulet, Jr., FSA, FCIAPresident-Retirement, Health, and Benefits; Senior PartnerMercer

Ronald E. Bachman, FSA, MAAAPresident & CEO Healthcare Visions

Cecil D. Bykerk, FSA, FCA, MAAA PresidentCDBykerk Consulting, LLC

Thomas R. Corcoran, FSA, MAAA, CERA DirectorWillis Towers Watson

Kevin A. Cormier, FCAS, MAAASr. Managing Actuary, Financial ReportsLiberty Mutual Agency Markets

Robert V. Deutsch, FCAS, ASA, MAAA Chief Strategy Officer Hamilton Insurance Group

Brian Donlan, FCAS, MAAASenior ActuaryAllstate Insurance Company

John W. Ehrhardt, FSA, EA, MAAAPrincipal & Consulting ActuaryMilliman Inc.

David J. Fishbaum, FSA, FCIA, MAAAManaging PartnerOliver Wyman

James M. Forbush, FSA, EA, MAAAPartnerAon Hewitt

Michael Fusco, FCAS, CERA, MAAA SVP & Chief ActuaryArgo Group

Maureen Hager, Ed.D. Retired Superintendent of Schools

Sarah J. Hamid, FSA, FCIA, MAAAVice President and ActuaryPrudential Financial

Jane L. Hamrick, FSA, MAAAVice President & ActuaryNew York Life Insurance Co.

Barry Jacobson, FSAMath Teacher Simsbury High School

John J. Kollar, FCAS, MAAA 2012-2014Retired

Warren Luckner, FSA, MAAA, CFA Retired

Charles Marino, FSA, MAAAVP, Chief Actuary, Individual Life Guardian

S. Michael McLaughlin, Jr., FSA, FIAA, MAAA, CERAMcLaughlin Actuarial Consulting

Joseph A. Nichols, ASA, EA, MSPA, MAAASenior DirectorFTI Consulting

Lisa M. Pawlowski, FCAS, MAAASVP, Head of Transactional PricingZurich

David K. Sandberg, FSA, CERA, MAAAVP & Corporate ActuaryAllianz Life Insurance Co. of North America

Steven Schreiber, FSA, MAAA Consulting ActuaryMilliman, Inc.

John J. Schubert, ASA, MAAA, FCA Specialist LeaderDeloitte Consulting LLP

Carol R. Sears, FSPA, FCA, MAAA, CPC, EA Principal & Consulting ActuaryActuarial Consulting Group, Inc.

A. Greig Woodring, FSA, MAAAPresident & CEORGA

Dale H. Yamamoto, FCA, MAAA PresidentRed Quill Consulting, Inc.

Amanda E. Young, FSA, MAAA ActuaryNorthwestern Mutual

2015 EMERITUS TRUSTEES

Bob Anker, MAAA, FCAS Quay Quest

Craig M. Baldwin, FSA Retired

Edward W. Bales Learning Training & Education

Albert J. Beer, FCAS, MAAA St. John’s University-The Peter J. Tobin College of Business

Paul Braithwaite, FCAS, MAAA FTI Consulting

Suzanne Chapa, FSA, MAAA North American Co. for Life & Health

Pamela ConeMilliman, Inc.

Robert F. Conger, FCAS, MAAARetired

Michael J. Corey MJC Ventures, Inc.

A. David Cummings, FCAS, CPCU, MAAA ISO Insurance Programs and Analytic Services

Sam Gutterman, FSA, FCAS, MAAA, FCA Retired

Curtis D. Hamilton, MSPA, EA, MAAATRI-AD

David G. Hartman, FCAS, MAAA, FCIARetired

David M. Holland, FSA, MAAARetired

Gary R. Josephson, FCAS, MAAARetired

Joseph W. Kelly, FCA, ASA, EA, MAAADeloitte Consulting LLP

Barbara J. Lautzenheiser, FSA, MAAA Lautzenheiser & Associates

Joseph J. Leube, EA, FSPA, MAAA Retired

W. James MacGinnitie, FSA, FCAS, FCA, MAAA Retired

Cynthia Miller, FSA, MAAA, CERARetired

Kathy Olcese, FCASZurich

Arthur Panighetti, FSA, MAAA Pacific Life Insurance Company

Anna Rappaport, FSA, MAAA Retired

Rodney R. Rohda, FSA, MAAA Retired

Charles E. Rohm, FSA, MAAA Retired

Ian Rolland, FSA, MAAA Fort Wayne National Bank

Walter S. Rugland, FSA, MAAA Retired

Robert D. Shapiro, FSA, MAAA The Shapiro Network, Inc.

Frederick J. Sievert, FSA, MAAARetired

Michelle D. Smith, FSAGoldman Sachs & Company

Robert W. Stein, FSA, MAAA Retired

Thomas C. Sutton, FSA, MAAA Retired

Dorn Swerdlin, FSA, MAAA, MSPA, FCA, EASwerdlin & Company

Patricia A. Teufel, FCAS, MAAARetired

James A. Tilley, FSA, MAAA RetiredMavis A. Walters, FCAS, MAAA Retired

Robert C. Winters, FSA, MAAA Retired

2015 BOARD OF TRUSTEES


WHAT YOU MADE POSSIBLE...

The latest edition in the Expect the Unexpected with Math® series, Designing RATIOnally, was released to over 400,000 middle school math teachers.

7 career changers, including Wendy Windsor, made the transition to the actuarial field with the help of the Actuary - A Career Change: The Elizabeth M. Mauro Reimbursement Program.

“I’m really proud that the competition appealed to a number of high school juniors and seniors, challenging them to focus their energy on solving a real-world math problem and helping them to understand what it is to be an actuary.”

-Kevin Cormier, 2015 Project Math Minds Chairperson

“The updated Insurance Guide, made possible by The Actuarial Foundation, is one of our most popular resources. We provided copies of the Guide to every governor, insurance commissioner and chief meteorologist.”

-Leslie Chapman-Henderson, President/CEO, Federal Alliance for Safe Homes (FLASH)

Mission: To enhance math education and financial literacy through the talents and resources of actuaries.

Vision: An educated public in pursuit of a secure financial future.

“My students are the students who struggle with mathematics and finding a course like Building Your Future that can actually help them with their everyday life is critical to their success.”

- Teacher, Department of Math and Computer Science

51 aspiring young people were awarded with a Foundation scholarship.

SOPHOMORES

Karina CuadroTemple University

Shelby AllenMichigan State University

Stephanie LeeUniversity of California-

Santa Barbara

Gabrielle MossJohns Hopkins University

Anthony PullanoDrake University

Aaron PuntrianoIllinois State University

Alicia NguyenUniversity of Wisconsin-

Madison

FRESHMEN

Amauir RossDartmouth College

Omari WilliamsUniversity of

Central Florida

Edgar Zimmerman, Jr.University of North Carolina-Charlotte

Nyambe Kema Tuchscherer

University of Notre Dame

Zachary HerreraUniversity of St. Thomas

Frederick GillespieCarleton College

Myranda FloresUniversity of California-

Santa Barbara

Akin BruceRice University

Andres Estevan CanasUniversity of Florida

2015 Scholarship WinnersActuarial Diversity Scholarship

“I am very fortunate to have this kind of

support from the Foundation. It allows me to

focus solely on my studies without worrying

so much about financing my education.”-Ilya DaCosta

“I am grateful to be chosen for the 2015-2016 Actuarial Diversity Scholarship.

This scholarship will aid me in advancing my studies in mathematics and statistics

to obtain an actuarial designation in the future.”

-Nikaya Smith

JUNIORS

Daniel Dean Braga AlonzoUniversity of

California-Berkeley

Christopher CerpaUniversity of Connecticut

Albert AppouhRutgers University

Juanita FatolaBaruch College

Shierly Rivera-GuzmanUniversity of

Texas- San Antonio

Evelyn MutagaywaDrake University

Jevaughn WilliamsSt. John’s University

Joel Pettus IIIButler University

Lindsey WhitingUniversity of North Texas

Nikaya SmithThe University of North

Carolina-Chapel Hill

George K KamauMaryville University

Abena D. AduseiMorgan State University

Ilya DaCosta Florida State University

Kristina HendersonMaryville University

SENIORS

Michelle MuzuluDrake University

Andrew LearUniversity of Pennsylvania

Keric RolleUniversity of Nebraska-

Lincoln

Lenin SandovalUniversity of Illinois at

Urbana-Champaign

Jordan SchwartzUniversity of Wisconsin-

Eau Claire

Yves Justin Tiendrebeogo

Robert Morris University

Tano ToussaintUniversity of Georgia

Makisha WilliamsMilwaukee School

of Engineering

David A. Ariyibi, Jr. Williams College

“…a good starting point on many topics of universal interest.”

“Extremely reader-friendly and non-technical enough that I have shared with my young adult children.”

“Very useful. Great selection of topics – like the diversity and the practicality.”

F I N A N C I A L --------------------------------- Smarts

Preparing for tomorrow’s possibilities® through education 475 N. Martingale Rd., Ste. 600, Schaumburg, IL 60173 www.ActuarialFoundation.org

Estate Planning

F i n a n c i a l I n f o r m a t i o n Y o u C a n U s e

Fall 2015

This newsletter is intended to provide general information and should not be used as a substitute for legal or other professional advice.

Why do I need an estate plan?

Your estate plan is your only opportunity to control the disposition of your assets, provide a set of rules for your health care decisions, and name the people whom you trust to handle these matters. In other words, your estate plan is where you set out the rules and choose your referees to best minimize the chances of a future disagreement.

What is estate planning? In short, estate planning is the process of thinking about your goals and objectives as they relate to your assets, your health care, your children and your family. An estate plan is completed with the signing of a series of documents which ensure that your wishes are carried out.

More specifically:

1. As it relates to your property, you plan for the accumulation, management and ultimate distribution of your assets (a.k.a. your “estate”) and consider estate tax and generation skipping transfer tax issues.

2. As it relates to your health, you make certain decisions relating to your health care such as who will make decisions for you if you are unable to, how much authority you want to give those people and whether you want to authorize organ donations.

3. As it relates to your children, you name the people who will care for your minor children (or your adult children who are disabled) if you are unable.

4. Additional estate planning goals are, among other things, to (a) avoid the probate court system, (b) provide for asset management if you become incapacitated, (c) carry out your charitable wishes.

During the estate planning process, you will contemplate these issues and make decisions based on your personal goals and beliefs, your family and your assets. You have an “estate plan” when you sign a set of documents that will carry out these goals and beliefs.

Subscribe to Financial Smarts! www.actuarialfoundation.org/

FinancialSmarts

Special Situations

Your estate plan can also address certain issues, including:

1. Disposition of special personal property like family heirlooms;

2. Taking care of blended families;

3. Succession planning for family owned businesses;

4. Administration of vacation property where more than one family member desires to receive the property;

5. Taking care of pets following the death of the owner.



Lump Sum Option


Spring 2015


How do I know if I can elect a lump sum under my employer’s plan?

You can learn well ahead of your retirement whether a lump sum option is available. The best way is to review the Summary Plan Description (SPD) which you were provided by your employer. When you are actually eligible to start collecting retirement benefits, you will be provided with a benefit election form. This form will detail the options you are eligible to consider with the actual dollar amounts. If a lump sum is available, it will be included.

What is a lump sum option? Traditional pension plans are designed to pay a monthly pension for the life of the retiree and, in many instances, the life of a spouse should the retiree die first. Depending on the type(s) of retirement plan(s) you have, you may have a choice when it comes to electing your distributions. As an alternative to a guaranteed lifetime pension, some pension plans offer a lump-sum option. This means that instead of the monthly pension payment, the retiree takes a one-time lump sum based on a number of calculations (see below). With the lump-sum option, the retiree assumes the longevity and investment risk that the employer would usually assume with a traditional pension plan.

How is the lump sum calculated? Under a traditional defined benefit plan, the lump sum is determined using actuarial calculations specified under the plan. These calculations must also satisfy rules established under the law and are regulated by the Internal Revenue Service. The calculations are based on mortality tables and interest rates. Because both interest rates and mortality tables change, the factors may also change. These calculations are applied to the monthly pension earned to determine the lump sum. Under a cash balance plan, the lump sum is the amount that has been credited to your cash balance account. The annuity pensions available are calculated by applying actuarial factors to the lump sum.

What do I do with funds if I choose the lump sum? In order to avoid current taxes, the funds could be directly rolled over to an IRA. Then, to help you establish how the funds will be invested and withdrawn to support you in retirement, you may want to consult with your financial advisor to devise a plan that fits your requirements.


FinancialSmarts

How are benefit plans protected? If you are concerned about the security of lifetime annuities, there are many laws that help to ensure that you will receive your benefits as set out in your employer’s plan. These laws include requirements that employers fund the plan as well as the Pension Benefit Guaranty Corporation, an insurance program managed by the federal government.



Pet Insurance


Winter 2015


5 Pet Insurance Quick Facts

1. Pet insurance has been available in the United States since 1982.

2. Over 1 million pets in North America are insured.

3. 1 in 3 pets will have an unexpected vet bill each year.

4. You can visit any licensed veterinarian. Pet insurance has no networks.

5. Most pet health insurance companies cover cats and dogs, but pet health insurance is also available for exotic pets and horses.

What is Pet Insurance?

Pet insurance is health insurance to help you pay for your pet’s veterinary care in the event of a costly accident or illness. With pet insurance, you never have to choose between the health of your bank account and your pet’s life.

There are lots of pet insurance plans available, but they aren’t all the same. There are differences in what they cover, what they exclude, what they cost, their level of customer service, and how they pay claims. In other words, spend time to investigate all of your options!

What does pet insurance cover? Pet insurance plans may cover:

Treatment for accidents and illnesses Treatment of genetic, chronic, or congenital conditions Exam fees, laboratory and diagnostic tests, surgery, and

hospitalization Prescription medications Alternative therapies

Pet insurance plans typically will not pay for: Pre-existing conditions – conditions that your pet was diagnosed

with or showed symptoms of before enrolling or during the waiting period

Routine wellness care costs (although some companies have optional add-ons for this)

Cosmetic, elective, or preventative procedures (just think tail docking and wellness visits)

Veterinary fees related to pregnancy, breeding, or whelping

So, what is it going to cost me? The cost of pet insurance varies based on the type of pet you have (species, breed, age, & sex), your location, and the level of coverage you choose. Adding on a wellness plan for routine care expenses typically costs a little more. You shouldn’t compare pet insurance plans based on price alone, though. Plans that cost more, often cover more, so consider what coverage is important to you and shop for that.


FinancialSmarts

Routine Care Coverage

Pet insurance is for the unexpected, so it doesn’t cover the expected routine care items like yearly exams, spay/neuter surgery, rabies vaccinations, and flea/tick/heartworm preventatives; however, some pet insurance companies offer a wellness add-on to their insurance coverage that can help you pay for these types of preventative care costs. When getting a pet insurance quote, you may want to ask if the company offers a routine wellness care option if that’s something that interests you.



Reverse Mortgages


Summer 2015


How does a homeowner become eligible for a reverse mortgage?

To be eligible for a reverse mortgage, the homeowner must meet the following requirements: They must be 62 or older. They must own their home

outright or have a low mortgage balance that can be paid off with reverse mortgage proceeds.

The homeowner must have the financial resources to pay ongoing expenses such as insurance and taxes.

The homeowner must live in the home.

What is a reverse mortgage?

With the current economy in a state of flux, a reverse mortgage is often advertised as an affordable retirement option for homeowners. A reverse mortgage is a special type of home loan that lets the homeowner convert a portion of the equity in their home into cash. Many people spend the majority of their lives building up equity in their homes and with a reverse mortgage, some of that money may be accessed. Unlike traditional home loans or second mortgages, the money obtained from a reverse mortgage does not have to be paid back until the following conditions are met:

The borrower no longer uses the residence as their primary residence

The borrower sells the home The borrower passes away

How does a reverse mortgage work? A traditional loan or a second mortgage requires a borrower to make monthly payments to the lender. The opposite is true for a reverse mortgage. That is, the borrower receives money from the lender. There are several ways the money can be received. These are explained further in the “How to Take Your Money Out” section of this newsletter.

Other important details are as follows: Usually distributions are tax-free. Many reverse mortgages do not have an income restriction. Before applying for most reverse mortgages, a borrower must

meet with a counselor. The counselor will explain the mortgage costs, financial implications and possible alternatives to a reverse mortgage.


FinancialSmarts

How is the amount of money obtained from a reverse mortgage determined?

Several items are taken into consideration when determining the amount of money available from a reverse mortgage: The age of the borrower The type of reverse mortgage

selected The appraised value of the

home Current interest rates


Through the dedication and generosity of actuaries and corporate partners, the programs of The Actuarial Foundation have made a difference in the lives of students, teachers, consumers and actuaries. Below are some examples of what you helped us to accomplish in 2015.

Youth Programs - inspiring a new generation of math-skilled thinkers.

• With generous support from Prudential Financial, we completed the first pilot of Project Math Minds, a mathematical research competition introducing the actuarial profession to high school students. Students completed an actuarial project for the opportunity to win a college scholarship. Projects are developed and evaluated by actuaries.

• The Building Your Future financial literacy resource has reached over 14,000 high school teachers and students.

• Four schools received an Advancing Student Achievement math grant. Volunteer actuaries help in these schools to demonstrate how math skills are used in everyday life.

Consumer Financial Education Programs - employing actuarial skills in the public interest.

• The Financial Smarts newsletter is a one-page tip sheet written by volunteer actuaries providing information on a wide range of topics requested by consumers. In 2015, Financial Smarts offered insights on pet insurance, lump sum option, reverse mortgages and estate planning.

Research, Awards & Prizes - recognizing those whose work is advancing the skill set of the profession.

• In joint sponsorship with The Actuarial Foundation, The Casualty Actuarial Society, The Society of Actuaries and The Actuarial Foundation of Canada, 9 projects received research grants in 2015.

• At the July 2015 Board Meeting, Trustees voted to discontinue the Foundation’s participation in the Individual Grants Competition. The main reason for this decision was a lack of fit with the Foundation’s mission to enhance math education and financial literacy through the talents and resources of actuaries.

• Joshua A. Shapiro, FSA, EA, MAAA was the 2015 recipient of the Wynn Kent Public Communication Award. Jonathan Forman and Michael Sabin were the 2015 recipients of the John Hanson Memorial Prize. Neil Allen, Neil Cantle, ASA, FIA, and Christos Ellinas were recipients of the ERM Research Excellence Award in Memory of Hubert Mueller.

Scholarships – opening doors to the actuarial profession.

• The Actuarial Diversity Scholarship, the Actuary of Tomorrow – Stuart A. Robertson Memorial Scholarship, the Curtis E. Huntington Memorial Scholarship and the Caribbean Actuarial Scholarship awarded a total of 51 scholarships in 2015.

• The Actuary – A Career Change: Elizabeth M. Mauro Reimbursement Program awarded 7 individuals making the transition to the actuarial profession.

For the latest information on the Foundation and each of its four program areas, visit

www.ActuarialFoundation.org

What You Made Possible

The 2015 Project Math Minds competition winners from Manalapan High School.

Hope Academy, an ASA grant school, took students on a math

retreat.

Joshua Shapiro, FSA, EA, MAAA accepts the Wynn Kent Public Communication Award from Carol Sears, FSPA,FCA, MAAA,

CPC, EA

Roy Ju, recipient of the 2015 Actuary of Tomorrow – Stuart

A. Robertson Memorial Scholarship and the Curtis

E. Huntington Memorial Scholarship


BALANCE SHEETASSETS

Cash and cash equivalents $ 243,710Investments 5,375,576Contributions receivable 142,838Prepaid expense 4,505Fixed assets -- Total Assets $ 5,766,629

LIABILITIES & NET ASSETSLiabilities

Accounts payable $ 198,553Deferred revenue – sponsorships Total Liabilities $ 198,553

Net AssetsUnrestricted: Available for operations 2,944,936 Board designated 437,707 Total Unrestricted $ 3,382,643

Temporarily restricted 2,185,433

Total Net Assets $5,568,076

Total Liabilities and Net Assets $5,766,629

STATEMENT OF ACTIVITIES Temporarily Revenues Unrestricted Restricted Total

Contributions: Actuarial Organizations’ Support $ 538,143 $ - $ 538,143 Annual Gifts 418,355 429,959 848,314Special events Contributions 0 61,000 61,000 Other 41,965 6,583 48,548Net assets released from restrictions 464,731 (464,731) Total Revenues $ 1,463,194 $ 33,011 $ 1,496,005

Expenses:Program related expenses:

Consumer Financial Education 11,985 - 11,985 Youth Education 576,690 - 576,690 Research $ 68,524 - $ 68,524 Scholarships 180,369 - 180,369 Special event expense 49,459 - 49,459

Operating expenses: Fundraising 70,522 - 70,522 Administrative support _ 696,289 - 696,289 Total expenses $1,653,838 - $1,653,838

Change in net assets before investment income (190,644) 33,011 (157,633) Investment Income 649 1,054 1,703Net assets at: Beginning of year 3,572,638 2,151,368 5,724,006

End of year $ 3,382,643 $ 2,185,433 $ 5,568,076

FUNDING OUR MISSION

2015 Total Revenue

Research, Awards & Prizes

5%

Youth Education

28%

Consumer Financial Education

3%

Special Events Contribution

Supporting Youth Education

25%

Unrestricted/ Adm/Other

29%Scholarships

10%

2015 Total Expenses

Administrative 37%

Fundraising 6%

Programs 57%


VISIONARY $25,000+Sam Nandi Kevin and Kathleen

Thompson

INNOVATOR $10,000-$24,999Helen Galt David and Kitty HartmanO

John J. KollarODeep M. PatelOBruce S. PyensonO

A. Greig Woodring

PIONEER $5,000 - $9,999Cecil D. BykerkO

Thomas R. CorcoranO

Robert V. DeutschO

Douglas A. FrenchO

Jacques Goulet Joseph W. KellyO

S. Michael McLaughlinO

Steven Schreiber and Amy LorowitzO

Frederick J. SievertOThomas C. SuttonO

PATHFINDER $2,500-$4,999Charlie R. Allison Craig M. BaldwinO

Michael C. BatteO

Robert F. CongerOSarah J. HamidCurtis D. HamiltonO

Jane L. HamrickO

Ronald J. HarasymO

David M. HollandO

Maynard I. Kagen Dale NelsonO

James T. O’Connor Rodney and Lori RohdaO

Ian M. Rolland Gail M. RossORobert and Karen ShapiroO

Clark E. SlipherOJoel M. SteinbergO

William J. ThompsonO

Mavis A. WaltersOStephen A. WhiteO

PACESETTER $1,000 - $2,499Mark E. Alberts Joseph D. AustinO

Mr. and Mrs. Raymond BarretteO

Stephen M. Batza Albert J. BeerORowen B. Bell Robert M. BeuerleinO

Edward J. Bonach Christopher M. BoneO

Douglas C. BortonO

Paul and Nancy BraithwaiteThomas M. BuckinghamO

Edward H. Budd David R. Carpenter Sue A. Collins Pamela ConeO

Kevin A. Cormier Loren R. DanielsonO

Jeffrey W. Davis Philip S. DialOBrian M. DonlanO

David J. DruryO

Thomas P. EdwaldsOJohn W. EhrhardtODavid J. Fishbaum James M. Forbush Mark J. FreedmanO

Edward W. FreesODaniel E. FreierODavid C. Fry Michael FuscoO

Patricia L. Guinn Dale S. HagstromO

John E. Hanrahan Gregory HeidrichO

Dawn E. Helwig Peter G. HendeeO

Kenneth F. HohmanO

Carlton W. Honebein Heidi E. Hutter Barry Jacobson Gary R. JosephsonO

Anand Khare Mark E. KonenO

Steven D. Lash Richard J. LauriaO

Joseph J. LeubeO

Warren R. LucknerORichard W. MathesOJerry A. MiccolisOTerri Michalewicz Cynthia S. MillerOMartha A. Moeller David F. OgdenO

Douglas A. ProebstingO

James F. Reiskytl Peter J. RiemerO

Martha M. Ryan David K. Sandberg Mr. and Mrs. Robert E.

SchneiderOJohn J. SchubertOCarol R. SearsOKaren Smith Michelle D. SmithO

Joanne S. SpallaO

Jerry and Judith SpigalORobert W. Stein Chris Stroup Wayne E. Stuenkel Dorn H. SwerdlinO

Stanley H. TannenbaumO

Patricia A. TeufelOSteven N. Wander Bruce Winterhof Robert C. WintersODale H. YamamotoO

BUILDER $500 - $999Rhea M. Adler Robert A. AnkerOGregory S. Benesh Debbie L. BennerOCatherine J.

Bierschbach James R. BloyerOJohn P. BremerOGuillaume Briere-GirouxO

William J. BuggO

Eugene C. ConnellOGary and Consuelo CorbettOErrol CramerOPatrick J. Crowe Richard de Haan Michael E. DuBoisOPatrick J. DunksOElizabeth End John M. FentonO

James P. GalassoO

Jennifer L. GillespieO

Mary E. GreshamO

Sam GuttermanO

Gregory Hansen Tara J. HansenO

William V. HoganO

Justin N. HornburgO

David N. Ingram Burton D. JayO

Andrew P. JohnsonO

Stephen and Susan KraabelO

Peter S. KreuterOEllen Lamale Kevin P. Larsen Kenneth A. LaSorellaO

Song Keng Law Dominique LebelOTheresa H. LeeO

JoDee L. LymburnerOMr. and Mrs. W. James and

Barbara MacGinnitieO

Charles A. Marino Mark H. Maus Mickey G. McDanielOThomas M. MianoO

Elena D. Mohler Jonathan Norton Lisa M. Pawlowski Christopher G.

Raham Gary K. Ransom Daniel J. Rogers Charles E. RohmO

Alice Rosenblatt Marcia S. SanderOWilliam M. SayreO

Michael C. SchmitzO

Barry L. SheminO

Ollie L. Sherman Elizabeth A.

Shimshock Marc SlutzkyO

Ronald J. Smith Susan O. SmithO

Julia C. Stenberg Eileen C. StreuO

Mark R. Troutman Lynette L. TrygstadO

Dewayne E. UllspergerMichael G. Wacek Patricia C. WhiteO

Benjamin R. WhiteleyO

Kathleen R. WongO

Patrick B. WoodsO

ADVOCATE $250-$499Noel J. AbkemeierOAllan D. Affleck Debra Ayres Blaine M. BarhamO

Rex E. Barker Daniel Berning James E. Biller Amy S. BouskaO

David A. BrentlingerODallas Burris Frederick S. Busch Marilyn CarpO

Douglas J. Collins Ronald M. Cornwell Glenn E. CrouseO

Robert A.Diefenbacher

Kathryn L. Elliott Wendy J. Engel Mark D. EvansOGary L. FaldeO

Jacqueline Fallon James R. FeutzO

Beth FitzgeraldO

Robert G. FrascaO

Glenn W. FreschO

Bruce Gardner Roy GoldmanO

Serhat Guven Larry A. Haefner Maureen HagerOAllison M. HarrisOIvan J. Houston Michael A. Hughes Keith A. JorgensenO

Richard J. Junker Jacqueline M. KeatingO

Anne KellyO

Emily K. KesslerORichard A. Kipp John B. KleimanO

Edward P. Kuhn Brian Kwei

2015 Foundation Contributors (as of 12/31/15) We thank the following individuals and corporate contributors for their support in 2015.

CONTINUED ON PAGE 8

5 YEARGOLD STAR

RECOGNITIONIndividuals and companies with

a gold star have made annual contributions to

The Actuarial Foundation in each of the last five years.

Thank you for your ongoing support!

OUR DONORS MADE IMPACTS


Leon L. Langlitz Sylvia I. Lecky Timothy D. Lee Stephen E. Lehecka James T. LescoeO

Chester T. LewandowskiKeith Lewandowski Mr. and Mrs.

Stephen H. LewisOSteven E. LippaiOMark E. LitowO

Emily Lorentzen Harry S. LutzO

Tonya B. Manning Walter C. MarshO

Dennis C. Martin Donald P. MavesOCarolyn T. McCluskyO

Jennifer L. McGinnisOMichael F. McManusORobert G. MeilanderOBrenda S. MeyerOKenneth M. MihalkaO

Judy A. MillerOMary D. MillerOSteven P. MillerOEsther H. MilnesOG.T. MitchellOBruce D. Moore Jaime Mosquera Richard T. NewellOJeffrey D. Newman Joseph A. Nichols Nancy E. O’Dell-WarrenDenise R. Olson Arthur V. PanighettiODenise I. PattersonO

Jan L. PollnowO

Robert S. Price Thomas O. RauO

David RemstadO

Craig W. ReynoldsOStephen H. Rosen Craig P. Rosenthal Allan W. RyanO

Donald P. SandersonO

Keith T. Sartain Peter R. SchaeferOGabriel L. ShaheenO

James C. Shake Henry W. Siegel Mr. Alan and Mrs. Nancy M.

SkinnerOLisa A. SlotznickO

Keith R. SpaldingO

James E. Spencer Ross J. Starfeldt David T. Stefanski Richard M. StensonO

Deborah A. Stern Ronora E. Stryker Robert W. SturgisOGraham T. SummerleePatrick Thorpe Jerome E. TuttleO

Diane WallaceO

Jeffrey N. Wallace Katherine A. Warren Caroline M. Waxler John W. Wiklund Andrew V. Wilkinson Pamela S. WoodleyO

Jonathan L. Wooley Amanda E. YoungO

Lynn M. Young Cynthia R. ZieglerO

SUPPORTER $100 - $249Michael E. Abbott Jeffrey L. Adams Melissa J. AhmannO

David H. Anenberg Paul AngeloO

John C. AntliffO

Michele L. Archer Daniel M. Arnold Carl X. AshenbrennerOKaren F. AyresOArthur L. BaldwinO

Stevan S. Baloski Philip A. BarlowO

Beverly R. Barney Brian G. Bayerle Rebekah D. Bayram John A. BeekmanO

Abbe S. Bensimon Michael W. Bertsche Shashikant K. Bhave Elmer Billman Kevin M. Bingham Ralph S. BlanchardO

Elie Bochner Joyce E. Bohl Michael L. Bollin William D. BonnevilleO

Donna D. Brasley Marc-Andre Brunet David BurginO

James D. Burke Monica M. BurmeisterKevin M. Bye Rodrigo CareagaO

Grace C. Caress Lawrence S. Carson Adam Carvalho Rodney J. ChandlerOJeffrey C. ChaninO

Lisa G. Chanzit

Chia C. Chiang April S. ChoiODavid J. ChristiansonO

James C. Christou Dale M. Chudnow Gary T. Ciardiello Patrick L. Collins Ann M. Conway Andrea CordaniOTim Cowan Geoffrey CroftsODarrel J. CrootOLarry A. Curran Julie F. CurryO

Dave Czernicki Peter B. Dahlberg Thomas V. Daley James W. DallasODaniel A. D’Andrea Richard A. DannenbergSmitesh Davé Richard L. DavenportOJohn Dawson Susan T. Deakins Kenneth M. deCesareO

Thomas J. DeFalco Thomas Del Fiacco Shannon Demaree Robert S. Dezube Arnold A. Dicke Christopher A. DonahueO

Thomas A. Doran William A. Dreher Mark E. DruryO

Keith J. DubasOMark K. Dunbar Robert J. DymowskiOWilliam E. EasterlyO

Michael V. EckmanO

Lester A. EdelsteinO

Phillip A. EisenbergO

Janet L. FaganO

Barry J. FalkoffO

Michael W. Fedyna Andy Ferris Robert J. FingerOWayne H. Fisher Daniel J. FlahertyO

Ryan FlemingO

Holly M. Flocker Luther O. Forde William B. Fornia Nolan Frank Sara and Greg Frankowiak John P. FrederickO

Howard A. FreidinO

Stanley R. FreilichO

David Friston

Donald E. FuerstOCharles K. FuruikeO

Anant Galande Harvey S. GallowayO

Eleanor Galt Steven C. GaravagliaO

John D. GavrityO

Jack L. Gibson Carolyn H. Glasgow Karen P. Glenn Ralph H. GoebelOIrwin H. Goldfarb Robert B. GoodeO

Timothy L. GrahamO

Michael Grainger Jack GreenbergO

Eli GreenblumO

Nathan A. Greenlee Richard A. GroszkiewiczJeffrey A. Groves William R. Hallmark Michael R. Hamachek George E. HarrisonO

Ayleene G. HartmanO

Thomas K. Hartman Lise A. HasegawaO

William J. HauserOPaul J. Heffernan Kelly M. Hennigan Peter HepokoskiOSanford B. Herman Todd J. HessOKirk Higgins Michael R. Hill Scott A. HittnerOKatherine Holcomb John F. Huddleston Frank S. Irish Stephen JamesonO

Cynthia Jeness Isadore JermynO

Lawrence A. JohansenJeffrey R. JordanO

Thomas P. Kalmbach Michael J. Kaufman Stephen G. KellisonO

Laura M. Kelly Gareth Kennedy Asad KhalidO

W D. Kidwell Martha M. Kimball Brian G. KingO

Stephen A. King Paul E. Kinson Jason T. Klawonn Allen M. KleinO

Ellen L. KleinstuberOFrank W. KlinzmanO

Joseph F. Kolodney

William J. Koss Jeffrey J. Krygiel Ronald T. Kuehn Michelle L. KunzmanO

Thomas C. Lamanna Todd L. Laszewski Rita M. Lawlor Barbara V. Lawson Paul L. LeClairOTimothy R. Leier Carol F. LeithO

Gerald E. Lenis Brian R. Lessing Rodney Lester Joseph W. LevinO

Wilbur W. Lo Cindy Low John D. Lower Jon D. Lundy Yongtao Luo Richard Maguire Joel C. MagyarOChristopher P. Maher Stephen S. MakgillOLindsay J. Malkiewich Kevin A. MartiOLeslie A. Martin Michael McComisOCatherine McCulloughJack McKee David W. McLeroy Marilyn MeierORonald A. MetzlerOWilliam M. MillerOThomas F. MiltonO

David Minches Gerard C. Mingione Laura L. Mitchell Jeffrey S. Morris Joseph L. MoskowitzO

Todd B. MunsonO

Daniel M. MurphyO

Richard C. Murphy Sarah Murray Jennifer I. Nam Cyrus Neyssari Barbara P. NiehusORichard M. NiemiecO

John A. Nikander Kathleen C.

Odomirok-HoffmanO

Joan P. Ogden Amedee B. O’Gorman Cande Olsen Mark F. Olson Vanessa M. Olson Theodore S. OparowskiAleksandra V. Orlova Joanne M. Ottone

2015 Foundation Contributors (continued)

CONTINUED ON PAGE 9


David T. Ozar Susan E. Pantely Scott Parker Norman W. ParrishO

Mark R. Pasdo Gary PatrikO

Gary E. PaulineO

Timothy A. PauzaO

Robert A. Pedemonti John R. Pedrick Mary A. Peltier Andrew J. PetersonO

Howard M. Phillips Wm H. PhillipsOMichael L. Pisula Deborah W. PriceO

Juan F. PunchinO

Daniel J. Rakers Michael G. ReillyO

Robert R. Reitano Frederick R. Rickers David P. RigbyO

Jennifer S. Ringo Constance A. RokickiOWilliam P. RolandO

J. Franklin Rose Holly A. Ross Mark A. Ruegg Thomas G. RuehleO

Chad RuncheyO

Josephine A. Russo Geoffrey C. Sandler Kristin A. SchaeferODavid E. ScherrOLisa A. Schilling Mark W. SchlemmerORaymond T. SchludeO

Eric J. Schmidt Neal Schmidt Deborah A. Schultz Jonathan SchwartzO

Donald J. SegalOJack SeigelOGreg and Renee SgrossoAhmad Shadman Vladimir Shander Maureen A. ShaughnessyDavid A. Shea Kasha Shelton Mark Shemtob Charles J. SherfeyO

Wesley H. SiebrassORial R. Simons Deborah K. SloanO

Michael B. Smith Stephen L. SmithO

David L. SnellOMichelle D. Spartz F. Allen SpoonerO

Michael E. Sproule Edward J. Stanco Stephen N. SteinigO

Diane M. Storm Lee H. Straate Paul J. Struzzieri Robert A. Sujecki Douglas W. TaylorOScott C. Thornton Thomas P. TierneyO

Peter D. TilleyO

Andrew C. Tilmont Debra K. Toohill James E. Trimble John G. TurnerOWilliam R. Van Ark Oakley E. Van Slyke George T. WaaserODavid N. WakelyO

James F. Walbridge Robert A. WardO

Edward K. WarnerODavid W. Warren Lynne K. Wehmueller Karen J. WeissOLouis M. WeiszO

Richard K. WendtORobert L. Whitney Robert E. Wilen Jill A. WilkisOCharles Wilson Matthew J. Wininger Chad C. Wischmeyer Kevin S. WolfOBernard WolzenskiOClaire Worley Jason Wyrick Joseph R. Zatto Paul R. ZwillingO

CONTRIBUTOR $1 - $99M. Shefaque Ahmed Jerry D. Allen Robert A. Alps Neil M. Anderson Krystle Anil Virgil H. Applequist Jonathan Applewhite Janejira Aranyawat Nancy L. Arico Natalie Atkinson Stephanie Aube Richard J. Babel David J. BahnO

Janet M. Barr Elaine A. BarrittOTrevor Beasty Linda L. Bell Neil A. Bethel

Ravi Bhagat Mark D. BiglowO

Michael D. Bishop Elena V. Black Joseph Bojman Mike A. BootOTimothy G. Branch Michael M.

Braunstein Andreea Brezeanu Brian J. Brown Samuel J. Brunell Keith A. Bucich Dep Bui Andrea Burns Charlene N. Butz Crispina O. Caballero Elizabeth Caldwell Jonathan A. CanineO

Jillian Cataloni Michael J. CelliniOLon Chang Shiv Charan Xi Chen Thomas Clark Kevin M. Cleary Laurence D. Cohen Warren M. CohenO

Linden N. ColeO

Jean M. Condon Dianne ConteO

Jeanette R. Cooper Veronika K. Crane Henry & Ellen Criz Richard D. Cruise Constance B. Dalmadge HallKenyon Day Rita K. DeGraaf Giedre Delgado Jason Demouy Brigh Desjardins Noelle Destrampe Stephen R. DiCenso Rachel C. DolskyO

Laura Donnelly Kirk L. Dorn Thomas J. Duffy Brian N. Dunham Paul B. Dunlap Art Dunley Marilyn C. Dunnill Priya Dwarakanath Edward A. EcheverriaO

Garry M. EckardO

Ryan Empey Michael L. FalcoO

Richard J. Fallquist Erik J. Fasano Andrew W. Ferguson

Philip P. Ferrari John A. Fibiger Alan W. Finkelstein Timothy Finnie John R. ForneyO

Whitney Fose Aaron M. Friedman Sheryl Gabriel Jacob C. Galecki Lisa C. Gandrud J. Timothy GauleO

Megan Gelsinger Mary Genack Robert Glazier Michael Golding Philip GollanceO

Lori A. GordonO

Vasu Goyal Vincent J. Granieri Cory J. Gusland Karen E. HansonO

Robert B. HardinO

James C. Harrison Minyu He Jason B. Heissler Kathryn E. Herbig Edwin E. HightowerORebecca Hoffmann John F. HowellOMark S. Hoyt Dwayne A. Husbands Robert J. Ingram Shemina Jamal Emily Janke Kim Jentges Victoria Jiang Timothy Johnson Thomas S. Johnston Leslie M. Jones Madison Jones Gerysen Joseph Pamela A. KaplanO

Hideaki Kazeno Rizwan M. Khan Brian S. Kheel Jessica Kildow Theodore J. Kitsos John D. Klemm John L. Klemmer William A. Kling Harold S. Kolpak Wally Kopec Christopher A. KremerOKenneth R. Krissinger Francis J. KristonO

Robert Laban Ryan Laine James R. Lamenzo Megan Lancioni

Amy Lara Clifford Lau Irene LeeO

Michelle K. Lee Walter A. LehmanO

Christian LemayO

Valerie A. Lendt Jerrold M. Levy Kelly C. Lewis Mi Li Tony Li Zheng Li J T. Liddle Stuart L. Liebeskind Diana Lin Marshall Lin Shu C. LinO

Dustin J. LoefflerOSue Ann Loo G H. Loomis John H. LowellOFranklin L. Lundquist Margo MacKenzie Jennifer Marquino Lisa Martell Michael Massa William Matczak Laura A. Maxwell Harold McCollumO

Michelle L. McDonald Stephen T. McElhaneyO

Mark L. McGowan Walter J. McLaughlinO

Meghan McLenithan Darpan Mehta Carl E. MeierOStephen A. Meskin Robert C. MitchellOVictor ModugnoO

Clara Morales David Moreno Helane Moskovich Quentin Mostoller Michael MudryO

Geraldine Murtagh Jordan N. Nadler Intisar Nasir Richard J. NelsonO

Trina Nelson Lindsay B. Neu Kristin R. Norberg Ann M. O’Connell Christina Oda William O. Oglesby Aoife O’Hora Alan T. Oldiges Francisco Orduna Scott C. Otermat Joseph PaesaniO


CONTINUED ON PAGE 10


Kishen PatelODavid Paul David R. Payne Laura S. Pendergast John W. PennistenO

John Pierce Kyle Poirier Howard L. Polivy Dorothy M. Proulx Patricia A. Pruitt Gaurav Rastogi Jennifer A. Rathmell Jon Ravin Robert J. Reiskytl Forrest A. RichenO

Edward L. Robbins John C. Roberts Brad S. Rokosh Bruce Rosner Peter G. Rossi Alan J. Routhenstein James B. Rowland Elizabeth S. SalamoneO

Nicholas J. Sales Mr. and Mrs. David P.

SchandingO

Keith A. Schardt Samuel C. Schauf Paul G. SchottOTobias Schuler

Vikas Sharan Rajendra P. Sharma John L. Shaw April Shen Gary Shia Robert L. Silverman Susan L. SilvermanO

Howard L. SimonO

Stephen G. SingerOKelvin K. Siu Michael Slipowitz Frances A. SmithO

Richard C. Smith Jonathan So Justin C. Spitler Philip Sprawls Jeffrey T. Stabach Brooke Stadel Mindy Steichen Elliott M. SteinerOJon M. StellmacherOSamantha Stencel Ian P. SterlingO

Larry N. Stern Charles M. Stipelman Alan C. Stone Judy L. Strachan Martha Stubbs Hannah Suh Patrick E. Sutherland

Chester J. SzczepanskiDonn T. Takebayashi Amy J. TalankerOZheng Tan Elissa D. Tauber Craig P. Taylor George J. Taylor Thomas N. TaylorOKenneth D. ThiemeO

Malgorzata TimbergO

Allison R. Tomlinson Joel Tomski Hayley M. Topel Huy Tran Chris G. Trost Danae Trott Christian A. UlmerODavid T. Van Caster Kathryn Van Ryn Anushka Vats Sian Walker Donna F. Wallach Darby Wallis H. Estefania Walls Kyle Walster Matthew Wang Ping Wang Tiffany Weeks Brady Wilkin Vickie N. Williams

Henry N. WinslowO

Claire L. WolkoffO

Wilson Wong Yi Wu Ryan Wuenstel Benjamin J. YahrOJohn B. Yanko Hideyuki Yoshida Earlene L. Young Yuan Yuan Benny S. Yuen Mark M. Zanecki Matthew M. Zhang Aria Zhou Ann Ziesemer Michael L. Zurcher


LEGACY CIRCLE MEMBERSThe Foundation’s Legacy Circle members have made a commitment in their estate planning to ensure the Foundation will continue to serve the public and the profession for years to come.

John and Beverly AntliffCraig and Merilyn BaldwinPaul BraithwaiteBob and Maggie CongerGary and Consuelo CorbettMichael and Cathleen CoreyWilliam FalkDave and Kitty HartmanDave and Faye HollandJoe and Michelle Kelly Jim and Barbara MacGinnitieJoel Magyar Steve and Janie RadcliffeRod and Lori RohdaGail RossWalter and Amelia RuglandSteven Schreiber and

Amy LorowitzBob and Karen ShapiroFred and Sue Sievert Michelle D. SmithDorn and Joanne SwerdlinMavis Walters

Supporting U.S. Actuarial OrganizationsSince 2004, The Actuarial Foundation has received support from the U.S. actuarial organizations. Their trust and

encouragement in the Foundation’s good work in fulfilling its mission are key elements to our growth and continued success as the philanthropic organization of the actuarial profession.


The Foundation thanks the following corporations who dedicated their support to our mission through sponsorships and matching gift programs.

CORPORATE SPONSORS

VISIONARY $25,000+Ernst & Young, LLPO

Milliman, Inc.ONew York Life Insurance Company OdysseyRe Foundation INNOVATOR $10,000-$24,999Conference of Consulting ActuariesODeloitte Consulting LLPO

Liberty Mutual Group MetLife FoundationO

Nationwide FinancialONorthwestern MutualOPrudential Financial RGA Reinsurance CompanyO

SCOR Global Life US Reinsurance CompanyO

The Terry Group Voya Financial PIONEER $5,000 -$9,999Actuarial Society of Greater New YorkO

Aetna Alpha Re Limited DW Simpson Global Actuarial & Analytics

RecruitmentOGen Re Guardian Life Insurance CompanyO

Hannover Life Reassurance Company of AmericaO

Mercer Munich American Reassurance CompanyO

Ohio National Foundation Oliver Wyman Actuarial Consulting, Inc. Penn Mutual Life Insurance Company PricewaterhouseCoopers, LLP Sentry Insurance GroupO

Society of Actuaries Reinsurance SectionO

Society of Actuaries Smaller Insurance Section Council

Swiss Re Life & Health AmericaO

Transamerica Trustmark Foundation UNUM GroupO

PATHFINDER $2,500-$4,999Pacific Life FoundationO

Willis Towers WatsonO

PACESETTER $1,000-$2,499Aon Foundation Actuarial Careers, Inc. Actuaries’ Club of Hartford-Springfield American Academy of Actuaries American Agricultural Insurance CompanyO

Aurigen USA Holdings, Inc. Canada Life Re Ezra Penland Actuarial Recruitment, Inc.OFreeborn Healthcare Visions, Inc. LOGiQ3 Wakely Consulting Group, Inc.

BUILDER $500-$999The McKeogh CompanyO

Actuarial Advisors, Inc.OOne Beacon Insurance Group Rudolph Financial Consulting, LLCO

CONTRIBUTOR $250- $499ACTEX Publications, Inc.

SUPPORTER $100-$249Actuarial Standards Board Abar Retirement Plan Services, LLC Pension Section Council of SOA The Kenneth D. Anderson Company, Inc.

MATCHING GIFT COMPANIESAetna Foundation *Allianz Global Assistance

Matching Gift ProgramAllstate Giving Campaign *American Agricultural Insurance Company *Aon FoundationArch Insurance GroupChubb Group of Insurance Companies *GE FoundationMassMutual *Mutual of America Life Insurance CompanyNJM Insurance GroupPacific Life FoundationPrudential FoundationThe Travelers Companies, Inc.Thrivent Financial for Lutherans *Verisk AnalyticsVoya Financial

As of 12/31/2015

Documents

2015 ANNUAL REPORT - The Actuarial Foundation...Sr. Managing Actuary, Financial Reports Liberty Mutual Agency Markets Robert V. Deutsch, FCAS, ASA, MAAA Chief Strategy Officer Hamilton