id	sid	tid	token	lemma	pos
fsr-3823	1	1	pii	pii	PROPN
fsr-3823	1	2	:	:	PUNCT
fsr-3823	1	3	s1057	s1057	NOUN
fsr-3823	1	4	-	-	PUNCT
fsr-3823	1	5	0810(97)90010	0810(97)90010	NOUN
fsr-3823	1	6	-	-	PUNCT
fsr-3823	1	7	x	x	ADJ
fsr-3823	1	8	financial	financial	ADJ
fsr-3823	1	9	services	service	NOUN
fsr-3823	1	10	review	review	NOUN
fsr-3823	1	11	,	,	PUNCT
fsr-3823	1	12	6(3	6(3	NUM
fsr-3823	1	13	):	):	PUNCT
fsr-3823	1	14	155	155	NUM
fsr-3823	1	15	-	-	SYM
fsr-3823	1	16	167	167	NUM
fsr-3823	1	17	copyright	copyright	NOUN
fsr-3823	1	18	0	0	NUM
fsr-3823	1	19	1998	1998	NUM
fsr-3823	1	20	by	by	ADP
fsr-3823	1	21	jai	jai	PROPN
fsr-3823	1	22	press	press	PROPN
fsr-3823	1	23	inc	inc	PROPN
fsr-3823	1	24	.	.	PROPN
fsr-3823	1	25	issn	issn	PROPN
fsr-3823	1	26	:	:	PUNCT
fsr-3823	1	27	1057	1057	NUM
fsr-3823	1	28	-	-	SYM
fsr-3823	1	29	0810	0810	NUM
fsr-3823	1	30	all	all	DET
fsr-3823	1	31	rights	right	NOUN
fsr-3823	1	32	of	of	ADP
fsr-3823	1	33	reproduction	reproduction	NOUN
fsr-3823	1	34	in	in	ADP
fsr-3823	1	35	any	any	DET
fsr-3823	1	36	form	form	NOUN
fsr-3823	1	37	reserved	reserve	VERB
fsr-3823	1	38	.	.	PUNCT
fsr-3823	2	1	incorporating	incorporate	VERB
fsr-3823	2	2	historical	historical	ADJ
fsr-3823	2	3	investment	investment	NOUN
fsr-3823	2	4	performance	performance	NOUN
fsr-3823	2	5	in	in	ADP
fsr-3823	2	6	projecting	project	VERB
fsr-3823	2	7	life	life	NOUN
fsr-3823	2	8	insurance	insurance	NOUN
fsr-3823	2	9	cash	cash	NOUN
fsr-3823	2	10	values	value	NOUN
fsr-3823	2	11	s.	s.	PROPN
fsr-3823	2	12	travis	travis	PROPN
fsr-3823	2	13	pritchett	pritchett	PROPN
fsr-3823	2	14	the	the	DET
fsr-3823	2	15	projection	projection	NOUN
fsr-3823	2	16	of	of	ADP
fsr-3823	2	17	current	current	ADJ
fsr-3823	2	18	investment	investment	NOUN
fsr-3823	2	19	experience	experience	NOUN
fsr-3823	2	20	in	in	ADP
fsr-3823	2	21	life	life	NOUN
fsr-3823	2	22	insurance	insurance	NOUN
fsr-3823	2	23	sales	sale	NOUN
fsr-3823	2	24	illustrations	illustration	NOUN
fsr-3823	3	1	dur	dur	AUX
fsr-3823	3	2	ing	e	VERB
fsr-3823	3	3	the	the	DET
fsr-3823	3	4	historically	historically	ADV
fsr-3823	3	5	high	high	ADJ
fsr-3823	3	6	interest	interest	NOUN
fsr-3823	3	7	rate	rate	NOUN
fsr-3823	3	8	environment	environment	NOUN
fsr-3823	3	9	of	of	ADP
fsr-3823	3	10	the	the	DET
fsr-3823	3	11	1980s	1980	NOUN
fsr-3823	3	12	in	in	ADP
fsr-3823	3	13	the	the	DET
fsr-3823	3	14	u.	u.	PROPN
fsr-3823	3	15	s.	s.	PROPN
fsr-3823	3	16	has	have	AUX
fsr-3823	3	17	led	lead	VERB
fsr-3823	3	18	to	to	ADP
fsr-3823	3	19	consumer	consumer	NOUN
fsr-3823	3	20	dissatisfaction	dissatisfaction	NOUN
fsr-3823	3	21	and	and	CCONJ
fsr-3823	3	22	lawsuits	lawsuit	NOUN
fsr-3823	3	23	against	against	ADP
fsr-3823	3	24	life	life	NOUN
fsr-3823	3	25	insurers	insurer	NOUN
fsr-3823	3	26	and	and	CCONJ
fsr-3823	3	27	agents	agent	NOUN
fsr-3823	3	28	.	.	PUNCT
fsr-3823	4	1	as	as	SCONJ
fsr-3823	4	2	interest	interest	NOUN
fsr-3823	4	3	rates	rate	NOUN
fsr-3823	4	4	fell	fall	VERB
fsr-3823	4	5	after	after	ADP
fsr-3823	4	6	1985	1985	NUM
fsr-3823	4	7	,	,	PUNCT
fsr-3823	4	8	insurers	insurer	NOUN
fsr-3823	4	9	were	be	AUX
fsr-3823	4	10	unable	unable	ADJ
fsr-3823	4	11	to	to	PART
fsr-3823	4	12	credit	credit	NOUN
fsr-3823	4	13	returns	return	NOUN
fsr-3823	4	14	near	near	ADP
fsr-3823	4	15	the	the	DET
fsr-3823	4	16	maximums	maximum	NOUN
fsr-3823	4	17	illustrated	illustrate	VERB
fsr-3823	4	18	earlier	early	ADV
fsr-3823	4	19	.	.	PUNCT
fsr-3823	5	1	new	new	ADJ
fsr-3823	5	2	regulations	regulation	NOUN
fsr-3823	5	3	still	still	ADV
fsr-3823	5	4	allow	allow	VERB
fsr-3823	5	5	projections	projection	NOUN
fsr-3823	5	6	at	at	ADP
fsr-3823	5	7	essentially	essentially	ADV
fsr-3823	5	8	the	the	DET
fsr-3823	5	9	latest	late	ADJ
fsr-3823	5	10	current	current	ADJ
fsr-3823	5	11	invest	inv	ADJ
fsr-3823	5	12	ment	ment	NOUN
fsr-3823	5	13	returns	return	NOUN
fsr-3823	5	14	,	,	PUNCT
fsr-3823	5	15	along	along	ADP
fsr-3823	5	16	with	with	ADP
fsr-3823	5	17	showing	show	VERB
fsr-3823	5	18	guaranteed	guarantee	VERB
fsr-3823	5	19	and	and	CCONJ
fsr-3823	5	20	intermediate	intermediate	ADJ
fsr-3823	5	21	values	value	NOUN
fsr-3823	5	22	.	.	PUNCT
fsr-3823	6	1	the	the	DET
fsr-3823	6	2	question	question	NOUN
fsr-3823	6	3	raised	raise	VERB
fsr-3823	6	4	in	in	ADP
fsr-3823	6	5	this	this	DET
fsr-3823	6	6	article	article	NOUN
fsr-3823	6	7	is	be	AUX
fsr-3823	6	8	:	:	PUNCT
fsr-3823	6	9	can	can	AUX
fsr-3823	6	10	history	history	NOUN
fsr-3823	6	11	help	help	VERB
fsr-3823	6	12	the	the	DET
fsr-3823	6	13	financial	financial	ADJ
fsr-3823	6	14	planner	planner	NOUN
fsr-3823	6	15	determine	determine	VERB
fsr-3823	6	16	a	a	DET
fsr-3823	6	17	range	range	NOUN
fsr-3823	6	18	of	of	ADP
fsr-3823	6	19	credible	credible	ADJ
fsr-3823	6	20	investment	investment	NOUN
fsr-3823	6	21	return	return	NOUN
fsr-3823	6	22	assumptions	assumption	NOUN
fsr-3823	6	23	for	for	ADP
fsr-3823	6	24	projecting	project	VERB
fsr-3823	6	25	cash	cash	NOUN
fsr-3823	6	26	values	value	NOUN
fsr-3823	6	27	?	?	PUNCT
fsr-3823	7	1	conclusions	conclusion	NOUN
fsr-3823	7	2	are	be	AUX
fsr-3823	7	3	based	base	VERB
fsr-3823	7	4	on	on	ADP
fsr-3823	7	5	the	the	DET
fsr-3823	7	6	results	result	NOUN
fsr-3823	7	7	of	of	ADP
fsr-3823	7	8	basing	base	VERB
fsr-3823	7	9	projections	projection	NOUN
fsr-3823	7	10	on	on	ADP
fsr-3823	7	11	historical	historical	ADJ
fsr-3823	7	12	investment	investment	NOUN
fsr-3823	7	13	experience	experience	NOUN
fsr-3823	7	14	.	.	PUNCT
fsr-3823	8	1	i.	i.	NOUN
fsr-3823	8	2	introduction	introduction	NOUN
fsr-3823	8	3	in	in	ADP
fsr-3823	8	4	recent	recent	ADJ
fsr-3823	8	5	years	year	NOUN
fsr-3823	8	6	,	,	PUNCT
fsr-3823	8	7	u.s	u.s	PROPN
fsr-3823	8	8	.	.	PROPN
fsr-3823	8	9	life	life	NOUN
fsr-3823	8	10	insurers	insurer	NOUN
fsr-3823	8	11	have	have	AUX
fsr-3823	8	12	used	use	VERB
fsr-3823	8	13	sales	sale	NOUN
fsr-3823	8	14	illustrations	illustration	NOUN
fsr-3823	8	15	to	to	PART
fsr-3823	8	16	emphasize	emphasize	VERB
fsr-3823	8	17	growth	growth	NOUN
fsr-3823	8	18	in	in	ADP
fsr-3823	8	19	cash	cash	NOUN
fsr-3823	8	20	values	value	NOUN
fsr-3823	8	21	and	and	CCONJ
fsr-3823	8	22	death	death	NOUN
fsr-3823	8	23	benefits	benefit	NOUN
fsr-3823	8	24	.	.	PUNCT
fsr-3823	9	1	rapid	rapid	ADJ
fsr-3823	9	2	growth	growth	NOUN
fsr-3823	9	3	was	be	AUX
fsr-3823	9	4	fueled	fuel	VERB
fsr-3823	9	5	in	in	ADP
fsr-3823	9	6	the	the	DET
fsr-3823	9	7	1980s	1980	NOUN
fsr-3823	9	8	primarily	primarily	ADV
fsr-3823	9	9	by	by	ADP
fsr-3823	9	10	the	the	DET
fsr-3823	9	11	com	com	NOUN
fsr-3823	9	12	pounding	pounding	NOUN
fsr-3823	9	13	of	of	ADP
fsr-3823	9	14	relatively	relatively	ADV
fsr-3823	9	15	high	high	ADJ
fsr-3823	9	16	current	current	ADJ
fsr-3823	9	17	investment	investment	NOUN
fsr-3823	9	18	returns	return	NOUN
fsr-3823	9	19	(	(	PUNCT
fsr-3823	9	20	i.e.	i.e.	X
fsr-3823	9	21	,	,	PUNCT
fsr-3823	9	22	essentially	essentially	ADV
fsr-3823	9	23	what	what	PRON
fsr-3823	9	24	an	an	DET
fsr-3823	9	25	insurer	insurer	NOUN
fsr-3823	9	26	was	be	AUX
fsr-3823	9	27	earning	earn	VERB
fsr-3823	9	28	on	on	ADP
fsr-3823	9	29	a	a	DET
fsr-3823	9	30	certain	certain	ADJ
fsr-3823	9	31	portfolio	portfolio	NOUN
fsr-3823	9	32	at	at	ADP
fsr-3823	9	33	the	the	DET
fsr-3823	9	34	time	time	NOUN
fsr-3823	9	35	of	of	ADP
fsr-3823	9	36	the	the	DET
fsr-3823	9	37	sale	sale	NOUN
fsr-3823	9	38	.	.	PUNCT
fsr-3823	9	39	)	)	PUNCT
fsr-3823	10	1	current	current	ADJ
fsr-3823	10	2	experience	experience	NOUN
fsr-3823	10	3	continues	continue	VERB
fsr-3823	10	4	to	to	PART
fsr-3823	10	5	be	be	AUX
fsr-3823	10	6	extrapolated	extrapolate	VERB
fsr-3823	10	7	over	over	ADP
fsr-3823	10	8	the	the	DET
fsr-3823	10	9	potential	potential	ADJ
fsr-3823	10	10	life	life	NOUN
fsr-3823	10	11	of	of	ADP
fsr-3823	10	12	policies	policy	NOUN
fsr-3823	10	13	,	,	PUNCT
fsr-3823	10	14	often	often	ADV
fsr-3823	10	15	up	up	ADP
fsr-3823	10	16	to	to	ADP
fsr-3823	10	17	the	the	DET
fsr-3823	10	18	insured	insure	VERB
fsr-3823	10	19	’s	’s	PART
fsr-3823	10	20	age	age	NOUN
fsr-3823	10	21	100	100	NUM
fsr-3823	10	22	.	.	PUNCT
fsr-3823	11	1	the	the	DET
fsr-3823	11	2	tre	tre	PROPN
fsr-3823	11	3	mendous	mendous	ADJ
fsr-3823	11	4	effect	effect	NOUN
fsr-3823	11	5	of	of	ADP
fsr-3823	11	6	compound	compound	NOUN
fsr-3823	11	7	interest	interest	NOUN
fsr-3823	11	8	at	at	ADP
fsr-3823	11	9	relatively	relatively	ADV
fsr-3823	11	10	high	high	ADJ
fsr-3823	11	11	rates	rate	NOUN
fsr-3823	11	12	over	over	ADP
fsr-3823	11	13	extensive	extensive	ADJ
fsr-3823	11	14	periods	period	NOUN
fsr-3823	11	15	is	be	AUX
fsr-3823	11	16	well	well	ADV
fsr-3823	11	17	known	know	VERB
fsr-3823	11	18	in	in	ADP
fsr-3823	11	19	financial	financial	ADJ
fsr-3823	11	20	sectors	sector	NOUN
fsr-3823	11	21	but	but	CCONJ
fsr-3823	11	22	may	may	AUX
fsr-3823	11	23	not	not	PART
fsr-3823	11	24	be	be	AUX
fsr-3823	11	25	appreciated	appreciate	VERB
fsr-3823	11	26	by	by	ADP
fsr-3823	11	27	non	non	ADJ
fsr-3823	11	28	-	-	ADJ
fsr-3823	11	29	financially	financially	ADV
fsr-3823	11	30	-	-	PUNCT
fsr-3823	11	31	sophisticated	sophisticated	ADJ
fsr-3823	11	32	consumers	consumer	NOUN
fsr-3823	11	33	.	.	PUNCT
fsr-3823	12	1	in	in	ADP
fsr-3823	12	2	the	the	DET
fsr-3823	12	3	context	context	NOUN
fsr-3823	12	4	of	of	ADP
fsr-3823	12	5	cash	cash	NOUN
fsr-3823	12	6	value	value	NOUN
fsr-3823	12	7	projections	projection	NOUN
fsr-3823	12	8	,	,	PUNCT
fsr-3823	12	9	insufficient	insufficient	ADJ
fsr-3823	12	10	attention	attention	NOUN
fsr-3823	12	11	has	have	AUX
fsr-3823	12	12	been	be	AUX
fsr-3823	12	13	given	give	VERB
fsr-3823	12	14	by	by	ADP
fsr-3823	12	15	actuaries	actuary	NOUN
fsr-3823	12	16	,	,	PUNCT
fsr-3823	12	17	agents	agent	NOUN
fsr-3823	12	18	,	,	PUNCT
fsr-3823	12	19	and	and	CCONJ
fsr-3823	12	20	insurer	insurer	NOUN
fsr-3823	12	21	management	management	NOUN
fsr-3823	12	22	to	to	ADP
fsr-3823	12	23	what	what	PRON
fsr-3823	12	24	history	history	NOUN
fsr-3823	12	25	has	have	AUX
fsr-3823	12	26	to	to	PART
fsr-3823	12	27	say	say	VERB
fsr-3823	12	28	about	about	ADP
fsr-3823	12	29	the	the	DET
fsr-3823	12	30	volatility	volatility	NOUN
fsr-3823	12	31	of	of	ADP
fsr-3823	12	32	market	market	NOUN
fsr-3823	12	33	returns	return	NOUN
fsr-3823	12	34	and	and	CCONJ
fsr-3823	12	35	the	the	DET
fsr-3823	12	36	resulting	result	VERB
fsr-3823	12	37	likelihood	likelihood	NOUN
fsr-3823	12	38	of	of	ADP
fsr-3823	12	39	high	high	ADJ
fsr-3823	12	40	current	current	ADJ
fsr-3823	12	41	returns	return	NOUN
fsr-3823	12	42	being	be	AUX
fsr-3823	12	43	maintained	maintain	VERB
fsr-3823	12	44	throughout	throughout	ADP
fsr-3823	12	45	the	the	DET
fsr-3823	12	46	potential	potential	ADJ
fsr-3823	12	47	life	life	NOUN
fsr-3823	12	48	of	of	ADP
fsr-3823	12	49	policies	policy	NOUN
fsr-3823	12	50	.	.	PUNCT
fsr-3823	13	1	consequently	consequently	ADV
fsr-3823	13	2	,	,	PUNCT
fsr-3823	13	3	financial	financial	ADJ
fsr-3823	13	4	planners	planner	NOUN
fsr-3823	13	5	must	must	AUX
fsr-3823	13	6	be	be	AUX
fsr-3823	13	7	prepared	prepare	VERB
fsr-3823	13	8	to	to	PART
fsr-3823	13	9	give	give	VERB
fsr-3823	13	10	objective	objective	ADJ
fsr-3823	13	11	advice	advice	NOUN
fsr-3823	13	12	on	on	ADP
fsr-3823	13	13	sales	sale	NOUN
fsr-3823	13	14	illustrations	illustration	NOUN
fsr-3823	13	15	when	when	SCONJ
fsr-3823	13	16	they	they	PRON
fsr-3823	13	17	include	include	VERB
fsr-3823	13	18	unrealistic	unrealistic	ADJ
fsr-3823	13	19	projections	projection	NOUN
fsr-3823	13	20	for	for	ADP
fsr-3823	13	21	their	their	PRON
fsr-3823	13	22	clients	client	NOUN
fsr-3823	13	23	.	.	PUNCT
fsr-3823	14	1	in	in	ADP
fsr-3823	14	2	other	other	ADJ
fsr-3823	14	3	instances	instance	NOUN
fsr-3823	14	4	,	,	PUNCT
fsr-3823	14	5	the	the	DET
fsr-3823	14	6	planner	planner	NOUN
fsr-3823	14	7	may	may	AUX
fsr-3823	14	8	be	be	AUX
fsr-3823	14	9	the	the	DET
fsr-3823	14	10	person	person	NOUN
fsr-3823	14	11	presenting	present	VERB
fsr-3823	14	12	the	the	DET
fsr-3823	14	13	original	original	ADJ
fsr-3823	14	14	pro	pro	ADJ
fsr-3823	14	15	jection	jection	NOUN
fsr-3823	14	16	,	,	PUNCT
fsr-3823	14	17	for	for	ADP
fsr-3823	14	18	example	example	NOUN
fsr-3823	14	19	,	,	PUNCT
fsr-3823	14	20	on	on	ADP
fsr-3823	14	21	a	a	DET
fsr-3823	14	22	no	no	DET
fsr-3823	14	23	-	-	PUNCT
fsr-3823	14	24	load	load	NOUN
fsr-3823	14	25	life	life	NOUN
fsr-3823	14	26	insurance	insurance	NOUN
fsr-3823	14	27	product	product	NOUN
fsr-3823	14	28	.	.	PUNCT
fsr-3823	15	1	(	(	PUNCT
fsr-3823	15	2	while	while	SCONJ
fsr-3823	15	3	mortality	mortality	NOUN
fsr-3823	15	4	,	,	PUNCT
fsr-3823	15	5	expenses	expense	NOUN
fsr-3823	15	6	,	,	PUNCT
fsr-3823	15	7	and	and	CCONJ
fsr-3823	15	8	lapse	lapse	NOUN
fsr-3823	15	9	rates	rate	NOUN
fsr-3823	15	10	also	also	ADV
fsr-3823	15	11	affect	affect	VERB
fsr-3823	15	12	projections	projection	NOUN
fsr-3823	15	13	,	,	PUNCT
fsr-3823	15	14	this	this	DET
fsr-3823	15	15	article	article	NOUN
fsr-3823	15	16	is	be	AUX
fsr-3823	15	17	limited	limit	VERB
fsr-3823	15	18	to	to	ADP
fsr-3823	15	19	the	the	DET
fsr-3823	15	20	influence	influence	NOUN
fsr-3823	15	21	of	of	ADP
fsr-3823	15	22	investment	investment	NOUN
fsr-3823	15	23	returns	return	NOUN
fsr-3823	15	24	alone	alone	ADV
fsr-3823	15	25	.	.	PUNCT
fsr-3823	15	26	)	)	PUNCT
fsr-3823	16	1	s.	s.	PROPN
fsr-3823	16	2	travis	travis	PROPN
fsr-3823	16	3	pritchett	pritchett	PROPN
fsr-3823	16	4	l	l	PROPN
fsr-3823	16	5	w.	w.	PROPN
fsr-3823	16	6	frank	frank	PROPN
fsr-3823	16	7	hipp	hipp	PROPN
fsr-3823	16	8	professor	professor	PROPN
fsr-3823	16	9	of	of	ADP
fsr-3823	16	10	insurance	insurance	NOUN
fsr-3823	16	11	,	,	PUNCT
fsr-3823	16	12	college	college	NOUN
fsr-3823	16	13	of	of	ADP
fsr-3823	16	14	business	business	PROPN
fsr-3823	16	15	administration	administration	PROPN
fsr-3823	16	16	,	,	PUNCT
fsr-3823	16	17	university	university	PROPN
fsr-3823	16	18	of	of	ADP
fsr-3823	16	19	south	south	PROPN
fsr-3823	16	20	carolina	carolina	PROPN
fsr-3823	16	21	,	,	PUNCT
fsr-3823	16	22	columbia	columbia	PROPN
fsr-3823	16	23	,	,	PUNCT
fsr-3823	16	24	sc	sc	PROPN
fsr-3823	16	25	,	,	PUNCT
fsr-3823	16	26	29208	29208	NUM
fsr-3823	16	27	;	;	PUNCT
fsr-3823	16	28	e	e	X
fsr-3823	16	29	-	-	NOUN
fsr-3823	16	30	mail	mail	NOUN
fsr-3823	16	31	:	:	PUNCT
fsr-3823	16	32	pritch@darla.badm.sc.edu	pritch@darla.badm.sc.edu	NOUN
fsr-3823	16	33	.	.	PUNCT
fsr-3823	17	1	156	156	NUM
fsr-3823	17	2	financial	financial	ADJ
fsr-3823	17	3	services	service	NOUN
fsr-3823	17	4	review	review	VERB
fsr-3823	17	5	6(3	6(3	NUM
fsr-3823	17	6	)	)	PUNCT
fsr-3823	17	7	1998	1998	NUM
fsr-3823	17	8	the	the	DET
fsr-3823	17	9	national	national	PROPN
fsr-3823	17	10	association	association	PROPN
fsr-3823	17	11	of	of	ADP
fsr-3823	17	12	insurance	insurance	NOUN
fsr-3823	17	13	commissioners	commissioner	NOUN
fsr-3823	17	14	(	(	PUNCT
fsr-3823	17	15	naic	naic	PROPN
fsr-3823	17	16	)	)	PUNCT
fsr-3823	17	17	recently	recently	ADV
fsr-3823	17	18	promulgated	promulgate	VERB
fsr-3823	17	19	a	a	DET
fsr-3823	17	20	model	model	NOUN
fsr-3823	17	21	life	life	NOUN
fsr-3823	17	22	insurance	insurance	NOUN
fsr-3823	17	23	sales	sale	NOUN
fsr-3823	17	24	illustration	illustration	NOUN
fsr-3823	17	25	bill	bill	NOUN
fsr-3823	17	26	that	that	PRON
fsr-3823	17	27	,	,	PUNCT
fsr-3823	17	28	in	in	ADP
fsr-3823	17	29	the	the	DET
fsr-3823	17	30	states	state	NOUN
fsr-3823	17	31	where	where	SCONJ
fsr-3823	17	32	enacted	enact	VERB
fsr-3823	17	33	into	into	ADP
fsr-3823	17	34	law	law	NOUN
fsr-3823	17	35	,	,	PUNCT
fsr-3823	17	36	can	can	AUX
fsr-3823	17	37	be	be	AUX
fsr-3823	17	38	expected	expect	VERB
fsr-3823	17	39	to	to	PART
fsr-3823	17	40	make	make	VERB
fsr-3823	17	41	illustrations	illustration	NOUN
fsr-3823	17	42	more	more	ADV
fsr-3823	17	43	sustainable	sustainable	ADJ
fsr-3823	17	44	(	(	PUNCT
fsr-3823	17	45	i.e.	i.e.	X
fsr-3823	17	46	,	,	PUNCT
fsr-3823	17	47	“	"	PUNCT
fsr-3823	17	48	self	self	NOUN
fsr-3823	17	49	-	-	PUNCT
fsr-3823	17	50	supporting	support	VERB
fsr-3823	17	51	”	"	PUNCT
fsr-3823	17	52	in	in	ADP
fsr-3823	17	53	the	the	DET
fsr-3823	17	54	language	language	NOUN
fsr-3823	17	55	of	of	ADP
fsr-3823	17	56	the	the	DET
fsr-3823	17	57	model	model	NOUN
fsr-3823	17	58	)	)	PUNCT
fsr-3823	17	59	and	and	CCONJ
fsr-3823	17	60	understandable	understandable	ADJ
fsr-3823	17	61	.	.	PUNCT
fsr-3823	18	1	yet	yet	ADV
fsr-3823	18	2	,	,	PUNCT
fsr-3823	18	3	essentially	essentially	ADV
fsr-3823	18	4	the	the	DET
fsr-3823	18	5	latest	late	ADJ
fsr-3823	18	6	current	current	ADJ
fsr-3823	18	7	investment	investment	NOUN
fsr-3823	18	8	returns	return	NOUN
fsr-3823	18	9	,	,	PUNCT
fsr-3823	18	10	including	include	VERB
fsr-3823	18	11	those	those	PRON
fsr-3823	18	12	developed	develop	VERB
fsr-3823	18	13	through	through	ADP
fsr-3823	18	14	the	the	DET
fsr-3823	18	15	investment	investment	NOUN
fsr-3823	18	16	generation	generation	NOUN
fsr-3823	18	17	method	method	NOUN
fsr-3823	18	18	,	,	PUNCT
fsr-3823	18	19	can	can	AUX
fsr-3823	18	20	still	still	ADV
fsr-3823	18	21	be	be	AUX
fsr-3823	18	22	illus	illus	NOUN
fsr-3823	18	23	trated	trate	VERB
fsr-3823	18	24	.	.	PUNCT
fsr-3823	19	1	the	the	DET
fsr-3823	19	2	concern	concern	NOUN
fsr-3823	19	3	of	of	ADP
fsr-3823	19	4	this	this	DET
fsr-3823	19	5	author	author	NOUN
fsr-3823	19	6	is	be	AUX
fsr-3823	19	7	that	that	SCONJ
fsr-3823	19	8	in	in	ADP
fsr-3823	19	9	periods	period	NOUN
fsr-3823	19	10	of	of	ADP
fsr-3823	19	11	relatively	relatively	ADV
fsr-3823	19	12	high	high	ADJ
fsr-3823	19	13	investment	investment	NOUN
fsr-3823	19	14	returns	return	NOUN
fsr-3823	19	15	cur	cur	VERB
fsr-3823	19	16	rent	rent	NOUN
fsr-3823	19	17	returns	return	NOUN
fsr-3823	19	18	will	will	AUX
fsr-3823	19	19	be	be	AUX
fsr-3823	19	20	above	above	ADP
fsr-3823	19	21	even	even	ADV
fsr-3823	19	22	reasonably	reasonably	ADV
fsr-3823	19	23	optimistic	optimistic	ADJ
fsr-3823	19	24	projections	projection	NOUN
fsr-3823	19	25	of	of	ADP
fsr-3823	19	26	long	long	ADJ
fsr-3823	19	27	-	-	PUNCT
fsr-3823	19	28	run	run	NOUN
fsr-3823	19	29	performance	performance	NOUN
fsr-3823	19	30	.	.	PUNCT
fsr-3823	20	1	between	between	ADP
fsr-3823	20	2	the	the	DET
fsr-3823	20	3	end	end	NOUN
fsr-3823	20	4	of	of	ADP
fsr-3823	20	5	war	war	PROPN
fsr-3823	20	6	ii	ii	PROPN
fsr-3823	20	7	and	and	CCONJ
fsr-3823	20	8	1985	1985	NUM
fsr-3823	20	9	when	when	SCONJ
fsr-3823	20	10	non	non	ADJ
fsr-3823	20	11	-	-	ADJ
fsr-3823	20	12	equity	equity	ADJ
fsr-3823	20	13	investment	investment	NOUN
fsr-3823	20	14	returns	return	NOUN
fsr-3823	20	15	followed	follow	VERB
fsr-3823	20	16	an	an	DET
fsr-3823	20	17	upwardly	upwardly	NOUN
fsr-3823	20	18	sloping	slope	VERB
fsr-3823	20	19	trend	trend	NOUN
fsr-3823	20	20	,	,	PUNCT
fsr-3823	20	21	insurer	insurer	NOUN
fsr-3823	20	22	performance	performance	NOUN
fsr-3823	20	23	exceeded	exceed	VERB
fsr-3823	20	24	consumer	consumer	NOUN
fsr-3823	20	25	expectations	expectation	NOUN
fsr-3823	20	26	created	create	VERB
fsr-3823	20	27	dur	dur	PROPN
fsr-3823	20	28	ing	ing	ADJ
fsr-3823	20	29	typical	typical	ADJ
fsr-3823	20	30	sales	sale	NOUN
fsr-3823	20	31	interviews	interview	NOUN
fsr-3823	20	32	.	.	PUNCT
fsr-3823	21	1	in	in	ADP
fsr-3823	21	2	the	the	DET
fsr-3823	21	3	post1985	post1985	PROPN
fsr-3823	21	4	environment	environment	NOUN
fsr-3823	21	5	of	of	ADP
fsr-3823	21	6	lower	low	ADJ
fsr-3823	21	7	returns	return	NOUN
fsr-3823	21	8	on	on	ADP
fsr-3823	21	9	bonds	bond	NOUN
fsr-3823	21	10	,	,	PUNCT
fsr-3823	21	11	mort	mort	NOUN
fsr-3823	21	12	gages	gage	NOUN
fsr-3823	21	13	and	and	CCONJ
fsr-3823	21	14	other	other	ADJ
fsr-3823	21	15	non	non	ADJ
fsr-3823	21	16	-	-	ADJ
fsr-3823	21	17	equity	equity	ADJ
fsr-3823	21	18	investments	investment	NOUN
fsr-3823	21	19	,	,	PUNCT
fsr-3823	21	20	it	it	PRON
fsr-3823	21	21	has	have	AUX
fsr-3823	21	22	become	become	VERB
fsr-3823	21	23	important	important	ADJ
fsr-3823	21	24	to	to	PART
fsr-3823	21	25	seek	seek	VERB
fsr-3823	21	26	new	new	ADJ
fsr-3823	21	27	ways	way	NOUN
fsr-3823	21	28	to	to	PART
fsr-3823	21	29	set	set	VERB
fsr-3823	21	30	client	client	NOUN
fsr-3823	21	31	expectations	expectation	NOUN
fsr-3823	21	32	that	that	PRON
fsr-3823	21	33	will	will	AUX
fsr-3823	21	34	result	result	VERB
fsr-3823	21	35	in	in	ADP
fsr-3823	21	36	long	long	ADV
fsr-3823	21	37	-	-	PUNCT
fsr-3823	21	38	run	run	VERB
fsr-3823	21	39	consumer	consumer	NOUN
fsr-3823	21	40	satisfaction	satisfaction	NOUN
fsr-3823	21	41	rather	rather	ADV
fsr-3823	21	42	than	than	ADP
fsr-3823	21	43	the	the	DET
fsr-3823	21	44	dissat	dissat	ADJ
fsr-3823	21	45	isfaction	isfaction	NOUN
fsr-3823	21	46	being	be	AUX
fsr-3823	21	47	expressed	express	VERB
fsr-3823	21	48	in	in	ADP
fsr-3823	21	49	the	the	DET
fsr-3823	21	50	1990s	1990s	NUM
fsr-3823	21	51	.	.	PUNCT
fsr-3823	22	1	the	the	DET
fsr-3823	22	2	illustration	illustration	NOUN
fsr-3823	22	3	of	of	ADP
fsr-3823	22	4	returns	return	NOUN
fsr-3823	22	5	consistent	consistent	ADJ
fsr-3823	22	6	with	with	ADP
fsr-3823	22	7	historical	historical	ADJ
fsr-3823	22	8	experience	experience	NOUN
fsr-3823	22	9	deserves	deserve	VERB
fsr-3823	22	10	consideration	consideration	NOUN
fsr-3823	22	11	.	.	PUNCT
fsr-3823	23	1	the	the	DET
fsr-3823	23	2	question	question	NOUN
fsr-3823	23	3	raised	raise	VERB
fsr-3823	23	4	in	in	ADP
fsr-3823	23	5	this	this	DET
fsr-3823	23	6	article	article	NOUN
fsr-3823	23	7	is	be	AUX
fsr-3823	23	8	:	:	PUNCT
fsr-3823	23	9	is	be	AUX
fsr-3823	23	10	it	it	PRON
fsr-3823	23	11	feasible	feasible	ADJ
fsr-3823	23	12	for	for	ADP
fsr-3823	23	13	a	a	DET
fsr-3823	23	14	financial	financial	ADJ
fsr-3823	23	15	planner	planner	NOUN
fsr-3823	23	16	to	to	PART
fsr-3823	23	17	use	use	VERB
fsr-3823	23	18	history	history	NOUN
fsr-3823	23	19	in	in	ADP
fsr-3823	23	20	determining	determine	VERB
fsr-3823	23	21	a	a	DET
fsr-3823	23	22	range	range	NOUN
fsr-3823	23	23	of	of	ADP
fsr-3823	23	24	credible	credible	ADJ
fsr-3823	23	25	investment	investment	NOUN
fsr-3823	23	26	return	return	NOUN
fsr-3823	23	27	assumptions	assumption	NOUN
fsr-3823	23	28	for	for	ADP
fsr-3823	23	29	life	life	NOUN
fsr-3823	23	30	insurance	insurance	NOUN
fsr-3823	23	31	sales	sale	NOUN
fsr-3823	23	32	illus	illus	ADJ
fsr-3823	23	33	trations	tration	NOUN
fsr-3823	23	34	?	?	PUNCT
fsr-3823	24	1	the	the	DET
fsr-3823	24	2	scope	scope	NOUN
fsr-3823	24	3	of	of	ADP
fsr-3823	24	4	the	the	DET
fsr-3823	24	5	article	article	NOUN
fsr-3823	24	6	is	be	AUX
fsr-3823	24	7	limited	limit	VERB
fsr-3823	24	8	to	to	ADP
fsr-3823	24	9	fixed	fix	VERB
fsr-3823	24	10	-	-	PUNCT
fsr-3823	24	11	dollar	dollar	NOUN
fsr-3823	24	12	products	product	NOUN
fsr-3823	24	13	such	such	ADJ
fsr-3823	24	14	as	as	ADP
fsr-3823	24	15	traditional	traditional	ADJ
fsr-3823	24	16	par	par	NOUN
fsr-3823	24	17	ticipating	ticipate	VERB
fsr-3823	24	18	whole	whole	ADJ
fsr-3823	24	19	life	life	NOUN
fsr-3823	24	20	insurance	insurance	NOUN
fsr-3823	24	21	and	and	CCONJ
fsr-3823	24	22	interest	interest	NOUN
fsr-3823	24	23	-	-	PUNCT
fsr-3823	24	24	sensitive	sensitive	ADJ
fsr-3823	24	25	policies	policy	NOUN
fsr-3823	24	26	with	with	ADP
fsr-3823	24	27	non	non	ADJ
fsr-3823	24	28	-	-	ADJ
fsr-3823	24	29	guaranteed	guarantee	VERB
fsr-3823	24	30	elements	element	NOUN
fsr-3823	24	31	.	.	PUNCT
fsr-3823	25	1	after	after	ADP
fsr-3823	25	2	providing	provide	VERB
fsr-3823	25	3	more	more	ADJ
fsr-3823	25	4	background	background	NOUN
fsr-3823	25	5	,	,	PUNCT
fsr-3823	25	6	a	a	DET
fsr-3823	25	7	method	method	NOUN
fsr-3823	25	8	of	of	ADP
fsr-3823	25	9	incorporating	incorporate	VERB
fsr-3823	25	10	historical	historical	ADJ
fsr-3823	25	11	investment	investment	NOUN
fsr-3823	25	12	returns	return	NOUN
fsr-3823	25	13	into	into	ADP
fsr-3823	25	14	the	the	DET
fsr-3823	25	15	projection	projection	NOUN
fsr-3823	25	16	of	of	ADP
fsr-3823	25	17	a	a	DET
fsr-3823	25	18	range	range	NOUN
fsr-3823	25	19	of	of	ADP
fsr-3823	25	20	future	future	ADJ
fsr-3823	25	21	returns	return	NOUN
fsr-3823	25	22	is	be	AUX
fsr-3823	25	23	described	describe	VERB
fsr-3823	25	24	.	.	PUNCT
fsr-3823	26	1	the	the	DET
fsr-3823	26	2	remainder	remainder	NOUN
fsr-3823	26	3	of	of	ADP
fsr-3823	26	4	the	the	DET
fsr-3823	26	5	article	article	NOUN
fsr-3823	26	6	presents	present	VERB
fsr-3823	26	7	the	the	DET
fsr-3823	26	8	results	result	NOUN
fsr-3823	26	9	of	of	ADP
fsr-3823	26	10	using	use	VERB
fsr-3823	26	11	historical	historical	ADJ
fsr-3823	26	12	returns	return	NOUN
fsr-3823	26	13	to	to	PART
fsr-3823	26	14	project	project	VERB
fsr-3823	26	15	ranges	range	NOUN
fsr-3823	26	16	of	of	ADP
fsr-3823	26	17	future	future	ADJ
fsr-3823	26	18	rates	rate	NOUN
fsr-3823	26	19	of	of	ADP
fsr-3823	26	20	return	return	NOUN
fsr-3823	26	21	over	over	ADP
fsr-3823	26	22	50	50	NUM
fsr-3823	26	23	years	year	NOUN
fsr-3823	26	24	.	.	PUNCT
fsr-3823	27	1	the	the	DET
fsr-3823	27	2	article	article	NOUN
fsr-3823	27	3	ends	end	VERB
fsr-3823	27	4	with	with	ADP
fsr-3823	27	5	conclusions	conclusion	NOUN
fsr-3823	27	6	.	.	PUNCT
fsr-3823	28	1	ii	ii	PROPN
fsr-3823	28	2	.	.	PUNCT
fsr-3823	28	3	background	background	NOUN
fsr-3823	28	4	around	around	ADP
fsr-3823	28	5	1980	1980	NUM
fsr-3823	28	6	,	,	PUNCT
fsr-3823	28	7	life	life	NOUN
fsr-3823	28	8	insurers	insurer	NOUN
fsr-3823	28	9	were	be	AUX
fsr-3823	28	10	illustrating	illustrate	VERB
fsr-3823	28	11	long	long	ADJ
fsr-3823	28	12	-	-	PUNCT
fsr-3823	28	13	term	term	NOUN
fsr-3823	28	14	universal	universal	ADJ
fsr-3823	28	15	life	life	NOUN
fsr-3823	28	16	performance	performance	NOUN
fsr-3823	28	17	with	with	ADP
fsr-3823	28	18	investment	investment	NOUN
fsr-3823	28	19	assumptions	assumption	NOUN
fsr-3823	28	20	as	as	ADV
fsr-3823	28	21	high	high	ADJ
fsr-3823	28	22	as	as	ADP
fsr-3823	28	23	14	14	NUM
fsr-3823	28	24	percent	percent	NOUN
fsr-3823	28	25	,	,	PUNCT
fsr-3823	28	26	the	the	DET
fsr-3823	28	27	current	current	ADJ
fsr-3823	28	28	crediting	crediting	NOUN
fsr-3823	28	29	rate	rate	NOUN
fsr-3823	28	30	for	for	ADP
fsr-3823	28	31	the	the	DET
fsr-3823	28	32	insurers	insurer	NOUN
fsr-3823	28	33	involved	involve	VERB
fsr-3823	28	34	.	.	PUNCT
fsr-3823	29	1	the	the	DET
fsr-3823	29	2	only	only	ADJ
fsr-3823	29	3	other	other	ADJ
fsr-3823	29	4	illustrated	illustrate	VERB
fsr-3823	29	5	values	value	NOUN
fsr-3823	29	6	,	,	PUNCT
fsr-3823	29	7	in	in	ADP
fsr-3823	29	8	some	some	DET
fsr-3823	29	9	illustrations	illustration	NOUN
fsr-3823	29	10	,	,	PUNCT
fsr-3823	29	11	were	be	AUX
fsr-3823	29	12	the	the	DET
fsr-3823	29	13	much	much	ADV
fsr-3823	29	14	lower	low	ADJ
fsr-3823	29	15	guarantees	guarantee	NOUN
fsr-3823	29	16	.	.	PUNCT
fsr-3823	30	1	also	also	ADV
fsr-3823	30	2	,	,	PUNCT
fsr-3823	30	3	it	it	PRON
fsr-3823	30	4	was	be	AUX
fsr-3823	30	5	not	not	PART
fsr-3823	30	6	uncommon	uncommon	ADJ
fsr-3823	30	7	to	to	PART
fsr-3823	30	8	illustrate	illustrate	VERB
fsr-3823	30	9	relatively	relatively	ADV
fsr-3823	30	10	low	low	ADJ
fsr-3823	30	11	level	level	NOUN
fsr-3823	30	12	premiums	premium	NOUN
fsr-3823	30	13	that	that	PRON
fsr-3823	30	14	required	require	VERB
fsr-3823	30	15	the	the	DET
fsr-3823	30	16	continuation	continuation	NOUN
fsr-3823	30	17	of	of	ADP
fsr-3823	30	18	double	double	ADJ
fsr-3823	30	19	digit	digit	NOUN
fsr-3823	30	20	investment	investment	NOUN
fsr-3823	30	21	returns	return	NOUN
fsr-3823	30	22	to	to	PART
fsr-3823	30	23	keep	keep	VERB
fsr-3823	30	24	the	the	DET
fsr-3823	30	25	contract	contract	NOUN
fsr-3823	30	26	in	in	ADP
fsr-3823	30	27	force	force	NOUN
fsr-3823	30	28	to	to	ADP
fsr-3823	30	29	age	age	NOUN
fsr-3823	30	30	100	100	NUM
fsr-3823	30	31	.	.	PUNCT
fsr-3823	31	1	the	the	DET
fsr-3823	31	2	ex	ex	NOUN
fsr-3823	31	3	-	-	ADJ
fsr-3823	31	4	post	post	ADJ
fsr-3823	31	5	result	result	NOUN
fsr-3823	31	6	has	have	AUX
fsr-3823	31	7	been	be	AUX
fsr-3823	31	8	contracts	contract	NOUN
fsr-3823	31	9	that	that	SCONJ
fsr-3823	31	10	,	,	PUNCT
fsr-3823	31	11	with	with	ADP
fsr-3823	31	12	1990s	1990	NOUN
fsr-3823	31	13	performance	performance	NOUN
fsr-3823	31	14	,	,	PUNCT
fsr-3823	31	15	will	will	AUX
fsr-3823	31	16	terminate	terminate	VERB
fsr-3823	31	17	before	before	SCONJ
fsr-3823	31	18	the	the	DET
fsr-3823	31	19	insured	insure	VERB
fsr-3823	31	20	reaches	reach	VERB
fsr-3823	31	21	age	age	NOUN
fsr-3823	31	22	70	70	NUM
fsr-3823	31	23	or	or	CCONJ
fsr-3823	31	24	so	so	ADV
fsr-3823	31	25	unless	unless	SCONJ
fsr-3823	31	26	substantial	substantial	ADJ
fsr-3823	31	27	additional	additional	ADJ
fsr-3823	31	28	premiums	premium	NOUN
fsr-3823	31	29	are	be	AUX
fsr-3823	31	30	paid	pay	VERB
fsr-3823	31	31	.	.	PUNCT
fsr-3823	32	1	the	the	DET
fsr-3823	32	2	author	author	NOUN
fsr-3823	32	3	contends	contend	VERB
fsr-3823	32	4	that	that	SCONJ
fsr-3823	32	5	the	the	DET
fsr-3823	32	6	problem	problem	NOUN
fsr-3823	32	7	is	be	AUX
fsr-3823	32	8	caused	cause	VERB
fsr-3823	32	9	primarily	primarily	ADV
fsr-3823	32	10	by	by	ADP
fsr-3823	32	11	two	two	NUM
fsr-3823	32	12	industry	industry	NOUN
fsr-3823	32	13	practices	practice	NOUN
fsr-3823	32	14	.	.	PUNCT
fsr-3823	33	1	the	the	DET
fsr-3823	33	2	major	major	ADJ
fsr-3823	33	3	problem	problem	NOUN
fsr-3823	33	4	is	be	AUX
fsr-3823	33	5	the	the	DET
fsr-3823	33	6	use	use	NOUN
fsr-3823	33	7	of	of	ADP
fsr-3823	33	8	short	short	ADJ
fsr-3823	33	9	-	-	PUNCT
fsr-3823	33	10	term	term	NOUN
fsr-3823	33	11	assumptions	assumption	NOUN
fsr-3823	33	12	(	(	PUNCT
fsr-3823	33	13	i.e.	i.e.	X
fsr-3823	33	14	,	,	PUNCT
fsr-3823	33	15	“	"	PUNCT
fsr-3823	33	16	current	current	ADJ
fsr-3823	33	17	investment	investment	NOUN
fsr-3823	33	18	returns	return	NOUN
fsr-3823	33	19	”	"	PUNCT
fsr-3823	33	20	)	)	PUNCT
fsr-3823	33	21	in	in	ADP
fsr-3823	33	22	long	long	ADJ
fsr-3823	33	23	-	-	PUNCT
fsr-3823	33	24	term	term	NOUN
fsr-3823	33	25	projections	projection	NOUN
fsr-3823	33	26	.	.	PUNCT
fsr-3823	34	1	the	the	DET
fsr-3823	34	2	“	"	PUNCT
fsr-3823	34	3	investment	investment	NOUN
fsr-3823	34	4	generation	generation	NOUN
fsr-3823	34	5	method	method	NOUN
fsr-3823	34	6	”	"	PUNCT
fsr-3823	34	7	further	far	ADV
fsr-3823	34	8	exaggerates	exaggerate	VERB
fsr-3823	34	9	the	the	DET
fsr-3823	34	10	overstatements	overstatement	NOUN
fsr-3823	34	11	that	that	PRON
fsr-3823	34	12	can	can	AUX
fsr-3823	34	13	result	result	VERB
fsr-3823	34	14	from	from	ADP
fsr-3823	34	15	current	current	ADJ
fsr-3823	34	16	investment	investment	NOUN
fsr-3823	34	17	assumptions	assumption	NOUN
fsr-3823	34	18	.	.	PUNCT
fsr-3823	35	1	the	the	DET
fsr-3823	35	2	second	second	ADJ
fsr-3823	35	3	problem	problem	NOUN
fsr-3823	35	4	is	be	AUX
fsr-3823	35	5	the	the	DET
fsr-3823	35	6	“	"	PUNCT
fsr-3823	35	7	black	black	ADJ
fsr-3823	35	8	box	box	NOUN
fsr-3823	35	9	”	"	PUNCT
fsr-3823	35	10	technique	technique	NOUN
fsr-3823	35	11	of	of	ADP
fsr-3823	35	12	marketing	marketing	NOUN
fsr-3823	35	13	participating	participate	VERB
fsr-3823	35	14	cash	cash	NOUN
fsr-3823	35	15	-	-	PUNCT
fsr-3823	35	16	value	value	NOUN
fsr-3823	35	17	life	life	NOUN
fsr-3823	35	18	insurance	insurance	NOUN
fsr-3823	35	19	.	.	PUNCT
fsr-3823	36	1	the	the	DET
fsr-3823	36	2	con	con	PROPN
fsr-3823	36	3	sumer	sumer	PROPN
fsr-3823	36	4	is	be	AUX
fsr-3823	36	5	presented	present	VERB
fsr-3823	36	6	an	an	DET
fsr-3823	36	7	illustration	illustration	NOUN
fsr-3823	36	8	without	without	ADP
fsr-3823	36	9	any	any	DET
fsr-3823	36	10	disclosure	disclosure	NOUN
fsr-3823	36	11	of	of	ADP
fsr-3823	36	12	underlying	underlie	VERB
fsr-3823	36	13	assumptions	assumption	NOUN
fsr-3823	36	14	.	.	PUNCT
fsr-3823	37	1	thus	thus	ADV
fsr-3823	37	2	,	,	PUNCT
fsr-3823	37	3	assumptions	assumption	NOUN
fsr-3823	37	4	that	that	PRON
fsr-3823	37	5	are	be	AUX
fsr-3823	37	6	unreasonable	unreasonable	ADJ
fsr-3823	37	7	for	for	ADP
fsr-3823	37	8	the	the	DET
fsr-3823	37	9	long	long	ADJ
fsr-3823	37	10	run	run	NOUN
fsr-3823	37	11	are	be	AUX
fsr-3823	37	12	not	not	PART
fsr-3823	37	13	easily	easily	ADV
fsr-3823	37	14	detectable	detectable	ADJ
fsr-3823	37	15	even	even	ADV
fsr-3823	37	16	by	by	ADP
fsr-3823	37	17	finan	finan	PROPN
fsr-3823	37	18	cially	cially	ADV
fsr-3823	37	19	sophisticated	sophisticated	ADJ
fsr-3823	37	20	consumers	consumer	NOUN
fsr-3823	37	21	.	.	PUNCT
fsr-3823	38	1	at	at	ADP
fsr-3823	38	2	least	least	ADJ
fsr-3823	38	3	,	,	PUNCT
fsr-3823	38	4	universal	universal	ADJ
fsr-3823	38	5	life	life	NOUN
fsr-3823	38	6	reveals	reveal	VERB
fsr-3823	38	7	gross	gross	ADJ
fsr-3823	38	8	investment	investment	NOUN
fsr-3823	38	9	returns	return	NOUN
fsr-3823	38	10	.	.	PUNCT
fsr-3823	39	1	of	of	ADP
fsr-3823	39	2	course	course	ADV
fsr-3823	39	3	,	,	PUNCT
fsr-3823	39	4	gross	gross	ADJ
fsr-3823	39	5	returns	return	NOUN
fsr-3823	39	6	differ	differ	VERB
fsr-3823	39	7	substantially	substantially	ADV
fsr-3823	39	8	from	from	ADP
fsr-3823	39	9	net	net	ADJ
fsr-3823	39	10	returns	return	NOUN
fsr-3823	39	11	(	(	PUNCT
fsr-3823	39	12	pritchett	pritchett	PROPN
fsr-3823	39	13	,	,	PUNCT
fsr-3823	39	14	1998	1998	NUM
fsr-3823	39	15	)	)	PUNCT
fsr-3823	39	16	.	.	PUNCT
fsr-3823	40	1	a	a	DET
fsr-3823	40	2	current	current	ADJ
fsr-3823	40	3	investment	investment	NOUN
fsr-3823	40	4	return	return	NOUN
fsr-3823	40	5	can	can	AUX
fsr-3823	40	6	be	be	AUX
fsr-3823	40	7	defined	define	VERB
fsr-3823	40	8	generally	generally	ADV
fsr-3823	40	9	as	as	ADP
fsr-3823	40	10	the	the	DET
fsr-3823	40	11	annual	annual	ADJ
fsr-3823	40	12	rate	rate	NOUN
fsr-3823	40	13	of	of	ADP
fsr-3823	40	14	investment	investment	NOUN
fsr-3823	40	15	return	return	NOUN
fsr-3823	40	16	being	be	AUX
fsr-3823	40	17	realized	realize	VERB
fsr-3823	40	18	currently	currently	ADV
fsr-3823	40	19	by	by	ADP
fsr-3823	40	20	an	an	DET
fsr-3823	40	21	insurer	insurer	NOUN
fsr-3823	40	22	.	.	PUNCT
fsr-3823	41	1	insurers	insurer	NOUN
fsr-3823	41	2	have	have	VERB
fsr-3823	41	3	flexibility	flexibility	NOUN
fsr-3823	41	4	in	in	ADP
fsr-3823	41	5	determining	determine	VERB
fsr-3823	41	6	the	the	DET
fsr-3823	41	7	rate	rate	NOUN
fsr-3823	41	8	of	of	ADP
fsr-3823	41	9	return	return	NOUN
fsr-3823	41	10	in	in	ADP
fsr-3823	41	11	several	several	ADJ
fsr-3823	41	12	important	important	ADJ
fsr-3823	41	13	ways	way	NOUN
fsr-3823	41	14	.	.	PUNCT
fsr-3823	42	1	for	for	ADP
fsr-3823	42	2	example	example	NOUN
fsr-3823	42	3	,	,	PUNCT
fsr-3823	42	4	the	the	DET
fsr-3823	42	5	base	base	NOUN
fsr-3823	42	6	of	of	ADP
fsr-3823	42	7	the	the	DET
fsr-3823	42	8	ratio	ratio	NOUN
fsr-3823	42	9	varies	vary	VERB
fsr-3823	42	10	among	among	ADP
fsr-3823	42	11	insurers	insurer	NOUN
fsr-3823	42	12	(	(	PUNCT
fsr-3823	42	13	e.g.	e.g.	ADV
fsr-3823	42	14	,	,	PUNCT
fsr-3823	42	15	interest	interest	NOUN
fsr-3823	42	16	-	-	PUNCT
fsr-3823	42	17	bearing	bear	VERB
fsr-3823	42	18	liabilities	liability	NOUN
fsr-3823	42	19	plus	plus	CCONJ
fsr-3823	42	20	surplus	surplus	NOUN
fsr-3823	42	21	versus	versus	ADP
fsr-3823	42	22	total	total	ADJ
fsr-3823	42	23	admitted	admit	VERB
fsr-3823	42	24	assets	asset	NOUN
fsr-3823	42	25	)	)	PUNCT
fsr-3823	42	26	;	;	PUNCT
fsr-3823	42	27	perfor	perfor	PROPN
fsr-3823	42	28	historical	historical	ADJ
fsr-3823	42	29	investment	investment	NOUN
fsr-3823	42	30	performance	performance	NOUN
fsr-3823	42	31	157	157	NUM
fsr-3823	42	32	mance	mance	NOUN
fsr-3823	42	33	of	of	ADP
fsr-3823	42	34	the	the	DET
fsr-3823	42	35	entire	entire	ADJ
fsr-3823	42	36	general	general	ADJ
fsr-3823	42	37	account	account	NOUN
fsr-3823	42	38	portfolio	portfolio	NOUN
fsr-3823	42	39	is	be	AUX
fsr-3823	42	40	utilized	utilize	VERB
fsr-3823	42	41	by	by	ADP
fsr-3823	42	42	some	some	PRON
fsr-3823	42	43	compared	compare	VERB
fsr-3823	42	44	to	to	ADP
fsr-3823	42	45	performance	performance	NOUN
fsr-3823	42	46	of	of	ADP
fsr-3823	42	47	a	a	DET
fsr-3823	42	48	segregated	segregated	ADJ
fsr-3823	42	49	portion	portion	NOUN
fsr-3823	42	50	of	of	ADP
fsr-3823	42	51	the	the	DET
fsr-3823	42	52	portfolio	portfolio	NOUN
fsr-3823	42	53	being	be	AUX
fsr-3823	42	54	used	use	VERB
fsr-3823	42	55	by	by	ADP
fsr-3823	42	56	others	other	NOUN
fsr-3823	42	57	;	;	PUNCT
fsr-3823	42	58	investment	investment	NOUN
fsr-3823	42	59	expenses	expense	NOUN
fsr-3823	42	60	are	be	AUX
fsr-3823	42	61	allo	allo	ADJ
fsr-3823	42	62	cated	cat	VERB
fsr-3823	42	63	differently	differently	ADV
fsr-3823	42	64	;	;	PUNCT
fsr-3823	42	65	realized	realize	VERB
fsr-3823	42	66	capital	capital	NOUN
fsr-3823	42	67	gains	gain	NOUN
fsr-3823	42	68	and	and	CCONJ
fsr-3823	42	69	losses	loss	NOUN
fsr-3823	42	70	are	be	AUX
fsr-3823	42	71	added	add	VERB
fsr-3823	42	72	to	to	ADP
fsr-3823	42	73	investment	investment	NOUN
fsr-3823	42	74	income	income	NOUN
fsr-3823	42	75	by	by	ADP
fsr-3823	42	76	some	some	PRON
fsr-3823	42	77	each	each	DET
fsr-3823	42	78	year	year	NOUN
fsr-3823	42	79	while	while	SCONJ
fsr-3823	42	80	others	other	NOUN
fsr-3823	42	81	use	use	VERB
fsr-3823	42	82	various	various	ADJ
fsr-3823	42	83	smoothing	smooth	VERB
fsr-3823	42	84	techniques	technique	NOUN
fsr-3823	42	85	;	;	PUNCT
fsr-3823	42	86	forecasted	forecast	VERB
fsr-3823	42	87	trends	trend	NOUN
fsr-3823	42	88	in	in	ADP
fsr-3823	42	89	investment	investment	NOUN
fsr-3823	42	90	performance	performance	NOUN
fsr-3823	42	91	,	,	PUNCT
fsr-3823	42	92	if	if	SCONJ
fsr-3823	42	93	acknowledged	acknowledge	VERB
fsr-3823	42	94	at	at	ADV
fsr-3823	42	95	all	all	ADV
fsr-3823	42	96	,	,	PUNCT
fsr-3823	42	97	are	be	AUX
fsr-3823	42	98	recognized	recognize	VERB
fsr-3823	42	99	with	with	ADP
fsr-3823	42	100	different	different	ADJ
fsr-3823	42	101	degrees	degree	NOUN
fsr-3823	42	102	of	of	ADP
fsr-3823	42	103	optimism	optimism	NOUN
fsr-3823	42	104	or	or	CCONJ
fsr-3823	42	105	pessimism	pessimism	NOUN
fsr-3823	42	106	;	;	PUNCT
fsr-3823	42	107	and	and	CCONJ
fsr-3823	42	108	what	what	PRON
fsr-3823	42	109	competitors	competitor	NOUN
fsr-3823	42	110	are	be	AUX
fsr-3823	42	111	paying	pay	VERB
fsr-3823	42	112	is	be	AUX
fsr-3823	42	113	matched	match	VERB
fsr-3823	42	114	to	to	ADP
fsr-3823	42	115	different	different	ADJ
fsr-3823	42	116	degrees	degree	NOUN
fsr-3823	42	117	(	(	PUNCT
fsr-3823	42	118	miller	miller	NOUN
fsr-3823	42	119	,	,	PUNCT
fsr-3823	42	120	1996	1996	NUM
fsr-3823	42	121	)	)	PUNCT
fsr-3823	42	122	.	.	PUNCT
fsr-3823	43	1	the	the	DET
fsr-3823	43	2	traditional	traditional	ADJ
fsr-3823	43	3	approach	approach	NOUN
fsr-3823	43	4	in	in	ADP
fsr-3823	43	5	determining	determine	VERB
fsr-3823	43	6	policyowner	policyowner	ADJ
fsr-3823	43	7	dividends	dividend	NOUN
fsr-3823	43	8	for	for	ADP
fsr-3823	43	9	participating	participate	VERB
fsr-3823	43	10	busi	busi	NOUN
fsr-3823	43	11	ness	ness	NOUN
fsr-3823	43	12	is	be	AUX
fsr-3823	43	13	to	to	PART
fsr-3823	43	14	determine	determine	VERB
fsr-3823	43	15	the	the	DET
fsr-3823	43	16	current	current	ADJ
fsr-3823	43	17	net	net	ADJ
fsr-3823	43	18	rate	rate	NOUN
fsr-3823	43	19	of	of	ADP
fsr-3823	43	20	return	return	NOUN
fsr-3823	43	21	for	for	ADP
fsr-3823	43	22	the	the	DET
fsr-3823	43	23	entire	entire	ADJ
fsr-3823	43	24	general	general	ADJ
fsr-3823	43	25	account	account	NOUN
fsr-3823	43	26	.	.	PUNCT
fsr-3823	44	1	a	a	DET
fsr-3823	44	2	general	general	ADJ
fsr-3823	44	3	account	account	NOUN
fsr-3823	44	4	being	be	AUX
fsr-3823	44	5	an	an	DET
fsr-3823	44	6	undivided	undivided	ADJ
fsr-3823	44	7	investment	investment	NOUN
fsr-3823	44	8	account	account	NOUN
fsr-3823	44	9	that	that	PRON
fsr-3823	44	10	supports	support	VERB
fsr-3823	44	11	an	an	DET
fsr-3823	44	12	insurer	insurer	NOUN
fsr-3823	44	13	’s	’s	PART
fsr-3823	44	14	guaranteed	guarantee	VERB
fsr-3823	44	15	,	,	PUNCT
fsr-3823	44	16	fixed	fix	VERB
fsr-3823	44	17	-	-	PUNCT
fsr-3823	44	18	dollar	dollar	NOUN
fsr-3823	44	19	products	product	NOUN
fsr-3823	44	20	such	such	ADJ
fsr-3823	44	21	as	as	ADP
fsr-3823	44	22	ordinary	ordinary	ADJ
fsr-3823	44	23	life	life	NOUN
fsr-3823	44	24	insurance	insurance	NOUN
fsr-3823	44	25	,	,	PUNCT
fsr-3823	44	26	universal	universal	ADJ
fsr-3823	44	27	life	life	NOUN
fsr-3823	44	28	insurance	insurance	NOUN
fsr-3823	44	29	,	,	PUNCT
fsr-3823	44	30	and	and	CCONJ
fsr-3823	44	31	fixed	fix	VERB
fsr-3823	44	32	dollar	dollar	NOUN
fsr-3823	44	33	annuities	annuity	NOUN
fsr-3823	44	34	.	.	PUNCT
fsr-3823	45	1	then	then	ADV
fsr-3823	45	2	,	,	PUNCT
fsr-3823	45	3	this	this	DET
fsr-3823	45	4	“	"	PUNCT
fsr-3823	45	5	average	average	ADJ
fsr-3823	45	6	portfolio	portfolio	NOUN
fsr-3823	45	7	rate	rate	NOUN
fsr-3823	45	8	”	"	PUNCT
fsr-3823	45	9	is	be	AUX
fsr-3823	45	10	used	use	VERB
fsr-3823	45	11	,	,	PUNCT
fsr-3823	45	12	along	along	ADP
fsr-3823	45	13	with	with	ADP
fsr-3823	45	14	other	other	ADJ
fsr-3823	45	15	actuarial	actuarial	ADJ
fsr-3823	45	16	fac	fac	PROPN
fsr-3823	45	17	tors	tor	NOUN
fsr-3823	45	18	,	,	PUNCT
fsr-3823	45	19	to	to	PART
fsr-3823	45	20	calculate	calculate	VERB
fsr-3823	45	21	the	the	DET
fsr-3823	45	22	current	current	ADJ
fsr-3823	45	23	dividend	dividend	NOUN
fsr-3823	45	24	scale	scale	NOUN
fsr-3823	45	25	.	.	PUNCT
fsr-3823	46	1	the	the	DET
fsr-3823	46	2	current	current	ADJ
fsr-3823	46	3	dividend	dividend	NOUN
fsr-3823	46	4	scale	scale	NOUN
fsr-3823	46	5	is	be	AUX
fsr-3823	46	6	used	use	VERB
fsr-3823	46	7	to	to	PART
fsr-3823	46	8	determine	determine	VERB
fsr-3823	46	9	the	the	DET
fsr-3823	46	10	maximum	maximum	ADJ
fsr-3823	46	11	values	value	NOUN
fsr-3823	46	12	shown	show	VERB
fsr-3823	46	13	in	in	ADP
fsr-3823	46	14	sales	sale	NOUN
fsr-3823	46	15	illustrations	illustration	NOUN
fsr-3823	46	16	.	.	PUNCT
fsr-3823	47	1	insurers	insurer	NOUN
fsr-3823	47	2	usually	usually	ADV
fsr-3823	47	3	use	use	VERB
fsr-3823	47	4	their	their	PRON
fsr-3823	47	5	best	good	ADJ
fsr-3823	47	6	judgement	judgement	NOUN
fsr-3823	47	7	in	in	ADP
fsr-3823	47	8	setting	set	VERB
fsr-3823	47	9	a	a	DET
fsr-3823	47	10	dividend	dividend	NOUN
fsr-3823	47	11	scale	scale	NOUN
fsr-3823	47	12	that	that	PRON
fsr-3823	47	13	can	can	AUX
fsr-3823	47	14	remain	remain	VERB
fsr-3823	47	15	unchanged	unchanged	ADJ
fsr-3823	47	16	for	for	ADP
fsr-3823	47	17	several	several	ADJ
fsr-3823	47	18	years	year	NOUN
fsr-3823	47	19	.	.	PUNCT
fsr-3823	48	1	the	the	DET
fsr-3823	48	2	length	length	NOUN
fsr-3823	48	3	of	of	ADP
fsr-3823	48	4	time	time	NOUN
fsr-3823	48	5	over	over	ADP
fsr-3823	48	6	which	which	PRON
fsr-3823	48	7	the	the	DET
fsr-3823	48	8	average	average	NOUN
fsr-3823	48	9	reflects	reflect	VERB
fsr-3823	48	10	historical	historical	ADJ
fsr-3823	48	11	returns	return	NOUN
fsr-3823	48	12	is	be	AUX
fsr-3823	48	13	influenced	influence	VERB
fsr-3823	48	14	by	by	ADP
fsr-3823	48	15	asset	asset	NOUN
fsr-3823	48	16	maturities	maturity	NOUN
fsr-3823	48	17	,	,	PUNCT
fsr-3823	48	18	portfolio	portfolio	NOUN
fsr-3823	48	19	turnover	turnover	NOUN
fsr-3823	48	20	,	,	PUNCT
fsr-3823	48	21	policy	policy	NOUN
fsr-3823	48	22	lapse	lapse	NOUN
fsr-3823	48	23	rates	rate	NOUN
fsr-3823	48	24	,	,	PUNCT
fsr-3823	48	25	growth	growth	NOUN
fsr-3823	48	26	in	in	ADP
fsr-3823	48	27	sales	sale	NOUN
fsr-3823	48	28	and	and	CCONJ
fsr-3823	48	29	reserves	reserve	NOUN
fsr-3823	48	30	,	,	PUNCT
fsr-3823	48	31	and	and	CCONJ
fsr-3823	48	32	other	other	ADJ
fsr-3823	48	33	factors	factor	NOUN
fsr-3823	48	34	.	.	PUNCT
fsr-3823	49	1	for	for	ADP
fsr-3823	49	2	a	a	DET
fsr-3823	49	3	typical	typical	ADJ
fsr-3823	49	4	insurer	insurer	NOUN
fsr-3823	49	5	the	the	DET
fsr-3823	49	6	average	average	NOUN
fsr-3823	49	7	is	be	AUX
fsr-3823	49	8	likely	likely	ADJ
fsr-3823	49	9	to	to	PART
fsr-3823	49	10	be	be	AUX
fsr-3823	49	11	weighted	weight	VERB
fsr-3823	49	12	by	by	ADP
fsr-3823	49	13	returns	return	NOUN
fsr-3823	49	14	on	on	ADP
fsr-3823	49	15	relatively	relatively	ADV
fsr-3823	49	16	recently	recently	ADV
fsr-3823	49	17	purchased	purchase	VERB
fsr-3823	49	18	assets	asset	NOUN
fsr-3823	49	19	.	.	PUNCT
fsr-3823	50	1	yet	yet	ADV
fsr-3823	50	2	,	,	PUNCT
fsr-3823	50	3	several	several	ADJ
fsr-3823	50	4	years	year	NOUN
fsr-3823	50	5	of	of	ADP
fsr-3823	50	6	history	history	NOUN
fsr-3823	50	7	are	be	AUX
fsr-3823	50	8	recognized	recognize	VERB
fsr-3823	50	9	.	.	PUNCT
fsr-3823	51	1	thirty	thirty	NUM
fsr-3823	51	2	seven	seven	NUM
fsr-3823	51	3	percent	percent	NOUN
fsr-3823	51	4	of	of	ADP
fsr-3823	51	5	life	life	NOUN
fsr-3823	51	6	insurers	insurer	NOUN
fsr-3823	51	7	responding	respond	VERB
fsr-3823	51	8	to	to	ADP
fsr-3823	51	9	a	a	DET
fsr-3823	51	10	recent	recent	ADJ
fsr-3823	51	11	survey	survey	NOUN
fsr-3823	51	12	reported	report	VERB
fsr-3823	51	13	using	use	VERB
fsr-3823	51	14	the	the	DET
fsr-3823	51	15	investment	investment	NOUN
fsr-3823	51	16	generation	generation	NOUN
fsr-3823	51	17	method	method	NOUN
fsr-3823	51	18	(	(	PUNCT
fsr-3823	51	19	also	also	ADV
fsr-3823	51	20	called	call	VERB
fsr-3823	51	21	the	the	DET
fsr-3823	51	22	“	"	PUNCT
fsr-3823	51	23	investment	investment	NOUN
fsr-3823	51	24	year	year	NOUN
fsr-3823	51	25	”	"	PUNCT
fsr-3823	51	26	and	and	CCONJ
fsr-3823	51	27	“	"	PUNCT
fsr-3823	51	28	new	new	ADJ
fsr-3823	51	29	money	money	NOUN
fsr-3823	51	30	”	"	PUNCT
fsr-3823	51	31	meth	meth	NOUN
fsr-3823	51	32	ods	od	NOUN
fsr-3823	51	33	)	)	PUNCT
fsr-3823	51	34	,	,	PUNCT
fsr-3823	51	35	or	or	CCONJ
fsr-3823	51	36	some	some	DET
fsr-3823	51	37	modification	modification	NOUN
fsr-3823	51	38	thereof	thereof	ADV
fsr-3823	51	39	,	,	PUNCT
fsr-3823	51	40	in	in	ADP
fsr-3823	51	41	determining	determine	VERB
fsr-3823	51	42	dividend	dividend	NOUN
fsr-3823	51	43	or	or	CCONJ
fsr-3823	51	44	other	other	ADJ
fsr-3823	51	45	crediting	crediting	NOUN
fsr-3823	51	46	rates	rate	NOUN
fsr-3823	51	47	for	for	ADP
fsr-3823	51	48	at	at	ADV
fsr-3823	51	49	least	least	ADJ
fsr-3823	51	50	some	some	PRON
fsr-3823	51	51	plans	plan	NOUN
fsr-3823	51	52	.	.	PUNCT
fsr-3823	52	1	the	the	DET
fsr-3823	52	2	predominant	predominant	ADJ
fsr-3823	52	3	use	use	NOUN
fsr-3823	52	4	is	be	AUX
fsr-3823	52	5	with	with	ADP
fsr-3823	52	6	universal	universal	ADJ
fsr-3823	52	7	and	and	CCONJ
fsr-3823	52	8	other	other	ADJ
fsr-3823	52	9	interest	interest	NOUN
fsr-3823	52	10	-	-	PUNCT
fsr-3823	52	11	sensitive	sensitive	ADJ
fsr-3823	52	12	con	con	NOUN
fsr-3823	52	13	tracts	tract	NOUN
fsr-3823	52	14	.	.	PUNCT
fsr-3823	53	1	the	the	DET
fsr-3823	53	2	method	method	NOUN
fsr-3823	53	3	segregates	segregate	VERB
fsr-3823	53	4	policies	policy	NOUN
fsr-3823	53	5	into	into	ADP
fsr-3823	53	6	different	different	ADJ
fsr-3823	53	7	cells	cell	NOUN
fsr-3823	53	8	(	(	PUNCT
fsr-3823	53	9	i.e.	i.e.	X
fsr-3823	53	10	,	,	PUNCT
fsr-3823	53	11	generations	generation	NOUN
fsr-3823	53	12	)	)	PUNCT
fsr-3823	53	13	associated	associate	VERB
fsr-3823	53	14	with	with	ADP
fsr-3823	53	15	assets	asset	NOUN
fsr-3823	53	16	purchased	purchase	VERB
fsr-3823	53	17	during	during	ADP
fsr-3823	53	18	specific	specific	ADJ
fsr-3823	53	19	years	year	NOUN
fsr-3823	53	20	(	(	PUNCT
fsr-3823	53	21	i.e.	i.e.	X
fsr-3823	53	22	,	,	PUNCT
fsr-3823	53	23	generations	generation	NOUN
fsr-3823	53	24	)	)	PUNCT
fsr-3823	53	25	.	.	PUNCT
fsr-3823	54	1	a	a	DET
fsr-3823	54	2	different	different	ADJ
fsr-3823	54	3	rate	rate	NOUN
fsr-3823	54	4	of	of	ADP
fsr-3823	54	5	return	return	NOUN
fsr-3823	54	6	is	be	AUX
fsr-3823	54	7	cred	cre	VERB
fsr-3823	54	8	ited	ite	VERB
fsr-3823	54	9	on	on	ADP
fsr-3823	54	10	funds	fund	NOUN
fsr-3823	54	11	associated	associate	VERB
fsr-3823	54	12	with	with	ADP
fsr-3823	54	13	each	each	DET
fsr-3823	54	14	year	year	NOUN
fsr-3823	54	15	assets	asset	NOUN
fsr-3823	54	16	are	be	AUX
fsr-3823	54	17	generated	generate	VERB
fsr-3823	54	18	by	by	ADP
fsr-3823	54	19	a	a	DET
fsr-3823	54	20	policy	policy	NOUN
fsr-3823	54	21	.	.	PUNCT
fsr-3823	55	1	portfolio	portfolio	NOUN
fsr-3823	55	2	turnover	turnover	NOUN
fsr-3823	55	3	and	and	CCONJ
fsr-3823	55	4	new	new	ADJ
fsr-3823	55	5	purchases	purchase	NOUN
fsr-3823	55	6	cause	cause	VERB
fsr-3823	55	7	a	a	DET
fsr-3823	55	8	policy	policy	NOUN
fsr-3823	55	9	’s	’s	PART
fsr-3823	55	10	return	return	NOUN
fsr-3823	55	11	associated	associate	VERB
fsr-3823	55	12	with	with	ADP
fsr-3823	55	13	a	a	DET
fsr-3823	55	14	particular	particular	ADJ
fsr-3823	55	15	year	year	NOUN
fsr-3823	55	16	to	to	PART
fsr-3823	55	17	change	change	VERB
fsr-3823	55	18	over	over	ADP
fsr-3823	55	19	time	time	NOUN
fsr-3823	55	20	.	.	PUNCT
fsr-3823	56	1	the	the	DET
fsr-3823	56	2	major	major	ADJ
fsr-3823	56	3	problem	problem	NOUN
fsr-3823	56	4	is	be	AUX
fsr-3823	56	5	that	that	SCONJ
fsr-3823	56	6	new	new	ADJ
fsr-3823	56	7	contracts	contract	NOUN
fsr-3823	56	8	may	may	AUX
fsr-3823	56	9	be	be	AUX
fsr-3823	56	10	accompanied	accompany	VERB
fsr-3823	56	11	by	by	ADP
fsr-3823	56	12	sales	sale	NOUN
fsr-3823	56	13	illustrations	illustration	NOUN
fsr-3823	56	14	where	where	SCONJ
fsr-3823	56	15	the	the	DET
fsr-3823	56	16	maximum	maximum	ADJ
fsr-3823	56	17	values	value	NOUN
fsr-3823	56	18	reflect	reflect	VERB
fsr-3823	56	19	investment	investment	NOUN
fsr-3823	56	20	returns	return	NOUN
fsr-3823	56	21	for	for	ADP
fsr-3823	56	22	new	new	ADJ
fsr-3823	56	23	investments	investment	NOUN
fsr-3823	56	24	alone	alone	ADV
fsr-3823	56	25	.	.	PUNCT
fsr-3823	57	1	histori	histori	PROPN
fsr-3823	57	2	cal	cal	PROPN
fsr-3823	57	3	returns	return	NOUN
fsr-3823	57	4	,	,	PUNCT
fsr-3823	57	5	for	for	ADP
fsr-3823	57	6	anything	anything	PRON
fsr-3823	57	7	more	more	ADJ
fsr-3823	57	8	than	than	ADP
fsr-3823	57	9	a	a	DET
fsr-3823	57	10	few	few	ADJ
fsr-3823	57	11	months	month	NOUN
fsr-3823	57	12	or	or	CCONJ
fsr-3823	57	13	a	a	DET
fsr-3823	57	14	year	year	NOUN
fsr-3823	57	15	,	,	PUNCT
fsr-3823	57	16	may	may	AUX
fsr-3823	57	17	have	have	AUX
fsr-3823	57	18	been	be	AUX
fsr-3823	57	19	ignored	ignore	VERB
fsr-3823	57	20	in	in	ADP
fsr-3823	57	21	the	the	DET
fsr-3823	57	22	past	past	NOUN
fsr-3823	57	23	.	.	PUNCT
fsr-3823	58	1	essentially	essentially	ADV
fsr-3823	58	2	peak	peak	ADJ
fsr-3823	58	3	returns	return	NOUN
fsr-3823	58	4	were	be	AUX
fsr-3823	58	5	compounded	compound	VERB
fsr-3823	58	6	over	over	ADP
fsr-3823	58	7	the	the	DET
fsr-3823	58	8	entire	entire	ADJ
fsr-3823	58	9	potential	potential	ADJ
fsr-3823	58	10	life	life	NOUN
fsr-3823	58	11	of	of	ADP
fsr-3823	58	12	a	a	DET
fsr-3823	58	13	policy	policy	NOUN
fsr-3823	58	14	.	.	PUNCT
fsr-3823	59	1	new	new	ADJ
fsr-3823	59	2	regulation	regulation	NOUN
fsr-3823	59	3	and	and	CCONJ
fsr-3823	59	4	guidelines	guideline	NOUN
fsr-3823	59	5	requiring	require	VERB
fsr-3823	59	6	consideration	consideration	NOUN
fsr-3823	59	7	of	of	ADP
fsr-3823	59	8	approximately	approximately	ADV
fsr-3823	59	9	two	two	NUM
fsr-3823	59	10	years	year	NOUN
fsr-3823	59	11	of	of	ADP
fsr-3823	59	12	experience	experience	NOUN
fsr-3823	59	13	represent	represent	VERB
fsr-3823	59	14	little	little	ADJ
fsr-3823	59	15	change	change	NOUN
fsr-3823	59	16	.	.	PUNCT
fsr-3823	60	1	relative	relative	ADJ
fsr-3823	60	2	to	to	ADP
fsr-3823	60	3	the	the	DET
fsr-3823	60	4	portfolio	portfolio	NOUN
fsr-3823	60	5	method	method	NOUN
fsr-3823	60	6	,	,	PUNCT
fsr-3823	60	7	the	the	DET
fsr-3823	60	8	investment	investment	NOUN
fsr-3823	60	9	generation	generation	NOUN
fsr-3823	60	10	method	method	NOUN
fsr-3823	60	11	allows	allow	VERB
fsr-3823	60	12	higher	high	ADJ
fsr-3823	60	13	illustrated	illustrated	ADJ
fsr-3823	60	14	returns	return	NOUN
fsr-3823	60	15	when	when	SCONJ
fsr-3823	60	16	returns	return	NOUN
fsr-3823	60	17	are	be	AUX
fsr-3823	60	18	following	follow	VERB
fsr-3823	60	19	an	an	DET
fsr-3823	60	20	upward	upward	ADJ
fsr-3823	60	21	trend	trend	NOUN
fsr-3823	60	22	.	.	PUNCT
fsr-3823	61	1	likewise	likewise	ADV
fsr-3823	61	2	,	,	PUNCT
fsr-3823	61	3	the	the	DET
fsr-3823	61	4	portfolio	portfolio	NOUN
fsr-3823	61	5	method	method	NOUN
fsr-3823	61	6	tends	tend	VERB
fsr-3823	61	7	to	to	PART
fsr-3823	61	8	be	be	AUX
fsr-3823	61	9	favored	favor	VERB
fsr-3823	61	10	when	when	SCONJ
fsr-3823	61	11	rates	rate	NOUN
fsr-3823	61	12	trend	trend	VERB
fsr-3823	61	13	downward	downward	ADV
fsr-3823	61	14	.	.	PUNCT
fsr-3823	62	1	with	with	SCONJ
fsr-3823	62	2	both	both	CCONJ
fsr-3823	62	3	the	the	DET
fsr-3823	62	4	portfolio	portfolio	NOUN
fsr-3823	62	5	and	and	CCONJ
fsr-3823	62	6	invest	invest	VERB
fsr-3823	62	7	ment	ment	NOUN
fsr-3823	62	8	generation	generation	NOUN
fsr-3823	62	9	methods	method	NOUN
fsr-3823	62	10	in	in	ADP
fsr-3823	62	11	the	the	DET
fsr-3823	62	12	1980s	1980	NOUN
fsr-3823	62	13	agents	agent	NOUN
fsr-3823	62	14	of	of	ADP
fsr-3823	62	15	some	some	DET
fsr-3823	62	16	insurers	insurer	NOUN
fsr-3823	62	17	were	be	AUX
fsr-3823	62	18	allowed	allow	VERB
fsr-3823	62	19	to	to	PART
fsr-3823	62	20	adjust	adjust	VERB
fsr-3823	62	21	assumptions	assumption	NOUN
fsr-3823	62	22	,	,	PUNCT
fsr-3823	62	23	sometimes	sometimes	ADV
fsr-3823	62	24	illustrating	illustrate	VERB
fsr-3823	62	25	returns	return	NOUN
fsr-3823	62	26	greater	great	ADJ
fsr-3823	62	27	than	than	ADP
fsr-3823	62	28	current	current	ADJ
fsr-3823	62	29	insurer	insurer	NOUN
fsr-3823	62	30	experience	experience	NOUN
fsr-3823	62	31	(	(	PUNCT
fsr-3823	62	32	miller	miller	PROPN
fsr-3823	62	33	,	,	PUNCT
fsr-3823	62	34	1996	1996	NUM
fsr-3823	62	35	)	)	PUNCT
fsr-3823	62	36	.	.	PUNCT
fsr-3823	63	1	the	the	DET
fsr-3823	63	2	life	life	NOUN
fsr-3823	63	3	insurance	insurance	NOUN
fsr-3823	63	4	illustrations	illustration	NOUN
fsr-3823	63	5	model	model	NOUN
fsr-3823	63	6	regulation	regulation	NOUN
fsr-3823	63	7	passed	pass	VERB
fsr-3823	63	8	by	by	ADP
fsr-3823	63	9	the	the	DET
fsr-3823	63	10	naic	naic	PROPN
fsr-3823	63	11	in	in	ADP
fsr-3823	63	12	december	december	PROPN
fsr-3823	63	13	1995	1995	NUM
fsr-3823	63	14	changes	change	NOUN
fsr-3823	63	15	,	,	PUNCT
fsr-3823	63	16	but	but	CCONJ
fsr-3823	63	17	only	only	ADV
fsr-3823	63	18	modestly	modestly	ADV
fsr-3823	63	19	in	in	ADP
fsr-3823	63	20	the	the	DET
fsr-3823	63	21	author	author	NOUN
fsr-3823	63	22	’s	’s	PART
fsr-3823	63	23	opinion	opinion	NOUN
fsr-3823	63	24	,	,	PUNCT
fsr-3823	63	25	the	the	DET
fsr-3823	63	26	way	way	NOUN
fsr-3823	63	27	in	in	ADP
fsr-3823	63	28	which	which	PRON
fsr-3823	63	29	current	current	ADJ
fsr-3823	63	30	invest	inv	ADJ
fsr-3823	63	31	ment	ment	NOUN
fsr-3823	63	32	returns	return	NOUN
fsr-3823	63	33	are	be	AUX
fsr-3823	63	34	used	use	VERB
fsr-3823	63	35	in	in	ADP
fsr-3823	63	36	illustrations	illustration	NOUN
fsr-3823	63	37	.	.	PUNCT
fsr-3823	64	1	for	for	ADP
fsr-3823	64	2	example	example	NOUN
fsr-3823	64	3	,	,	PUNCT
fsr-3823	64	4	the	the	DET
fsr-3823	64	5	“	"	PUNCT
fsr-3823	64	6	currently	currently	ADV
fsr-3823	64	7	payable	payable	ADJ
fsr-3823	64	8	scale	scale	NOUN
fsr-3823	64	9	”	"	PUNCT
fsr-3823	64	10	is	be	AUX
fsr-3823	64	11	defined	define	VERB
fsr-3823	64	12	as	as	ADP
fsr-3823	64	13	“	"	PUNCT
fsr-3823	64	14	.	.	PUNCT
fsr-3823	65	1	.a	.a	ADJ
fsr-3823	65	2	scale	scale	NOUN
fsr-3823	65	3	of	of	ADP
fsr-3823	65	4	non	non	ADJ
fsr-3823	65	5	-	-	ADJ
fsr-3823	65	6	guaranteed	guarantee	VERB
fsr-3823	65	7	elements	element	NOUN
fsr-3823	65	8	in	in	ADP
fsr-3823	65	9	effect	effect	NOUN
fsr-3823	65	10	for	for	ADP
fsr-3823	65	11	a	a	DET
fsr-3823	65	12	policy	policy	NOUN
fsr-3823	65	13	form	form	NOUN
fsr-3823	65	14	as	as	ADP
fsr-3823	65	15	of	of	ADP
fsr-3823	65	16	the	the	DET
fsr-3823	65	17	preparation	preparation	NOUN
fsr-3823	65	18	date	date	NOUN
fsr-3823	65	19	of	of	ADP
fsr-3823	65	20	the	the	DET
fsr-3823	65	21	illustration	illustration	NOUN
fsr-3823	65	22	or	or	CCONJ
fsr-3823	65	23	declared	declare	VERB
fsr-3823	65	24	to	to	PART
fsr-3823	65	25	become	become	VERB
fsr-3823	65	26	effective	effective	ADJ
fsr-3823	65	27	within	within	ADP
fsr-3823	65	28	the	the	DET
fsr-3823	65	29	next	next	ADJ
fsr-3823	65	30	ninety	ninety	NUM
fsr-3823	65	31	-	-	PUNCT
fsr-3823	65	32	five	five	NUM
fsr-3823	65	33	(	(	PUNCT
fsr-3823	65	34	95	95	NUM
fsr-3823	65	35	)	)	PUNCT
fsr-3823	65	36	days	day	NOUN
fsr-3823	65	37	.	.	PUNCT
fsr-3823	65	38	”	"	PUNCT
fsr-3823	66	1	further	far	ADV
fsr-3823	66	2	,	,	PUNCT
fsr-3823	66	3	the	the	DET
fsr-3823	66	4	:	:	SYM
fsr-3823	66	5	158	158	NUM
fsr-3823	66	6	financial	financial	ADJ
fsr-3823	66	7	services	service	NOUN
fsr-3823	66	8	review	review	VERB
fsr-3823	66	9	6(3	6(3	NUM
fsr-3823	66	10	)	)	PUNCT
fsr-3823	66	11	1998	1998	NUM
fsr-3823	66	12	disciplined	discipline	VERB
fsr-3823	66	13	current	current	ADJ
fsr-3823	66	14	scale	scale	NOUN
fsr-3823	66	15	means	mean	VERB
fsr-3823	66	16	a	a	DET
fsr-3823	66	17	scale	scale	NOUN
fsr-3823	66	18	of	of	ADP
fsr-3823	66	19	non	non	ADJ
fsr-3823	66	20	-	-	ADJ
fsr-3823	66	21	guaranteed	guaranteed	ADJ
fsr-3823	66	22	elements	element	NOUN
fsr-3823	66	23	constituting	constitute	VERB
fsr-3823	66	24	a	a	DET
fsr-3823	66	25	limit	limit	NOUN
fsr-3823	66	26	on	on	ADP
fsr-3823	66	27	illustrations	illustration	NOUN
fsr-3823	66	28	currently	currently	ADV
fsr-3823	66	29	being	be	AUX
fsr-3823	66	30	illustrated	illustrate	VERB
fsr-3823	66	31	by	by	ADP
fsr-3823	66	32	an	an	DET
fsr-3823	66	33	insurer	insurer	NOUN
fsr-3823	66	34	that	that	PRON
fsr-3823	66	35	is	be	AUX
fsr-3823	66	36	reasonably	reasonably	ADV
fsr-3823	66	37	based	base	VERB
fsr-3823	66	38	on	on	ADP
fsr-3823	66	39	actual	actual	ADJ
fsr-3823	66	40	recent	recent	ADJ
fsr-3823	66	41	historical	historical	ADJ
fsr-3823	66	42	experience	experience	NOUN
fsr-3823	66	43	,	,	PUNCT
fsr-3823	66	44	as	as	SCONJ
fsr-3823	66	45	certified	certify	VERB
fsr-3823	66	46	annually	annually	ADV
fsr-3823	66	47	by	by	ADP
fsr-3823	66	48	an	an	DET
fsr-3823	66	49	illustration	illustration	NOUN
fsr-3823	66	50	actuary	actuary	NOUN
fsr-3823	66	51	des	des	PROPN
fsr-3823	66	52	ignated	ignate	VERB
fsr-3823	66	53	by	by	ADP
fsr-3823	66	54	the	the	DET
fsr-3823	66	55	insurer	insurer	NOUN
fsr-3823	66	56	.	.	PUNCT
fsr-3823	67	1	further	further	ADJ
fsr-3823	67	2	guidance	guidance	NOUN
fsr-3823	67	3	in	in	ADP
fsr-3823	67	4	determining	determine	VERB
fsr-3823	67	5	the	the	DET
fsr-3823	67	6	disciplined	disciplined	ADJ
fsr-3823	67	7	current	current	ADJ
fsr-3823	67	8	scale	scale	NOUN
fsr-3823	67	9	as	as	SCONJ
fsr-3823	67	10	contained	contain	VERB
fsr-3823	67	11	in	in	ADP
fsr-3823	67	12	standards	standard	NOUN
fsr-3823	67	13	established	establish	VERB
fsr-3823	67	14	by	by	ADP
fsr-3823	67	15	the	the	DET
fsr-3823	67	16	actuarial	actuarial	ADJ
fsr-3823	67	17	standards	standard	NOUN
fsr-3823	67	18	board	board	NOUN
fsr-3823	67	19	may	may	AUX
fsr-3823	67	20	be	be	AUX
fsr-3823	67	21	relied	rely	VERB
fsr-3823	67	22	upon	upon	SCONJ
fsr-3823	67	23	if	if	SCONJ
fsr-3823	67	24	the	the	DET
fsr-3823	67	25	standards	standard	NOUN
fsr-3823	67	26	:	:	PUNCT
fsr-3823	67	27	(	(	PUNCT
fsr-3823	67	28	1	1	X
fsr-3823	67	29	)	)	PUNCT
fsr-3823	67	30	are	be	AUX
fsr-3823	67	31	consistent	consistent	ADJ
fsr-3823	67	32	with	with	ADP
fsr-3823	67	33	all	all	DET
fsr-3823	67	34	provisions	provision	NOUN
fsr-3823	67	35	of	of	ADP
fsr-3823	67	36	this	this	DET
fsr-3823	67	37	regulation	regulation	NOUN
fsr-3823	67	38	;	;	PUNCT
fsr-3823	67	39	(	(	PUNCT
fsr-3823	67	40	2	2	X
fsr-3823	67	41	)	)	PUNCT
fsr-3823	67	42	limit	limit	VERB
fsr-3823	67	43	a	a	DET
fsr-3823	67	44	disciplined	disciplined	ADJ
fsr-3823	67	45	current	current	ADJ
fsr-3823	67	46	scale	scale	NOUN
fsr-3823	67	47	to	to	PART
fsr-3823	67	48	reflect	reflect	VERB
fsr-3823	67	49	only	only	ADJ
fsr-3823	67	50	actions	action	NOUN
fsr-3823	67	51	that	that	PRON
fsr-3823	67	52	have	have	AUX
fsr-3823	67	53	already	already	ADV
fsr-3823	67	54	been	be	AUX
fsr-3823	67	55	taken	take	VERB
fsr-3823	67	56	or	or	CCONJ
fsr-3823	67	57	events	event	NOUN
fsr-3823	67	58	that	that	PRON
fsr-3823	67	59	have	have	AUX
fsr-3823	67	60	already	already	ADV
fsr-3823	67	61	occurred	occur	VERB
fsr-3823	67	62	;	;	PUNCT
fsr-3823	67	63	(	(	PUNCT
fsr-3823	67	64	3	3	X
fsr-3823	67	65	)	)	PUNCT
fsr-3823	67	66	do	do	AUX
fsr-3823	67	67	not	not	PART
fsr-3823	67	68	permit	permit	VERB
fsr-3823	67	69	a	a	DET
fsr-3823	67	70	disciplined	disciplined	ADJ
fsr-3823	67	71	current	current	ADJ
fsr-3823	67	72	scale	scale	NOUN
fsr-3823	67	73	to	to	PART
fsr-3823	67	74	include	include	VERB
fsr-3823	67	75	any	any	DET
fsr-3823	67	76	projected	project	VERB
fsr-3823	67	77	trends	trend	NOUN
fsr-3823	67	78	of	of	ADP
fsr-3823	67	79	improvements	improvement	NOUN
fsr-3823	67	80	in	in	ADP
fsr-3823	67	81	experience	experience	NOUN
fsr-3823	67	82	or	or	CCONJ
fsr-3823	67	83	any	any	DET
fsr-3823	67	84	assumed	assume	VERB
fsr-3823	67	85	improvements	improvement	NOUN
fsr-3823	67	86	in	in	ADP
fsr-3823	67	87	expe	expe	ADJ
fsr-3823	67	88	rience	rience	NOUN
fsr-3823	67	89	beyond	beyond	ADP
fsr-3823	67	90	the	the	DET
fsr-3823	67	91	illustration	illustration	NOUN
fsr-3823	67	92	date	date	NOUN
fsr-3823	67	93	..	..	PUNCT
fsr-3823	67	94	.(emphasis	.(emphasis	PUNCT
fsr-3823	68	1	added	add	VERB
fsr-3823	68	2	)	)	PUNCT
fsr-3823	68	3	(	(	PUNCT
fsr-3823	68	4	naic	naic	PROPN
fsr-3823	68	5	,	,	PUNCT
fsr-3823	68	6	1996	1996	NUM
fsr-3823	68	7	,	,	PUNCT
fsr-3823	68	8	p.	p.	NOUN
fsr-3823	68	9	582	582	NUM
fsr-3823	68	10	-	-	SYM
fsr-3823	68	11	2	2	NUM
fsr-3823	68	12	)	)	PUNCT
fsr-3823	68	13	.	.	PUNCT
fsr-3823	69	1	also	also	ADV
fsr-3823	69	2	,	,	PUNCT
fsr-3823	69	3	an	an	DET
fsr-3823	69	4	illustrated	illustrate	VERB
fsr-3823	69	5	scale	scale	NOUN
fsr-3823	69	6	means	mean	VERB
fsr-3823	69	7	a	a	DET
fsr-3823	69	8	scale	scale	NOUN
fsr-3823	69	9	of	of	ADP
fsr-3823	69	10	non	non	ADJ
fsr-3823	69	11	-	-	ADJ
fsr-3823	69	12	guaranteed	guaranteed	ADJ
fsr-3823	69	13	elements	element	NOUN
fsr-3823	69	14	currently	currently	ADV
fsr-3823	69	15	being	be	AUX
fsr-3823	69	16	illustrated	illustrate	VERB
fsr-3823	69	17	that	that	PRON
fsr-3823	69	18	is	be	AUX
fsr-3823	69	19	not	not	PART
fsr-3823	69	20	more	more	ADV
fsr-3823	69	21	favorable	favorable	ADJ
fsr-3823	69	22	to	to	ADP
fsr-3823	69	23	the	the	DET
fsr-3823	69	24	policy	policy	NOUN
fsr-3823	69	25	owner	owner	NOUN
fsr-3823	69	26	than	than	ADP
fsr-3823	69	27	the	the	DET
fsr-3823	69	28	lesser	less	ADJ
fsr-3823	69	29	of	of	ADP
fsr-3823	69	30	:	:	PUNCT
fsr-3823	69	31	(	(	PUNCT
fsr-3823	69	32	1	1	X
fsr-3823	69	33	)	)	PUNCT
fsr-3823	69	34	the	the	DET
fsr-3823	69	35	disciplined	discipline	VERB
fsr-3823	69	36	cur	cur	NOUN
fsr-3823	69	37	rent	rent	NOUN
fsr-3823	69	38	scale	scale	NOUN
fsr-3823	69	39	or	or	CCONJ
fsr-3823	69	40	(	(	PUNCT
fsr-3823	69	41	2	2	X
fsr-3823	69	42	)	)	PUNCT
fsr-3823	69	43	the	the	DET
fsr-3823	69	44	currently	currently	ADV
fsr-3823	69	45	payable	payable	ADJ
fsr-3823	69	46	scale	scale	NOUN
fsr-3823	69	47	(	(	PUNCT
fsr-3823	69	48	naic	naic	PROPN
fsr-3823	69	49	,	,	PUNCT
fsr-3823	69	50	1996	1996	NUM
fsr-3823	69	51	,	,	PUNCT
fsr-3823	69	52	p.	p.	NOUN
fsr-3823	69	53	582	582	NUM
fsr-3823	69	54	-	-	SYM
fsr-3823	69	55	2	2	NUM
fsr-3823	69	56	)	)	PUNCT
fsr-3823	69	57	.	.	PUNCT
fsr-3823	70	1	any	any	DET
fsr-3823	70	2	interest	interest	NOUN
fsr-3823	70	3	rate	rate	NOUN
fsr-3823	70	4	shown	show	VERB
fsr-3823	70	5	“	"	PUNCT
fsr-3823	70	6	shall	shall	AUX
fsr-3823	70	7	not	not	PART
fsr-3823	70	8	be	be	AUX
fsr-3823	70	9	greater	great	ADJ
fsr-3823	70	10	than	than	ADP
fsr-3823	70	11	the	the	DET
fsr-3823	70	12	earned	earn	VERB
fsr-3823	70	13	interest	interest	NOUN
fsr-3823	70	14	rate	rate	NOUN
fsr-3823	70	15	underlying	underlie	VERB
fsr-3823	70	16	the	the	DET
fsr-3823	70	17	disciplined	disciplined	ADJ
fsr-3823	70	18	current	current	ADJ
fsr-3823	70	19	scale	scale	NOUN
fsr-3823	70	20	”	"	PUNCT
fsr-3823	70	21	(	(	PUNCT
fsr-3823	70	22	naic	naic	PROPN
fsr-3823	70	23	,	,	PUNCT
fsr-3823	70	24	1996	1996	NUM
fsr-3823	70	25	,	,	PUNCT
fsr-3823	70	26	p.	p.	NOUN
fsr-3823	70	27	582	582	NUM
fsr-3823	70	28	-	-	SYM
fsr-3823	70	29	2	2	NUM
fsr-3823	70	30	)	)	PUNCT
fsr-3823	70	31	.	.	PUNCT
fsr-3823	71	1	a	a	DET
fsr-3823	71	2	statement	statement	NOUN
fsr-3823	71	3	similar	similar	ADJ
fsr-3823	71	4	to	to	ADP
fsr-3823	71	5	the	the	DET
fsr-3823	71	6	following	follow	VERB
fsr-3823	71	7	is	be	AUX
fsr-3823	71	8	placed	place	VERB
fsr-3823	71	9	in	in	ADP
fsr-3823	71	10	a	a	DET
fsr-3823	71	11	narrative	narrative	ADJ
fsr-3823	71	12	summary	summary	NOUN
fsr-3823	71	13	:	:	PUNCT
fsr-3823	71	14	this	this	DET
fsr-3823	71	15	illustration	illustration	NOUN
fsr-3823	71	16	assumes	assume	VERB
fsr-3823	71	17	that	that	SCONJ
fsr-3823	71	18	the	the	DET
fsr-3823	71	19	currently	currently	ADV
fsr-3823	71	20	illustrated	illustrate	VERB
fsr-3823	71	21	nonguaranteed	nonguaranteed	NOUN
fsr-3823	71	22	elements	element	NOUN
fsr-3823	71	23	will	will	AUX
fsr-3823	71	24	con	con	PROPN
fsr-3823	71	25	tinue	tinue	VERB
fsr-3823	71	26	unchanged	unchanged	ADJ
fsr-3823	71	27	for	for	ADP
fsr-3823	71	28	all	all	DET
fsr-3823	71	29	years	year	NOUN
fsr-3823	71	30	shown	show	VERB
fsr-3823	71	31	.	.	PUNCT
fsr-3823	72	1	this	this	PRON
fsr-3823	72	2	is	be	AUX
fsr-3823	72	3	not	not	PART
fsr-3823	72	4	likely	likely	ADJ
fsr-3823	72	5	to	to	PART
fsr-3823	72	6	occur	occur	VERB
fsr-3823	72	7	,	,	PUNCT
fsr-3823	72	8	and	and	CCONJ
fsr-3823	72	9	actual	actual	ADJ
fsr-3823	72	10	results	result	NOUN
fsr-3823	72	11	may	may	AUX
fsr-3823	72	12	be	be	AUX
fsr-3823	72	13	more	more	ADV
fsr-3823	72	14	or	or	CCONJ
fsr-3823	72	15	less	less	ADV
fsr-3823	72	16	favorable	favorable	ADJ
fsr-3823	72	17	than	than	ADP
fsr-3823	72	18	those	those	PRON
fsr-3823	72	19	shown	show	VERB
fsr-3823	72	20	(	(	PUNCT
fsr-3823	72	21	naic	naic	PROPN
fsr-3823	72	22	,	,	PUNCT
fsr-3823	72	23	1996	1996	NUM
fsr-3823	72	24	,	,	PUNCT
fsr-3823	72	25	p.	p.	NOUN
fsr-3823	72	26	582	582	NUM
fsr-3823	72	27	-	-	SYM
fsr-3823	72	28	7	7	NUM
fsr-3823	72	29	)	)	PUNCT
fsr-3823	72	30	.	.	PUNCT
fsr-3823	73	1	the	the	DET
fsr-3823	73	2	policyowner	policyowner	NOUN
fsr-3823	73	3	also	also	ADV
fsr-3823	73	4	signs	sign	VERB
fsr-3823	73	5	a	a	DET
fsr-3823	73	6	statement	statement	NOUN
fsr-3823	73	7	regarding	regard	VERB
fsr-3823	73	8	the	the	DET
fsr-3823	73	9	non	non	ADJ
fsr-3823	73	10	-	-	ADJ
fsr-3823	73	11	guaranteed	guaranteed	ADJ
fsr-3823	73	12	nature	nature	NOUN
fsr-3823	73	13	of	of	ADP
fsr-3823	73	14	certain	certain	ADJ
fsr-3823	73	15	elements	element	NOUN
fsr-3823	73	16	.	.	PUNCT
fsr-3823	74	1	values	value	NOUN
fsr-3823	74	2	are	be	AUX
fsr-3823	74	3	illustrated	illustrate	VERB
fsr-3823	74	4	using	use	VERB
fsr-3823	74	5	(	(	PUNCT
fsr-3823	74	6	1	1	NUM
fsr-3823	74	7	)	)	PUNCT
fsr-3823	74	8	the	the	DET
fsr-3823	74	9	insurer	insurer	NOUN
fsr-3823	74	10	’s	’s	PART
fsr-3823	74	11	illustrated	illustrate	VERB
fsr-3823	74	12	scale	scale	NOUN
fsr-3823	74	13	,	,	PUNCT
fsr-3823	74	14	(	(	PUNCT
fsr-3823	74	15	2	2	X
fsr-3823	74	16	)	)	PUNCT
fsr-3823	74	17	guarantees	guarantee	NOUN
fsr-3823	74	18	,	,	PUNCT
fsr-3823	74	19	and	and	CCONJ
fsr-3823	74	20	(	(	PUNCT
fsr-3823	74	21	3	3	X
fsr-3823	74	22	)	)	PUNCT
fsr-3823	74	23	at	at	ADP
fsr-3823	74	24	50	50	NUM
fsr-3823	74	25	percent	percent	NOUN
fsr-3823	74	26	of	of	ADP
fsr-3823	74	27	illustrated	illustrate	VERB
fsr-3823	74	28	dividends	dividend	NOUN
fsr-3823	74	29	or	or	CCONJ
fsr-3823	74	30	the	the	DET
fsr-3823	74	31	average	average	NOUN
fsr-3823	74	32	of	of	ADP
fsr-3823	74	33	guaranteed	guarantee	VERB
fsr-3823	74	34	and	and	CCONJ
fsr-3823	74	35	illustrated	illustrate	VERB
fsr-3823	74	36	rates	rate	NOUN
fsr-3823	74	37	.	.	PUNCT
fsr-3823	75	1	the	the	DET
fsr-3823	75	2	guidelines	guideline	NOUN
fsr-3823	75	3	developed	develop	VERB
fsr-3823	75	4	by	by	ADP
fsr-3823	75	5	the	the	DET
fsr-3823	75	6	actuarial	actuarial	ADJ
fsr-3823	75	7	standards	standard	NOUN
fsr-3823	75	8	board	board	NOUN
fsr-3823	75	9	essentially	essentially	ADV
fsr-3823	75	10	repeat	repeat	VERB
fsr-3823	75	11	the	the	DET
fsr-3823	75	12	def	def	ADJ
fsr-3823	75	13	initions	inition	NOUN
fsr-3823	75	14	quoted	quote	VERB
fsr-3823	75	15	above	above	ADV
fsr-3823	75	16	and	and	CCONJ
fsr-3823	75	17	add	add	VERB
fsr-3823	75	18	the	the	DET
fsr-3823	75	19	following	follow	VERB
fsr-3823	75	20	one	one	NUM
fsr-3823	75	21	:	:	PUNCT
fsr-3823	75	22	recent	recent	ADJ
fsr-3823	75	23	historical	historical	ADJ
fsr-3823	75	24	experience	experience	NOUN
fsr-3823	75	25	:	:	PUNCT
fsr-3823	75	26	mortality	mortality	NOUN
fsr-3823	75	27	,	,	PUNCT
fsr-3823	75	28	persistency	persistency	NOUN
fsr-3823	75	29	,	,	PUNCT
fsr-3823	75	30	interest	interest	NOUN
fsr-3823	75	31	,	,	PUNCT
fsr-3823	75	32	and	and	CCONJ
fsr-3823	75	33	expense	expense	NOUN
fsr-3823	75	34	experience	experience	NOUN
fsr-3823	75	35	on	on	ADP
fsr-3823	75	36	an	an	DET
fsr-3823	75	37	experience	experience	NOUN
fsr-3823	75	38	factor	factor	NOUN
fsr-3823	75	39	class	class	NOUN
fsr-3823	75	40	that	that	PRON
fsr-3823	75	41	is	be	AUX
fsr-3823	75	42	current	current	ADJ
fsr-3823	75	43	,	,	PUNCT
fsr-3823	75	44	determinable	determinable	ADJ
fsr-3823	75	45	,	,	PUNCT
fsr-3823	75	46	and	and	CCONJ
fsr-3823	75	47	credible	credible	ADJ
fsr-3823	75	48	(	(	PUNCT
fsr-3823	75	49	actuarial	actuarial	ADJ
fsr-3823	75	50	stan	stan	PROPN
fsr-3823	75	51	dards	dards	PROPN
fsr-3823	75	52	board	board	PROPN
fsr-3823	75	53	,	,	PUNCT
fsr-3823	75	54	1995	1995	NUM
fsr-3823	75	55	,	,	PUNCT
fsr-3823	75	56	p.	p.	NOUN
fsr-3823	75	57	2	2	NUM
fsr-3823	75	58	)	)	PUNCT
fsr-3823	75	59	.	.	PUNCT
fsr-3823	76	1	further	further	ADJ
fsr-3823	76	2	standards	standard	NOUN
fsr-3823	76	3	regarding	regard	VERB
fsr-3823	76	4	investment	investment	NOUN
fsr-3823	76	5	returns	return	NOUN
fsr-3823	76	6	specify	specify	VERB
fsr-3823	76	7	that	that	SCONJ
fsr-3823	76	8	recent	recent	ADJ
fsr-3823	76	9	historical	historical	ADJ
fsr-3823	76	10	experi	experi	PROPN
fsr-3823	76	11	ence	ence	NOUN
fsr-3823	76	12	refers	refer	VERB
fsr-3823	76	13	to	to	ADP
fsr-3823	76	14	rates	rate	NOUN
fsr-3823	76	15	being	be	AUX
fsr-3823	76	16	determined	determine	VERB
fsr-3823	76	17	“	"	PUNCT
fsr-3823	76	18	on	on	ADP
fsr-3823	76	19	an	an	DET
fsr-3823	76	20	entirely	entirely	ADV
fsr-3823	76	21	retrospective	retrospective	ADJ
fsr-3823	76	22	basis	basis	NOUN
fsr-3823	76	23	considering	consider	VERB
fsr-3823	76	24	only	only	ADV
fsr-3823	76	25	assets	asset	NOUN
fsr-3823	76	26	to	to	PART
fsr-3823	76	27	be	be	AUX
fsr-3823	76	28	supporting	support	VERB
fsr-3823	76	29	the	the	DET
fsr-3823	76	30	block	block	NOUN
fsr-3823	76	31	”	"	PUNCT
fsr-3823	76	32	(	(	PUNCT
fsr-3823	76	33	actuarial	actuarial	ADJ
fsr-3823	76	34	standards	standard	NOUN
fsr-3823	76	35	board	board	NOUN
fsr-3823	76	36	,	,	PUNCT
fsr-3823	76	37	1995	1995	NUM
fsr-3823	76	38	,	,	PUNCT
fsr-3823	76	39	p.	p.	NOUN
fsr-3823	76	40	7	7	NUM
fsr-3823	76	41	)	)	PUNCT
fsr-3823	76	42	.	.	PUNCT
fsr-3823	77	1	when	when	SCONJ
fsr-3823	77	2	an	an	DET
fsr-3823	77	3	insurer	insurer	NOUN
fsr-3823	77	4	has	have	VERB
fsr-3823	77	5	inadequate	inadequate	ADJ
fsr-3823	77	6	experience	experience	NOUN
fsr-3823	77	7	,	,	PUNCT
fsr-3823	77	8	it	it	PRON
fsr-3823	77	9	can	can	AUX
fsr-3823	77	10	use	use	VERB
fsr-3823	77	11	appropriate	appropriate	ADJ
fsr-3823	77	12	experience	experience	NOUN
fsr-3823	77	13	and	and	CCONJ
fsr-3823	77	14	trends	trend	NOUN
fsr-3823	77	15	from	from	ADP
fsr-3823	77	16	other	other	ADJ
fsr-3823	77	17	similar	similar	ADJ
fsr-3823	77	18	classes	class	NOUN
fsr-3823	77	19	of	of	ADP
fsr-3823	77	20	its	its	PRON
fsr-3823	77	21	business	business	NOUN
fsr-3823	77	22	,	,	PUNCT
fsr-3823	77	23	experience	experience	NOUN
fsr-3823	77	24	of	of	ADP
fsr-3823	77	25	another	another	DET
fsr-3823	77	26	company	company	NOUN
fsr-3823	77	27	,	,	PUNCT
fsr-3823	77	28	or	or	CCONJ
fsr-3823	77	29	experience	experience	NOUN
fsr-3823	77	30	from	from	ADP
fsr-3823	77	31	other	other	ADJ
fsr-3823	77	32	sources	source	NOUN
fsr-3823	77	33	,	,	PUNCT
fsr-3823	77	34	preferably	preferably	ADV
fsr-3823	77	35	in	in	ADP
fsr-3823	77	36	that	that	DET
fsr-3823	77	37	order	order	NOUN
fsr-3823	77	38	.	.	PUNCT
fsr-3823	78	1	(	(	PUNCT
fsr-3823	78	2	the	the	DET
fsr-3823	78	3	securities	securities	PROPN
fsr-3823	78	4	and	and	CCONJ
fsr-3823	78	5	exchange	exchange	PROPN
fsr-3823	78	6	commission	commission	PROPN
fsr-3823	78	7	recently	recently	ADV
fsr-3823	78	8	started	start	VERB
fsr-3823	78	9	allowing	allow	VERB
fsr-3823	78	10	mutual	mutual	ADJ
fsr-3823	78	11	funds	fund	NOUN
fsr-3823	78	12	to	to	PART
fsr-3823	78	13	show	show	VERB
fsr-3823	78	14	historical	historical	ADJ
fsr-3823	78	15	performance	performance	NOUN
fsr-3823	78	16	that	that	SCONJ
fsr-3823	78	17	pre	pre	VERB
fsr-3823	78	18	-	-	NOUN
fsr-3823	78	19	dates	date	VERB
fsr-3823	78	20	their	their	PRON
fsr-3823	78	21	formation	formation	NOUN
fsr-3823	78	22	as	as	ADP
fsr-3823	78	23	mutual	mutual	ADJ
fsr-3823	78	24	funds	fund	NOUN
fsr-3823	78	25	.	.	PUNCT
fsr-3823	79	1	funds	fund	NOUN
fsr-3823	79	2	are	be	AUX
fsr-3823	79	3	being	be	AUX
fsr-3823	79	4	allowed	allow	VERB
fsr-3823	79	5	to	to	PART
fsr-3823	79	6	publish	publish	VERB
fsr-3823	79	7	the	the	DET
fsr-3823	79	8	records	record	NOUN
fsr-3823	79	9	of	of	ADP
fsr-3823	79	10	older	old	ADJ
fsr-3823	79	11	“	"	PUNCT
fsr-3823	79	12	substantially	substantially	ADV
fsr-3823	79	13	similar	similar	ADJ
fsr-3823	79	14	”	"	PUNCT
fsr-3823	79	15	investment	investment	NOUN
fsr-3823	79	16	mechanisms	mechanism	NOUN
fsr-3823	79	17	(	(	PUNCT
fsr-3823	79	18	e.g.	e.g.	ADV
fsr-3823	79	19	,	,	PUNCT
fsr-3823	79	20	a	a	DET
fsr-3823	79	21	separate	separate	ADJ
fsr-3823	79	22	account	account	NOUN
fsr-3823	79	23	)	)	PUNCT
fsr-3823	79	24	that	that	SCONJ
fsr-3823	79	25	con	con	PROPN
fsr-3823	79	26	vert	vert	PROPN
fsr-3823	79	27	into	into	ADP
fsr-3823	79	28	mutual	mutual	ADJ
fsr-3823	79	29	funds	fund	NOUN
fsr-3823	79	30	(	(	PUNCT
fsr-3823	79	31	mcgough	mcgough	NOUN
fsr-3823	79	32	,	,	PUNCT
fsr-3823	79	33	1997	1997	NUM
fsr-3823	79	34	)	)	PUNCT
fsr-3823	79	35	.	.	PUNCT
fsr-3823	80	1	improving	improve	VERB
fsr-3823	80	2	trends	trend	NOUN
fsr-3823	80	3	in	in	ADP
fsr-3823	80	4	returns	return	NOUN
fsr-3823	80	5	can	can	AUX
fsr-3823	80	6	not	not	PART
fsr-3823	80	7	be	be	AUX
fsr-3823	80	8	pro	pro	ADV
fsr-3823	80	9	jected	jecte	VERB
fsr-3823	80	10	to	to	PART
fsr-3823	80	11	continue	continue	VERB
fsr-3823	80	12	improving	improve	VERB
fsr-3823	80	13	,	,	PUNCT
fsr-3823	80	14	however	however	ADV
fsr-3823	80	15	,	,	PUNCT
fsr-3823	80	16	significantly	significantly	ADV
fsr-3823	80	17	deteriorating	deteriorate	VERB
fsr-3823	80	18	trends	trend	NOUN
fsr-3823	80	19	or	or	CCONJ
fsr-3823	80	20	expected	expect	VERB
fsr-3823	80	21	deteriorating	deteriorate	VERB
fsr-3823	80	22	trends	trend	NOUN
fsr-3823	80	23	,	,	PUNCT
fsr-3823	80	24	”	"	PUNCT
fsr-3823	80	25	.	.	PUNCT
fsr-3823	81	1	..	..	PUNCT
fsr-3823	81	2	between	between	ADP
fsr-3823	81	3	the	the	DET
fsr-3823	81	4	date	date	NOUN
fsr-3823	81	5	of	of	ADP
fsr-3823	81	6	the	the	DET
fsr-3823	81	7	historical	historical	ADJ
fsr-3823	81	8	experience	experience	NOUN
fsr-3823	81	9	and	and	CCONJ
fsr-3823	81	10	the	the	DET
fsr-3823	81	11	effective	effective	ADJ
fsr-3823	81	12	date	date	NOUN
fsr-3823	81	13	of	of	ADP
fsr-3823	81	14	the	the	DET
fsr-3823	81	15	scale	scale	NOUN
fsr-3823	81	16	underlying	underlie	VERB
fsr-3823	81	17	the	the	DET
fsr-3823	81	18	illustration	illustration	NOUN
fsr-3823	81	19	..	..	PUNCT
fsr-3823	81	20	.	.	PUNCT
fsr-3823	81	21	,	,	PUNCT
fsr-3823	81	22	”	"	PUNCT
fsr-3823	81	23	should	should	AUX
fsr-3823	81	24	be	be	AUX
fsr-3823	81	25	recognized	recognize	VERB
fsr-3823	81	26	(	(	PUNCT
fsr-3823	81	27	actuarial	actuarial	ADJ
fsr-3823	81	28	stan	stan	PROPN
fsr-3823	81	29	dards	dards	PROPN
fsr-3823	81	30	board	board	PROPN
fsr-3823	81	31	,	,	PUNCT
fsr-3823	81	32	1995	1995	NUM
fsr-3823	81	33	,	,	PUNCT
fsr-3823	81	34	p.	p.	NOUN
fsr-3823	81	35	101	101	NUM
fsr-3823	81	36	)	)	PUNCT
fsr-3823	81	37	.	.	PUNCT
fsr-3823	82	1	the	the	DET
fsr-3823	82	2	assumed	assume	VERB
fsr-3823	82	3	investment	investment	NOUN
fsr-3823	82	4	rate	rate	NOUN
fsr-3823	82	5	is	be	AUX
fsr-3823	82	6	to	to	PART
fsr-3823	82	7	be	be	AUX
fsr-3823	82	8	fixed	fix	VERB
fsr-3823	82	9	for	for	ADP
fsr-3823	82	10	all	all	DET
fsr-3823	82	11	illus	illus	NOUN
fsr-3823	82	12	trated	trate	VERB
fsr-3823	82	13	durations	duration	NOUN
fsr-3823	82	14	.	.	PUNCT
fsr-3823	83	1	either	either	CCONJ
fsr-3823	83	2	the	the	DET
fsr-3823	83	3	portfolio	portfolio	NOUN
fsr-3823	83	4	average	average	ADJ
fsr-3823	83	5	approach	approach	NOUN
fsr-3823	83	6	or	or	CCONJ
fsr-3823	83	7	the	the	DET
fsr-3823	83	8	investment	investment	NOUN
fsr-3823	83	9	generation	generation	NOUN
fsr-3823	83	10	approach	approach	NOUN
fsr-3823	83	11	is	be	AUX
fsr-3823	83	12	acceptable	acceptable	ADJ
fsr-3823	83	13	.	.	PUNCT
fsr-3823	84	1	the	the	DET
fsr-3823	84	2	recognition	recognition	NOUN
fsr-3823	84	3	of	of	ADP
fsr-3823	84	4	realized	realize	VERB
fsr-3823	84	5	and	and	CCONJ
fsr-3823	84	6	unrealized	unrealized	ADJ
fsr-3823	84	7	capital	capital	NOUN
fsr-3823	84	8	gains	gain	NOUN
fsr-3823	84	9	are	be	AUX
fsr-3823	84	10	not	not	PART
fsr-3823	84	11	historical	historical	ADJ
fsr-3823	84	12	investment	investment	NOUN
fsr-3823	84	13	performance	performance	NOUN
fsr-3823	84	14	159	159	NUM
fsr-3823	84	15	2.0	2.0	NUM
fsr-3823	84	16	%	%	NOUN
fsr-3823	84	17	i	i	PRON
fsr-3823	84	18	,	,	PUNCT
fsr-3823	84	19	,	,	PUNCT
fsr-3823	84	20	,	,	PUNCT
fsr-3823	84	21	i	i	PRON
fsr-3823	84	22	,	,	PUNCT
fsr-3823	84	23	194	194	NUM
fsr-3823	84	24	;	;	PUNCT
fsr-3823	84	25	i9ii	i9ii	SYM
fsr-3823	84	26	i9’631	i9’631	PROPN
fsr-3823	85	1	i	i	PRON
fsr-3823	85	2	i966	i966	X
fsr-3823	85	3	’	'	PUNCT
fsr-3823	85	4	is	be	AUX
fsr-3823	85	5	&	&	CCONJ
fsr-3823	85	6	i	i	PROPN
fsr-3823	85	7	/	/	SYM
fsr-3823	85	8	1957	1957	NUM
fsr-3823	85	9	1981	1981	NUM
fsr-3823	85	10	&	&	CCONJ
fsr-3823	85	11	:	:	PUNCT
fsr-3823	85	12	i	i	PRON
fsr-3823	85	13	1	1	NUM
fsr-3823	85	14	/	/	SYM
fsr-3823	86	1	i	i	PRON
fsr-3823	86	2	i	i	PRON
fsr-3823	86	3	/	/	SYM
fsr-3823	86	4	/	/	SYM
fsr-3823	86	5	/	/	SYM
fsr-3823	86	6	/	/	SYM
fsr-3823	86	7	i.	i.	NOUN
fsr-3823	86	8	1993	1993	NUM
fsr-3823	86	9	1999	1999	NUM
fsr-3823	86	10	years	year	NOUN
fsr-3823	86	11	s0ukty	s0ukty	VERB
fsr-3823	86	12	various	various	ADJ
fsr-3823	86	13	issues	issue	NOUN
fsr-3823	86	14	of	of	ADP
fsr-3823	86	15	the	the	DET
fsr-3823	86	16	life	life	NOUN
fsr-3823	86	17	insurance	insurance	NOUN
fsr-3823	86	18	fact	fact	NOUN
fsr-3823	86	19	book	book	NOUN
fsr-3823	86	20	.	.	PUNCT
fsr-3823	87	1	figure	figure	NOUN
fsr-3823	87	2	1	1	NUM
fsr-3823	87	3	.	.	PUNCT
fsr-3823	87	4	before	before	ADP
fsr-3823	87	5	-	-	PUNCT
fsr-3823	87	6	tax	tax	NOUN
fsr-3823	87	7	rate	rate	NOUN
fsr-3823	87	8	of	of	ADP
fsr-3823	87	9	investment	investment	NOUN
fsr-3823	87	10	income	income	NOUN
fsr-3823	87	11	for	for	ADP
fsr-3823	87	12	u.s	u.s	PROPN
fsr-3823	87	13	.	.	PROPN
fsr-3823	87	14	life	life	NOUN
fsr-3823	87	15	insurers	insurer	NOUN
fsr-3823	87	16	:	:	PUNCT
fsr-3823	87	17	1945	1945	NUM
fsr-3823	87	18	-	-	SYM
fsr-3823	87	19	1994	1994	NUM
fsr-3823	87	20	i	i	PRON
fsr-3823	87	21	bs	bs	PROPN
fsr-3823	87	22	constrained	constrain	VERB
fsr-3823	87	23	other	other	ADJ
fsr-3823	87	24	than	than	ADP
fsr-3823	87	25	by	by	ADP
fsr-3823	87	26	needing	need	VERB
fsr-3823	87	27	to	to	PART
fsr-3823	87	28	be	be	AUX
fsr-3823	87	29	consistent	consistent	ADJ
fsr-3823	87	30	with	with	ADP
fsr-3823	87	31	the	the	DET
fsr-3823	87	32	practice	practice	NOUN
fsr-3823	87	33	of	of	ADP
fsr-3823	87	34	each	each	DET
fsr-3823	87	35	insurer	insurer	NOUN
fsr-3823	87	36	(	(	PUNCT
fsr-3823	87	37	actuarial	actuarial	ADJ
fsr-3823	87	38	standards	standard	NOUN
fsr-3823	87	39	board	board	NOUN
fsr-3823	87	40	,	,	PUNCT
fsr-3823	87	41	1995	1995	NUM
fsr-3823	87	42	,	,	PUNCT
fsr-3823	87	43	pp	pp	ADJ
fsr-3823	87	44	.	.	PUNCT
fsr-3823	88	1	7	7	NUM
fsr-3823	88	2	-	-	SYM
fsr-3823	88	3	10	10	NUM
fsr-3823	88	4	)	)	PUNCT
fsr-3823	88	5	.	.	PUNCT
fsr-3823	89	1	while	while	SCONJ
fsr-3823	89	2	the	the	DET
fsr-3823	89	3	model	model	NOUN
fsr-3823	89	4	illustration	illustration	NOUN
fsr-3823	89	5	bill	bill	NOUN
fsr-3823	89	6	and	and	CCONJ
fsr-3823	89	7	accompanying	accompany	VERB
fsr-3823	89	8	actuarial	actuarial	ADJ
fsr-3823	89	9	standards	standard	NOUN
fsr-3823	89	10	vastly	vastly	ADV
fsr-3823	89	11	improve	improve	VERB
fsr-3823	89	12	overall	overall	ADJ
fsr-3823	89	13	illustration	illustration	NOUN
fsr-3823	89	14	practices	practice	NOUN
fsr-3823	89	15	,	,	PUNCT
fsr-3823	89	16	the	the	DET
fsr-3823	89	17	author	author	NOUN
fsr-3823	89	18	is	be	AUX
fsr-3823	89	19	of	of	ADP
fsr-3823	89	20	the	the	DET
fsr-3823	89	21	opinion	opinion	NOUN
fsr-3823	89	22	that	that	SCONJ
fsr-3823	89	23	regulations	regulation	NOUN
fsr-3823	89	24	still	still	ADV
fsr-3823	89	25	allow	allow	VERB
fsr-3823	89	26	placing	place	VERB
fsr-3823	89	27	too	too	ADV
fsr-3823	89	28	much	much	ADJ
fsr-3823	89	29	emphasis	emphasis	NOUN
fsr-3823	89	30	on	on	ADP
fsr-3823	89	31	the	the	DET
fsr-3823	89	32	extrapolation	extrapolation	NOUN
fsr-3823	89	33	of	of	ADP
fsr-3823	89	34	current	current	ADJ
fsr-3823	89	35	investment	investment	NOUN
fsr-3823	89	36	performance	performance	NOUN
fsr-3823	89	37	as	as	SCONJ
fsr-3823	89	38	produced	produce	VERB
fsr-3823	89	39	by	by	ADP
fsr-3823	89	40	recent	recent	ADJ
fsr-3823	89	41	trends	trend	NOUN
fsr-3823	89	42	,	,	PUNCT
fsr-3823	89	43	whether	whether	SCONJ
fsr-3823	89	44	up	up	ADV
fsr-3823	89	45	,	,	PUNCT
fsr-3823	89	46	down	down	ADV
fsr-3823	89	47	,	,	PUNCT
fsr-3823	89	48	or	or	CCONJ
fsr-3823	89	49	level	level	NOUN
fsr-3823	89	50	.	.	PUNCT
fsr-3823	90	1	allegedly	allegedly	ADV
fsr-3823	90	2	,	,	PUNCT
fsr-3823	90	3	the	the	DET
fsr-3823	90	4	recent	recent	ADJ
fsr-3823	90	5	experience	experience	NOUN
fsr-3823	90	6	requirement	requirement	NOUN
fsr-3823	90	7	may	may	AUX
fsr-3823	90	8	only	only	ADV
fsr-3823	90	9	result	result	VERB
fsr-3823	90	10	in	in	ADP
fsr-3823	90	11	looking	look	VERB
fsr-3823	90	12	at	at	ADP
fsr-3823	90	13	approximately	approximately	ADV
fsr-3823	90	14	two	two	NUM
fsr-3823	90	15	years	year	NOUN
fsr-3823	90	16	of	of	ADP
fsr-3823	90	17	past	past	ADJ
fsr-3823	90	18	experience	experience	NOUN
fsr-3823	90	19	.	.	PUNCT
fsr-3823	91	1	if	if	SCONJ
fsr-3823	91	2	this	this	DET
fsr-3823	91	3	material	material	NOUN
fsr-3823	91	4	izes	ize	NOUN
fsr-3823	91	5	,	,	PUNCT
fsr-3823	91	6	insurer	insurer	NOUN
fsr-3823	91	7	practice	practice	NOUN
fsr-3823	91	8	will	will	AUX
fsr-3823	91	9	continue	continue	VERB
fsr-3823	91	10	to	to	PART
fsr-3823	91	11	be	be	AUX
fsr-3823	91	12	in	in	ADP
fsr-3823	91	13	sharp	sharp	ADJ
fsr-3823	91	14	contrast	contrast	NOUN
fsr-3823	91	15	to	to	ADP
fsr-3823	91	16	practices	practice	NOUN
fsr-3823	91	17	in	in	ADP
fsr-3823	91	18	the	the	DET
fsr-3823	91	19	u.s	u.s	PROPN
fsr-3823	91	20	.	.	PROPN
fsr-3823	91	21	securities	security	NOUN
fsr-3823	91	22	industry	industry	NOUN
fsr-3823	91	23	that	that	PRON
fsr-3823	91	24	relies	rely	VERB
fsr-3823	91	25	primarily	primarily	ADV
fsr-3823	91	26	on	on	ADP
fsr-3823	91	27	the	the	DET
fsr-3823	91	28	disclosure	disclosure	NOUN
fsr-3823	91	29	of	of	ADP
fsr-3823	91	30	historical	historical	ADJ
fsr-3823	91	31	performance	performance	NOUN
fsr-3823	91	32	over	over	ADP
fsr-3823	91	33	various	various	ADJ
fsr-3823	91	34	peri	peri	ADJ
fsr-3823	91	35	ods	od	NOUN
fsr-3823	91	36	of	of	ADP
fsr-3823	91	37	time	time	NOUN
fsr-3823	91	38	.	.	PUNCT
fsr-3823	92	1	any	any	DET
fsr-3823	92	2	prospective	prospective	ADJ
fsr-3823	92	3	illustrations	illustration	NOUN
fsr-3823	92	4	of	of	ADP
fsr-3823	92	5	securities	security	NOUN
fsr-3823	92	6	use	use	VERB
fsr-3823	92	7	the	the	DET
fsr-3823	92	8	same	same	ADJ
fsr-3823	92	9	investment	investment	NOUN
fsr-3823	92	10	assump	assump	NOUN
fsr-3823	92	11	tions	tion	NOUN
fsr-3823	92	12	for	for	ADP
fsr-3823	92	13	competing	compete	VERB
fsr-3823	92	14	instruments	instrument	NOUN
fsr-3823	92	15	.	.	PUNCT
fsr-3823	93	1	the	the	DET
fsr-3823	93	2	absurdity	absurdity	NOUN
fsr-3823	93	3	of	of	ADP
fsr-3823	93	4	creating	create	VERB
fsr-3823	93	5	a	a	DET
fsr-3823	93	6	current	current	ADJ
fsr-3823	93	7	investment	investment	NOUN
fsr-3823	93	8	assumption	assumption	NOUN
fsr-3823	93	9	by	by	ADP
fsr-3823	93	10	only	only	ADV
fsr-3823	93	11	looking	look	VERB
fsr-3823	93	12	back	back	ADV
fsr-3823	93	13	approximately	approximately	ADV
fsr-3823	93	14	two	two	NUM
fsr-3823	93	15	years	year	NOUN
fsr-3823	93	16	when	when	SCONJ
fsr-3823	93	17	returns	return	NOUN
fsr-3823	93	18	seem	seem	VERB
fsr-3823	93	19	high	high	ADJ
fsr-3823	93	20	,	,	PUNCT
fsr-3823	93	21	and	and	CCONJ
fsr-3823	93	22	then	then	ADV
fsr-3823	93	23	projecting	project	VERB
fsr-3823	93	24	this	this	DET
fsr-3823	93	25	assumption	assumption	NOUN
fsr-3823	93	26	into	into	ADP
fsr-3823	93	27	the	the	DET
fsr-3823	93	28	future	future	NOUN
fsr-3823	93	29	for	for	ADP
fsr-3823	93	30	all	all	DET
fsr-3823	93	31	illustrated	illustrated	ADJ
fsr-3823	93	32	durations	duration	NOUN
fsr-3823	93	33	is	be	AUX
fsr-3823	93	34	illustrated	illustrate	VERB
fsr-3823	93	35	in	in	ADP
fsr-3823	93	36	figure	figure	NOUN
fsr-3823	93	37	1	1	NUM
fsr-3823	93	38	.	.	PUNCT
fsr-3823	94	1	the	the	DET
fsr-3823	94	2	rates	rate	NOUN
fsr-3823	94	3	of	of	ADP
fsr-3823	94	4	return	return	NOUN
fsr-3823	94	5	plotted	plot	VERB
fsr-3823	94	6	there	there	PRON
fsr-3823	94	7	use	use	VERB
fsr-3823	94	8	aggregates	aggregate	NOUN
fsr-3823	94	9	for	for	ADP
fsr-3823	94	10	the	the	DET
fsr-3823	94	11	universe	universe	NOUN
fsr-3823	94	12	of	of	ADP
fsr-3823	94	13	u.s	u.s	PROPN
fsr-3823	94	14	.	.	PROPN
fsr-3823	94	15	life	life	NOUN
fsr-3823	94	16	insurer	insurer	NOUN
fsr-3823	94	17	general	general	ADJ
fsr-3823	94	18	accounts	account	NOUN
fsr-3823	94	19	as	as	SCONJ
fsr-3823	94	20	reported	report	VERB
fsr-3823	94	21	by	by	ADP
fsr-3823	94	22	the	the	DET
fsr-3823	94	23	american	american	PROPN
fsr-3823	94	24	council	council	PROPN
fsr-3823	94	25	of	of	ADP
fsr-3823	94	26	life	life	PROPN
fsr-3823	94	27	insurance	insurance	NOUN
fsr-3823	94	28	(	(	PUNCT
fsr-3823	94	29	acli	acli	ADJ
fsr-3823	94	30	)	)	PUNCT
fsr-3823	94	31	.	.	PUNCT
fsr-3823	95	1	had	have	VERB
fsr-3823	95	2	the	the	DET
fsr-3823	95	3	figure	figure	NOUN
fsr-3823	95	4	gone	go	VERB
fsr-3823	95	5	back	back	ADV
fsr-3823	95	6	farther	far	ADV
fsr-3823	95	7	in	in	ADP
fsr-3823	95	8	time	time	NOUN
fsr-3823	95	9	,	,	PUNCT
fsr-3823	95	10	the	the	DET
fsr-3823	95	11	return	return	NOUN
fsr-3823	95	12	for	for	ADP
fsr-3823	95	13	1930	1930	NUM
fsr-3823	95	14	would	would	AUX
fsr-3823	95	15	have	have	AUX
fsr-3823	95	16	been	be	AUX
fsr-3823	95	17	5.05	5.05	NUM
fsr-3823	95	18	percent	percent	NOUN
fsr-3823	95	19	with	with	ADP
fsr-3823	95	20	a	a	DET
fsr-3823	95	21	decreasing	decrease	VERB
fsr-3823	95	22	trend	trend	NOUN
fsr-3823	95	23	between	between	ADP
fsr-3823	95	24	than	than	ADP
fsr-3823	95	25	and	and	CCONJ
fsr-3823	95	26	the	the	DET
fsr-3823	95	27	low	low	NOUN
fsr-3823	95	28	of	of	ADP
fsr-3823	95	29	2.88	2.88	NUM
fsr-3823	95	30	percent	percent	NOUN
fsr-3823	95	31	shown	show	VERB
fsr-3823	95	32	for	for	ADP
fsr-3823	95	33	1947	1947	NUM
fsr-3823	95	34	(	(	PUNCT
fsr-3823	95	35	acli	acli	ADJ
fsr-3823	95	36	,	,	PUNCT
fsr-3823	95	37	1994	1994	NUM
fsr-3823	95	38	,	,	PUNCT
fsr-3823	95	39	p.	p.	NOUN
fsr-3823	95	40	74	74	NUM
fsr-3823	95	41	)	)	PUNCT
fsr-3823	95	42	.	.	PUNCT
fsr-3823	96	1	in	in	ADP
fsr-3823	96	2	the	the	DET
fsr-3823	96	3	fig	fig	NOUN
fsr-3823	96	4	ure	ure	NOUN
fsr-3823	96	5	,	,	PUNCT
fsr-3823	96	6	rates	rate	NOUN
fsr-3823	96	7	of	of	ADP
fsr-3823	96	8	9.65	9.65	NUM
fsr-3823	96	9	percent	percent	NOUN
fsr-3823	96	10	and	and	CCONJ
fsr-3823	96	11	9.87	9.87	NUM
fsr-3823	96	12	percent	percent	NOUN
fsr-3823	96	13	for	for	ADP
fsr-3823	96	14	1984	1984	NUM
fsr-3823	96	15	and	and	CCONJ
fsr-3823	96	16	1985	1985	NUM
fsr-3823	96	17	,	,	PUNCT
fsr-3823	96	18	respectively	respectively	ADV
fsr-3823	96	19	,	,	PUNCT
fsr-3823	96	20	form	form	VERB
fsr-3823	96	21	the	the	DET
fsr-3823	96	22	basis	basis	NOUN
fsr-3823	96	23	of	of	ADP
fsr-3823	96	24	a	a	DET
fsr-3823	96	25	“	"	PUNCT
fsr-3823	96	26	current	current	ADJ
fsr-3823	96	27	”	"	PUNCT
fsr-3823	96	28	hypothetical	hypothetical	ADJ
fsr-3823	96	29	early	early	ADJ
fsr-3823	96	30	1986	1986	NUM
fsr-3823	96	31	projection	projection	NOUN
fsr-3823	96	32	(	(	PUNCT
fsr-3823	96	33	i.e.	i.e.	X
fsr-3823	96	34	,	,	PUNCT
fsr-3823	96	35	based	base	VERB
fsr-3823	96	36	on	on	ADP
fsr-3823	96	37	portfolio	portfolio	NOUN
fsr-3823	96	38	average	average	ADJ
fsr-3823	96	39	rates	rate	NOUN
fsr-3823	96	40	for	for	ADP
fsr-3823	96	41	the	the	DET
fsr-3823	96	42	industry	industry	NOUN
fsr-3823	96	43	.	.	PUNCT
fsr-3823	96	44	)	)	PUNCT
fsr-3823	97	1	the	the	DET
fsr-3823	97	2	dashed	dash	VERB
fsr-3823	97	3	line	line	NOUN
fsr-3823	97	4	representing	represent	VERB
fsr-3823	97	5	current	current	ADJ
fsr-3823	97	6	returns	return	NOUN
fsr-3823	97	7	is	be	AUX
fsr-3823	97	8	obviously	obviously	ADV
fsr-3823	97	9	well	well	ADV
fsr-3823	97	10	above	above	ADP
fsr-3823	97	11	subse	subse	NOUN
fsr-3823	97	12	quent	quent	NOUN
fsr-3823	97	13	industry	industry	NOUN
fsr-3823	97	14	performance	performance	NOUN
fsr-3823	97	15	to	to	ADP
fsr-3823	97	16	date	date	NOUN
fsr-3823	97	17	.	.	PUNCT
fsr-3823	98	1	the	the	DET
fsr-3823	98	2	use	use	NOUN
fsr-3823	98	3	of	of	ADP
fsr-3823	98	4	investment	investment	NOUN
fsr-3823	98	5	generation	generation	NOUN
fsr-3823	98	6	rates	rate	NOUN
fsr-3823	98	7	for	for	ADP
fsr-3823	98	8	1984	1984	NUM
fsr-3823	98	9	and	and	CCONJ
fsr-3823	98	10	1985	1985	NUM
fsr-3823	98	11	would	would	AUX
fsr-3823	98	12	have	have	AUX
fsr-3823	98	13	produced	produce	VERB
fsr-3823	98	14	projections	projection	NOUN
fsr-3823	98	15	that	that	PRON
fsr-3823	98	16	were	be	AUX
fsr-3823	98	17	even	even	ADV
fsr-3823	98	18	more	more	ADV
fsr-3823	98	19	inconsistent	inconsistent	ADJ
fsr-3823	98	20	with	with	ADP
fsr-3823	98	21	long	long	ADV
fsr-3823	98	22	-	-	PUNCT
fsr-3823	98	23	run	run	VERB
fsr-3823	98	24	historical	historical	ADJ
fsr-3823	98	25	experience	experience	NOUN
fsr-3823	98	26	.	.	PUNCT
fsr-3823	99	1	160	160	NUM
fsr-3823	99	2	financial	financial	ADJ
fsr-3823	99	3	services	service	NOUN
fsr-3823	99	4	review	review	VERB
fsr-3823	99	5	6(3	6(3	NUM
fsr-3823	99	6	)	)	PUNCT
fsr-3823	99	7	1998	1998	NUM
fsr-3823	99	8	iii	iii	NOUN
fsr-3823	99	9	.	.	PUNCT
fsr-3823	100	1	research	research	NOUN
fsr-3823	100	2	methods	method	NOUN
fsr-3823	100	3	returns	return	NOUN
fsr-3823	100	4	are	be	AUX
fsr-3823	100	5	forecasted	forecast	VERB
fsr-3823	100	6	for	for	ADP
fsr-3823	100	7	a	a	DET
fsr-3823	100	8	hypothetical	hypothetical	ADJ
fsr-3823	100	9	general	general	ADJ
fsr-3823	100	10	account	account	NOUN
fsr-3823	100	11	that	that	PRON
fsr-3823	100	12	uses	use	VERB
fsr-3823	100	13	an	an	DET
fsr-3823	100	14	average	average	ADJ
fsr-3823	100	15	portfo	portfo	ADJ
fsr-3823	100	16	lio	lio	NOUN
fsr-3823	100	17	rate	rate	NOUN
fsr-3823	100	18	of	of	ADP
fsr-3823	100	19	total	total	ADJ
fsr-3823	100	20	returns	return	NOUN
fsr-3823	100	21	for	for	ADP
fsr-3823	100	22	dividend	dividend	NOUN
fsr-3823	100	23	allocations	allocation	NOUN
fsr-3823	100	24	and	and	CCONJ
fsr-3823	100	25	other	other	ADJ
fsr-3823	100	26	crediting	crediting	NOUN
fsr-3823	100	27	(	(	PUNCT
fsr-3823	100	28	e.g.	e.g.	ADV
fsr-3823	100	29	,	,	PUNCT
fsr-3823	100	30	for	for	ADP
fsr-3823	100	31	a	a	DET
fsr-3823	100	32	universal	universal	ADJ
fsr-3823	100	33	life	life	NOUN
fsr-3823	100	34	contract	contract	NOUN
fsr-3823	100	35	)	)	PUNCT
fsr-3823	100	36	in	in	ADP
fsr-3823	100	37	projections	projection	NOUN
fsr-3823	100	38	.	.	PUNCT
fsr-3823	101	1	the	the	DET
fsr-3823	101	2	simulation	simulation	NOUN
fsr-3823	101	3	employs	employ	VERB
fsr-3823	101	4	current	current	ADJ
fsr-3823	101	5	market	market	NOUN
fsr-3823	101	6	data	datum	NOUN
fsr-3823	101	7	in	in	ADP
fsr-3823	101	8	addition	addition	NOUN
fsr-3823	101	9	to	to	ADP
fsr-3823	101	10	histor	histor	PROPN
fsr-3823	101	11	ical	ical	ADJ
fsr-3823	101	12	performance	performance	NOUN
fsr-3823	101	13	for	for	ADP
fsr-3823	101	14	specific	specific	ADJ
fsr-3823	101	15	asset	asset	NOUN
fsr-3823	101	16	classes	class	NOUN
fsr-3823	101	17	.	.	PUNCT
fsr-3823	102	1	total	total	ADJ
fsr-3823	102	2	returns	return	NOUN
fsr-3823	102	3	include	include	VERB
fsr-3823	102	4	all	all	DET
fsr-3823	102	5	capital	capital	NOUN
fsr-3823	102	6	gains	gain	NOUN
fsr-3823	102	7	and	and	CCONJ
fsr-3823	102	8	losses	loss	NOUN
fsr-3823	102	9	,	,	PUNCT
fsr-3823	102	10	and	and	CCONJ
fsr-3823	102	11	,	,	PUNCT
fsr-3823	102	12	therefore	therefore	ADV
fsr-3823	102	13	,	,	PUNCT
fsr-3823	102	14	increase	increase	VERB
fsr-3823	102	15	the	the	DET
fsr-3823	102	16	variability	variability	NOUN
fsr-3823	102	17	associated	associate	VERB
fsr-3823	102	18	with	with	ADP
fsr-3823	102	19	the	the	DET
fsr-3823	102	20	hypothetical	hypothetical	ADJ
fsr-3823	102	21	general	general	PROPN
fsr-3823	102	22	account	account	NOUN
fsr-3823	102	23	forecast	forecast	NOUN
fsr-3823	102	24	,	,	PUNCT
fsr-3823	102	25	relative	relative	ADJ
fsr-3823	102	26	to	to	ADP
fsr-3823	102	27	the	the	DET
fsr-3823	102	28	net	net	ADJ
fsr-3823	102	29	income	income	NOUN
fsr-3823	102	30	returns	return	NOUN
fsr-3823	102	31	used	use	VERB
fsr-3823	102	32	in	in	ADP
fsr-3823	102	33	practice	practice	NOUN
fsr-3823	102	34	by	by	ADP
fsr-3823	102	35	most	most	ADJ
fsr-3823	102	36	insurers	insurer	NOUN
fsr-3823	102	37	.	.	PUNCT
fsr-3823	103	1	(	(	PUNCT
fsr-3823	103	2	a	a	DET
fsr-3823	103	3	group	group	NOUN
fsr-3823	103	4	of	of	ADP
fsr-3823	103	5	u.s	u.s	PROPN
fsr-3823	103	6	.	.	PROPN
fsr-3823	103	7	life	life	NOUN
fsr-3823	103	8	insurers	insurer	NOUN
fsr-3823	103	9	is	be	AUX
fsr-3823	103	10	experimenting	experiment	VERB
fsr-3823	103	11	with	with	ADP
fsr-3823	103	12	total	total	ADJ
fsr-3823	103	13	returns	return	NOUN
fsr-3823	103	14	as	as	ADP
fsr-3823	103	15	the	the	DET
fsr-3823	103	16	prime	prime	ADJ
fsr-3823	103	17	measure	measure	NOUN
fsr-3823	103	18	of	of	ADP
fsr-3823	103	19	investment	investment	NOUN
fsr-3823	103	20	performance	performance	NOUN
fsr-3823	103	21	for	for	ADP
fsr-3823	103	22	general	general	ADJ
fsr-3823	103	23	accounts	account	NOUN
fsr-3823	103	24	,	,	PUNCT
fsr-3823	103	25	viewing	view	VERB
fsr-3823	103	26	this	this	PRON
fsr-3823	103	27	as	as	ADP
fsr-3823	103	28	a	a	DET
fsr-3823	103	29	potentially	potentially	ADV
fsr-3823	103	30	better	well	ADJ
fsr-3823	103	31	measure	measure	NOUN
fsr-3823	103	32	of	of	ADP
fsr-3823	103	33	economic	economic	ADJ
fsr-3823	103	34	performance	performance	NOUN
fsr-3823	103	35	than	than	ADP
fsr-3823	103	36	the	the	DET
fsr-3823	103	37	current	current	ADJ
fsr-3823	103	38	net	net	ADJ
fsr-3823	103	39	income	income	NOUN
fsr-3823	103	40	approach	approach	NOUN
fsr-3823	103	41	(	(	PUNCT
fsr-3823	103	42	burgess	burgess	NOUN
fsr-3823	103	43	,	,	PUNCT
fsr-3823	103	44	et	et	PROPN
fsr-3823	103	45	.	.	PUNCT
fsr-3823	104	1	al	al	PROPN
fsr-3823	104	2	.	.	PROPN
fsr-3823	104	3	,	,	PUNCT
fsr-3823	104	4	1994	1994	NUM
fsr-3823	104	5	)	)	PUNCT
fsr-3823	104	6	.	.	PUNCT
fsr-3823	105	1	the	the	DET
fsr-3823	105	2	simulations	simulation	NOUN
fsr-3823	105	3	apply	apply	VERB
fsr-3823	105	4	the	the	DET
fsr-3823	105	5	arithmetic	arithmetic	ADJ
fsr-3823	105	6	mean	mean	NOUN
fsr-3823	105	7	and	and	CCONJ
fsr-3823	105	8	standard	standard	ADJ
fsr-3823	105	9	deviation	deviation	NOUN
fsr-3823	105	10	of	of	ADP
fsr-3823	105	11	the	the	DET
fsr-3823	105	12	annual	annual	ADJ
fsr-3823	105	13	data	datum	NOUN
fsr-3823	105	14	to	to	PART
fsr-3823	105	15	project	project	VERB
fsr-3823	105	16	expected	expect	VERB
fsr-3823	105	17	compound	compound	ADJ
fsr-3823	105	18	annual	annual	ADJ
fsr-3823	105	19	returns	return	NOUN
fsr-3823	105	20	over	over	ADP
fsr-3823	105	21	a	a	DET
fsr-3823	105	22	50	50	NUM
fsr-3823	105	23	-	-	PUNCT
fsr-3823	105	24	year	year	NOUN
fsr-3823	105	25	time	time	NOUN
fsr-3823	105	26	horizon	horizon	NOUN
fsr-3823	105	27	(	(	PUNCT
fsr-3823	105	28	i.e.	i.e.	X
fsr-3823	105	29	,	,	PUNCT
fsr-3823	105	30	an	an	DET
fsr-3823	105	31	assumed	assume	VERB
fsr-3823	105	32	insurance	insurance	NOUN
fsr-3823	105	33	policy	policy	NOUN
fsr-3823	105	34	holding	holding	NOUN
fsr-3823	105	35	period	period	NOUN
fsr-3823	105	36	)	)	PUNCT
fsr-3823	105	37	,	,	PUNCT
fsr-3823	105	38	using	use	VERB
fsr-3823	105	39	a	a	DET
fsr-3823	105	40	lognormal	lognormal	ADJ
fsr-3823	105	41	distribution	distribution	NOUN
fsr-3823	105	42	.	.	PUNCT
fsr-3823	106	1	the	the	DET
fsr-3823	106	2	lognormal	lognormal	ADJ
fsr-3823	106	3	distribu	distribu	NOUN
fsr-3823	106	4	tion	tion	NOUN
fsr-3823	106	5	has	have	VERB
fsr-3823	106	6	a	a	DET
fsr-3823	106	7	random	random	ADJ
fsr-3823	106	8	variable	variable	NOUN
fsr-3823	106	9	whose	whose	DET
fsr-3823	106	10	logarithm	logarithm	NOUN
fsr-3823	106	11	is	be	AUX
fsr-3823	106	12	normally	normally	ADV
fsr-3823	106	13	distributed	distribute	VERB
fsr-3823	106	14	.	.	PUNCT
fsr-3823	107	1	its	its	PRON
fsr-3823	107	2	use	use	NOUN
fsr-3823	107	3	is	be	AUX
fsr-3823	107	4	consistent	consistent	ADJ
fsr-3823	107	5	with	with	ADP
fsr-3823	107	6	the	the	DET
fsr-3823	107	7	positive	positive	ADJ
fsr-3823	107	8	distribution	distribution	NOUN
fsr-3823	107	9	of	of	ADP
fsr-3823	107	10	historical	historical	ADJ
fsr-3823	107	11	market	market	NOUN
fsr-3823	107	12	returns	return	NOUN
fsr-3823	107	13	for	for	ADP
fsr-3823	107	14	most	most	ADJ
fsr-3823	107	15	assets	asset	NOUN
fsr-3823	107	16	and	and	CCONJ
fsr-3823	107	17	the	the	DET
fsr-3823	107	18	inability	inability	NOUN
fsr-3823	107	19	of	of	ADP
fsr-3823	107	20	an	an	DET
fsr-3823	107	21	insurer	insurer	NOUN
fsr-3823	107	22	to	to	PART
fsr-3823	107	23	lose	lose	VERB
fsr-3823	107	24	more	more	ADJ
fsr-3823	107	25	than	than	ADP
fsr-3823	107	26	its	its	PRON
fsr-3823	107	27	investment	investment	NOUN
fsr-3823	107	28	(	(	PUNCT
fsr-3823	107	29	i.e.	i.e.	X
fsr-3823	107	30	,	,	PUNCT
fsr-3823	107	31	returns	return	NOUN
fsr-3823	107	32	can	can	AUX
fsr-3823	107	33	not	not	PART
fsr-3823	107	34	fall	fall	VERB
fsr-3823	107	35	below	below	ADP
fsr-3823	107	36	negative	negative	ADJ
fsr-3823	107	37	100	100	NUM
fsr-3823	107	38	percent	percent	NOUN
fsr-3823	107	39	)	)	PUNCT
fsr-3823	107	40	.	.	PUNCT
fsr-3823	108	1	because	because	SCONJ
fsr-3823	108	2	the	the	DET
fsr-3823	108	3	distribution	distribution	NOUN
fsr-3823	108	4	is	be	AUX
fsr-3823	108	5	specified	specify	VERB
fsr-3823	108	6	by	by	ADP
fsr-3823	108	7	the	the	DET
fsr-3823	108	8	historical	historical	ADJ
fsr-3823	108	9	mean	mean	NOUN
fsr-3823	108	10	and	and	CCONJ
fsr-3823	108	11	standard	standard	ADJ
fsr-3823	108	12	devia	devia	PROPN
fsr-3823	108	13	tion	tion	PROPN
fsr-3823	108	14	the	the	DET
fsr-3823	108	15	necessary	necessary	ADJ
fsr-3823	108	16	parameters	parameter	NOUN
fsr-3823	108	17	are	be	AUX
fsr-3823	108	18	practically	practically	ADV
fsr-3823	108	19	available	available	ADJ
fsr-3823	108	20	.	.	PUNCT
fsr-3823	109	1	the	the	DET
fsr-3823	109	2	theoretical	theoretical	ADJ
fsr-3823	109	3	distribution	distribution	NOUN
fsr-3823	109	4	is	be	AUX
fsr-3823	109	5	pos	pos	NOUN
fsr-3823	109	6	itively	itively	ADV
fsr-3823	109	7	skewed	skew	VERB
fsr-3823	109	8	,	,	PUNCT
fsr-3823	109	9	and	and	CCONJ
fsr-3823	109	10	skewness	skewness	NOUN
fsr-3823	109	11	increases	increase	NOUN
fsr-3823	109	12	as	as	ADP
fsr-3823	109	13	variance	variance	NOUN
fsr-3823	109	14	increases	increase	NOUN
fsr-3823	109	15	(	(	PUNCT
fsr-3823	109	16	for	for	ADP
fsr-3823	109	17	further	further	ADJ
fsr-3823	109	18	discussion	discussion	NOUN
fsr-3823	109	19	of	of	ADP
fsr-3823	109	20	the	the	DET
fsr-3823	109	21	lognormal	lognormal	ADJ
fsr-3823	109	22	distribution	distribution	NOUN
fsr-3823	109	23	see	see	VERB
fsr-3823	109	24	aitchison	aitchison	PROPN
fsr-3823	109	25	&	&	CCONJ
fsr-3823	109	26	brown	brown	PROPN
fsr-3823	109	27	,	,	PUNCT
fsr-3823	109	28	1957	1957	NUM
fsr-3823	109	29	,	,	PUNCT
fsr-3823	109	30	and	and	CCONJ
fsr-3823	109	31	shimizu	shimizu	PROPN
fsr-3823	109	32	,	,	PUNCT
fsr-3823	109	33	1988	1988	NUM
fsr-3823	109	34	)	)	PUNCT
fsr-3823	109	35	.	.	PUNCT
fsr-3823	110	1	by	by	ADP
fsr-3823	110	2	separating	separate	VERB
fsr-3823	110	3	inputs	input	NOUN
fsr-3823	110	4	into	into	ADP
fsr-3823	110	5	a	a	DET
fsr-3823	110	6	historical	historical	ADJ
fsr-3823	110	7	risk	risk	NOUN
fsr-3823	110	8	premium	premium	NOUN
fsr-3823	110	9	and	and	CCONJ
fsr-3823	110	10	a	a	DET
fsr-3823	110	11	current	current	ADJ
fsr-3823	110	12	risk	risk	NOUN
fsr-3823	110	13	-	-	PUNCT
fsr-3823	110	14	free	free	ADJ
fsr-3823	110	15	rate	rate	NOUN
fsr-3823	110	16	,	,	PUNCT
fsr-3823	110	17	pro	pro	X
fsr-3823	110	18	jected	jecte	VERB
fsr-3823	110	19	future	future	ADJ
fsr-3823	110	20	risk	risk	NOUN
fsr-3823	110	21	/	/	SYM
fsr-3823	110	22	return	return	NOUN
fsr-3823	110	23	relationships	relationship	NOUN
fsr-3823	110	24	reflect	reflect	VERB
fsr-3823	110	25	what	what	PRON
fsr-3823	110	26	the	the	DET
fsr-3823	110	27	market	market	NOUN
fsr-3823	110	28	itself	itself	PRON
fsr-3823	110	29	is	be	AUX
fsr-3823	110	30	currently	currently	ADV
fsr-3823	110	31	forecasting	forecast	VERB
fsr-3823	110	32	.	.	PUNCT
fsr-3823	111	1	(	(	PUNCT
fsr-3823	111	2	current	current	ADJ
fsr-3823	111	3	market	market	NOUN
fsr-3823	111	4	conditions	condition	NOUN
fsr-3823	111	5	are	be	AUX
fsr-3823	111	6	recognized	recognize	VERB
fsr-3823	111	7	through	through	ADP
fsr-3823	111	8	the	the	DET
fsr-3823	111	9	current	current	ADJ
fsr-3823	111	10	risk	risk	NOUN
fsr-3823	111	11	free	free	ADJ
fsr-3823	111	12	rate	rate	NOUN
fsr-3823	111	13	that	that	PRON
fsr-3823	111	14	may	may	AUX
fsr-3823	111	15	differ	differ	VERB
fsr-3823	111	16	substantially	substantially	ADV
fsr-3823	111	17	from	from	ADP
fsr-3823	111	18	the	the	DET
fsr-3823	111	19	historical	historical	ADJ
fsr-3823	111	20	risk	risk	NOUN
fsr-3823	111	21	-	-	PUNCT
fsr-3823	111	22	free	free	ADJ
fsr-3823	111	23	rate	rate	NOUN
fsr-3823	111	24	for	for	ADP
fsr-3823	111	25	an	an	DET
fsr-3823	111	26	asset	asset	NOUN
fsr-3823	111	27	class	class	NOUN
fsr-3823	111	28	(	(	PUNCT
fsr-3823	111	29	lucas	lucas	NOUN
fsr-3823	111	30	,	,	PUNCT
fsr-3823	111	31	1995	1995	NUM
fsr-3823	111	32	)	)	PUNCT
fsr-3823	111	33	.	.	PUNCT
fsr-3823	112	1	the	the	DET
fsr-3823	112	2	result	result	NOUN
fsr-3823	112	3	is	be	AUX
fsr-3823	112	4	emphasis	emphasis	NOUN
fsr-3823	112	5	on	on	ADP
fsr-3823	112	6	current	current	ADJ
fsr-3823	112	7	returns	return	NOUN
fsr-3823	112	8	as	as	ADP
fsr-3823	112	9	a	a	DET
fsr-3823	112	10	starting	starting	NOUN
fsr-3823	112	11	point	point	NOUN
fsr-3823	112	12	in	in	ADP
fsr-3823	112	13	the	the	DET
fsr-3823	112	14	projection	projection	NOUN
fsr-3823	112	15	of	of	ADP
fsr-3823	112	16	future	future	ADJ
fsr-3823	112	17	mean	mean	ADJ
fsr-3823	112	18	returns	return	NOUN
fsr-3823	112	19	.	.	PUNCT
fsr-3823	113	1	in	in	ADP
fsr-3823	113	2	addition	addition	NOUN
fsr-3823	113	3	to	to	ADP
fsr-3823	113	4	using	use	VERB
fsr-3823	113	5	the	the	DET
fsr-3823	113	6	mean	mean	ADJ
fsr-3823	113	7	and	and	CCONJ
fsr-3823	113	8	standard	standard	ADJ
fsr-3823	113	9	deviation	deviation	NOUN
fsr-3823	113	10	as	as	ADP
fsr-3823	113	11	inputs	input	NOUN
fsr-3823	113	12	,	,	PUNCT
fsr-3823	113	13	a	a	DET
fsr-3823	113	14	forecast	forecast	NOUN
fsr-3823	113	15	for	for	ADP
fsr-3823	113	16	a	a	DET
fsr-3823	113	17	portfolio	portfolio	NOUN
fsr-3823	113	18	requires	require	VERB
fsr-3823	113	19	estimation	estimation	NOUN
fsr-3823	113	20	of	of	ADP
fsr-3823	113	21	the	the	DET
fsr-3823	113	22	correlation	correlation	NOUN
fsr-3823	113	23	of	of	ADP
fsr-3823	113	24	each	each	DET
fsr-3823	113	25	asset	asset	NOUN
fsr-3823	113	26	in	in	ADP
fsr-3823	113	27	the	the	DET
fsr-3823	113	28	portfolio	portfolio	NOUN
fsr-3823	113	29	with	with	ADP
fsr-3823	113	30	every	every	DET
fsr-3823	113	31	other	other	ADJ
fsr-3823	113	32	.	.	PUNCT
fsr-3823	114	1	the	the	DET
fsr-3823	114	2	first	first	ADJ
fsr-3823	114	3	step	step	NOUN
fsr-3823	114	4	in	in	ADP
fsr-3823	114	5	using	use	VERB
fsr-3823	114	6	the	the	DET
fsr-3823	114	7	lognormal	lognormal	ADJ
fsr-3823	114	8	mode	mode	NOUN
fsr-3823	114	9	is	be	AUX
fsr-3823	114	10	calculation	calculation	NOUN
fsr-3823	114	11	of	of	ADP
fsr-3823	114	12	the	the	DET
fsr-3823	114	13	expected	expect	VERB
fsr-3823	114	14	value	value	NOUN
fsr-3823	114	15	(	(	PUNCT
fsr-3823	114	16	m	m	NOUN
fsr-3823	114	17	)	)	PUNCT
fsr-3823	114	18	and	and	CCONJ
fsr-3823	114	19	standard	standard	ADJ
fsr-3823	114	20	deviation	deviation	NOUN
fsr-3823	114	21	(	(	PUNCT
fsr-3823	114	22	s	s	NOUN
fsr-3823	114	23	)	)	PUNCT
fsr-3823	114	24	of	of	ADP
fsr-3823	114	25	the	the	DET
fsr-3823	114	26	natural	natural	ADJ
fsr-3823	114	27	logarithm	logarithm	NOUN
fsr-3823	114	28	(	(	PUNCT
fsr-3823	114	29	in	in	ADP
fsr-3823	114	30	)	)	PUNCT
fsr-3823	114	31	of	of	ADP
fsr-3823	114	32	the	the	DET
fsr-3823	114	33	portfolio	portfolio	NOUN
fsr-3823	114	34	’s	’s	PART
fsr-3823	114	35	return	return	NOUN
fsr-3823	114	36	relative	relative	ADJ
fsr-3823	114	37	.	.	PUNCT
fsr-3823	115	1	the	the	DET
fsr-3823	115	2	arithmetic	arithmetic	ADJ
fsr-3823	115	3	mean	mean	NOUN
fsr-3823	115	4	return	return	NOUN
fsr-3823	115	5	(	(	PUNCT
fsr-3823	115	6	p	p	NOUN
fsr-3823	115	7	)	)	PUNCT
fsr-3823	115	8	and	and	CCONJ
fsr-3823	115	9	standard	standard	ADJ
fsr-3823	115	10	deviation	deviation	NOUN
fsr-3823	115	11	(	(	PUNCT
fsr-3823	115	12	cr	cr	NOUN
fsr-3823	115	13	)	)	PUNCT
fsr-3823	115	14	of	of	ADP
fsr-3823	115	15	the	the	DET
fsr-3823	115	16	portfolio	portfolio	NOUN
fsr-3823	115	17	are	be	AUX
fsr-3823	115	18	used	use	VERB
fsr-3823	115	19	as	as	ADP
fsr-3823	115	20	follows	follow	VERB
fsr-3823	115	21	(	(	PUNCT
fsr-3823	115	22	using	use	VERB
fsr-3823	115	23	historical	historical	ADJ
fsr-3823	115	24	data	datum	NOUN
fsr-3823	115	25	.	.	PUNCT
fsr-3823	116	1	..	..	PUNCT
fsr-3823	116	2	,	,	PUNCT
fsr-3823	116	3	1995	1995	NUM
fsr-3823	116	4	):	):	PUNCT
fsr-3823	116	5	m	m	VERB
fsr-3823	116	6	=	=	SYM
fsr-3823	116	7	ln(l+l	ln(l+l	ADJ
fsr-3823	116	8	,	,	PUNCT
fsr-3823	116	9	t)g	t)g	ADJ
fsr-3823	116	10	(	(	PUNCT
fsr-3823	116	11	>	>	X
fsr-3823	116	12	and	and	CCONJ
fsr-3823	116	13	s	s	X
fsr-3823	116	14	=	=	NOUN
fsr-3823	116	15	/ln(l+	/ln(l+	PUNCT
fsr-3823	116	16	(	(	PUNCT
fsr-3823	116	17	57	57	NUM
fsr-3823	116	18	)	)	PUNCT
fsr-3823	116	19	ranges	range	NOUN
fsr-3823	116	20	of	of	ADP
fsr-3823	116	21	simulated	simulate	VERB
fsr-3823	116	22	rates	rate	NOUN
fsr-3823	116	23	of	of	ADP
fsr-3823	116	24	return	return	NOUN
fsr-3823	116	25	and	and	CCONJ
fsr-3823	116	26	the	the	DET
fsr-3823	116	27	statistical	statistical	ADJ
fsr-3823	116	28	confidence	confidence	NOUN
fsr-3823	116	29	in	in	ADP
fsr-3823	116	30	the	the	DET
fsr-3823	116	31	ranges	range	NOUN
fsr-3823	116	32	are	be	AUX
fsr-3823	116	33	cal	cal	ADV
fsr-3823	116	34	culated	culate	VERB
fsr-3823	116	35	by	by	ADP
fsr-3823	116	36	using	use	VERB
fsr-3823	116	37	z	z	NOUN
fsr-3823	116	38	-	-	PUNCT
fsr-3823	116	39	scores	score	NOUN
fsr-3823	116	40	to	to	PART
fsr-3823	116	41	specify	specify	VERB
fsr-3823	116	42	percentiles	percentile	NOUN
fsr-3823	116	43	in	in	ADP
fsr-3823	116	44	the	the	DET
fsr-3823	116	45	forecast	forecast	NOUN
fsr-3823	116	46	.	.	PUNCT
fsr-3823	117	1	thus	thus	ADV
fsr-3823	117	2	,	,	PUNCT
fsr-3823	117	3	a	a	DET
fsr-3823	117	4	68	68	NUM
fsr-3823	117	5	percent	percent	NOUN
fsr-3823	117	6	confi	confi	NOUN
fsr-3823	117	7	dence	dence	NOUN
fsr-3823	117	8	level	level	NOUN
fsr-3823	117	9	deviates	deviate	VERB
fsr-3823	117	10	one	one	NUM
fsr-3823	117	11	standard	standard	ADJ
fsr-3823	117	12	deviation	deviation	NOUN
fsr-3823	117	13	on	on	ADP
fsr-3823	117	14	each	each	DET
fsr-3823	117	15	side	side	NOUN
fsr-3823	117	16	of	of	ADP
fsr-3823	117	17	the	the	DET
fsr-3823	117	18	mean	mean	ADJ
fsr-3823	117	19	return	return	NOUN
fsr-3823	117	20	.	.	PUNCT
fsr-3823	118	1	likewise	likewise	ADV
fsr-3823	118	2	,	,	PUNCT
fsr-3823	118	3	the	the	DET
fsr-3823	118	4	5th	5th	ADJ
fsr-3823	118	5	and	and	CCONJ
fsr-3823	118	6	95’h	95’h	NUM
fsr-3823	118	7	percentiles	percentile	NOUN
fsr-3823	118	8	would	would	AUX
fsr-3823	118	9	be	be	AUX
fsr-3823	118	10	the	the	DET
fsr-3823	118	11	lower	low	ADJ
fsr-3823	118	12	and	and	CCONJ
fsr-3823	118	13	upper	upper	ADJ
fsr-3823	118	14	bounds	bound	NOUN
fsr-3823	118	15	providing	provide	VERB
fsr-3823	118	16	a	a	DET
fsr-3823	118	17	90	90	NUM
fsr-3823	118	18	percent	percent	NOUN
fsr-3823	118	19	con	con	NOUN
fsr-3823	118	20	fidence	fidence	NOUN
fsr-3823	118	21	level	level	NOUN
fsr-3823	118	22	for	for	ADP
fsr-3823	118	23	future	future	ADJ
fsr-3823	118	24	returns	return	NOUN
fsr-3823	118	25	.	.	PUNCT
fsr-3823	119	1	the	the	DET
fsr-3823	119	2	positive	positive	ADJ
fsr-3823	119	3	skewness	skewness	NOUN
fsr-3823	119	4	of	of	ADP
fsr-3823	119	5	the	the	DET
fsr-3823	119	6	lognormal	lognormal	ADJ
fsr-3823	119	7	distribution	distribution	NOUN
fsr-3823	119	8	results	result	NOUN
fsr-3823	119	9	in	in	ADP
fsr-3823	119	10	the	the	DET
fsr-3823	119	11	mean	mean	NOUN
fsr-3823	119	12	(	(	PUNCT
fsr-3823	119	13	or	or	CCONJ
fsr-3823	119	14	expected	expect	VERB
fsr-3823	119	15	value	value	NOUN
fsr-3823	119	16	)	)	PUNCT
fsr-3823	119	17	being	be	AUX
fsr-3823	119	18	greater	great	ADJ
fsr-3823	119	19	than	than	ADP
fsr-3823	119	20	the	the	DET
fsr-3823	119	21	median	median	NOUN
fsr-3823	119	22	.	.	PUNCT
fsr-3823	120	1	further	far	ADV
fsr-3823	120	2	,	,	PUNCT
fsr-3823	120	3	one	one	NUM
fsr-3823	120	4	standard	standard	ADJ
fsr-3823	120	5	devi	devi	PROPN
fsr-3823	120	6	hktorical	hktorical	PROPN
fsr-3823	120	7	investment	investment	NOUN
fsr-3823	120	8	performance	performance	NOUN
fsr-3823	120	9	161	161	NUM
fsr-3823	120	10	ation	ation	NOUN
fsr-3823	120	11	on	on	ADP
fsr-3823	120	12	each	each	DET
fsr-3823	120	13	side	side	NOUN
fsr-3823	120	14	of	of	ADP
fsr-3823	120	15	the	the	DET
fsr-3823	120	16	mean	mean	NOUN
fsr-3823	120	17	will	will	AUX
fsr-3823	120	18	differ	differ	VERB
fsr-3823	120	19	from	from	ADP
fsr-3823	120	20	exactly	exactly	ADV
fsr-3823	120	21	34	34	NUM
fsr-3823	120	22	percent	percent	NOUN
fsr-3823	120	23	because	because	SCONJ
fsr-3823	120	24	the	the	DET
fsr-3823	120	25	probabilities	probability	NOUN
fsr-3823	120	26	depend	depend	VERB
fsr-3823	120	27	on	on	ADP
fsr-3823	120	28	the	the	DET
fsr-3823	120	29	parameters	parameter	NOUN
fsr-3823	120	30	of	of	ADP
fsr-3823	120	31	the	the	DET
fsr-3823	120	32	distribution	distribution	NOUN
fsr-3823	120	33	(	(	PUNCT
fsr-3823	120	34	using	use	VERB
fsr-3823	120	35	historical	historical	ADJ
fsr-3823	120	36	data	datum	NOUN
fsr-3823	120	37	..	..	PUNCT
fsr-3823	120	38	.	.	PUNCT
fsr-3823	121	1	,	,	PUNCT
fsr-3823	121	2	1995	1995	NUM
fsr-3823	121	3	)	)	PUNCT
fsr-3823	121	4	.	.	PUNCT
fsr-3823	122	1	the	the	DET
fsr-3823	122	2	projections	projection	NOUN
fsr-3823	122	3	in	in	ADP
fsr-3823	122	4	this	this	DET
fsr-3823	122	5	study	study	NOUN
fsr-3823	122	6	were	be	AUX
fsr-3823	122	7	calculated	calculate	VERB
fsr-3823	122	8	by	by	ADP
fsr-3823	122	9	the	the	DET
fsr-3823	122	10	portfolio	portfolio	NOUN
fsr-3823	122	11	strategist	strategist	NOUN
fsr-3823	122	12	program	program	NOUN
fsr-3823	122	13	developed	develop	VERB
fsr-3823	122	14	and	and	CCONJ
fsr-3823	122	15	distributed	distribute	VERB
fsr-3823	122	16	by	by	ADP
fsr-3823	122	17	ibbotson	ibbotson	PROPN
fsr-3823	122	18	associates	associates	PROPN
fsr-3823	122	19	inc	inc	PROPN
fsr-3823	122	20	.	.	PROPN
fsr-3823	122	21	,	,	PUNCT
fsr-3823	122	22	chicago	chicago	PROPN
fsr-3823	122	23	,	,	PUNCT
fsr-3823	122	24	illinois	illinois	PROPN
fsr-3823	122	25	.	.	PUNCT
fsr-3823	123	1	the	the	DET
fsr-3823	123	2	program	program	NOUN
fsr-3823	123	3	pro	pro	ADJ
fsr-3823	123	4	duces	duce	NOUN
fsr-3823	123	5	efficient	efficient	ADJ
fsr-3823	123	6	portfolios	portfolio	NOUN
fsr-3823	123	7	using	use	VERB
fsr-3823	123	8	the	the	DET
fsr-3823	123	9	markowitz	markowitz	NOUN
fsr-3823	123	10	technique	technique	NOUN
fsr-3823	123	11	.	.	PUNCT
fsr-3823	124	1	it	it	PRON
fsr-3823	124	2	also	also	ADV
fsr-3823	124	3	projects	project	VERB
fsr-3823	124	4	ranges	range	NOUN
fsr-3823	124	5	of	of	ADP
fsr-3823	124	6	future	future	ADJ
fsr-3823	124	7	returns	return	NOUN
fsr-3823	124	8	.	.	PUNCT
fsr-3823	125	1	only	only	ADV
fsr-3823	125	2	the	the	DET
fsr-3823	125	3	projection	projection	ADJ
fsr-3823	125	4	part	part	NOUN
fsr-3823	125	5	of	of	ADP
fsr-3823	125	6	the	the	DET
fsr-3823	125	7	program	program	NOUN
fsr-3823	125	8	is	be	AUX
fsr-3823	125	9	used	use	VERB
fsr-3823	125	10	in	in	ADP
fsr-3823	125	11	this	this	DET
fsr-3823	125	12	study	study	NOUN
fsr-3823	125	13	.	.	PUNCT
fsr-3823	126	1	the	the	DET
fsr-3823	126	2	projections	projection	NOUN
fsr-3823	126	3	can	can	AUX
fsr-3823	126	4	be	be	AUX
fsr-3823	126	5	either	either	CCONJ
fsr-3823	126	6	for	for	ADP
fsr-3823	126	7	optimal	optimal	ADJ
fsr-3823	126	8	or	or	CCONJ
fsr-3823	126	9	non	non	ADJ
fsr-3823	126	10	-	-	ADJ
fsr-3823	126	11	optimal	optimal	ADJ
fsr-3823	126	12	portfolios	portfolio	NOUN
fsr-3823	126	13	.	.	PUNCT
fsr-3823	127	1	the	the	DET
fsr-3823	127	2	forecasts	forecast	NOUN
fsr-3823	127	3	in	in	ADP
fsr-3823	127	4	this	this	DET
fsr-3823	127	5	article	article	NOUN
fsr-3823	127	6	are	be	AUX
fsr-3823	127	7	for	for	ADP
fsr-3823	127	8	non	non	ADJ
fsr-3823	127	9	optimal	optimal	ADJ
fsr-3823	127	10	portfolios	portfolio	NOUN
fsr-3823	127	11	specified	specify	VERB
fsr-3823	127	12	by	by	ADP
fsr-3823	127	13	the	the	DET
fsr-3823	127	14	author	author	NOUN
fsr-3823	127	15	.	.	PUNCT
fsr-3823	128	1	the	the	DET
fsr-3823	128	2	hypothetical	hypothetical	ADJ
fsr-3823	128	3	general	general	PROPN
fsr-3823	128	4	account	account	NOUN
fsr-3823	128	5	portfolio	portfolio	NOUN
fsr-3823	128	6	is	be	AUX
fsr-3823	128	7	constructed	construct	VERB
fsr-3823	128	8	for	for	ADP
fsr-3823	128	9	this	this	DET
fsr-3823	128	10	study	study	NOUN
fsr-3823	128	11	by	by	ADP
fsr-3823	128	12	weighting	weight	VERB
fsr-3823	128	13	certain	certain	ADJ
fsr-3823	128	14	assets	asset	NOUN
fsr-3823	128	15	classes	class	NOUN
fsr-3823	128	16	(	(	PUNCT
fsr-3823	128	17	e.g.	e.g.	ADV
fsr-3823	128	18	,	,	PUNCT
fsr-3823	128	19	lehman	lehman	PROPN
fsr-3823	128	20	brothers	brother	NOUN
fsr-3823	128	21	corporate	corporate	ADJ
fsr-3823	128	22	bond	bond	NOUN
fsr-3823	128	23	index	index	NOUN
fsr-3823	128	24	and	and	CCONJ
fsr-3823	128	25	the	the	DET
fsr-3823	128	26	standard	standard	PROPN
fsr-3823	128	27	&	&	CCONJ
fsr-3823	128	28	poor	poor	PROPN
fsr-3823	128	29	’s	’s	PART
fsr-3823	128	30	500	500	NUM
fsr-3823	128	31	average	average	NOUN
fsr-3823	128	32	)	)	PUNCT
fsr-3823	128	33	as	as	SCONJ
fsr-3823	128	34	reflected	reflect	VERB
fsr-3823	128	35	in	in	ADP
fsr-3823	128	36	ibbotson	ibbotson	PROPN
fsr-3823	128	37	’s	’s	PART
fsr-3823	128	38	optimizer	optimizer	NOUN
fsr-3823	128	39	inputs	input	NOUN
fsr-3823	128	40	and	and	CCONJ
fsr-3823	128	41	using	use	VERB
fsr-3823	128	42	them	they	PRON
fsr-3823	128	43	as	as	ADP
fsr-3823	128	44	proxies	proxy	NOUN
fsr-3823	128	45	for	for	ADP
fsr-3823	128	46	segments	segment	NOUN
fsr-3823	128	47	of	of	ADP
fsr-3823	128	48	an	an	DET
fsr-3823	128	49	insurer	insurer	NOUN
fsr-3823	128	50	’s	’s	PART
fsr-3823	128	51	general	general	ADJ
fsr-3823	128	52	account	account	NOUN
fsr-3823	128	53	.	.	PUNCT
fsr-3823	129	1	industry	industry	NOUN
fsr-3823	129	2	averages	average	NOUN
fsr-3823	129	3	as	as	ADP
fsr-3823	129	4	of	of	ADP
fsr-3823	129	5	the	the	DET
fsr-3823	129	6	end	end	NOUN
fsr-3823	129	7	of	of	ADP
fsr-3823	129	8	1993	1993	NUM
fsr-3823	129	9	are	be	AUX
fsr-3823	129	10	used	use	VERB
fsr-3823	129	11	to	to	PART
fsr-3823	129	12	determine	determine	VERB
fsr-3823	129	13	portfolio	portfolio	NOUN
fsr-3823	129	14	weights	weight	NOUN
fsr-3823	129	15	for	for	ADP
fsr-3823	129	16	the	the	DET
fsr-3823	129	17	hypothetical	hypothetical	ADJ
fsr-3823	129	18	general	general	ADJ
fsr-3823	129	19	account	account	NOUN
fsr-3823	129	20	.	.	PUNCT
fsr-3823	130	1	this	this	PRON
fsr-3823	130	2	is	be	AUX
fsr-3823	130	3	done	do	VERB
fsr-3823	130	4	by	by	ADP
fsr-3823	130	5	building	build	VERB
fsr-3823	130	6	the	the	DET
fsr-3823	130	7	hypothetical	hypothetical	ADJ
fsr-3823	130	8	portfolio	portfolio	NOUN
fsr-3823	130	9	from	from	ADP
fsr-3823	130	10	series	series	NOUN
fsr-3823	130	11	of	of	ADP
fsr-3823	130	12	long	long	ADJ
fsr-3823	130	13	-	-	PUNCT
fsr-3823	130	14	term	term	NOUN
fsr-3823	130	15	government	government	NOUN
fsr-3823	130	16	bonds	bond	NOUN
fsr-3823	130	17	,	,	PUNCT
fsr-3823	130	18	long	long	ADJ
fsr-3823	130	19	-	-	PUNCT
fsr-3823	130	20	term	term	NOUN
fsr-3823	130	21	corporate	corporate	ADJ
fsr-3823	130	22	bonds	bond	NOUN
fsr-3823	130	23	,	,	PUNCT
fsr-3823	130	24	treasury	treasury	NOUN
fsr-3823	130	25	bills	bill	NOUN
fsr-3823	130	26	,	,	PUNCT
fsr-3823	130	27	and	and	CCONJ
fsr-3823	130	28	so	so	ADV
fsr-3823	130	29	forth	forth	ADV
fsr-3823	130	30	.	.	PUNCT
fsr-3823	131	1	when	when	SCONJ
fsr-3823	131	2	an	an	DET
fsr-3823	131	3	entire	entire	ADJ
fsr-3823	131	4	history	history	NOUN
fsr-3823	131	5	(	(	PUNCT
fsr-3823	131	6	such	such	ADJ
fsr-3823	131	7	as	as	ADP
fsr-3823	131	8	that	that	PRON
fsr-3823	131	9	for	for	ADP
fsr-3823	131	10	large	large	ADJ
fsr-3823	131	11	company	company	NOUN
fsr-3823	131	12	common	common	ADJ
fsr-3823	131	13	stocks	stock	NOUN
fsr-3823	131	14	beginning	begin	VERB
fsr-3823	131	15	in	in	ADP
fsr-3823	131	16	1926	1926	NUM
fsr-3823	131	17	)	)	PUNCT
fsr-3823	131	18	is	be	AUX
fsr-3823	131	19	relevant	relevant	ADJ
fsr-3823	131	20	to	to	ADP
fsr-3823	131	21	projecting	project	VERB
fsr-3823	131	22	future	future	ADJ
fsr-3823	131	23	returns	return	NOUN
fsr-3823	131	24	,	,	PUNCT
fsr-3823	131	25	statistical	statistical	ADJ
fsr-3823	131	26	parameters	parameter	NOUN
fsr-3823	131	27	are	be	AUX
fsr-3823	131	28	based	base	VERB
fsr-3823	131	29	on	on	ADP
fsr-3823	131	30	the	the	DET
fsr-3823	131	31	entire	entire	ADJ
fsr-3823	131	32	available	available	ADJ
fsr-3823	131	33	history	history	NOUN
fsr-3823	131	34	of	of	ADP
fsr-3823	131	35	returns	return	NOUN
fsr-3823	131	36	.	.	PUNCT
fsr-3823	132	1	other	other	ADJ
fsr-3823	132	2	asset	asset	NOUN
fsr-3823	132	3	classes	class	NOUN
fsr-3823	132	4	use	use	VERB
fsr-3823	132	5	shorter	short	ADJ
fsr-3823	132	6	histories	history	NOUN
fsr-3823	132	7	of	of	ADP
fsr-3823	132	8	monthly	monthly	ADJ
fsr-3823	132	9	returns	return	NOUN
fsr-3823	132	10	in	in	ADP
fsr-3823	132	11	the	the	DET
fsr-3823	132	12	calculation	calculation	NOUN
fsr-3823	132	13	of	of	ADP
fsr-3823	132	14	annualized	annualize	VERB
fsr-3823	132	15	expected	expect	VERB
fsr-3823	132	16	values	value	NOUN
fsr-3823	132	17	and	and	CCONJ
fsr-3823	132	18	standard	standard	ADJ
fsr-3823	132	19	deviations	deviation	NOUN
fsr-3823	132	20	.	.	PUNCT
fsr-3823	133	1	for	for	ADP
fsr-3823	133	2	example	example	NOUN
fsr-3823	133	3	bond	bond	NOUN
fsr-3823	133	4	and	and	CCONJ
fsr-3823	133	5	other	other	ADJ
fsr-3823	133	6	fixed	fix	VERB
fsr-3823	133	7	income	income	NOUN
fsr-3823	133	8	markets	market	NOUN
fsr-3823	133	9	experienced	experience	VERB
fsr-3823	133	10	a	a	DET
fsr-3823	133	11	structural	structural	ADJ
fsr-3823	133	12	change	change	NOUN
fsr-3823	133	13	in	in	ADP
fsr-3823	133	14	the	the	DET
fsr-3823	133	15	1970s	1970	NOUN
fsr-3823	133	16	due	due	ADP
fsr-3823	133	17	to	to	ADP
fsr-3823	133	18	the	the	DET
fsr-3823	133	19	u.s	u.s	PROPN
fsr-3823	133	20	.	.	PROPN
fsr-3823	133	21	federal	federal	PROPN
fsr-3823	133	22	reserve	reserve	PROPN
fsr-3823	133	23	system	system	NOUN
fsr-3823	133	24	trying	try	VERB
fsr-3823	133	25	to	to	PART
fsr-3823	133	26	manage	manage	VERB
fsr-3823	133	27	the	the	DET
fsr-3823	133	28	money	money	NOUN
fsr-3823	133	29	supply	supply	NOUN
fsr-3823	133	30	.	.	PUNCT
fsr-3823	134	1	consequently	consequently	ADV
fsr-3823	134	2	,	,	PUNCT
fsr-3823	134	3	data	datum	NOUN
fsr-3823	134	4	for	for	ADP
fsr-3823	134	5	shorter	short	ADJ
fsr-3823	134	6	historical	historical	ADJ
fsr-3823	134	7	periods	period	NOUN
fsr-3823	134	8	are	be	AUX
fsr-3823	134	9	used	use	VERB
fsr-3823	134	10	for	for	ADP
fsr-3823	134	11	these	these	DET
fsr-3823	134	12	portions	portion	NOUN
fsr-3823	134	13	of	of	ADP
fsr-3823	134	14	a	a	DET
fsr-3823	134	15	portfolio	portfolio	NOUN
fsr-3823	134	16	.	.	PUNCT
fsr-3823	135	1	an	an	DET
fsr-3823	135	2	implicit	implicit	ADJ
fsr-3823	135	3	assumption	assumption	NOUN
fsr-3823	135	4	of	of	ADP
fsr-3823	135	5	the	the	DET
fsr-3823	135	6	methodology	methodology	NOUN
fsr-3823	135	7	is	be	AUX
fsr-3823	135	8	that	that	SCONJ
fsr-3823	135	9	future	future	ADJ
fsr-3823	135	10	investment	investment	NOUN
fsr-3823	135	11	results	result	NOUN
fsr-3823	135	12	can	can	AUX
fsr-3823	135	13	be	be	AUX
fsr-3823	135	14	forecasted	forecast	VERB
fsr-3823	135	15	by	by	ADP
fsr-3823	135	16	historical	historical	ADJ
fsr-3823	135	17	performance	performance	NOUN
fsr-3823	135	18	.	.	PUNCT
fsr-3823	136	1	the	the	DET
fsr-3823	136	2	movement	movement	NOUN
fsr-3823	136	3	of	of	ADP
fsr-3823	136	4	financial	financial	ADJ
fsr-3823	136	5	markets	market	NOUN
fsr-3823	136	6	is	be	AUX
fsr-3823	136	7	influenced	influence	VERB
fsr-3823	136	8	by	by	ADP
fsr-3823	136	9	many	many	ADJ
fsr-3823	136	10	factors	factor	NOUN
fsr-3823	136	11	,	,	PUNCT
fsr-3823	136	12	including	include	VERB
fsr-3823	136	13	economics	economic	NOUN
fsr-3823	136	14	,	,	PUNCT
fsr-3823	136	15	inflation	inflation	NOUN
fsr-3823	136	16	,	,	PUNCT
fsr-3823	136	17	monetary	monetary	ADJ
fsr-3823	136	18	and	and	CCONJ
fsr-3823	136	19	fiscal	fiscal	ADJ
fsr-3823	136	20	policy	policy	NOUN
fsr-3823	136	21	,	,	PUNCT
fsr-3823	136	22	politics	politic	NOUN
fsr-3823	136	23	,	,	PUNCT
fsr-3823	136	24	and	and	CCONJ
fsr-3823	136	25	glo	glo	PROPN
fsr-3823	136	26	bal	bal	ADJ
fsr-3823	136	27	factors	factor	NOUN
fsr-3823	136	28	.	.	PUNCT
fsr-3823	137	1	the	the	DET
fsr-3823	137	2	future	future	NOUN
fsr-3823	137	3	will	will	AUX
fsr-3823	137	4	not	not	PART
fsr-3823	137	5	be	be	AUX
fsr-3823	137	6	exactly	exactly	ADV
fsr-3823	137	7	like	like	ADP
fsr-3823	137	8	the	the	DET
fsr-3823	137	9	past	past	NOUN
fsr-3823	137	10	and	and	CCONJ
fsr-3823	137	11	the	the	DET
fsr-3823	137	12	difference	difference	NOUN
fsr-3823	137	13	may	may	AUX
fsr-3823	137	14	not	not	PART
fsr-3823	137	15	be	be	AUX
fsr-3823	137	16	fore	fore	ADV
fsr-3823	137	17	seeable	seeable	ADJ
fsr-3823	137	18	.	.	PUNCT
fsr-3823	138	1	consequently	consequently	ADV
fsr-3823	138	2	,	,	PUNCT
fsr-3823	138	3	a	a	DET
fsr-3823	138	4	mathematical	mathematical	ADJ
fsr-3823	138	5	model	model	NOUN
fsr-3823	138	6	can	can	AUX
fsr-3823	138	7	not	not	PART
fsr-3823	138	8	forecast	forecast	VERB
fsr-3823	138	9	,	,	PUNCT
fsr-3823	138	10	for	for	ADP
fsr-3823	138	11	example	example	NOUN
fsr-3823	138	12	,	,	PUNCT
fsr-3823	138	13	future	future	ADJ
fsr-3823	138	14	structural	structural	ADJ
fsr-3823	138	15	changes	change	NOUN
fsr-3823	138	16	in	in	ADP
fsr-3823	138	17	financial	financial	ADJ
fsr-3823	138	18	markets	market	NOUN
fsr-3823	138	19	.	.	PUNCT
fsr-3823	139	1	john	john	PROPN
fsr-3823	139	2	maynard	maynard	PROPN
fsr-3823	139	3	keynes	keynes	PROPN
fsr-3823	139	4	expressed	express	VERB
fsr-3823	139	5	this	this	PRON
fsr-3823	139	6	by	by	ADP
fsr-3823	139	7	saying	say	VERB
fsr-3823	139	8	that	that	SCONJ
fsr-3823	139	9	human	human	ADJ
fsr-3823	139	10	behavior	behavior	NOUN
fsr-3823	139	11	is	be	AUX
fsr-3823	139	12	not	not	PART
fsr-3823	139	13	“	"	PUNCT
fsr-3823	139	14	homogeneous	homogeneous	ADJ
fsr-3823	139	15	through	through	ADP
fsr-3823	139	16	time	time	NOUN
fsr-3823	139	17	.	.	PUNCT
fsr-3823	139	18	”	"	PUNCT
fsr-3823	140	1	yet	yet	ADV
fsr-3823	140	2	the	the	DET
fsr-3823	140	3	past	past	NOUN
fsr-3823	140	4	is	be	AUX
fsr-3823	140	5	probably	probably	ADV
fsr-3823	140	6	the	the	DET
fsr-3823	140	7	best	good	ADJ
fsr-3823	140	8	guide	guide	NOUN
fsr-3823	140	9	we	we	PRON
fsr-3823	140	10	have	have	VERB
fsr-3823	140	11	to	to	ADP
fsr-3823	140	12	the	the	DET
fsr-3823	140	13	future	future	NOUN
fsr-3823	140	14	,	,	PUNCT
fsr-3823	140	15	especially	especially	ADV
fsr-3823	140	16	in	in	ADP
fsr-3823	140	17	projecting	project	VERB
fsr-3823	140	18	the	the	DET
fsr-3823	140	19	range	range	NOUN
fsr-3823	140	20	of	of	ADP
fsr-3823	140	21	returns	return	NOUN
fsr-3823	140	22	over	over	ADP
fsr-3823	140	23	the	the	DET
fsr-3823	140	24	long	long	ADJ
fsr-3823	140	25	run	run	NOUN
fsr-3823	140	26	.	.	PUNCT
fsr-3823	141	1	iv	iv	X
fsr-3823	141	2	.	.	PUNCT
fsr-3823	141	3	results	result	NOUN
fsr-3823	141	4	at	at	ADP
fsr-3823	141	5	the	the	DET
fsr-3823	141	6	end	end	NOUN
fsr-3823	141	7	of	of	ADP
fsr-3823	141	8	1993	1993	NUM
fsr-3823	141	9	,	,	PUNCT
fsr-3823	141	10	general	general	ADJ
fsr-3823	141	11	accounts	account	VERB
fsr-3823	141	12	for	for	ADP
fsr-3823	141	13	the	the	DET
fsr-3823	141	14	universe	universe	NOUN
fsr-3823	141	15	of	of	ADP
fsr-3823	141	16	u.s	u.s	PROPN
fsr-3823	141	17	.	.	PROPN
fsr-3823	141	18	life	life	NOUN
fsr-3823	141	19	insurers	insurer	NOUN
fsr-3823	141	20	consisted	consist	VERB
fsr-3823	141	21	of	of	ADP
fsr-3823	141	22	the	the	DET
fsr-3823	141	23	following	follow	VERB
fsr-3823	141	24	major	major	ADJ
fsr-3823	141	25	asset	asset	NOUN
fsr-3823	141	26	classes	class	NOUN
fsr-3823	141	27	and	and	CCONJ
fsr-3823	141	28	weights	weight	NOUN
fsr-3823	141	29	:	:	PUNCT
fsr-3823	141	30	(	(	PUNCT
fsr-3823	141	31	1	1	X
fsr-3823	141	32	)	)	PUNCT
fsr-3823	141	33	corporate	corporate	ADJ
fsr-3823	141	34	bonds	bond	NOUN
fsr-3823	141	35	,	,	PUNCT
fsr-3823	141	36	41.74	41.74	NUM
fsr-3823	141	37	percent	percent	NOUN
fsr-3823	141	38	;	;	PUNCT
fsr-3823	141	39	(	(	PUNCT
fsr-3823	141	40	2	2	X
fsr-3823	141	41	)	)	PUNCT
fsr-3823	141	42	govem	govem	NOUN
fsr-3823	141	43	ment	ment	PROPN
fsr-3823	141	44	securities	securities	PROPN
fsr-3823	141	45	,	,	PUNCT
fsr-3823	141	46	25.17	25.17	NUM
fsr-3823	141	47	percent	percent	NOUN
fsr-3823	141	48	;	;	PUNCT
fsr-3823	141	49	(	(	PUNCT
fsr-3823	141	50	3	3	X
fsr-3823	141	51	)	)	PUNCT
fsr-3823	141	52	mortgages	mortgage	NOUN
fsr-3823	141	53	,	,	PUNCT
fsr-3823	141	54	14.76	14.76	NUM
fsr-3823	141	55	percent	percent	NOUN
fsr-3823	141	56	;	;	PUNCT
fsr-3823	141	57	(	(	PUNCT
fsr-3823	141	58	4	4	X
fsr-3823	141	59	)	)	PUNCT
fsr-3823	141	60	policy	policy	NOUN
fsr-3823	141	61	loans	loan	NOUN
fsr-3823	141	62	,	,	PUNCT
fsr-3823	141	63	5.09	5.09	NUM
fsr-3823	141	64	percent	percent	NOUN
fsr-3823	141	65	;	;	PUNCT
fsr-3823	141	66	(	(	PUNCT
fsr-3823	141	67	5	5	X
fsr-3823	141	68	)	)	PUNCT
fsr-3823	141	69	corporate	corporate	ADJ
fsr-3823	141	70	stocks	stock	NOUN
fsr-3823	141	71	,	,	PUNCT
fsr-3823	141	72	5.07	5.07	NUM
fsr-3823	141	73	percent	percent	NOUN
fsr-3823	141	74	;	;	PUNCT
fsr-3823	141	75	(	(	PUNCT
fsr-3823	141	76	6	6	X
fsr-3823	141	77	)	)	PUNCT
fsr-3823	141	78	real	real	ADJ
fsr-3823	141	79	estate	estate	NOUN
fsr-3823	141	80	,	,	PUNCT
fsr-3823	141	81	2.85	2.85	NUM
fsr-3823	141	82	percent	percent	NOUN
fsr-3823	141	83	;	;	PUNCT
fsr-3823	141	84	and	and	CCONJ
fsr-3823	141	85	(	(	PUNCT
fsr-3823	141	86	7	7	X
fsr-3823	141	87	)	)	PUNCT
fsr-3823	141	88	miscellaneous	miscellaneous	ADJ
fsr-3823	141	89	assets	asset	NOUN
fsr-3823	141	90	,	,	PUNCT
fsr-3823	141	91	5.32	5.32	NUM
fsr-3823	141	92	percent	percent	NOUN
fsr-3823	141	93	.	.	PUNCT
fsr-3823	142	1	an	an	DET
fsr-3823	142	2	approximation	approximation	NOUN
fsr-3823	142	3	of	of	ADP
fsr-3823	142	4	the	the	DET
fsr-3823	142	5	history	history	NOUN
fsr-3823	142	6	for	for	ADP
fsr-3823	142	7	this	this	DET
fsr-3823	142	8	“	"	PUNCT
fsr-3823	142	9	1993	1993	NUM
fsr-3823	142	10	industry	industry	NOUN
fsr-3823	142	11	portfolio	portfolio	NOUN
fsr-3823	142	12	”	"	PUNCT
fsr-3823	142	13	was	be	AUX
fsr-3823	142	14	created	create	VERB
fsr-3823	142	15	with	with	ADP
fsr-3823	142	16	total	total	ADJ
fsr-3823	142	17	market	market	NOUN
fsr-3823	142	18	returns	return	NOUN
fsr-3823	142	19	for	for	ADP
fsr-3823	142	20	the	the	DET
fsr-3823	142	21	proxies	proxy	NOUN
fsr-3823	142	22	shown	show	VERB
fsr-3823	142	23	in	in	ADP
fsr-3823	142	24	table	table	NOUN
fsr-3823	142	25	1	1	NUM
fsr-3823	142	26	.	.	PUNCT
fsr-3823	143	1	(	(	PUNCT
fsr-3823	143	2	the	the	DET
fsr-3823	143	3	ibbotson	ibbotson	PROPN
fsr-3823	143	4	associ	associ	PROPN
fsr-3823	143	5	ates	ate	VERB
fsr-3823	143	6	portfolio	portfolio	NOUN
fsr-3823	143	7	strategist	strategist	NOUN
fsr-3823	143	8	software	software	NOUN
fsr-3823	143	9	allows	allow	VERB
fsr-3823	143	10	the	the	DET
fsr-3823	143	11	specifications	specification	NOUN
fsr-3823	143	12	of	of	ADP
fsr-3823	143	13	one-	one-	ADJ
fsr-3823	143	14	,	,	PUNCT
fsr-3823	143	15	five-	five-	INTJ
fsr-3823	143	16	,	,	PUNCT
fsr-3823	143	17	or	or	CCONJ
fsr-3823	143	18	20	20	NUM
fsr-3823	143	19	-	-	PUNCT
fsr-3823	143	20	year	year	NOUN
fsr-3823	143	21	holding	hold	VERB
fsr-3823	143	22	periods	period	NOUN
fsr-3823	143	23	for	for	ADP
fsr-3823	143	24	investments	investment	NOUN
fsr-3823	143	25	.	.	PUNCT
fsr-3823	144	1	in	in	ADP
fsr-3823	144	2	the	the	DET
fsr-3823	144	3	absence	absence	NOUN
fsr-3823	144	4	of	of	ADP
fsr-3823	144	5	alternatives	alternative	NOUN
fsr-3823	144	6	between	between	ADP
fsr-3823	144	7	five	five	NUM
fsr-3823	144	8	and	and	CCONJ
fsr-3823	144	9	20	20	NUM
fsr-3823	144	10	years	year	NOUN
fsr-3823	144	11	,	,	PUNCT
fsr-3823	144	12	a	a	DET
fsr-3823	144	13	20	20	NUM
fsr-3823	144	14	-	-	PUNCT
fsr-3823	144	15	year	year	NOUN
fsr-3823	144	16	period	period	NOUN
fsr-3823	144	17	was	be	AUX
fsr-3823	144	18	specified	specify	VERB
fsr-3823	144	19	for	for	ADP
fsr-3823	144	20	the	the	DET
fsr-3823	144	21	simulations	simulation	NOUN
fsr-3823	144	22	in	in	ADP
fsr-3823	144	23	the	the	DET
fsr-3823	144	24	current	current	ADJ
fsr-3823	144	25	study	study	NOUN
fsr-3823	144	26	.	.	PUNCT
fsr-3823	145	1	the	the	DET
fsr-3823	145	2	holding	hold	VERB
fsr-3823	145	3	period	period	NOUN
fsr-3823	145	4	influences	influence	VERB
fsr-3823	145	5	the	the	DET
fsr-3823	145	6	riskless	riskless	NOUN
fsr-3823	145	7	rate	rate	NOUN
fsr-3823	145	8	that	that	PRON
fsr-3823	145	9	is	be	AUX
fsr-3823	145	10	used	use	VERB
fsr-3823	145	11	in	in	ADP
fsr-3823	145	12	separating	separate	VERB
fsr-3823	145	13	the	the	DET
fsr-3823	145	14	total	total	ADJ
fsr-3823	145	15	return	return	NOUN
fsr-3823	145	16	for	for	ADP
fsr-3823	145	17	a	a	DET
fsr-3823	145	18	class	class	NOUN
fsr-3823	145	19	of	of	ADP
fsr-3823	145	20	assets	asset	NOUN
fsr-3823	145	21	into	into	ADP
fsr-3823	145	22	riskless	riskless	NOUN
fsr-3823	145	23	and	and	CCONJ
fsr-3823	145	24	risk	risk	NOUN
fsr-3823	145	25	premia	premia	PROPN
fsr-3823	145	26	components	component	NOUN
fsr-3823	145	27	.	.	PUNCT
fsr-3823	146	1	the	the	DET
fsr-3823	146	2	current	current	ADJ
fsr-3823	146	3	yield	yield	NOUN
fsr-3823	146	4	for	for	ADP
fsr-3823	146	5	a	a	DET
fsr-3823	146	6	zero	zero	NUM
fsr-3823	146	7	coupon	coupon	NOUN
fsr-3823	146	8	bond	bond	NOUN
fsr-3823	146	9	with	with	ADP
fsr-3823	146	10	a	a	DET
fsr-3823	146	11	maturity	maturity	NOUN
fsr-3823	146	12	matching	match	VERB
fsr-3823	146	13	the	the	DET
fsr-3823	146	14	chosen	choose	VERB
fsr-3823	146	15	holding	holding	NOUN
fsr-3823	146	16	period	period	NOUN
fsr-3823	146	17	becomes	become	VERB
fsr-3823	146	18	the	the	DET
fsr-3823	146	19	riskless	riskless	NOUN
fsr-3823	146	20	rate	rate	NOUN
fsr-3823	146	21	.	.	PUNCT
fsr-3823	146	22	)	)	PUNCT
fsr-3823	147	1	162	162	NUM
fsr-3823	147	2	financial	financial	ADJ
fsr-3823	147	3	services	service	NOUN
fsr-3823	147	4	review	review	VERB
fsr-3823	147	5	6(3	6(3	NUM
fsr-3823	147	6	)	)	PUNCT
fsr-3823	147	7	1998	1998	NUM
fsr-3823	147	8	table	table	NOUN
fsr-3823	147	9	1	1	NUM
fsr-3823	147	10	.	.	PUNCT
fsr-3823	148	1	proxies	proxy	NOUN
fsr-3823	148	2	for	for	ADP
fsr-3823	148	3	asset	asset	NOUN
fsr-3823	148	4	segments	segment	NOUN
fsr-3823	148	5	held	hold	VERB
fsr-3823	148	6	by	by	ADP
fsr-3823	148	7	u.s	u.s	PROPN
fsr-3823	148	8	.	.	PROPN
fsr-3823	148	9	life	life	NOUN
fsr-3823	148	10	insurers	insurer	NOUN
fsr-3823	148	11	at	at	ADP
fsr-3823	148	12	the	the	DET
fsr-3823	148	13	end	end	NOUN
fsr-3823	148	14	of	of	ADP
fsr-3823	148	15	1993	1993	NUM
fsr-3823	148	16	portfolio	portfolio	NOUN
fsr-3823	148	17	segment	segment	NOUN
fsr-3823	148	18	(	(	PUNCT
fsr-3823	148	19	s	s	NOUN
fsr-3823	148	20	)	)	PUNCT
fsr-3823	148	21	pldxy	pldxy	NOUN
fsr-3823	148	22	weight	weight	NOUN
fsr-3823	148	23	%	%	NOUN
fsr-3823	148	24	corporate	corporate	ADJ
fsr-3823	148	25	bonds	bond	NOUN
fsr-3823	148	26	lehman	lehman	PROPN
fsr-3823	148	27	brothers	brother	NOUN
fsr-3823	148	28	corporate	corporate	ADJ
fsr-3823	148	29	bonds	bond	NOUN
fsr-3823	148	30	41.7	41.7	NUM
fsr-3823	148	31	government	government	NOUN
fsr-3823	148	32	securities	security	NOUN
fsr-3823	148	33	lehman	lehman	PROPN
fsr-3823	148	34	brothers	brothers	PROPN
fsr-3823	148	35	government	government	NOUN
fsr-3823	148	36	bonds	bond	VERB
fsr-3823	148	37	25.2	25.2	NUM
fsr-3823	148	38	mortgages	mortgage	NOUN
fsr-3823	148	39	&	&	CCONJ
fsr-3823	148	40	real	real	ADJ
fsr-3823	148	41	estate	estate	NOUN
fsr-3823	148	42	ibbotson	ibbotson	PROPN
fsr-3823	148	43	assoc	assoc	PROPN
fsr-3823	148	44	.	.	PUNCT
fsr-3823	149	1	business	business	PROPN
fsr-3823	149	2	real	real	ADJ
fsr-3823	149	3	estate	estate	NOUN
fsr-3823	149	4	17.6	17.6	NUM
fsr-3823	149	5	corporate	corporate	ADJ
fsr-3823	149	6	stocks	stock	NOUN
fsr-3823	149	7	standard	standard	PROPN
fsr-3823	149	8	&	&	CCONJ
fsr-3823	149	9	poor	poor	PROPN
fsr-3823	149	10	’s	’s	PART
fsr-3823	149	11	500	500	NUM
fsr-3823	149	12	5.1	5.1	NUM
fsr-3823	149	13	policy	policy	NOUN
fsr-3823	149	14	loans	loan	NOUN
fsr-3823	149	15	90.day	90.day	PROPN
fsr-3823	149	16	treasury	treasury	NOUN
fsr-3823	149	17	bills	bill	NOUN
fsr-3823	149	18	5.1	5.1	NUM
fsr-3823	149	19	miscellaneous	miscellaneous	ADJ
fsr-3823	149	20	assets	asset	NOUN
fsr-3823	149	21	30	30	NUM
fsr-3823	149	22	-	-	PUNCT
fsr-3823	149	23	day	day	NOUN
fsr-3823	149	24	treasury	treasury	NOUN
fsr-3823	149	25	bills	bill	NOUN
fsr-3823	149	26	5.3	5.3	NUM
fsr-3823	149	27	note	note	NOUN
fsr-3823	149	28	:	:	PUNCT
fsr-3823	149	29	for	for	ADP
fsr-3823	149	30	each	each	DET
fsr-3823	149	31	proxy	proxy	NOUN
fsr-3823	149	32	the	the	DET
fsr-3823	149	33	measure	measure	NOUN
fsr-3823	149	34	of	of	ADP
fsr-3823	149	35	performance	performance	NOUN
fsr-3823	149	36	is	be	AUX
fsr-3823	149	37	total	total	ADJ
fsr-3823	149	38	annual	annual	ADJ
fsr-3823	149	39	returns	return	NOUN
fsr-3823	149	40	.	.	PUNCT
fsr-3823	150	1	historical	historical	ADJ
fsr-3823	150	2	holding	hold	VERB
fsr-3823	150	3	periods	period	NOUN
fsr-3823	150	4	for	for	ADP
fsr-3823	150	5	the	the	DET
fsr-3823	150	6	proxies	proxy	NOUN
fsr-3823	150	7	are	be	AUX
fsr-3823	150	8	:	:	PUNCT
fsr-3823	150	9	lehman	lehman	PROPN
fsr-3823	150	10	brothers	brother	NOUN
fsr-3823	150	11	corporate	corporate	ADJ
fsr-3823	150	12	and	and	CCONJ
fsr-3823	150	13	government	government	NOUN
fsr-3823	150	14	bonds	bond	NOUN
fsr-3823	150	15	,	,	PUNCT
fsr-3823	150	16	197351994	197351994	NUM
fsr-3823	150	17	;	;	PUNCT
fsr-3823	150	18	businew	businew	ADJ
fsr-3823	150	19	real	real	ADJ
fsr-3823	150	20	estate	estate	NOUN
fsr-3823	150	21	.	.	PUNCT
fsr-3823	151	1	1978	1978	NUM
fsr-3823	151	2	-	-	SYM
fsr-3823	151	3	1994	1994	NUM
fsr-3823	151	4	;	;	PUNCT
fsr-3823	151	5	s	s	X
fsr-3823	151	6	&	&	CCONJ
fsr-3823	151	7	p	p	PROPN
fsr-3823	151	8	soo	soo	PROPN
fsr-3823	151	9	,	,	PUNCT
fsr-3823	151	10	1926	1926	NUM
fsr-3823	151	11	-	-	SYM
fsr-3823	151	12	1994	1994	NUM
fsr-3823	151	13	;	;	PUNCT
fsr-3823	151	14	90	90	NUM
fsr-3823	151	15	.	.	PUNCT
fsr-3823	151	16	day	day	PROPN
fsr-3823	151	17	treasury	treasury	PROPN
fsr-3823	151	18	bills	bill	NOUN
fsr-3823	151	19	,	,	PUNCT
fsr-3823	151	20	1978	1978	NUM
fsr-3823	151	21	-	-	SYM
fsr-3823	151	22	1994	1994	NUM
fsr-3823	151	23	:	:	PUNCT
fsr-3823	151	24	and	and	CCONJ
fsr-3823	151	25	30	30	NUM
fsr-3823	151	26	-	-	PUNCT
fsr-3823	151	27	day	day	NOUN
fsr-3823	151	28	treasury	treasury	NOUN
fsr-3823	151	29	bills	bill	NOUN
fsr-3823	151	30	,	,	PUNCT
fsr-3823	151	31	1969	1969	NUM
fsr-3823	151	32	-	-	SYM
fsr-3823	151	33	1994	1994	NUM
fsr-3823	151	34	statistics	statistic	NOUN
fsr-3823	151	35	for	for	ADP
fsr-3823	151	36	u.s	u.s	PROPN
fsr-3823	151	37	.	.	PROPN
fsr-3823	151	38	life	life	NOUN
fsr-3823	151	39	insurers	insurer	NOUN
fsr-3823	151	40	at	at	ADP
fsr-3823	151	41	the	the	DET
fsr-3823	151	42	end	end	NOUN
fsr-3823	151	43	of	of	ADP
fsr-3823	151	44	1993	1993	NUM
fsr-3823	151	45	show	show	VERB
fsr-3823	151	46	that	that	SCONJ
fsr-3823	151	47	less	less	ADJ
fsr-3823	151	48	than	than	ADP
fsr-3823	151	49	one	one	NUM
fsr-3823	151	50	percent	percent	NOUN
fsr-3823	151	51	of	of	ADP
fsr-3823	151	52	corporate	corporate	ADJ
fsr-3823	151	53	securities	security	NOUN
fsr-3823	151	54	(	(	PUNCT
fsr-3823	151	55	bonds	bond	NOUN
fsr-3823	151	56	and	and	CCONJ
fsr-3823	151	57	stocks	stock	NOUN
fsr-3823	151	58	)	)	PUNCT
fsr-3823	151	59	were	be	AUX
fsr-3823	151	60	invested	invest	VERB
fsr-3823	151	61	in	in	ADP
fsr-3823	151	62	corporations	corporation	NOUN
fsr-3823	151	63	of	of	ADP
fsr-3823	151	64	foreign	foreign	ADJ
fsr-3823	151	65	countries	country	NOUN
fsr-3823	151	66	.	.	PUNCT
fsr-3823	152	1	private	private	ADJ
fsr-3823	152	2	placements	placement	NOUN
fsr-3823	152	3	accounted	account	VERB
fsr-3823	152	4	for	for	ADP
fsr-3823	152	5	23.1	23.1	NUM
fsr-3823	152	6	percent	percent	NOUN
fsr-3823	152	7	of	of	ADP
fsr-3823	152	8	corporate	corporate	ADJ
fsr-3823	152	9	bond	bond	NOUN
fsr-3823	152	10	holdings	holding	NOUN
fsr-3823	152	11	.	.	PUNCT
fsr-3823	153	1	all	all	PRON
fsr-3823	153	2	but	but	SCONJ
fsr-3823	153	3	2.6	2.6	NUM
fsr-3823	153	4	per	per	ADP
fsr-3823	153	5	cent	cent	NOUN
fsr-3823	153	6	of	of	ADP
fsr-3823	153	7	the	the	DET
fsr-3823	153	8	corporate	corporate	ADJ
fsr-3823	153	9	bond	bond	NOUN
fsr-3823	153	10	holdings	holding	NOUN
fsr-3823	153	11	were	be	AUX
fsr-3823	153	12	classified	classify	VERB
fsr-3823	153	13	as	as	ADP
fsr-3823	153	14	high	high	ADJ
fsr-3823	153	15	or	or	CCONJ
fsr-3823	153	16	medium	medium	ADJ
fsr-3823	153	17	grade	grade	NOUN
fsr-3823	153	18	-	-	PUNCT
fsr-3823	153	19	naic	naic	PROPN
fsr-3823	153	20	classes	class	NOUN
fsr-3823	153	21	1,2	1,2	NUM
fsr-3823	153	22	,	,	PUNCT
fsr-3823	153	23	and	and	CCONJ
fsr-3823	153	24	3	3	X
fsr-3823	153	25	.	.	X
fsr-3823	153	26	average	average	ADJ
fsr-3823	153	27	distributions	distribution	NOUN
fsr-3823	153	28	by	by	ADP
fsr-3823	153	29	maturity	maturity	NOUN
fsr-3823	153	30	have	have	AUX
fsr-3823	153	31	been	be	AUX
fsr-3823	153	32	shortening	shorten	VERB
fsr-3823	153	33	in	in	ADP
fsr-3823	153	34	recent	recent	ADJ
fsr-3823	153	35	years	year	NOUN
fsr-3823	153	36	with	with	ADP
fsr-3823	153	37	only	only	ADV
fsr-3823	153	38	34.4	34.4	NUM
fsr-3823	153	39	percent	percent	NOUN
fsr-3823	153	40	of	of	ADP
fsr-3823	153	41	corporate	corporate	ADJ
fsr-3823	153	42	bonds	bond	NOUN
fsr-3823	153	43	held	hold	VERB
fsr-3823	153	44	at	at	ADP
fsr-3823	153	45	the	the	DET
fsr-3823	153	46	end	end	NOUN
fsr-3823	153	47	of	of	ADP
fsr-3823	153	48	1993	1993	NUM
fsr-3823	153	49	maturing	mature	VERB
fsr-3823	153	50	in	in	ADP
fsr-3823	153	51	over	over	ADP
fsr-3823	153	52	10	10	NUM
fsr-3823	153	53	years	year	NOUN
fsr-3823	153	54	(	(	PUNCT
fsr-3823	153	55	17.2	17.2	NUM
fsr-3823	153	56	percent	percent	NOUN
fsr-3823	153	57	in	in	ADP
fsr-3823	153	58	more	more	ADJ
fsr-3823	153	59	than	than	ADP
fsr-3823	153	60	20	20	NUM
fsr-3823	153	61	years	year	NOUN
fsr-3823	153	62	)	)	PUNCT
fsr-3823	153	63	.	.	PUNCT
fsr-3823	154	1	government	government	NOUN
fsr-3823	154	2	securities	security	NOUN
fsr-3823	154	3	are	be	AUX
fsr-3823	154	4	of	of	ADP
fsr-3823	154	5	longer	long	ADJ
fsr-3823	154	6	average	average	ADJ
fsr-3823	154	7	maturity	maturity	NOUN
fsr-3823	154	8	with	with	ADP
fsr-3823	154	9	53.5	53.5	NUM
fsr-3823	154	10	percent	percent	NOUN
fsr-3823	154	11	maturing	mature	VERB
fsr-3823	154	12	in	in	ADP
fsr-3823	154	13	over	over	ADP
fsr-3823	154	14	ten	ten	NUM
fsr-3823	154	15	years	year	NOUN
fsr-3823	154	16	and	and	CCONJ
fsr-3823	154	17	32	32	NUM
fsr-3823	154	18	percent	percent	NOUN
fsr-3823	154	19	maturing	mature	VERB
fsr-3823	154	20	in	in	ADP
fsr-3823	154	21	over	over	ADP
fsr-3823	154	22	20	20	NUM
fsr-3823	154	23	years	year	NOUN
fsr-3823	154	24	.	.	PUNCT
fsr-3823	155	1	for	for	ADP
fsr-3823	155	2	eign	eign	ADJ
fsr-3823	155	3	government	government	NOUN
fsr-3823	155	4	and	and	CCONJ
fsr-3823	155	5	international	international	ADJ
fsr-3823	155	6	agency	agency	NOUN
fsr-3823	155	7	securities	security	NOUN
fsr-3823	155	8	accounted	account	VERB
fsr-3823	155	9	for	for	ADP
fsr-3823	155	10	9.5	9.5	NUM
fsr-3823	155	11	percent	percent	NOUN
fsr-3823	155	12	,	,	PUNCT
fsr-3823	155	13	and	and	CCONJ
fsr-3823	155	14	state	state	NOUN
fsr-3823	155	15	and	and	CCONJ
fsr-3823	155	16	local	local	ADJ
fsr-3823	155	17	issues	issue	NOUN
fsr-3823	155	18	made	make	VERB
fsr-3823	155	19	up	up	ADP
fsr-3823	155	20	3.8	3.8	NUM
fsr-3823	155	21	percent	percent	NOUN
fsr-3823	155	22	of	of	ADP
fsr-3823	155	23	all	all	DET
fsr-3823	155	24	government	government	NOUN
fsr-3823	155	25	securities	security	NOUN
fsr-3823	155	26	.	.	PUNCT
fsr-3823	156	1	the	the	DET
fsr-3823	156	2	remainder	remainder	NOUN
fsr-3823	156	3	were	be	AUX
fsr-3823	156	4	u.s	u.s	PROPN
fsr-3823	156	5	.	.	PROPN
fsr-3823	156	6	federal	federal	ADJ
fsr-3823	156	7	agency	agency	PROPN
fsr-3823	156	8	and	and	CCONJ
fsr-3823	156	9	treasury	treasury	PROPN
fsr-3823	156	10	issues	issue	NOUN
fsr-3823	156	11	.	.	PUNCT
fsr-3823	157	1	mortgages	mortgage	NOUN
fsr-3823	157	2	were	be	AUX
fsr-3823	157	3	distributed	distribute	VERB
fsr-3823	157	4	as	as	SCONJ
fsr-3823	157	5	follows	follow	VERB
fsr-3823	157	6	:	:	PUNCT
fsr-3823	157	7	91.7	91.7	NUM
fsr-3823	157	8	percent	percent	NOUN
fsr-3823	157	9	commercial	commercial	NOUN
fsr-3823	157	10	,	,	PUNCT
fsr-3823	157	11	4.1	4.1	NUM
fsr-3823	157	12	percent	percent	NOUN
fsr-3823	157	13	one	one	NUM
fsr-3823	157	14	-	-	PUNCT
fsr-3823	157	15	to	to	ADP
fsr-3823	157	16	four	four	NUM
fsr-3823	157	17	family	family	NOUN
fsr-3823	157	18	homes	home	NOUN
fsr-3823	157	19	,	,	PUNCT
fsr-3823	157	20	and	and	CCONJ
fsr-3823	157	21	4.1	4.1	NUM
fsr-3823	157	22	percent	percent	NOUN
fsr-3823	157	23	farm	farm	NOUN
fsr-3823	157	24	mortgages	mortgage	NOUN
fsr-3823	157	25	.	.	PUNCT
fsr-3823	158	1	properties	property	NOUN
fsr-3823	158	2	located	locate	VERB
fsr-3823	158	3	in	in	ADP
fsr-3823	158	4	the	the	DET
fsr-3823	158	5	u.s	u.s	PROPN
fsr-3823	158	6	.	.	PROPN
fsr-3823	158	7	accounted	account	VERB
fsr-3823	158	8	for	for	ADP
fsr-3823	158	9	98	98	NUM
fsr-3823	158	10	percent	percent	NOUN
fsr-3823	158	11	of	of	ADP
fsr-3823	158	12	all	all	DET
fsr-3823	158	13	mortgages	mortgage	NOUN
fsr-3823	158	14	.	.	PUNCT
fsr-3823	159	1	in	in	ADP
fsr-3823	159	2	the	the	DET
fsr-3823	159	3	absence	absence	NOUN
fsr-3823	159	4	of	of	ADP
fsr-3823	159	5	a	a	DET
fsr-3823	159	6	proxy	proxy	NOUN
fsr-3823	159	7	for	for	ADP
fsr-3823	159	8	mortgages	mortgage	NOUN
fsr-3823	159	9	,	,	PUNCT
fsr-3823	159	10	they	they	PRON
fsr-3823	159	11	were	be	AUX
fsr-3823	159	12	combined	combine	VERB
fsr-3823	159	13	with	with	ADP
fsr-3823	159	14	directly	directly	ADV
fsr-3823	159	15	-	-	PUNCT
fsr-3823	159	16	owned	own	VERB
fsr-3823	159	17	real	real	ADJ
fsr-3823	159	18	estate	estate	NOUN
fsr-3823	159	19	.	.	PUNCT
fsr-3823	160	1	the	the	DET
fsr-3823	160	2	small	small	ADJ
fsr-3823	160	3	portion	portion	NOUN
fsr-3823	160	4	of	of	ADP
fsr-3823	160	5	directly	directly	ADV
fsr-3823	160	6	-	-	PUNCT
fsr-3823	160	7	owned	own	VERB
fsr-3823	160	8	real	real	ADJ
fsr-3823	160	9	estate	estate	NOUN
fsr-3823	160	10	consists	consist	VERB
fsr-3823	160	11	primarily	primarily	ADV
fsr-3823	160	12	of	of	ADP
fsr-3823	160	13	large	large	ADJ
fsr-3823	160	14	apartment	apartment	NOUN
fsr-3823	160	15	complexes	complex	NOUN
fsr-3823	160	16	,	,	PUNCT
fsr-3823	160	17	shopping	shopping	NOUN
fsr-3823	160	18	centers	center	NOUN
fsr-3823	160	19	,	,	PUNCT
fsr-3823	160	20	multi	multi	ADJ
fsr-3823	160	21	-	-	ADJ
fsr-3823	160	22	purpose	purpose	ADJ
fsr-3823	160	23	office	office	NOUN
fsr-3823	160	24	buildings	building	NOUN
fsr-3823	160	25	,	,	PUNCT
fsr-3823	160	26	and	and	CCONJ
fsr-3823	160	27	home	home	NOUN
fsr-3823	160	28	and	and	CCONJ
fsr-3823	160	29	regional	regional	ADJ
fsr-3823	160	30	offices	office	NOUN
fsr-3823	160	31	.	.	PUNCT
fsr-3823	161	1	common	common	ADJ
fsr-3823	161	2	stocks	stock	NOUN
fsr-3823	161	3	accounted	account	VERB
fsr-3823	161	4	for	for	ADP
fsr-3823	161	5	95.8	95.8	NUM
fsr-3823	161	6	percent	percent	NOUN
fsr-3823	161	7	of	of	ADP
fsr-3823	161	8	all	all	DET
fsr-3823	161	9	life	life	NOUN
fsr-3823	161	10	insurer	insurer	NOUN
fsr-3823	161	11	stock	stock	NOUN
fsr-3823	161	12	investments	investment	NOUN
fsr-3823	161	13	.	.	PUNCT
fsr-3823	162	1	this	this	DET
fsr-3823	162	2	statistic	statistic	NOUN
fsr-3823	162	3	applies	apply	VERB
fsr-3823	162	4	to	to	ADP
fsr-3823	162	5	common	common	ADJ
fsr-3823	162	6	stocks	stock	NOUN
fsr-3823	162	7	for	for	ADP
fsr-3823	162	8	general	general	ADJ
fsr-3823	162	9	and	and	CCONJ
fsr-3823	162	10	separate	separate	ADJ
fsr-3823	162	11	accounts	account	NOUN
fsr-3823	162	12	combined	combine	VERB
fsr-3823	162	13	.	.	PUNCT
fsr-3823	163	1	only	only	ADV
fsr-3823	163	2	17.8	17.8	NUM
fsr-3823	163	3	table	table	NOUN
fsr-3823	163	4	2	2	NUM
fsr-3823	163	5	.	.	PUNCT
fsr-3823	164	1	distributions	distribution	NOUN
fsr-3823	164	2	of	of	ADP
fsr-3823	164	3	projected	project	VERB
fsr-3823	164	4	compound	compound	ADJ
fsr-3823	164	5	annual	annual	ADJ
fsr-3823	164	6	returns	return	NOUN
fsr-3823	164	7	based	base	VERB
fsr-3823	164	8	on	on	ADP
fsr-3823	164	9	proxies	proxy	NOUN
fsr-3823	164	10	of	of	ADP
fsr-3823	164	11	asset	asset	NOUN
fsr-3823	164	12	classes	class	NOUN
fsr-3823	164	13	held	hold	VERB
fsr-3823	164	14	in	in	ADP
fsr-3823	164	15	general	general	ADJ
fsr-3823	164	16	accounts	account	NOUN
fsr-3823	164	17	of	of	ADP
fsr-3823	164	18	u.s	u.s	PROPN
fsr-3823	164	19	.	.	PROPN
fsr-3823	164	20	life	life	NOUN
fsr-3823	164	21	insurers	insurer	NOUN
fsr-3823	164	22	at	at	ADP
fsr-3823	164	23	the	the	DET
fsr-3823	164	24	end	end	NOUN
fsr-3823	164	25	of	of	ADP
fsr-3823	164	26	1993	1993	NUM
fsr-3823	164	27	return	return	NOUN
fsr-3823	164	28	percentiles	percentile	NOUN
fsr-3823	164	29	i	i	PRON
fsr-3823	164	30	year	year	NOUN
fsr-3823	164	31	5	5	NUM
fsr-3823	164	32	years	year	NOUN
fsr-3823	164	33	period	period	NOUN
fsr-3823	164	34	of	of	ADP
fsr-3823	164	35	in	in	ADP
fsr-3823	164	36	-	-	PUNCT
fsr-3823	164	37	force	force	NOUN
fsr-3823	164	38	status	status	NOUN
fsr-3823	164	39	iv	iv	NUM
fsr-3823	164	40	years	year	NOUN
fsr-3823	164	41	20	20	NUM
fsr-3823	164	42	years	year	NOUN
fsr-3823	164	43	30	30	NUM
fsr-3823	164	44	years	year	NOUN
fsr-3823	164	45	40	40	NUM
fsr-3823	164	46	year.7	year.7	NUM
fsr-3823	164	47	50	50	NUM
fsr-3823	164	48	years	year	NOUN
fsr-3823	164	49	95th	95th	ADV
fsr-3823	164	50	per	per	ADP
fsr-3823	164	51	18.84	18.84	NUM
fsr-3823	164	52	12.13	12.13	NUM
fsr-3823	164	53	10.60	10.60	NUM
fsr-3823	164	54	9.53	9.53	NUM
fsr-3823	164	55	9.06	9.06	NUM
fsr-3823	164	56	8.78	8.78	NUM
fsr-3823	164	57	8.59	8.59	NUM
fsr-3823	164	58	75th	75th	NOUN
fsr-3823	164	59	per	per	ADP
fsr-3823	164	60	11.70	11.70	NUM
fsr-3823	164	61	9.07	9.07	NUM
fsr-3823	164	62	8.45	8.45	NUM
fsr-3823	164	63	8.02	8.02	NUM
fsr-3823	164	64	7.83	7.83	NUM
fsr-3823	164	65	7.72	7.72	NUM
fsr-3823	164	66	7.64	7.64	NUM
fsr-3823	164	67	65th	65th	NOUN
fsr-3823	164	68	per	per	ADP
fsr-3823	164	69	9.65	9.65	NUM
fsr-3823	164	70	8.17	8.17	NUM
fsr-3823	164	71	7.82	7.82	NUM
fsr-3823	164	72	7.58	7.58	NUM
fsr-3823	164	73	7.47	7.47	NUM
fsr-3823	164	74	7.40	7.40	NUM
fsr-3823	164	75	7.36	7.36	NUM
fsr-3823	164	76	50th	50th	NOUN
fsr-3823	164	77	per	per	ADP
fsr-3823	164	78	7.20	7.20	NUM
fsr-3823	164	79	7.03	7.03	NUM
fsr-3823	164	80	7.01	7.01	NUM
fsr-3823	164	81	7.00	7.00	NUM
fsr-3823	164	82	6.99	6.99	NUM
fsr-3823	164	83	6.99	6.99	NUM
fsr-3823	164	84	6.99	6.99	NUM
fsr-3823	164	85	35th	35th	NOUN
fsr-3823	164	86	per	per	ADP
fsr-3823	164	87	4.38	4.38	NUM
fsr-3823	164	88	5.81	5.81	NUM
fsr-3823	164	89	6.15	6.15	NUM
fsr-3823	164	90	6.40	6.40	NUM
fsr-3823	164	91	6.50	6.50	NUM
fsr-3823	164	92	6.57	6.57	NUM
fsr-3823	164	93	6.61	6.61	NUM
fsr-3823	164	94	25th	25th	NOUN
fsr-3823	164	95	per	per	ADP
fsr-3823	164	96	2.47	2.47	NUM
fsr-3823	164	97	4.94	4.94	NUM
fsr-3823	164	98	5.54	5.54	NUM
fsr-3823	164	99	5.96	5.96	NUM
fsr-3823	164	100	6.15	6.15	NUM
fsr-3823	164	101	6.26	6.26	NUM
fsr-3823	164	102	6.33	6.33	NUM
fsr-3823	164	103	5th	5th	NOUN
fsr-3823	164	104	per	per	ADP
fsr-3823	164	105	-3.69	-3.69	NOUN
fsr-3823	164	106	2.07	2.07	NUM
fsr-3823	164	107	3.49	3.49	NUM
fsr-3823	164	108	4.50	4.50	NUM
fsr-3823	164	109	4.95	4.95	NUM
fsr-3823	164	110	5.22	5.22	NUM
fsr-3823	164	111	5.41	5.41	NUM
fsr-3823	164	112	note	note	NOUN
fsr-3823	164	113	:	:	PUNCT
fsr-3823	164	114	0	0	NUM
fsr-3823	164	115	computed	compute	VERB
fsr-3823	164	116	using	use	VERB
fsr-3823	164	117	data	datum	NOUN
fsr-3823	164	118	from	from	ADP
fsr-3823	164	119	lbbotson	lbbotson	PROPN
fsr-3823	164	120	associates	associates	PROPN
fsr-3823	164	121	.	.	PUNCT
fsr-3823	165	1	porrfolio	porrfolio	ADJ
fsr-3823	165	2	stmrrgist	stmrrgist	PROPN
fsr-3823	165	3	software	software	NOUN
fsr-3823	165	4	,	,	PUNCT
fsr-3823	165	5	1996	1996	NUM
fsr-3823	165	6	.	.	PUNCT
fsr-3823	166	1	chicago	chicago	PROPN
fsr-3823	166	2	.	.	PUNCT
fsr-3823	167	1	ii	ii	PROPN
fsr-3823	167	2	.	.	PROPN
fsr-3823	167	3	used	use	VERB
fsr-3823	167	4	with	with	ADP
fsr-3823	167	5	permission	permission	NOUN
fsr-3823	167	6	.	.	PUNCT
fsr-3823	168	1	all	all	DET
fsr-3823	168	2	rights	right	NOUN
fsr-3823	168	3	reserved	reserve	VERB
fsr-3823	168	4	.	.	PUNCT
fsr-3823	169	1	his&acal	his&acal	ADJ
fsr-3823	169	2	investment	investment	NOUN
fsr-3823	169	3	performance	performance	NOUN
fsr-3823	169	4	163	163	NUM
fsr-3823	169	5	compound	compound	NOUN
fsr-3823	169	6	annual	annual	ADJ
fsr-3823	169	7	return	return	NOUN
fsr-3823	169	8	f%	f%	NOUN
fsr-3823	169	9	)	)	PUNCT
fsr-3823	169	10	l&ml	l&ml	NOUN
fsr-3823	169	11	time	time	NOUN
fsr-3823	170	1	i	i	PRON
fsr-3823	170	2	9sth	9sth	PROPN
fsr-3823	170	3	percentifs	percentifs	PROPN
fsr-3823	170	4	75th	75th	ADJ
fsr-3823	170	5	percentlfff	percentlfff	PROPN
fsr-3823	170	6	-85th	-85th	PROPN
fsr-3823	170	7	percentile	percentile	ADJ
fsr-3823	170	8	averngc	averngc	ADJ
fsr-3823	170	9	veius	veius	NOUN
fsr-3823	170	10	35th	35th	ADJ
fsr-3823	170	11	i”erc8ntifo	i”erc8ntifo	PROPN
fsr-3823	170	12	25th	25th	ADJ
fsr-3823	170	13	percentile	percentile	ADJ
fsr-3823	170	14	,	,	PUNCT
fsr-3823	170	15	5th	5th	ADJ
fsr-3823	170	16	percent&e	percent&e	ADJ
fsr-3823	170	17	souycc	souycc	NOUN
fsr-3823	170	18	:	:	PUNCT
fsr-3823	170	19	0	0	NUM
fsr-3823	170	20	computed	compute	VERB
fsr-3823	170	21	using	use	VERB
fsr-3823	170	22	data	datum	NOUN
fsr-3823	170	23	from	from	ADP
fsr-3823	170	24	ibbotson	ibbotson	PROPN
fsr-3823	170	25	associstes	associste	NOUN
fsr-3823	170	26	,	,	PUNCT
fsr-3823	170	27	portfxio	portfxio	ADJ
fsr-3823	170	28	sfmregisr	sfmregisr	ADJ
fsr-3823	170	29	software	software	NOUN
fsr-3823	170	30	.	.	PUNCT
fsr-3823	171	1	1996	1996	NUM
fsr-3823	171	2	,	,	PUNCT
fsr-3823	171	3	chicago	chicago	PROPN
fsr-3823	171	4	.	.	PUNCT
fsr-3823	172	1	il	il	AUX
fsr-3823	172	2	.	.	PROPN
fsr-3823	172	3	used	use	VERB
fsr-3823	172	4	with	with	ADP
fsr-3823	172	5	pcrmis	pcrmis	PROPN
fsr-3823	172	6	sion	sion	PROPN
fsr-3823	172	7	.	.	PUNCT
fsr-3823	173	1	all	all	DET
fsr-3823	173	2	rights	right	NOUN
fsr-3823	173	3	reserved	reserve	VERB
fsr-3823	173	4	figure	figure	NOUN
fsr-3823	173	5	2	2	NUM
fsr-3823	173	6	.	.	PUNCT
fsr-3823	173	7	distribution	distribution	NOUN
fsr-3823	173	8	of	of	ADP
fsr-3823	173	9	projected	project	VERB
fsr-3823	173	10	compound	compound	ADJ
fsr-3823	173	11	annual	annual	ADJ
fsr-3823	173	12	returns	return	NOUN
fsr-3823	173	13	based	base	VERB
fsr-3823	173	14	on	on	ADP
fsr-3823	173	15	proxies	proxy	NOUN
fsr-3823	173	16	of	of	ADP
fsr-3823	173	17	asset	asset	NOUN
fsr-3823	173	18	classes	class	NOUN
fsr-3823	173	19	held	hold	VERB
fsr-3823	173	20	in	in	ADP
fsr-3823	173	21	the	the	DET
fsr-3823	173	22	general	general	ADJ
fsr-3823	173	23	accounts	account	NOUN
fsr-3823	173	24	of	of	ADP
fsr-3823	173	25	u.s	u.s	PROPN
fsr-3823	173	26	.	.	PROPN
fsr-3823	173	27	life	life	NOUN
fsr-3823	173	28	insurers	insurer	NOUN
fsr-3823	173	29	at	at	ADP
fsr-3823	173	30	the	the	DET
fsr-3823	173	31	end	end	NOUN
fsr-3823	173	32	of	of	ADP
fsr-3823	173	33	1993	1993	NUM
fsr-3823	173	34	percent	percent	NOUN
fsr-3823	173	35	of	of	ADP
fsr-3823	173	36	total	total	ADJ
fsr-3823	173	37	common	common	ADJ
fsr-3823	173	38	stock	stock	NOUN
fsr-3823	173	39	holdings	holding	NOUN
fsr-3823	173	40	were	be	AUX
fsr-3823	173	41	held	hold	VERB
fsr-3823	173	42	in	in	ADP
fsr-3823	173	43	the	the	DET
fsr-3823	173	44	general	general	ADJ
fsr-3823	173	45	accuunts	accuunt	NOUN
fsr-3823	173	46	of	of	ADP
fsr-3823	173	47	concern	concern	NOUN
fsr-3823	173	48	in	in	ADP
fsr-3823	173	49	this	this	DET
fsr-3823	173	50	study	study	NOUN
fsr-3823	173	51	.	.	PUNCT
fsr-3823	174	1	because	because	SCONJ
fsr-3823	174	2	outstanding	outstanding	ADJ
fsr-3823	174	3	policy	policy	NOUN
fsr-3823	174	4	loans	loan	NOUN
fsr-3823	174	5	reduce	reduce	VERB
fsr-3823	174	6	cash	cash	NOUN
fsr-3823	174	7	values	value	NOUN
fsr-3823	174	8	and	and	CCONJ
fsr-3823	174	9	death	death	NOUN
fsr-3823	174	10	benefits	benefit	NOUN
fsr-3823	174	11	,	,	PUNCT
fsr-3823	174	12	they	they	PRON
fsr-3823	174	13	are	be	AUX
fsr-3823	174	14	highly	highly	ADV
fsr-3823	174	15	secure	secure	ADJ
fsr-3823	174	16	.	.	PUNCT
fsr-3823	175	1	miscellaneous	miscellaneous	ADJ
fsr-3823	175	2	assets	asset	NOUN
fsr-3823	175	3	consist	consist	VERB
fsr-3823	175	4	primarily	primarily	ADV
fsr-3823	175	5	of	of	ADP
fsr-3823	175	6	due	due	ADJ
fsr-3823	175	7	and	and	CCONJ
fsr-3823	175	8	deferred	deferred	ADJ
fsr-3823	175	9	premiums	premium	NOUN
fsr-3823	175	10	(	(	PUNCT
fsr-3823	175	11	14.8	14.8	NUM
fsr-3823	175	12	percent	percent	NOUN
fsr-3823	175	13	of	of	ADP
fsr-3823	175	14	this	this	DET
fsr-3823	175	15	asset	asset	NOUN
fsr-3823	175	16	class	class	NOUN
fsr-3823	175	17	)	)	PUNCT
fsr-3823	175	18	,	,	PUNCT
fsr-3823	175	19	investment	investment	NOUN
fsr-3823	175	20	income	income	NOUN
fsr-3823	175	21	due	due	ADJ
fsr-3823	175	22	and	and	CCONJ
fsr-3823	175	23	accrued	accrue	VERB
fsr-3823	175	24	(	(	PUNCT
fsr-3823	175	25	20.5	20.5	NUM
fsr-3823	175	26	percent	percent	NOUN
fsr-3823	175	27	)	)	PUNCT
fsr-3823	175	28	,	,	PUNCT
fsr-3823	175	29	cash	cash	NOUN
fsr-3823	175	30	(	(	PUNCT
fsr-3823	175	31	0.5	0.5	NUM
fsr-3823	175	32	percent	percent	NOUN
fsr-3823	175	33	)	)	PUNCT
fsr-3823	175	34	,	,	PUNCT
fsr-3823	175	35	and	and	CCONJ
fsr-3823	175	36	real	real	ADJ
fsr-3823	175	37	estate	estate	NOUN
fsr-3823	175	38	joint	joint	ADJ
fsr-3823	175	39	ventures	venture	NOUN
fsr-3823	175	40	(	(	PUNCT
fsr-3823	175	41	acli	acli	ADJ
fsr-3823	175	42	,	,	PUNCT
fsr-3823	175	43	1994	1994	NUM
fsr-3823	175	44	)	)	PUNCT
fsr-3823	175	45	.	.	PUNCT
fsr-3823	176	1	the	the	DET
fsr-3823	176	2	use	use	NOUN
fsr-3823	176	3	of	of	ADP
fsr-3823	176	4	treasury	treasury	NOUN
fsr-3823	176	5	bills	bill	NOUN
fsr-3823	176	6	as	as	ADP
fsr-3823	176	7	proxies	proxy	NOUN
fsr-3823	176	8	164	164	NUM
fsr-3823	176	9	financial	financial	ADJ
fsr-3823	176	10	services	service	NOUN
fsr-3823	176	11	review	review	VERB
fsr-3823	176	12	6(3	6(3	NUM
fsr-3823	176	13	)	)	PUNCT
fsr-3823	176	14	1998	1998	NUM
fsr-3823	176	15	for	for	ADP
fsr-3823	176	16	the	the	DET
fsr-3823	176	17	latter	latter	ADJ
fsr-3823	176	18	two	two	NUM
fsr-3823	176	19	categories	category	NOUN
fsr-3823	176	20	is	be	AUX
fsr-3823	176	21	further	far	ADV
fsr-3823	176	22	justified	justify	VERB
fsr-3823	176	23	by	by	ADP
fsr-3823	176	24	the	the	DET
fsr-3823	176	25	fact	fact	NOUN
fsr-3823	176	26	that	that	SCONJ
fsr-3823	176	27	2.5	2.5	NUM
fsr-3823	176	28	percent	percent	NOUN
fsr-3823	176	29	of	of	ADP
fsr-3823	176	30	securities	security	NOUN
fsr-3823	176	31	in	in	ADP
fsr-3823	176	32	the	the	DET
fsr-3823	176	33	“	"	PUNCT
fsr-3823	176	34	government	government	NOUN
fsr-3823	176	35	bond	bond	NOUN
fsr-3823	176	36	”	"	PUNCT
fsr-3823	176	37	category	category	NOUN
fsr-3823	176	38	were	be	AUX
fsr-3823	176	39	short	short	ADJ
fsr-3823	176	40	-	-	PUNCT
fsr-3823	176	41	term	term	NOUN
fsr-3823	176	42	treasury	treasury	NOUN
fsr-3823	176	43	and	and	CCONJ
fsr-3823	176	44	short	short	ADJ
fsr-3823	176	45	-	-	PUNCT
fsr-3823	176	46	term	term	NOUN
fsr-3823	176	47	federal	federal	ADJ
fsr-3823	176	48	agency	agency	NOUN
fsr-3823	176	49	issues	issue	NOUN
fsr-3823	176	50	being	be	AUX
fsr-3823	176	51	held	hold	VERB
fsr-3823	176	52	for	for	ADP
fsr-3823	176	53	liquidity	liquidity	NOUN
fsr-3823	176	54	.	.	PUNCT
fsr-3823	177	1	the	the	DET
fsr-3823	177	2	proxies	proxy	NOUN
fsr-3823	177	3	do	do	AUX
fsr-3823	177	4	not	not	PART
fsr-3823	177	5	perfectly	perfectly	ADV
fsr-3823	177	6	represent	represent	VERB
fsr-3823	177	7	the	the	DET
fsr-3823	177	8	universe	universe	NOUN
fsr-3823	177	9	of	of	ADP
fsr-3823	177	10	general	general	ADJ
fsr-3823	177	11	account	account	NOUN
fsr-3823	177	12	investments	investment	NOUN
fsr-3823	177	13	or	or	CCONJ
fsr-3823	177	14	even	even	ADV
fsr-3823	177	15	those	those	PRON
fsr-3823	177	16	of	of	ADP
fsr-3823	177	17	a	a	DET
fsr-3823	177	18	specific	specific	ADJ
fsr-3823	177	19	insurer	insurer	NOUN
fsr-3823	177	20	:	:	PUNCT
fsr-3823	177	21	actual	actual	ADJ
fsr-3823	177	22	maturities	maturity	NOUN
fsr-3823	177	23	and	and	CCONJ
fsr-3823	177	24	grades	grade	NOUN
fsr-3823	177	25	of	of	ADP
fsr-3823	177	26	bonds	bond	NOUN
fsr-3823	177	27	differ	differ	VERB
fsr-3823	177	28	somewhat	somewhat	ADV
fsr-3823	177	29	from	from	ADP
fsr-3823	177	30	those	those	PRON
fsr-3823	177	31	reflected	reflect	VERB
fsr-3823	177	32	in	in	ADP
fsr-3823	177	33	the	the	DET
fsr-3823	177	34	lehman	lehman	PROPN
fsr-3823	177	35	brothers	brother	NOUN
fsr-3823	177	36	indexes	index	NOUN
fsr-3823	177	37	;	;	PUNCT
fsr-3823	177	38	the	the	DET
fsr-3823	177	39	typical	typical	ADJ
fsr-3823	177	40	universal	universal	ADJ
fsr-3823	177	41	life	life	NOUN
fsr-3823	177	42	insurer	insurer	NOUN
fsr-3823	177	43	may	may	AUX
fsr-3823	177	44	hold	hold	VERB
fsr-3823	177	45	shorter	short	ADJ
fsr-3823	177	46	average	average	ADJ
fsr-3823	177	47	maturities	maturity	NOUN
fsr-3823	177	48	than	than	ADP
fsr-3823	177	49	the	the	DET
fsr-3823	177	50	universe	universe	NOUN
fsr-3823	177	51	of	of	ADP
fsr-3823	177	52	insurers	insurer	NOUN
fsr-3823	177	53	represented	represent	VERB
fsr-3823	177	54	in	in	ADP
fsr-3823	177	55	acli	acli	ADJ
fsr-3823	177	56	data	datum	NOUN
fsr-3823	177	57	;	;	PUNCT
fsr-3823	177	58	net	net	ADJ
fsr-3823	177	59	returns	return	NOUN
fsr-3823	177	60	on	on	ADP
fsr-3823	177	61	policy	policy	NOUN
fsr-3823	177	62	loans	loan	NOUN
fsr-3823	177	63	may	may	AUX
fsr-3823	177	64	exceed	exceed	VERB
fsr-3823	177	65	those	those	PRON
fsr-3823	177	66	on	on	ADP
fsr-3823	177	67	90	90	NUM
fsr-3823	177	68	-	-	PUNCT
fsr-3823	177	69	day	day	NOUN
fsr-3823	177	70	treasury	treasury	NOUN
fsr-3823	177	71	bills	bill	NOUN
fsr-3823	177	72	now	now	ADV
fsr-3823	177	73	that	that	SCONJ
fsr-3823	177	74	some	some	DET
fsr-3823	177	75	policy	policy	NOUN
fsr-3823	177	76	loan	loan	NOUN
fsr-3823	177	77	rates	rate	NOUN
fsr-3823	177	78	are	be	AUX
fsr-3823	177	79	tied	tie	VERB
fsr-3823	177	80	to	to	ADP
fsr-3823	177	81	an	an	DET
fsr-3823	177	82	index	index	NOUN
fsr-3823	177	83	of	of	ADP
fsr-3823	177	84	seasoned	seasoned	ADJ
fsr-3823	177	85	corporate	corporate	ADJ
fsr-3823	177	86	bonds	bond	NOUN
fsr-3823	177	87	and	and	CCONJ
fsr-3823	177	88	some	some	DET
fsr-3823	177	89	others	other	NOUN
fsr-3823	177	90	are	be	AUX
fsr-3823	177	91	set	set	VERB
fsr-3823	177	92	at	at	ADP
fsr-3823	177	93	8	8	NUM
fsr-3823	177	94	per	per	ADP
fsr-3823	177	95	cent	cent	NOUN
fsr-3823	177	96	;	;	PUNCT
fsr-3823	177	97	a	a	DET
fsr-3823	177	98	small	small	ADJ
fsr-3823	177	99	percentage	percentage	NOUN
fsr-3823	177	100	of	of	ADP
fsr-3823	177	101	mortgage	mortgage	NOUN
fsr-3823	177	102	investments	investment	NOUN
fsr-3823	177	103	is	be	AUX
fsr-3823	177	104	not	not	PART
fsr-3823	177	105	business	business	NOUN
fsr-3823	177	106	related	relate	VERB
fsr-3823	177	107	;	;	PUNCT
fsr-3823	177	108	the	the	DET
fsr-3823	177	109	portion	portion	NOUN
fsr-3823	177	110	of	of	ADP
fsr-3823	177	111	mortgages	mortgage	NOUN
fsr-3823	177	112	without	without	ADP
fsr-3823	177	113	participation	participation	NOUN
fsr-3823	177	114	provisions	provision	NOUN
fsr-3823	177	115	may	may	AUX
fsr-3823	177	116	be	be	AUX
fsr-3823	177	117	more	more	ADV
fsr-3823	177	118	similar	similar	ADJ
fsr-3823	177	119	to	to	ADP
fsr-3823	177	120	bonds	bond	NOUN
fsr-3823	177	121	than	than	ADP
fsr-3823	177	122	to	to	ADP
fsr-3823	177	123	the	the	DET
fsr-3823	177	124	com	com	NOUN
fsr-3823	177	125	mercial	mercial	NOUN
fsr-3823	177	126	real	real	ADJ
fsr-3823	177	127	estate	estate	NOUN
fsr-3823	177	128	proxy	proxy	NOUN
fsr-3823	177	129	;	;	PUNCT
fsr-3823	177	130	and	and	CCONJ
fsr-3823	177	131	so	so	ADV
fsr-3823	177	132	forth	forth	ADV
fsr-3823	177	133	.	.	PUNCT
fsr-3823	178	1	the	the	DET
fsr-3823	178	2	purpose	purpose	NOUN
fsr-3823	178	3	in	in	ADP
fsr-3823	178	4	this	this	DET
fsr-3823	178	5	study	study	NOUN
fsr-3823	178	6	is	be	AUX
fsr-3823	178	7	to	to	PART
fsr-3823	178	8	demonstrate	demonstrate	VERB
fsr-3823	178	9	a	a	DET
fsr-3823	178	10	tech	tech	NOUN
fsr-3823	178	11	nique	nique	NOUN
fsr-3823	178	12	for	for	ADP
fsr-3823	178	13	projecting	project	VERB
fsr-3823	178	14	returns	return	NOUN
fsr-3823	178	15	rather	rather	ADV
fsr-3823	178	16	than	than	ADP
fsr-3823	178	17	perfectly	perfectly	ADV
fsr-3823	178	18	reproducing	reproduce	VERB
fsr-3823	178	19	the	the	DET
fsr-3823	178	20	history	history	NOUN
fsr-3823	178	21	of	of	ADP
fsr-3823	178	22	actual	actual	ADJ
fsr-3823	178	23	industry	industry	NOUN
fsr-3823	178	24	holdings	holding	NOUN
fsr-3823	178	25	.	.	PUNCT
fsr-3823	179	1	thus	thus	ADV
fsr-3823	179	2	,	,	PUNCT
fsr-3823	179	3	some	some	DET
fsr-3823	179	4	weakness	weakness	NOUN
fsr-3823	179	5	in	in	ADP
fsr-3823	179	6	the	the	DET
fsr-3823	179	7	proxies	proxy	NOUN
fsr-3823	179	8	is	be	AUX
fsr-3823	179	9	of	of	ADP
fsr-3823	179	10	little	little	ADJ
fsr-3823	179	11	concern	concern	NOUN
fsr-3823	179	12	.	.	PUNCT
fsr-3823	180	1	the	the	DET
fsr-3823	180	2	preferred	prefer	VERB
fsr-3823	180	3	data	data	NOUN
fsr-3823	180	4	inputs	input	NOUN
fsr-3823	180	5	for	for	ADP
fsr-3823	180	6	a	a	DET
fsr-3823	180	7	particular	particular	ADJ
fsr-3823	180	8	insurer	insurer	NOUN
fsr-3823	180	9	using	use	VERB
fsr-3823	180	10	the	the	DET
fsr-3823	180	11	technique	technique	NOUN
fsr-3823	180	12	would	would	AUX
fsr-3823	180	13	come	come	VERB
fsr-3823	180	14	from	from	ADP
fsr-3823	180	15	its	its	PRON
fsr-3823	180	16	own	own	ADJ
fsr-3823	180	17	portfolio	portfolio	NOUN
fsr-3823	180	18	.	.	PUNCT
fsr-3823	181	1	projections	projection	NOUN
fsr-3823	181	2	for	for	ADP
fsr-3823	181	3	the	the	DET
fsr-3823	181	4	hypothetical	hypothetical	ADJ
fsr-3823	181	5	general	general	ADJ
fsr-3823	181	6	account	account	NOUN
fsr-3823	181	7	have	have	VERB
fsr-3823	181	8	a	a	DET
fsr-3823	181	9	50th	50th	ADJ
fsr-3823	181	10	percentile	percentile	NOUN
fsr-3823	181	11	(	(	PUNCT
fsr-3823	181	12	median	median	ADJ
fsr-3823	181	13	)	)	PUNCT
fsr-3823	181	14	current	current	ADJ
fsr-3823	181	15	return	return	NOUN
fsr-3823	181	16	of	of	ADP
fsr-3823	181	17	7.20	7.20	NUM
fsr-3823	181	18	percent	percent	NOUN
fsr-3823	181	19	and	and	CCONJ
fsr-3823	181	20	a	a	DET
fsr-3823	181	21	standard	standard	ADJ
fsr-3823	181	22	deviation	deviation	NOUN
fsr-3823	181	23	of	of	ADP
fsr-3823	181	24	6.85	6.85	NUM
fsr-3823	181	25	.	.	PUNCT
fsr-3823	182	1	by	by	ADP
fsr-3823	182	2	the	the	DET
fsr-3823	182	3	fifth	fifth	ADJ
fsr-3823	182	4	year	year	NOUN
fsr-3823	182	5	the	the	DET
fsr-3823	182	6	median	median	ADJ
fsr-3823	182	7	value	value	NOUN
fsr-3823	182	8	decreases	decrease	VERB
fsr-3823	182	9	to	to	ADP
fsr-3823	182	10	7.03	7.03	NUM
fsr-3823	182	11	percent	percent	NOUN
fsr-3823	182	12	and	and	CCONJ
fsr-3823	182	13	levels	level	NOUN
fsr-3823	182	14	off	off	ADP
fsr-3823	182	15	at	at	ADP
fsr-3823	182	16	4.99	4.99	NUM
fsr-3823	182	17	percent	percent	NOUN
fsr-3823	182	18	sometime	sometime	ADV
fsr-3823	182	19	between	between	ADP
fsr-3823	182	20	years	year	NOUN
fsr-3823	182	21	20	20	NUM
fsr-3823	182	22	and	and	CCONJ
fsr-3823	182	23	30	30	NUM
fsr-3823	182	24	as	as	SCONJ
fsr-3823	182	25	current	current	ADJ
fsr-3823	182	26	returns	return	NOUN
fsr-3823	182	27	(	(	PUNCT
fsr-3823	182	28	1994	1994	NUM
fsr-3823	182	29	in	in	ADP
fsr-3823	182	30	this	this	DET
fsr-3823	182	31	simulation	simulation	NOUN
fsr-3823	182	32	)	)	PUNCT
fsr-3823	182	33	have	have	VERB
fsr-3823	182	34	less	less	ADV
fsr-3823	182	35	influ	influ	ADJ
fsr-3823	182	36	ence	ence	NOUN
fsr-3823	182	37	on	on	ADP
fsr-3823	182	38	projected	project	VERB
fsr-3823	182	39	rates	rate	NOUN
fsr-3823	182	40	over	over	ADP
fsr-3823	182	41	time	time	NOUN
fsr-3823	182	42	.	.	PUNCT
fsr-3823	183	1	at	at	ADP
fsr-3823	183	2	the	the	DET
fsr-3823	183	3	90	90	NUM
fsr-3823	183	4	percent	percent	NOUN
fsr-3823	183	5	confidence	confidence	NOUN
fsr-3823	183	6	level	level	NOUN
fsr-3823	183	7	,	,	PUNCT
fsr-3823	183	8	possible	possible	ADJ
fsr-3823	183	9	first	first	ADJ
fsr-3823	183	10	year	year	NOUN
fsr-3823	183	11	returns	return	NOUN
fsr-3823	183	12	range	range	VERB
fsr-3823	183	13	between	between	ADP
fsr-3823	183	14	-3.69	-3.69	NUM
fsr-3823	183	15	percent	percent	NOUN
fsr-3823	183	16	and	and	CCONJ
fsr-3823	183	17	18.84	18.84	NUM
fsr-3823	183	18	percent	percent	NOUN
fsr-3823	183	19	,	,	PUNCT
fsr-3823	183	20	while	while	SCONJ
fsr-3823	183	21	fifth	fifth	ADJ
fsr-3823	183	22	year	year	NOUN
fsr-3823	183	23	returns	return	NOUN
fsr-3823	183	24	range	range	VERB
fsr-3823	183	25	between	between	ADP
fsr-3823	183	26	2.07	2.07	NUM
fsr-3823	183	27	percent	percent	NOUN
fsr-3823	183	28	and	and	CCONJ
fsr-3823	183	29	12.13	12.13	NUM
fsr-3823	183	30	percent	percent	NOUN
fsr-3823	183	31	.	.	PUNCT
fsr-3823	184	1	the	the	DET
fsr-3823	184	2	fifth	fifth	ADJ
fsr-3823	184	3	percentile	percentile	ADJ
fsr-3823	184	4	returns	return	NOUN
fsr-3823	184	5	of	of	ADP
fsr-3823	184	6	-3.69	-3.69	NUM
fsr-3823	184	7	and	and	CCONJ
fsr-3823	184	8	2.07	2.07	NUM
fsr-3823	184	9	percent	percent	NOUN
fsr-3823	184	10	should	should	AUX
fsr-3823	184	11	be	be	AUX
fsr-3823	184	12	of	of	ADP
fsr-3823	184	13	concern	concern	NOUN
fsr-3823	184	14	to	to	ADP
fsr-3823	184	15	insurers	insurer	NOUN
fsr-3823	184	16	,	,	PUNCT
fsr-3823	184	17	however	however	ADV
fsr-3823	184	18	,	,	PUNCT
fsr-3823	184	19	consumers	consumer	NOUN
fsr-3823	184	20	would	would	AUX
fsr-3823	184	21	be	be	AUX
fsr-3823	184	22	protected	protect	VERB
fsr-3823	184	23	from	from	ADP
fsr-3823	184	24	actual	actual	ADJ
fsr-3823	184	25	performance	performance	NOUN
fsr-3823	184	26	below	below	ADP
fsr-3823	184	27	contractual	contractual	ADJ
fsr-3823	184	28	guaranteed	guarantee	VERB
fsr-3823	184	29	minimum	minimum	ADJ
fsr-3823	184	30	returns	return	NOUN
fsr-3823	184	31	(	(	PUNCT
fsr-3823	184	32	e.g.	e.g.	ADV
fsr-3823	184	33	,	,	PUNCT
fsr-3823	184	34	4.5	4.5	NUM
fsr-3823	184	35	per	per	ADP
fsr-3823	184	36	cent	cent	NOUN
fsr-3823	184	37	)	)	PUNCT
fsr-3823	184	38	.	.	PUNCT
fsr-3823	185	1	for	for	ADP
fsr-3823	185	2	a	a	DET
fsr-3823	185	3	50	50	NUM
fsr-3823	185	4	-	-	PUNCT
fsr-3823	185	5	year	year	NOUN
fsr-3823	185	6	policy	policy	NOUN
fsr-3823	185	7	holding	holding	NOUN
fsr-3823	185	8	period	period	NOUN
fsr-3823	185	9	and	and	CCONJ
fsr-3823	185	10	a	a	DET
fsr-3823	185	11	90	90	NUM
fsr-3823	185	12	percent	percent	NOUN
fsr-3823	185	13	confidence	confidence	NOUN
fsr-3823	185	14	level	level	NOUN
fsr-3823	185	15	,	,	PUNCT
fsr-3823	185	16	the	the	DET
fsr-3823	185	17	median	median	NOUN
fsr-3823	185	18	of	of	ADP
fsr-3823	185	19	6.99	6.99	NUM
fsr-3823	185	20	percent	percent	NOUN
fsr-3823	185	21	is	be	AUX
fsr-3823	185	22	bordered	border	VERB
fsr-3823	185	23	by	by	ADP
fsr-3823	185	24	5.41	5.41	NUM
fsr-3823	185	25	and	and	CCONJ
fsr-3823	185	26	8.59	8.59	NUM
fsr-3823	185	27	percent	percent	NOUN
fsr-3823	185	28	.	.	PUNCT
fsr-3823	186	1	these	these	DET
fsr-3823	186	2	results	result	NOUN
fsr-3823	186	3	are	be	AUX
fsr-3823	186	4	shown	show	VERB
fsr-3823	186	5	in	in	ADP
fsr-3823	186	6	table	table	NOUN
fsr-3823	186	7	2	2	NUM
fsr-3823	186	8	and	and	CCONJ
fsr-3823	186	9	figure	figure	NOUN
fsr-3823	186	10	2	2	NUM
fsr-3823	186	11	.	.	PUNCT
fsr-3823	187	1	the	the	DET
fsr-3823	187	2	“	"	PUNCT
fsr-3823	187	3	trumpet	trumpet	NOUN
fsr-3823	187	4	graph	graph	NOUN
fsr-3823	187	5	’	'	PUNCT
fsr-3823	187	6	(	(	PUNCT
fsr-3823	187	7	see	see	VERB
fsr-3823	187	8	figure	figure	NOUN
fsr-3823	187	9	2	2	NUM
fsr-3823	187	10	)	)	PUNCT
fsr-3823	187	11	illustrates	illustrate	VERB
fsr-3823	187	12	the	the	DET
fsr-3823	187	13	rather	rather	ADV
fsr-3823	187	14	rapid	rapid	ADJ
fsr-3823	187	15	convergence	convergence	NOUN
fsr-3823	187	16	of	of	ADP
fsr-3823	187	17	the	the	DET
fsr-3823	187	18	per	per	X
fsr-3823	187	19	centile	centile	ADJ
fsr-3823	187	20	projections	projection	NOUN
fsr-3823	187	21	towards	towards	ADP
fsr-3823	187	22	the	the	DET
fsr-3823	187	23	median	median	ADJ
fsr-3823	187	24	return	return	NOUN
fsr-3823	187	25	over	over	ADP
fsr-3823	187	26	time	time	NOUN
fsr-3823	187	27	.	.	PUNCT
fsr-3823	188	1	at	at	ADP
fsr-3823	188	2	any	any	DET
fsr-3823	188	3	selected	select	VERB
fsr-3823	188	4	confidence	confidence	NOUN
fsr-3823	188	5	level	level	NOUN
fsr-3823	188	6	,	,	PUNCT
fsr-3823	188	7	the	the	DET
fsr-3823	188	8	relationship	relationship	NOUN
fsr-3823	188	9	between	between	ADP
fsr-3823	188	10	the	the	DET
fsr-3823	188	11	maximum	maximum	ADJ
fsr-3823	188	12	long	long	ADV
fsr-3823	188	13	-	-	PUNCT
fsr-3823	188	14	run	run	NOUN
fsr-3823	188	15	return	return	NOUN
fsr-3823	188	16	and	and	CCONJ
fsr-3823	188	17	the	the	DET
fsr-3823	188	18	median	median	ADJ
fsr-3823	188	19	return	return	NOUN
fsr-3823	188	20	declines	decline	VERB
fsr-3823	188	21	over	over	ADP
fsr-3823	188	22	time	time	NOUN
fsr-3823	188	23	.	.	PUNCT
fsr-3823	189	1	contrarily	contrarily	ADV
fsr-3823	189	2	,	,	PUNCT
fsr-3823	189	3	the	the	DET
fsr-3823	189	4	relationship	relationship	NOUN
fsr-3823	189	5	between	between	ADP
fsr-3823	189	6	the	the	DET
fsr-3823	189	7	lower	low	ADJ
fsr-3823	189	8	value	value	NOUN
fsr-3823	189	9	and	and	CCONJ
fsr-3823	189	10	the	the	DET
fsr-3823	189	11	median	median	NOUN
fsr-3823	189	12	is	be	AUX
fsr-3823	189	13	positive	positive	ADJ
fsr-3823	189	14	over	over	ADP
fsr-3823	189	15	time	time	NOUN
fsr-3823	189	16	.	.	PUNCT
fsr-3823	190	1	vi	vi	X
fsr-3823	190	2	.	.	NOUN
fsr-3823	190	3	discussion	discussion	NOUN
fsr-3823	190	4	and	and	CCONJ
fsr-3823	190	5	conclusions	conclusion	NOUN
fsr-3823	190	6	the	the	DET
fsr-3823	190	7	u.s	u.s	PROPN
fsr-3823	190	8	.	.	PROPN
fsr-3823	190	9	life	life	NOUN
fsr-3823	190	10	insurance	insurance	NOUN
fsr-3823	190	11	industry	industry	NOUN
fsr-3823	190	12	has	have	AUX
fsr-3823	190	13	for	for	ADP
fsr-3823	190	14	many	many	ADJ
fsr-3823	190	15	years	year	NOUN
fsr-3823	190	16	provided	provide	VERB
fsr-3823	190	17	sales	sale	NOUN
fsr-3823	190	18	illustrations	illustration	NOUN
fsr-3823	190	19	to	to	PART
fsr-3823	190	20	prospec	prospec	VERB
fsr-3823	190	21	tive	tive	PROPN
fsr-3823	190	22	buyers	buyer	NOUN
fsr-3823	190	23	that	that	PRON
fsr-3823	190	24	project	project	VERB
fsr-3823	190	25	maximum	maximum	ADJ
fsr-3823	190	26	cash	cash	NOUN
fsr-3823	190	27	values	value	NOUN
fsr-3823	190	28	using	use	VERB
fsr-3823	190	29	current	current	ADJ
fsr-3823	190	30	experience	experience	NOUN
fsr-3823	190	31	with	with	ADP
fsr-3823	190	32	respect	respect	NOUN
fsr-3823	190	33	to	to	ADP
fsr-3823	190	34	investment	investment	NOUN
fsr-3823	190	35	returns	return	NOUN
fsr-3823	190	36	.	.	PUNCT
fsr-3823	191	1	the	the	DET
fsr-3823	191	2	majority	majority	NOUN
fsr-3823	191	3	of	of	ADP
fsr-3823	191	4	insurers	insurer	NOUN
fsr-3823	191	5	use	use	VERB
fsr-3823	191	6	an	an	DET
fsr-3823	191	7	average	average	ADJ
fsr-3823	191	8	portfolio	portfolio	NOUN
fsr-3823	191	9	rate	rate	NOUN
fsr-3823	191	10	of	of	ADP
fsr-3823	191	11	return	return	NOUN
fsr-3823	191	12	as	as	ADP
fsr-3823	191	13	a	a	DET
fsr-3823	191	14	crediting	crediting	NOUN
fsr-3823	191	15	rate	rate	NOUN
fsr-3823	191	16	(	(	PUNCT
fsr-3823	191	17	minus	minus	ADP
fsr-3823	191	18	a	a	DET
fsr-3823	191	19	spread	spread	NOUN
fsr-3823	191	20	for	for	ADP
fsr-3823	191	21	profit	profit	NOUN
fsr-3823	191	22	)	)	PUNCT
fsr-3823	191	23	or	or	CCONJ
fsr-3823	191	24	in	in	ADP
fsr-3823	191	25	dividend	dividend	NOUN
fsr-3823	191	26	scale	scale	NOUN
fsr-3823	191	27	dete	dete	NOUN
fsr-3823	191	28	~	~	NOUN
fsr-3823	191	29	inations	ination	NOUN
fsr-3823	191	30	.	.	PUNCT
fsr-3823	192	1	conse	conse	NOUN
fsr-3823	192	2	quently	quently	ADV
fsr-3823	192	3	,	,	PUNCT
fsr-3823	192	4	for	for	ADP
fsr-3823	192	5	insurers	insurer	NOUN
fsr-3823	192	6	with	with	ADP
fsr-3823	192	7	a	a	DET
fsr-3823	192	8	relatively	relatively	ADV
fsr-3823	192	9	long	long	ADJ
fsr-3823	192	10	average	average	ADJ
fsr-3823	192	11	maturity	maturity	NOUN
fsr-3823	192	12	for	for	ADP
fsr-3823	192	13	securities	security	NOUN
fsr-3823	192	14	,	,	PUNCT
fsr-3823	192	15	the	the	DET
fsr-3823	192	16	current	current	ADJ
fsr-3823	192	17	return	return	NOUN
fsr-3823	192	18	may	may	AUX
fsr-3823	192	19	reasonably	reasonably	ADV
fsr-3823	192	20	represent	represent	VERB
fsr-3823	192	21	historical	historical	ADJ
fsr-3823	192	22	experience	experience	NOUN
fsr-3823	192	23	except	except	SCONJ
fsr-3823	192	24	in	in	ADP
fsr-3823	192	25	periods	period	NOUN
fsr-3823	192	26	of	of	ADP
fsr-3823	192	27	extreme	extreme	ADJ
fsr-3823	192	28	abnor	abnor	NOUN
fsr-3823	192	29	mal	mal	ADJ
fsr-3823	192	30	returns	return	NOUN
fsr-3823	192	31	.	.	PUNCT
fsr-3823	193	1	in	in	ADP
fsr-3823	193	2	times	time	NOUN
fsr-3823	193	3	,	,	PUNCT
fsr-3823	193	4	such	such	ADJ
fsr-3823	193	5	as	as	ADP
fsr-3823	193	6	the	the	DET
fsr-3823	193	7	198os	198os	NOUN
fsr-3823	193	8	,	,	PUNCT
fsr-3823	193	9	with	with	ADP
fsr-3823	193	10	several	several	ADJ
fsr-3823	193	11	years	year	NOUN
fsr-3823	193	12	of	of	ADP
fsr-3823	193	13	historically	historically	ADV
fsr-3823	193	14	high	high	ADJ
fsr-3823	193	15	investment	investment	NOUN
fsr-3823	193	16	returns	return	NOUN
fsr-3823	193	17	,	,	PUNCT
fsr-3823	193	18	however	however	ADV
fsr-3823	193	19	,	,	PUNCT
fsr-3823	193	20	even	even	ADV
fsr-3823	193	21	the	the	DET
fsr-3823	193	22	average	average	ADJ
fsr-3823	193	23	portfolio	portfolio	NOUN
fsr-3823	193	24	rate	rate	NOUN
fsr-3823	193	25	can	can	AUX
fsr-3823	193	26	substantially	substantially	ADV
fsr-3823	193	27	exceed	exceed	VERB
fsr-3823	193	28	those	those	DET
fsr-3823	193	29	returns	return	NOUN
fsr-3823	193	30	that	that	PRON
fsr-3823	193	31	are	be	AUX
fsr-3823	193	32	likely	likely	ADJ
fsr-3823	193	33	to	to	PART
fsr-3823	193	34	be	be	AUX
fsr-3823	193	35	attainable	attainable	ADJ
fsr-3823	193	36	in	in	ADP
fsr-3823	193	37	the	the	DET
fsr-3823	193	38	long	long	ADJ
fsr-3823	193	39	run	run	NOUN
fsr-3823	193	40	.	.	PUNCT
fsr-3823	194	1	the	the	DET
fsr-3823	194	2	environment	environment	NOUN
fsr-3823	194	3	for	for	ADP
fsr-3823	194	4	this	this	DET
fsr-3823	194	5	situation	situation	NOUN
fsr-3823	194	6	is	be	AUX
fsr-3823	194	7	enhanced	enhance	VERB
fsr-3823	194	8	by	by	ADP
fsr-3823	194	9	strong	strong	ADJ
fsr-3823	194	10	sales	sale	NOUN
fsr-3823	194	11	producing	produce	VERB
fsr-3823	194	12	large	large	ADJ
fsr-3823	194	13	amounts	amount	NOUN
fsr-3823	194	14	of	of	ADP
fsr-3823	194	15	reserves	reserve	NOUN
fsr-3823	194	16	for	for	ADP
fsr-3823	194	17	relatively	relatively	ADV
fsr-3823	194	18	new	new	ADJ
fsr-3823	194	19	contracts	contract	NOUN
fsr-3823	194	20	,	,	PUNCT
fsr-3823	194	21	lapse	lapse	NOUN
fsr-3823	194	22	rates	rate	NOUN
fsr-3823	194	23	historical	historical	ADJ
fsr-3823	194	24	investment	investment	NOUN
fsr-3823	194	25	performance	performance	NOUN
fsr-3823	194	26	165	165	NUM
fsr-3823	194	27	reducing	reduce	VERB
fsr-3823	194	28	the	the	DET
fsr-3823	194	29	importance	importance	NOUN
fsr-3823	194	30	of	of	ADP
fsr-3823	194	31	older	old	ADJ
fsr-3823	194	32	reserves	reserve	NOUN
fsr-3823	194	33	,	,	PUNCT
fsr-3823	194	34	and	and	CCONJ
fsr-3823	194	35	turnover	turnover	NOUN
fsr-3823	194	36	of	of	ADP
fsr-3823	194	37	existing	exist	VERB
fsr-3823	194	38	investments	investment	NOUN
fsr-3823	194	39	.	.	PUNCT
fsr-3823	195	1	the	the	DET
fsr-3823	195	2	pos	pos	NOUN
fsr-3823	195	3	sibility	sibility	NOUN
fsr-3823	195	4	of	of	ADP
fsr-3823	195	5	current	current	ADJ
fsr-3823	195	6	returns	return	NOUN
fsr-3823	195	7	being	be	AUX
fsr-3823	195	8	out	out	ADP
fsr-3823	195	9	of	of	ADP
fsr-3823	195	10	synchronization	synchronization	NOUN
fsr-3823	195	11	with	with	ADP
fsr-3823	195	12	achievable	achievable	ADJ
fsr-3823	195	13	long	long	ADJ
fsr-3823	195	14	-	-	PUNCT
fsr-3823	195	15	run	run	NOUN
fsr-3823	195	16	returns	return	NOUN
fsr-3823	195	17	is	be	AUX
fsr-3823	195	18	greatly	greatly	ADV
fsr-3823	195	19	heightened	heighten	VERB
fsr-3823	195	20	by	by	ADP
fsr-3823	195	21	the	the	DET
fsr-3823	195	22	use	use	NOUN
fsr-3823	195	23	of	of	ADP
fsr-3823	195	24	the	the	DET
fsr-3823	195	25	investment	investment	NOUN
fsr-3823	195	26	generation	generation	NOUN
fsr-3823	195	27	method	method	NOUN
fsr-3823	195	28	of	of	ADP
fsr-3823	195	29	crediting	credit	VERB
fsr-3823	195	30	interest	interest	NOUN
fsr-3823	195	31	rates	rate	NOUN
fsr-3823	195	32	.	.	PUNCT
fsr-3823	196	1	yet	yet	CCONJ
fsr-3823	196	2	new	new	ADJ
fsr-3823	196	3	model	model	NOUN
fsr-3823	196	4	legislation	legislation	NOUN
fsr-3823	196	5	and	and	CCONJ
fsr-3823	196	6	actuarial	actuarial	ADJ
fsr-3823	196	7	standards	standard	NOUN
fsr-3823	196	8	fail	fail	VERB
fsr-3823	196	9	to	to	PART
fsr-3823	196	10	effectively	effectively	ADV
fsr-3823	196	11	solve	solve	VERB
fsr-3823	196	12	this	this	DET
fsr-3823	196	13	prob	prob	ADJ
fsr-3823	196	14	lem	lem	NOUN
fsr-3823	196	15	of	of	ADP
fsr-3823	196	16	potential	potential	ADJ
fsr-3823	196	17	misrepresentation	misrepresentation	NOUN
fsr-3823	196	18	.	.	PUNCT
fsr-3823	197	1	thus	thus	ADV
fsr-3823	197	2	,	,	PUNCT
fsr-3823	197	3	financial	financial	ADJ
fsr-3823	197	4	planners	planner	NOUN
fsr-3823	197	5	will	will	AUX
fsr-3823	197	6	continue	continue	VERB
fsr-3823	197	7	to	to	PART
fsr-3823	197	8	be	be	AUX
fsr-3823	197	9	challenged	challenge	VERB
fsr-3823	197	10	to	to	PART
fsr-3823	197	11	bring	bring	VERB
fsr-3823	197	12	reason	reason	NOUN
fsr-3823	197	13	to	to	ADP
fsr-3823	197	14	sales	sale	NOUN
fsr-3823	197	15	illustrations	illustration	NOUN
fsr-3823	197	16	.	.	PUNCT
fsr-3823	198	1	a	a	DET
fsr-3823	198	2	question	question	NOUN
fsr-3823	198	3	of	of	ADP
fsr-3823	198	4	concern	concern	NOUN
fsr-3823	198	5	relevant	relevant	ADJ
fsr-3823	198	6	to	to	ADP
fsr-3823	198	7	a	a	DET
fsr-3823	198	8	projection	projection	NOUN
fsr-3823	198	9	like	like	SCONJ
fsr-3823	198	10	that	that	PRON
fsr-3823	198	11	presented	present	VERB
fsr-3823	198	12	above	above	ADV
fsr-3823	198	13	and	and	CCONJ
fsr-3823	198	14	its	its	PRON
fsr-3823	198	15	possi	possi	ADJ
fsr-3823	198	16	ble	ble	ADJ
fsr-3823	198	17	use	use	NOUN
fsr-3823	198	18	in	in	ADP
fsr-3823	198	19	projecting	project	VERB
fsr-3823	198	20	cash	cash	NOUN
fsr-3823	198	21	values	value	NOUN
fsr-3823	198	22	is	be	AUX
fsr-3823	198	23	:	:	PUNCT
fsr-3823	198	24	what	what	PRON
fsr-3823	198	25	would	would	AUX
fsr-3823	198	26	be	be	AUX
fsr-3823	198	27	the	the	DET
fsr-3823	198	28	proper	proper	ADJ
fsr-3823	198	29	time	time	NOUN
fsr-3823	198	30	period	period	NOUN
fsr-3823	198	31	to	to	PART
fsr-3823	198	32	identify	identify	VERB
fsr-3823	198	33	the	the	PRON
fsr-3823	198	34	and	and	CCONJ
fsr-3823	198	35	range	range	VERB
fsr-3823	198	36	mid	mid	NOUN
fsr-3823	198	37	-	-	NOUN
fsr-3823	198	38	point	point	NOUN
fsr-3823	198	39	?	?	PUNCT
fsr-3823	199	1	one	one	NUM
fsr-3823	199	2	approach	approach	NOUN
fsr-3823	199	3	is	be	AUX
fsr-3823	199	4	for	for	SCONJ
fsr-3823	199	5	the	the	DET
fsr-3823	199	6	planner	planner	NOUN
fsr-3823	199	7	to	to	PART
fsr-3823	199	8	ask	ask	VERB
fsr-3823	199	9	the	the	DET
fsr-3823	199	10	client	client	NOUN
fsr-3823	199	11	how	how	SCONJ
fsr-3823	199	12	long	long	ADV
fsr-3823	199	13	he	he	PRON
fsr-3823	199	14	or	or	CCONJ
fsr-3823	199	15	she	she	PRON
fsr-3823	199	16	expects	expect	VERB
fsr-3823	199	17	to	to	PART
fsr-3823	199	18	hold	hold	VERB
fsr-3823	199	19	the	the	DET
fsr-3823	199	20	policy	policy	NOUN
fsr-3823	199	21	being	be	AUX
fsr-3823	199	22	considered	consider	VERB
fsr-3823	199	23	,	,	PUNCT
fsr-3823	199	24	ignoring	ignore	VERB
fsr-3823	199	25	the	the	DET
fsr-3823	199	26	possibility	possibility	NOUN
fsr-3823	199	27	of	of	ADP
fsr-3823	199	28	premature	premature	ADJ
fsr-3823	199	29	death	death	NOUN
fsr-3823	199	30	.	.	PUNCT
fsr-3823	200	1	a	a	DET
fsr-3823	200	2	conservative	conservative	ADJ
fsr-3823	200	3	approach	approach	NOUN
fsr-3823	200	4	would	would	AUX
fsr-3823	200	5	specify	specify	VERB
fsr-3823	200	6	the	the	DET
fsr-3823	200	7	difference	difference	NOUN
fsr-3823	200	8	between	between	ADP
fsr-3823	200	9	an	an	DET
fsr-3823	200	10	advanced	advanced	ADJ
fsr-3823	200	11	age	age	NOUN
fsr-3823	200	12	such	such	ADJ
fsr-3823	200	13	as	as	ADP
fsr-3823	200	14	the	the	DET
fsr-3823	200	15	client	client	NOUN
fsr-3823	200	16	’s	’s	PART
fsr-3823	200	17	life	life	NOUN
fsr-3823	200	18	expectancy	expectancy	NOUN
fsr-3823	200	19	or	or	CCONJ
fsr-3823	200	20	age	age	NOUN
fsr-3823	200	21	100	100	NUM
fsr-3823	200	22	and	and	CCONJ
fsr-3823	200	23	the	the	DET
fsr-3823	200	24	client	client	NOUN
fsr-3823	200	25	’s	’s	PART
fsr-3823	200	26	age	age	NOUN
fsr-3823	200	27	at	at	ADP
fsr-3823	200	28	the	the	DET
fsr-3823	200	29	time	time	NOUN
fsr-3823	200	30	of	of	ADP
fsr-3823	200	31	illustration	illustration	NOUN
fsr-3823	200	32	(	(	PUNCT
fsr-3823	200	33	e.g.	e.g.	ADV
fsr-3823	200	34	,	,	PUNCT
fsr-3823	200	35	age	age	NOUN
fsr-3823	200	36	80	80	NUM
fsr-3823	200	37	minus	minus	NOUN
fsr-3823	200	38	illustration	illustration	NOUN
fsr-3823	200	39	age	age	NOUN
fsr-3823	200	40	30	30	NUM
fsr-3823	200	41	equals	equal	VERB
fsr-3823	200	42	a	a	DET
fsr-3823	200	43	50	50	NUM
fsr-3823	200	44	-	-	PUNCT
fsr-3823	200	45	year	year	NOUN
fsr-3823	200	46	projection	projection	NOUN
fsr-3823	200	47	)	)	PUNCT
fsr-3823	200	48	.	.	PUNCT
fsr-3823	201	1	given	give	VERB
fsr-3823	201	2	the	the	DET
fsr-3823	201	3	projection	projection	NOUN
fsr-3823	201	4	in	in	ADP
fsr-3823	201	5	this	this	DET
fsr-3823	201	6	study	study	NOUN
fsr-3823	201	7	,	,	PUNCT
fsr-3823	201	8	the	the	DET
fsr-3823	201	9	issue	issue	NOUN
fsr-3823	201	10	becomes	become	VERB
fsr-3823	201	11	academic	academic	ADJ
fsr-3823	201	12	for	for	ADP
fsr-3823	201	13	periods	period	NOUN
fsr-3823	201	14	beyond	beyond	ADP
fsr-3823	201	15	20	20	NUM
fsr-3823	201	16	years	year	NOUN
fsr-3823	201	17	or	or	CCONJ
fsr-3823	201	18	so	so	ADV
fsr-3823	201	19	because	because	SCONJ
fsr-3823	201	20	over	over	ADP
fsr-3823	201	21	90	90	NUM
fsr-3823	201	22	percent	percent	NOUN
fsr-3823	201	23	of	of	ADP
fsr-3823	201	24	the	the	DET
fsr-3823	201	25	reduction	reduction	NOUN
fsr-3823	201	26	in	in	ADP
fsr-3823	201	27	maximum	maximum	ADJ
fsr-3823	201	28	values	value	NOUN
fsr-3823	201	29	occurs	occur	VERB
fsr-3823	201	30	by	by	ADP
fsr-3823	201	31	the	the	DET
fsr-3823	201	32	20fh	20fh	ADJ
fsr-3823	201	33	year	year	NOUN
fsr-3823	201	34	.	.	PUNCT
fsr-3823	202	1	one	one	PRON
fsr-3823	202	2	could	could	AUX
fsr-3823	202	3	argue	argue	VERB
fsr-3823	202	4	that	that	SCONJ
fsr-3823	202	5	the	the	DET
fsr-3823	202	6	prob	prob	NOUN
fsr-3823	202	7	lems	lem	VERB
fsr-3823	202	8	in	in	ADP
fsr-3823	202	9	making	make	VERB
fsr-3823	202	10	forecasts	forecast	NOUN
fsr-3823	202	11	of	of	ADP
fsr-3823	202	12	investment	investment	NOUN
fsr-3823	202	13	returns	return	NOUN
fsr-3823	202	14	are	be	AUX
fsr-3823	202	15	such	such	ADJ
fsr-3823	202	16	that	that	SCONJ
fsr-3823	202	17	projected	project	VERB
fsr-3823	202	18	values	value	NOUN
fsr-3823	202	19	at	at	ADP
fsr-3823	202	20	some	some	DET
fsr-3823	202	21	dis	dis	PROPN
fsr-3823	202	22	tant	tant	NOUN
fsr-3823	202	23	point	point	NOUN
fsr-3823	202	24	(	(	PUNCT
fsr-3823	202	25	i.e.	i.e.	X
fsr-3823	202	26	,	,	PUNCT
fsr-3823	202	27	beyond	beyond	ADP
fsr-3823	202	28	20	20	NUM
fsr-3823	202	29	years	year	NOUN
fsr-3823	202	30	)	)	PUNCT
fsr-3823	202	31	lack	lack	VERB
fsr-3823	202	32	sufficient	sufficient	ADJ
fsr-3823	202	33	validity	validity	NOUN
fsr-3823	202	34	.	.	PUNCT
fsr-3823	203	1	further	far	ADV
fsr-3823	203	2	,	,	PUNCT
fsr-3823	203	3	most	most	ADJ
fsr-3823	203	4	cash	cash	NOUN
fsr-3823	203	5	value	value	NOUN
fsr-3823	203	6	policies	policy	NOUN
fsr-3823	203	7	mature	mature	VERB
fsr-3823	203	8	through	through	ADP
fsr-3823	203	9	surrender	surrender	NOUN
fsr-3823	203	10	or	or	CCONJ
fsr-3823	203	11	death	death	NOUN
fsr-3823	203	12	long	long	ADV
fsr-3823	203	13	before	before	ADP
fsr-3823	203	14	life	life	NOUN
fsr-3823	203	15	expectancy	expectancy	NOUN
fsr-3823	203	16	for	for	ADP
fsr-3823	203	17	the	the	DET
fsr-3823	203	18	typical	typical	ADJ
fsr-3823	203	19	consumer	consumer	NOUN
fsr-3823	203	20	.	.	PUNCT
fsr-3823	204	1	recent	recent	ADJ
fsr-3823	204	2	life	life	NOUN
fsr-3823	204	3	insurance	insurance	NOUN
fsr-3823	204	4	marketing	marketing	NOUN
fsr-3823	204	5	research	research	NOUN
fsr-3823	204	6	association	association	NOUN
fsr-3823	204	7	data	datum	NOUN
fsr-3823	204	8	show	show	VERB
fsr-3823	204	9	that	that	SCONJ
fsr-3823	204	10	the	the	DET
fsr-3823	204	11	expected	expect	VERB
fsr-3823	204	12	life	life	NOUN
fsr-3823	204	13	of	of	ADP
fsr-3823	204	14	a	a	DET
fsr-3823	204	15	whole	whole	ADJ
fsr-3823	204	16	life	life	NOUN
fsr-3823	204	17	policy	policy	NOUN
fsr-3823	204	18	in	in	ADP
fsr-3823	204	19	the	the	DET
fsr-3823	204	20	u.s	u.s	PROPN
fsr-3823	204	21	.	.	PROPN
fsr-3823	204	22	varies	vary	VERB
fsr-3823	204	23	between	between	ADP
fsr-3823	204	24	eight	eight	NUM
fsr-3823	204	25	and	and	CCONJ
fsr-3823	204	26	one	one	NUM
fsr-3823	204	27	-	-	PUNCT
fsr-3823	204	28	half	half	NOUN
fsr-3823	204	29	years	year	NOUN
fsr-3823	204	30	when	when	SCONJ
fsr-3823	204	31	issued	issue	VERB
fsr-3823	204	32	at	at	ADP
fsr-3823	204	33	age	age	NOUN
fsr-3823	204	34	25	25	NUM
fsr-3823	204	35	and	and	CCONJ
fsr-3823	204	36	12.9	12.9	NUM
fsr-3823	204	37	years	year	NOUN
fsr-3823	204	38	for	for	ADP
fsr-3823	204	39	age	age	NOUN
fsr-3823	204	40	55	55	NUM
fsr-3823	204	41	issues	issue	NOUN
fsr-3823	204	42	(	(	PUNCT
fsr-3823	204	43	potasky	potasky	NOUN
fsr-3823	204	44	et	et	PROPN
fsr-3823	204	45	al	al	PROPN
fsr-3823	204	46	.	.	PROPN
fsr-3823	204	47	,	,	PUNCT
fsr-3823	204	48	1992	1992	NUM
fsr-3823	204	49	)	)	PUNCT
fsr-3823	204	50	.	.	PUNCT
fsr-3823	205	1	another	another	DET
fsr-3823	205	2	issue	issue	NOUN
fsr-3823	205	3	surrounding	surround	VERB
fsr-3823	205	4	any	any	DET
fsr-3823	205	5	practical	practical	ADJ
fsr-3823	205	6	use	use	NOUN
fsr-3823	205	7	of	of	ADP
fsr-3823	205	8	projections	projection	NOUN
fsr-3823	205	9	based	base	VERB
fsr-3823	205	10	on	on	ADP
fsr-3823	205	11	the	the	DET
fsr-3823	205	12	methodology	methodology	NOUN
fsr-3823	205	13	employed	employ	VERB
fsr-3823	205	14	here	here	ADV
fsr-3823	205	15	concerns	concern	VERB
fsr-3823	205	16	the	the	DET
fsr-3823	205	17	proper	proper	ADJ
fsr-3823	205	18	statistical	statistical	ADJ
fsr-3823	205	19	confidence	confidence	NOUN
fsr-3823	205	20	level	level	NOUN
fsr-3823	205	21	at	at	ADP
fsr-3823	205	22	which	which	PRON
fsr-3823	205	23	to	to	PART
fsr-3823	205	24	identify	identify	VERB
fsr-3823	205	25	the	the	DET
fsr-3823	205	26	range	range	NOUN
fsr-3823	205	27	of	of	ADP
fsr-3823	205	28	investment	investment	NOUN
fsr-3823	205	29	rates	rate	NOUN
fsr-3823	205	30	of	of	ADP
fsr-3823	205	31	return	return	NOUN
fsr-3823	205	32	to	to	ADP
fsr-3823	205	33	use	use	NOUN
fsr-3823	205	34	in	in	ADP
fsr-3823	205	35	illustrating	illustrate	VERB
fsr-3823	205	36	cash	cash	NOUN
fsr-3823	205	37	values	value	NOUN
fsr-3823	205	38	.	.	PUNCT
fsr-3823	206	1	in	in	ADP
fsr-3823	206	2	this	this	DET
fsr-3823	206	3	article	article	NOUN
fsr-3823	206	4	the	the	DET
fsr-3823	206	5	pri	pri	PROPN
fsr-3823	206	6	mary	mary	PROPN
fsr-3823	206	7	discussion	discussion	NOUN
fsr-3823	206	8	has	have	AUX
fsr-3823	206	9	been	be	AUX
fsr-3823	206	10	about	about	ADP
fsr-3823	206	11	the	the	DET
fsr-3823	206	12	median	median	ADJ
fsr-3823	206	13	long	long	ADV
fsr-3823	206	14	-	-	PUNCT
fsr-3823	206	15	run	run	NOUN
fsr-3823	206	16	return	return	NOUN
fsr-3823	206	17	and	and	CCONJ
fsr-3823	206	18	90	90	NUM
fsr-3823	206	19	percent	percent	NOUN
fsr-3823	206	20	confidence	confidence	NOUN
fsr-3823	206	21	level	level	NOUN
fsr-3823	206	22	rates	rate	NOUN
fsr-3823	206	23	.	.	PUNCT
fsr-3823	207	1	on	on	ADP
fsr-3823	207	2	the	the	DET
fsr-3823	207	3	one	one	NUM
fsr-3823	207	4	hand	hand	NOUN
fsr-3823	207	5	,	,	PUNCT
fsr-3823	207	6	one	one	PRON
fsr-3823	207	7	can	can	AUX
fsr-3823	207	8	argue	argue	VERB
fsr-3823	207	9	that	that	SCONJ
fsr-3823	207	10	there	there	PRON
fsr-3823	207	11	is	be	VERB
fsr-3823	207	12	only	only	ADV
fsr-3823	207	13	a	a	DET
fsr-3823	207	14	10	10	NUM
fsr-3823	207	15	percent	percent	NOUN
fsr-3823	207	16	probability	probability	NOUN
fsr-3823	207	17	that	that	SCONJ
fsr-3823	207	18	long	long	ADJ
fsr-3823	207	19	run	run	NOUN
fsr-3823	207	20	rates	rate	NOUN
fsr-3823	207	21	of	of	ADP
fsr-3823	207	22	return	return	NOUN
fsr-3823	207	23	will	will	AUX
fsr-3823	207	24	be	be	AUX
fsr-3823	207	25	at	at	ADP
fsr-3823	207	26	either	either	CCONJ
fsr-3823	207	27	the	the	DET
fsr-3823	207	28	maximum	maximum	ADJ
fsr-3823	207	29	or	or	CCONJ
fsr-3823	207	30	minimum	minimum	ADJ
fsr-3823	207	31	levels	level	NOUN
fsr-3823	207	32	of	of	ADP
fsr-3823	207	33	the	the	DET
fsr-3823	207	34	90	90	NUM
fsr-3823	207	35	percent	percent	NOUN
fsr-3823	207	36	con	con	NOUN
fsr-3823	207	37	fidence	fidence	NOUN
fsr-3823	207	38	level	level	NOUN
fsr-3823	207	39	.	.	PUNCT
fsr-3823	208	1	thus	thus	ADV
fsr-3823	208	2	,	,	PUNCT
fsr-3823	208	3	these	these	DET
fsr-3823	208	4	rates	rate	NOUN
fsr-3823	208	5	are	be	AUX
fsr-3823	208	6	“	"	PUNCT
fsr-3823	208	7	highly	highly	ADV
fsr-3823	208	8	unlikely	unlikely	ADJ
fsr-3823	208	9	”	"	PUNCT
fsr-3823	208	10	based	base	VERB
fsr-3823	208	11	on	on	ADP
fsr-3823	208	12	history	history	NOUN
fsr-3823	208	13	.	.	PUNCT
fsr-3823	209	1	on	on	ADP
fsr-3823	209	2	the	the	DET
fsr-3823	209	3	other	other	ADJ
fsr-3823	209	4	hand	hand	NOUN
fsr-3823	209	5	,	,	PUNCT
fsr-3823	209	6	such	such	ADJ
fsr-3823	209	7	extremes	extreme	NOUN
fsr-3823	209	8	are	be	AUX
fsr-3823	209	9	possible	possible	ADJ
fsr-3823	209	10	and	and	CCONJ
fsr-3823	209	11	might	might	AUX
fsr-3823	209	12	be	be	AUX
fsr-3823	209	13	of	of	ADP
fsr-3823	209	14	interest	interest	NOUN
fsr-3823	209	15	to	to	PART
fsr-3823	209	16	risk	risk	NOUN
fsr-3823	209	17	-	-	PUNCT
fsr-3823	209	18	taking	taking	NOUN
fsr-3823	209	19	and	and	CCONJ
fsr-3823	209	20	risk	risk	NOUN
fsr-3823	209	21	-	-	PUNCT
fsr-3823	209	22	averse	averse	ADJ
fsr-3823	209	23	clients	client	NOUN
fsr-3823	209	24	.	.	PUNCT
fsr-3823	210	1	a	a	DET
fsr-3823	210	2	conservative	conservative	ADJ
fsr-3823	210	3	advisor	advisor	NOUN
fsr-3823	210	4	,	,	PUNCT
fsr-3823	210	5	however	however	ADV
fsr-3823	210	6	,	,	PUNCT
fsr-3823	210	7	might	might	AUX
fsr-3823	210	8	want	want	VERB
fsr-3823	210	9	to	to	PART
fsr-3823	210	10	select	select	VERB
fsr-3823	210	11	a	a	DET
fsr-3823	210	12	lower	low	ADJ
fsr-3823	210	13	confidence	confidence	NOUN
fsr-3823	210	14	level	level	NOUN
fsr-3823	210	15	,	,	PUNCT
fsr-3823	210	16	believing	believe	VERB
fsr-3823	210	17	that	that	SCONJ
fsr-3823	210	18	the	the	DET
fsr-3823	210	19	recognition	recognition	NOUN
fsr-3823	210	20	of	of	ADP
fsr-3823	210	21	extreme	extreme	ADJ
fsr-3823	210	22	levels	level	NOUN
fsr-3823	210	23	of	of	ADP
fsr-3823	210	24	variation	variation	NOUN
fsr-3823	210	25	goes	go	VERB
fsr-3823	210	26	beyond	beyond	ADP
fsr-3823	210	27	what	what	PRON
fsr-3823	210	28	is	be	AUX
fsr-3823	210	29	proper	proper	ADJ
fsr-3823	210	30	.	.	PUNCT
fsr-3823	211	1	a	a	DET
fsr-3823	211	2	conservative	conservative	ADJ
fsr-3823	211	3	approach	approach	NOUN
fsr-3823	211	4	is	be	AUX
fsr-3823	211	5	to	to	PART
fsr-3823	211	6	argue	argue	VERB
fsr-3823	211	7	that	that	SCONJ
fsr-3823	211	8	projections	projection	NOUN
fsr-3823	211	9	based	base	VERB
fsr-3823	211	10	on	on	ADP
fsr-3823	211	11	compound	compound	NOUN
fsr-3823	211	12	returns	return	NOUN
fsr-3823	211	13	greater	great	ADJ
fsr-3823	211	14	than	than	ADP
fsr-3823	211	15	the	the	DET
fsr-3823	211	16	average	average	ADJ
fsr-3823	211	17	return	return	NOUN
fsr-3823	211	18	during	during	ADP
fsr-3823	211	19	a	a	DET
fsr-3823	211	20	past	past	ADJ
fsr-3823	211	21	period	period	NOUN
fsr-3823	211	22	believed	believe	VERB
fsr-3823	211	23	to	to	PART
fsr-3823	211	24	reasonably	reasonably	ADV
fsr-3823	211	25	represent	represent	VERB
fsr-3823	211	26	the	the	DET
fsr-3823	211	27	future	future	NOUN
fsr-3823	211	28	is	be	AUX
fsr-3823	211	29	not	not	PART
fsr-3823	211	30	credible	credible	ADJ
fsr-3823	211	31	.	.	PUNCT
fsr-3823	212	1	the	the	DET
fsr-3823	212	2	problem	problem	NOUN
fsr-3823	212	3	with	with	ADP
fsr-3823	212	4	this	this	DET
fsr-3823	212	5	approach	approach	NOUN
fsr-3823	212	6	is	be	AUX
fsr-3823	212	7	its	its	PRON
fsr-3823	212	8	reliance	reliance	NOUN
fsr-3823	212	9	on	on	ADP
fsr-3823	212	10	only	only	ADV
fsr-3823	212	11	one	one	NUM
fsr-3823	212	12	moment	moment	NOUN
fsr-3823	212	13	of	of	ADP
fsr-3823	212	14	the	the	DET
fsr-3823	212	15	distribution	distribution	NOUN
fsr-3823	212	16	of	of	ADP
fsr-3823	212	17	historical	historical	ADJ
fsr-3823	212	18	returns	return	NOUN
fsr-3823	212	19	.	.	PUNCT
fsr-3823	213	1	the	the	DET
fsr-3823	213	2	method	method	NOUN
fsr-3823	213	3	used	use	VERB
fsr-3823	213	4	in	in	ADP
fsr-3823	213	5	this	this	DET
fsr-3823	213	6	study	study	NOUN
fsr-3823	213	7	improves	improve	VERB
fsr-3823	213	8	on	on	ADP
fsr-3823	213	9	the	the	DET
fsr-3823	213	10	his	his	PRON
fsr-3823	213	11	torical	torical	ADJ
fsr-3823	213	12	average	average	ADJ
fsr-3823	213	13	approach	approach	NOUN
fsr-3823	213	14	by	by	ADP
fsr-3823	213	15	also	also	ADV
fsr-3823	213	16	recognizing	recognize	VERB
fsr-3823	213	17	the	the	DET
fsr-3823	213	18	standard	standard	ADJ
fsr-3823	213	19	deviation	deviation	NOUN
fsr-3823	213	20	of	of	ADP
fsr-3823	213	21	historical	historical	ADJ
fsr-3823	213	22	returns	return	NOUN
fsr-3823	213	23	and	and	CCONJ
fsr-3823	213	24	confidence	confidence	NOUN
fsr-3823	213	25	levels	level	NOUN
fsr-3823	213	26	around	around	ADP
fsr-3823	213	27	the	the	DET
fsr-3823	213	28	mean	mean	NOUN
fsr-3823	213	29	.	.	PUNCT
fsr-3823	214	1	to	to	ADP
fsr-3823	214	2	the	the	DET
fsr-3823	214	3	extent	extent	NOUN
fsr-3823	214	4	the	the	DET
fsr-3823	214	5	theoretical	theoretical	ADJ
fsr-3823	214	6	distributions	distribution	NOUN
fsr-3823	214	7	employed	employ	VERB
fsr-3823	214	8	in	in	ADP
fsr-3823	214	9	the	the	DET
fsr-3823	214	10	current	current	ADJ
fsr-3823	214	11	study	study	NOUN
fsr-3823	214	12	of	of	ADP
fsr-3823	214	13	investment	investment	NOUN
fsr-3823	214	14	projections	projection	NOUN
fsr-3823	214	15	fit	fit	VERB
fsr-3823	214	16	reality	reality	NOUN
fsr-3823	214	17	,	,	PUNCT
fsr-3823	214	18	they	they	PRON
fsr-3823	214	19	demonstrate	demonstrate	VERB
fsr-3823	214	20	that	that	SCONJ
fsr-3823	214	21	long	long	ADV
fsr-3823	214	22	-	-	PUNCT
fsr-3823	214	23	run	run	VERB
fsr-3823	214	24	returns	return	NOUN
fsr-3823	214	25	converge	converge	VERB
fsr-3823	214	26	over	over	ADP
fsr-3823	214	27	time	time	NOUN
fsr-3823	214	28	to	to	ADP
fsr-3823	214	29	a	a	DET
fsr-3823	214	30	relatively	relatively	ADV
fsr-3823	214	31	narrow	narrow	ADJ
fsr-3823	214	32	range	range	NOUN
fsr-3823	214	33	around	around	ADP
fsr-3823	214	34	the	the	DET
fsr-3823	214	35	projected	project	VERB
fsr-3823	214	36	median	median	ADJ
fsr-3823	214	37	return	return	NOUN
fsr-3823	214	38	.	.	PUNCT
fsr-3823	215	1	current	current	ADJ
fsr-3823	215	2	returns	return	NOUN
fsr-3823	215	3	during	during	ADP
fsr-3823	215	4	periods	period	NOUN
fsr-3823	215	5	of	of	ADP
fsr-3823	215	6	historically	historically	ADV
fsr-3823	215	7	high	high	ADJ
fsr-3823	215	8	returns	return	NOUN
fsr-3823	215	9	are	be	AUX
fsr-3823	215	10	likely	likely	ADJ
fsr-3823	215	11	to	to	PART
fsr-3823	215	12	be	be	AUX
fsr-3823	215	13	well	well	ADV
fsr-3823	215	14	beyond	beyond	ADP
fsr-3823	215	15	what	what	PRON
fsr-3823	215	16	seem	seem	VERB
fsr-3823	215	17	achievable	achievable	ADJ
fsr-3823	215	18	in	in	ADP
fsr-3823	215	19	the	the	DET
fsr-3823	215	20	long	long	ADJ
fsr-3823	215	21	run	run	NOUN
fsr-3823	215	22	.	.	PUNCT
fsr-3823	216	1	thus	thus	ADV
fsr-3823	216	2	,	,	PUNCT
fsr-3823	216	3	serious	serious	ADJ
fsr-3823	216	4	concern	concern	NOUN
fsr-3823	216	5	exists	exist	VERB
fsr-3823	216	6	about	about	ADP
fsr-3823	216	7	the	the	DET
fsr-3823	216	8	ethics	ethic	NOUN
fsr-3823	216	9	and	and	CCONJ
fsr-3823	216	10	credibility	credibility	NOUN
fsr-3823	216	11	of	of	ADP
fsr-3823	216	12	industry	industry	NOUN
fsr-3823	216	13	practices	practice	NOUN
fsr-3823	216	14	.	.	PUNCT
fsr-3823	217	1	the	the	DET
fsr-3823	217	2	ethical	ethical	ADJ
fsr-3823	217	3	financial	financial	ADJ
fsr-3823	217	4	planner	planner	NOUN
fsr-3823	217	5	will	will	AUX
fsr-3823	217	6	want	want	VERB
fsr-3823	217	7	to	to	PART
fsr-3823	217	8	pro	pro	VERB
fsr-3823	217	9	vide	vide	VERB
fsr-3823	217	10	a	a	DET
fsr-3823	217	11	perspective	perspective	NOUN
fsr-3823	217	12	for	for	ADP
fsr-3823	217	13	evaluation	evaluation	NOUN
fsr-3823	217	14	of	of	ADP
fsr-3823	217	15	the	the	DET
fsr-3823	217	16	guaranteed	guarantee	VERB
fsr-3823	217	17	,	,	PUNCT
fsr-3823	217	18	current	current	ADJ
fsr-3823	217	19	,	,	PUNCT
fsr-3823	217	20	and	and	CCONJ
fsr-3823	217	21	intermediate	intermediate	ADJ
fsr-3823	217	22	projections	projection	NOUN
fsr-3823	217	23	found	find	VERB
fsr-3823	217	24	in	in	ADP
fsr-3823	217	25	the	the	DET
fsr-3823	217	26	typical	typical	ADJ
fsr-3823	217	27	current	current	ADJ
fsr-3823	217	28	sales	sale	NOUN
fsr-3823	217	29	illustration	illustration	NOUN
fsr-3823	217	30	.	.	PUNCT
fsr-3823	218	1	possible	possible	ADJ
fsr-3823	218	2	future	future	ADJ
fsr-3823	218	3	cash	cash	NOUN
fsr-3823	218	4	values	value	NOUN
fsr-3823	218	5	are	be	AUX
fsr-3823	218	6	related	relate	VERB
fsr-3823	218	7	to	to	ADP
fsr-3823	218	8	risk	risk	NOUN
fsr-3823	218	9	.	.	PUNCT
fsr-3823	219	1	the	the	DET
fsr-3823	219	2	consumer	consumer	NOUN
fsr-3823	219	3	is	be	AUX
fsr-3823	219	4	better	well	ADV
fsr-3823	219	5	informed	informed	ADJ
fsr-3823	219	6	if	if	SCONJ
fsr-3823	219	7	mea	mea	NOUN
fsr-3823	219	8	sures	sure	NOUN
fsr-3823	219	9	of	of	ADP
fsr-3823	219	10	risk	risk	NOUN
fsr-3823	219	11	,	,	PUNCT
fsr-3823	219	12	as	as	ADV
fsr-3823	219	13	well	well	ADV
fsr-3823	219	14	as	as	ADP
fsr-3823	219	15	expected	expect	VERB
fsr-3823	219	16	returns	return	NOUN
fsr-3823	219	17	,	,	PUNCT
fsr-3823	219	18	are	be	AUX
fsr-3823	219	19	communicated	communicate	VERB
fsr-3823	219	20	in	in	ADP
fsr-3823	219	21	any	any	DET
fsr-3823	219	22	financial	financial	ADJ
fsr-3823	219	23	transaction	transaction	NOUN
fsr-3823	219	24	.	.	PUNCT
fsr-3823	220	1	a	a	DET
fsr-3823	220	2	major	major	ADJ
fsr-3823	220	3	value	value	NOUN
fsr-3823	220	4	of	of	ADP
fsr-3823	220	5	the	the	DET
fsr-3823	220	6	method	method	NOUN
fsr-3823	220	7	illustrated	illustrate	VERB
fsr-3823	220	8	in	in	ADP
fsr-3823	220	9	this	this	DET
fsr-3823	220	10	study	study	NOUN
fsr-3823	220	11	is	be	AUX
fsr-3823	220	12	the	the	DET
fsr-3823	220	13	ability	ability	NOUN
fsr-3823	220	14	to	to	PART
fsr-3823	220	15	present	present	VERB
fsr-3823	220	16	levels	level	NOUN
fsr-3823	220	17	of	of	ADP
fsr-3823	220	18	pessi	pessi	ADJ
fsr-3823	220	19	166	166	NUM
fsr-3823	220	20	financial	financial	ADJ
fsr-3823	220	21	services	service	NOUN
fsr-3823	220	22	review	review	VERB
fsr-3823	220	23	6(3	6(3	NUM
fsr-3823	220	24	)	)	PUNCT
fsr-3823	220	25	1998	1998	NUM
fsr-3823	220	26	mistic	mistic	ADJ
fsr-3823	220	27	and	and	CCONJ
fsr-3823	220	28	optimistic	optimistic	ADJ
fsr-3823	220	29	returns	return	NOUN
fsr-3823	220	30	around	around	ADP
fsr-3823	220	31	the	the	DET
fsr-3823	220	32	median	median	NOUN
fsr-3823	220	33	in	in	ADP
fsr-3823	220	34	a	a	DET
fsr-3823	220	35	risk	risk	NOUN
fsr-3823	220	36	context	context	NOUN
fsr-3823	220	37	.	.	PUNCT
fsr-3823	221	1	for	for	ADP
fsr-3823	221	2	example	example	NOUN
fsr-3823	221	3	,	,	PUNCT
fsr-3823	221	4	the	the	DET
fsr-3823	221	5	likeli	likeli	ADJ
fsr-3823	221	6	hood	hood	NOUN
fsr-3823	221	7	of	of	ADP
fsr-3823	221	8	the	the	DET
fsr-3823	221	9	long	long	ADV
fsr-3823	221	10	-	-	PUNCT
fsr-3823	221	11	run	run	VERB
fsr-3823	221	12	cash	cash	NOUN
fsr-3823	221	13	value	value	NOUN
fsr-3823	221	14	reaching	reach	VERB
fsr-3823	221	15	the	the	DET
fsr-3823	221	16	level	level	NOUN
fsr-3823	221	17	illustrated	illustrate	VERB
fsr-3823	221	18	at	at	ADP
fsr-3823	221	19	the	the	DET
fsr-3823	221	20	maximum	maximum	ADJ
fsr-3823	221	21	value	value	NOUN
fsr-3823	221	22	for	for	ADP
fsr-3823	221	23	the	the	DET
fsr-3823	221	24	90	90	NUM
fsr-3823	221	25	percent	percent	NOUN
fsr-3823	221	26	confidence	confidence	NOUN
fsr-3823	221	27	level	level	NOUN
fsr-3823	221	28	is	be	AUX
fsr-3823	221	29	an	an	DET
fsr-3823	221	30	optimistic	optimistic	ADJ
fsr-3823	221	31	10	10	NUM
fsr-3823	221	32	percent	percent	NOUN
fsr-3823	221	33	,	,	PUNCT
fsr-3823	221	34	given	give	VERB
fsr-3823	221	35	a	a	DET
fsr-3823	221	36	two	two	NUM
fsr-3823	221	37	-	-	PUNCT
fsr-3823	221	38	tailed	tail	VERB
fsr-3823	221	39	test	test	NOUN
fsr-3823	221	40	.	.	PUNCT
fsr-3823	222	1	the	the	DET
fsr-3823	222	2	con	con	PROPN
fsr-3823	222	3	sumer	sumer	PROPN
fsr-3823	222	4	who	who	PRON
fsr-3823	222	5	is	be	AUX
fsr-3823	222	6	a	a	DET
fsr-3823	222	7	risk	risk	NOUN
fsr-3823	222	8	taker	taker	NOUN
fsr-3823	222	9	could	could	AUX
fsr-3823	222	10	dream	dream	VERB
fsr-3823	222	11	about	about	ADP
fsr-3823	222	12	this	this	DET
fsr-3823	222	13	high	high	ADJ
fsr-3823	222	14	level	level	NOUN
fsr-3823	222	15	of	of	ADP
fsr-3823	222	16	return	return	NOUN
fsr-3823	222	17	,	,	PUNCT
fsr-3823	222	18	hopefully	hopefully	ADV
fsr-3823	222	19	,	,	PUNCT
fsr-3823	222	20	still	still	ADV
fsr-3823	222	21	being	be	AUX
fsr-3823	222	22	fully	fully	ADV
fsr-3823	222	23	informed	inform	VERB
fsr-3823	222	24	that	that	SCONJ
fsr-3823	222	25	any	any	DET
fsr-3823	222	26	return	return	NOUN
fsr-3823	222	27	in	in	ADP
fsr-3823	222	28	this	this	DET
fsr-3823	222	29	vicinity	vicinity	NOUN
fsr-3823	222	30	is	be	AUX
fsr-3823	222	31	unlikely	unlikely	ADJ
fsr-3823	222	32	to	to	PART
fsr-3823	222	33	occur	occur	VERB
fsr-3823	222	34	.	.	PUNCT
fsr-3823	223	1	with	with	ADP
fsr-3823	223	2	current	current	ADJ
fsr-3823	223	3	life	life	NOUN
fsr-3823	223	4	insurer	insurer	NOUN
fsr-3823	223	5	marketing	marketing	NOUN
fsr-3823	223	6	practices	practice	NOUN
fsr-3823	223	7	,	,	PUNCT
fsr-3823	223	8	the	the	DET
fsr-3823	223	9	typical	typical	ADJ
fsr-3823	223	10	prospective	prospective	ADJ
fsr-3823	223	11	client	client	NOUN
fsr-3823	223	12	is	be	AUX
fsr-3823	223	13	given	give	VERB
fsr-3823	223	14	little	little	ADJ
fsr-3823	223	15	information	information	NOUN
fsr-3823	223	16	about	about	ADP
fsr-3823	223	17	the	the	DET
fsr-3823	223	18	like	like	INTJ
fsr-3823	223	19	lihood	lihood	NOUN
fsr-3823	223	20	of	of	ADP
fsr-3823	223	21	illustrated	illustrate	VERB
fsr-3823	223	22	returns	return	NOUN
fsr-3823	223	23	,	,	PUNCT
fsr-3823	223	24	even	even	ADV
fsr-3823	223	25	when	when	SCONJ
fsr-3823	223	26	they	they	PRON
fsr-3823	223	27	have	have	VERB
fsr-3823	223	28	virtually	virtually	ADV
fsr-3823	223	29	no	no	DET
fsr-3823	223	30	likelihood	likelihood	NOUN
fsr-3823	223	31	of	of	ADP
fsr-3823	223	32	materializing	materialize	VERB
fsr-3823	223	33	in	in	ADP
fsr-3823	223	34	the	the	DET
fsr-3823	223	35	long	long	ADJ
fsr-3823	223	36	run	run	NOUN
fsr-3823	223	37	.	.	PUNCT
fsr-3823	224	1	current	current	ADJ
fsr-3823	224	2	returns	return	NOUN
fsr-3823	224	3	are	be	AUX
fsr-3823	224	4	described	describe	VERB
fsr-3823	224	5	simply	simply	ADV
fsr-3823	224	6	as	as	ADP
fsr-3823	224	7	not	not	PART
fsr-3823	224	8	likely	likely	ADJ
fsr-3823	224	9	to	to	PART
fsr-3823	224	10	occur	occur	VERB
fsr-3823	224	11	and	and	CCONJ
fsr-3823	224	12	actual	actual	ADJ
fsr-3823	224	13	results	result	NOUN
fsr-3823	224	14	may	may	AUX
fsr-3823	224	15	be	be	AUX
fsr-3823	224	16	more	more	ADV
fsr-3823	224	17	or	or	CCONJ
fsr-3823	224	18	less	less	ADV
fsr-3823	224	19	favorable	favorable	ADJ
fsr-3823	224	20	than	than	ADP
fsr-3823	224	21	those	those	PRON
fsr-3823	224	22	shown	show	VERB
fsr-3823	224	23	.	.	PUNCT
fsr-3823	225	1	the	the	DET
fsr-3823	225	2	illustration	illustration	NOUN
fsr-3823	225	3	of	of	ADP
fsr-3823	225	4	perhaps	perhaps	ADV
fsr-3823	225	5	the	the	DET
fsr-3823	225	6	guaranteed	guarantee	VERB
fsr-3823	225	7	return	return	NOUN
fsr-3823	225	8	,	,	PUNCT
fsr-3823	225	9	the	the	DET
fsr-3823	225	10	projected	project	VERB
fsr-3823	225	11	median	median	ADJ
fsr-3823	225	12	return	return	NOUN
fsr-3823	225	13	for	for	ADP
fsr-3823	225	14	a	a	DET
fsr-3823	225	15	portfolio	portfolio	NOUN
fsr-3823	225	16	like	like	ADP
fsr-3823	225	17	that	that	PRON
fsr-3823	225	18	backing	back	VERB
fsr-3823	225	19	the	the	DET
fsr-3823	225	20	product	product	NOUN
fsr-3823	225	21	,	,	PUNCT
fsr-3823	225	22	a	a	DET
fsr-3823	225	23	pessimis	pessimis	NOUN
fsr-3823	225	24	tic	tic	ADJ
fsr-3823	225	25	projection	projection	NOUN
fsr-3823	225	26	between	between	ADP
fsr-3823	225	27	the	the	DET
fsr-3823	225	28	guaranteed	guarantee	VERB
fsr-3823	225	29	and	and	CCONJ
fsr-3823	225	30	median	median	ADJ
fsr-3823	225	31	rates	rate	NOUN
fsr-3823	225	32	,	,	PUNCT
fsr-3823	225	33	and	and	CCONJ
fsr-3823	225	34	one	one	NUM
fsr-3823	225	35	or	or	CCONJ
fsr-3823	225	36	two	two	NUM
fsr-3823	225	37	optimistic	optimistic	ADJ
fsr-3823	225	38	projec	projec	NOUN
fsr-3823	225	39	tions	tion	NOUN
fsr-3823	225	40	above	above	ADP
fsr-3823	225	41	the	the	DET
fsr-3823	225	42	median	median	NOUN
fsr-3823	225	43	,	,	PUNCT
fsr-3823	225	44	with	with	ADP
fsr-3823	225	45	accompanying	accompany	VERB
fsr-3823	225	46	confidence	confidence	NOUN
fsr-3823	225	47	levels	level	NOUN
fsr-3823	225	48	would	would	AUX
fsr-3823	225	49	provide	provide	VERB
fsr-3823	225	50	helpful	helpful	ADJ
fsr-3823	225	51	information	information	NOUN
fsr-3823	225	52	to	to	ADP
fsr-3823	225	53	consumers	consumer	NOUN
fsr-3823	225	54	.	.	PUNCT
fsr-3823	226	1	in	in	ADP
fsr-3823	226	2	any	any	DET
fsr-3823	226	3	effort	effort	NOUN
fsr-3823	226	4	to	to	PART
fsr-3823	226	5	improve	improve	VERB
fsr-3823	226	6	communications	communication	NOUN
fsr-3823	226	7	,	,	PUNCT
fsr-3823	226	8	it	it	PRON
fsr-3823	226	9	is	be	AUX
fsr-3823	226	10	important	important	ADJ
fsr-3823	226	11	to	to	PART
fsr-3823	226	12	avoid	avoid	VERB
fsr-3823	226	13	overloading	overload	VERB
fsr-3823	226	14	the	the	DET
fsr-3823	226	15	consumer	consumer	NOUN
fsr-3823	226	16	with	with	ADP
fsr-3823	226	17	information	information	NOUN
fsr-3823	226	18	.	.	PUNCT
fsr-3823	227	1	while	while	SCONJ
fsr-3823	227	2	no	no	DET
fsr-3823	227	3	scientific	scientific	ADJ
fsr-3823	227	4	methodology	methodology	NOUN
fsr-3823	227	5	can	can	AUX
fsr-3823	227	6	exactly	exactly	ADV
fsr-3823	227	7	pinpoint	pinpoint	VERB
fsr-3823	227	8	future	future	ADJ
fsr-3823	227	9	performance	performance	NOUN
fsr-3823	227	10	because	because	SCONJ
fsr-3823	227	11	of	of	ADP
fsr-3823	227	12	unknown	unknown	ADJ
fsr-3823	227	13	future	future	ADJ
fsr-3823	227	14	factors	factor	NOUN
fsr-3823	227	15	,	,	PUNCT
fsr-3823	227	16	perhaps	perhaps	ADV
fsr-3823	227	17	it	it	PRON
fsr-3823	227	18	is	be	AUX
fsr-3823	227	19	reasonable	reasonable	ADJ
fsr-3823	227	20	to	to	PART
fsr-3823	227	21	hypothesize	hypothesize	VERB
fsr-3823	227	22	that	that	SCONJ
fsr-3823	227	23	long	long	ADV
fsr-3823	227	24	-	-	PUNCT
fsr-3823	227	25	run	run	NOUN
fsr-3823	227	26	returns	return	NOUN
fsr-3823	227	27	will	will	AUX
fsr-3823	227	28	be	be	AUX
fsr-3823	227	29	similar	similar	ADJ
fsr-3823	227	30	to	to	ADP
fsr-3823	227	31	the	the	DET
fsr-3823	227	32	distribution	distribution	NOUN
fsr-3823	227	33	of	of	ADP
fsr-3823	227	34	past	past	ADJ
fsr-3823	227	35	returns	return	NOUN
fsr-3823	227	36	for	for	ADP
fsr-3823	227	37	selected	select	VERB
fsr-3823	227	38	periods	period	NOUN
fsr-3823	227	39	of	of	ADP
fsr-3823	227	40	history	history	NOUN
fsr-3823	227	41	.	.	PUNCT
fsr-3823	228	1	any	any	DET
fsr-3823	228	2	acceptance	acceptance	NOUN
fsr-3823	228	3	of	of	ADP
fsr-3823	228	4	this	this	DET
fsr-3823	228	5	hypothesis	hypothesis	NOUN
fsr-3823	228	6	,	,	PUNCT
fsr-3823	228	7	assuming	assume	VERB
fsr-3823	228	8	normal	normal	ADJ
fsr-3823	228	9	or	or	CCONJ
fsr-3823	228	10	lognormal	lognormal	ADJ
fsr-3823	228	11	distributions	distribution	NOUN
fsr-3823	228	12	,	,	PUNCT
fsr-3823	228	13	will	will	AUX
fsr-3823	228	14	result	result	VERB
fsr-3823	228	15	in	in	ADP
fsr-3823	228	16	a	a	DET
fsr-3823	228	17	broad	broad	ADJ
fsr-3823	228	18	range	range	NOUN
fsr-3823	228	19	of	of	ADP
fsr-3823	228	20	future	future	ADJ
fsr-3823	228	21	short	short	ADJ
fsr-3823	228	22	-	-	PUNCT
fsr-3823	228	23	run	run	NOUN
fsr-3823	228	24	returns	return	NOUN
fsr-3823	228	25	.	.	PUNCT
fsr-3823	229	1	however	however	ADV
fsr-3823	229	2	,	,	PUNCT
fsr-3823	229	3	the	the	DET
fsr-3823	229	4	range	range	NOUN
fsr-3823	229	5	of	of	ADP
fsr-3823	229	6	possible	possible	ADJ
fsr-3823	229	7	returns	return	NOUN
fsr-3823	229	8	fitting	fit	VERB
fsr-3823	229	9	a	a	DET
fsr-3823	229	10	given	give	VERB
fsr-3823	229	11	level	level	NOUN
fsr-3823	229	12	of	of	ADP
fsr-3823	229	13	statistical	statistical	ADJ
fsr-3823	229	14	confidence	confidence	NOUN
fsr-3823	229	15	will	will	AUX
fsr-3823	229	16	narrow	narrow	VERB
fsr-3823	229	17	as	as	SCONJ
fsr-3823	229	18	the	the	DET
fsr-3823	229	19	investment	investment	NOUN
fsr-3823	229	20	horizon	horizon	NOUN
fsr-3823	229	21	increases	increase	VERB
fsr-3823	229	22	.	.	PUNCT
fsr-3823	230	1	it	it	PRON
fsr-3823	230	2	is	be	AUX
fsr-3823	230	3	projected	project	VERB
fsr-3823	230	4	rates	rate	NOUN
fsr-3823	230	5	of	of	ADP
fsr-3823	230	6	return	return	NOUN
fsr-3823	230	7	for	for	ADP
fsr-3823	230	8	the	the	DET
fsr-3823	230	9	long	long	ADJ
fsr-3823	230	10	run	run	NOUN
fsr-3823	230	11	that	that	PRON
fsr-3823	230	12	should	should	AUX
fsr-3823	230	13	be	be	AUX
fsr-3823	230	14	used	use	VERB
fsr-3823	230	15	as	as	ADP
fsr-3823	230	16	compound	compound	NOUN
fsr-3823	230	17	rates	rate	NOUN
fsr-3823	230	18	of	of	ADP
fsr-3823	230	19	return	return	NOUN
fsr-3823	230	20	in	in	ADP
fsr-3823	230	21	projections	projection	NOUN
fsr-3823	230	22	of	of	ADP
fsr-3823	230	23	life	life	NOUN
fsr-3823	230	24	insurance	insurance	NOUN
fsr-3823	230	25	cash	cash	NOUN
fsr-3823	230	26	values	value	NOUN
fsr-3823	230	27	.	.	PUNCT
fsr-3823	231	1	references	reference	NOUN
fsr-3823	231	2	acli	acli	ADJ
fsr-3823	231	3	,	,	PUNCT
fsr-3823	231	4	(	(	PUNCT
fsr-3823	231	5	1994	1994	NUM
fsr-3823	231	6	)	)	PUNCT
fsr-3823	231	7	.	.	PUNCT
fsr-3823	232	1	life	life	NOUN
fsr-3823	232	2	insurance	insurance	NOUN
fsr-3823	232	3	fact	fact	NOUN
fsr-3823	232	4	book	book	NOUN
fsr-3823	232	5	.	.	PUNCT
fsr-3823	233	1	washington	washington	PROPN
fsr-3823	233	2	:	:	PUNCT
fsr-3823	233	3	american	american	PROPN
fsr-3823	233	4	council	council	PROPN
fsr-3823	233	5	of	of	ADP
fsr-3823	233	6	life	life	NOUN
fsr-3823	233	7	insurance	insurance	NOUN
fsr-3823	233	8	.	.	PUNCT
fsr-3823	234	1	actuarial	actuarial	ADJ
fsr-3823	234	2	standards	standard	NOUN
fsr-3823	234	3	board	board	NOUN
fsr-3823	234	4	(	(	PUNCT
fsr-3823	234	5	1995	1995	NUM
fsr-3823	234	6	)	)	PUNCT
fsr-3823	234	7	.	.	PUNCT
fsr-3823	235	1	compliance	compliance	NOUN
fsr-3823	235	2	with	with	ADP
fsr-3823	235	3	the	the	DET
fsr-3823	235	4	naic	naic	PROPN
fsr-3823	235	5	life	life	NOUN
fsr-3823	235	6	insurance	insurance	NOUN
fsr-3823	235	7	illustrations	illustration	NOUN
fsr-3823	235	8	model	model	VERB
fsr-3823	235	9	reg	reg	NOUN
fsr-3823	235	10	ulation	ulation	NOUN
fsr-3823	235	11	.	.	PUNCT
fsr-3823	236	1	actuarial	actuarial	ADJ
fsr-3823	236	2	standard	standard	NOUN
fsr-3823	236	3	of	of	ADP
fsr-3823	236	4	practice	practice	NOUN
fsr-3823	236	5	no	no	NOUN
fsr-3823	236	6	.	.	PROPN
fsr-3823	236	7	24	24	NUM
fsr-3823	236	8	,	,	PUNCT
fsr-3823	236	9	dot	dot	NOUN
fsr-3823	236	10	.	.	PUNCT
fsr-3823	237	1	no	no	INTJ
fsr-3823	237	2	.	.	NOUN
fsr-3823	237	3	050	050	NUM
fsr-3823	237	4	,	,	PUNCT
fsr-3823	238	1	p.	p.	NOUN
fsr-3823	238	2	2	2	NUM
fsr-3823	238	3	.	.	PUNCT
fsr-3823	239	1	aitchison	aitchison	PROPN
fsr-3823	239	2	,	,	PUNCT
fsr-3823	239	3	j.	j.	PROPN
fsr-3823	239	4	,	,	PUNCT
fsr-3823	239	5	&	&	CCONJ
fsr-3823	239	6	brown	brown	PROPN
fsr-3823	239	7	,	,	PUNCT
fsr-3823	239	8	j.	j.	PROPN
fsr-3823	239	9	a.	a.	PROPN
fsr-3823	239	10	c.	c.	PROPN
fsr-3823	239	11	(	(	PUNCT
fsr-3823	239	12	1957	1957	NUM
fsr-3823	239	13	)	)	PUNCT
fsr-3823	239	14	.	.	PUNCT
fsr-3823	240	1	the	the	DET
fsr-3823	240	2	lognomtal	lognomtal	ADJ
fsr-3823	240	3	distribution	distribution	NOUN
fsr-3823	240	4	:	:	PUNCT
fsr-3823	240	5	with	with	ADP
fsr-3823	240	6	special	special	ADJ
fsr-3823	240	7	reference	reference	NOUN
fsr-3823	240	8	to	to	ADP
fsr-3823	240	9	its	its	PRON
fsr-3823	240	10	uses	use	NOUN
fsr-3823	240	11	in	in	ADP
fsr-3823	240	12	economics	economics	PROPN
fsr-3823	240	13	cambridge	cambridge	PROPN
fsr-3823	240	14	:	:	PUNCT
fsr-3823	240	15	cambridge	cambridge	PROPN
fsr-3823	240	16	university	university	PROPN
fsr-3823	240	17	press	press	NOUN
fsr-3823	240	18	.	.	PUNCT
fsr-3823	241	1	bock	bock	NOUN
fsr-3823	241	2	,	,	PUNCT
fsr-3823	241	3	b.	b.	PROPN
fsr-3823	241	4	j.	j.	PROPN
fsr-3823	241	5	,	,	PUNCT
fsr-3823	241	6	faucett	faucett	PROPN
fsr-3823	241	7	,	,	PUNCT
fsr-3823	241	8	j.	j.	PROPN
fsr-3823	241	9	,	,	PUNCT
fsr-3823	241	10	&	&	CCONJ
fsr-3823	241	11	cole	cole	PROPN
fsr-3823	241	12	,	,	PUNCT
fsr-3823	241	13	l.	l.	PROPN
fsr-3823	241	14	n.	n.	PROPN
fsr-3823	241	15	(	(	PUNCT
fsr-3823	241	16	1992	1992	NUM
fsr-3823	241	17	)	)	PUNCT
fsr-3823	241	18	.	.	PUNCT
fsr-3823	242	1	life	life	NOUN
fsr-3823	242	2	insurance	insurance	NOUN
fsr-3823	242	3	sales	sale	NOUN
fsr-3823	242	4	illustrations	illustration	NOUN
fsr-3823	242	5	,	,	PUNCT
fsr-3823	242	6	society	society	NOUN
fsr-3823	242	7	of	of	ADP
fsr-3823	242	8	actuaries	actuary	NOUN
fsr-3823	242	9	report	report	VERB
fsr-3823	242	10	,	,	PUNCT
fsr-3823	242	11	vol	vol	NOUN
fsr-3823	242	12	.	.	PROPN
fsr-3823	242	13	18	18	NUM
fsr-3823	242	14	,	,	PUNCT
fsr-3823	242	15	no	no	INTJ
fsr-3823	242	16	.	.	NOUN
fsr-3823	242	17	3	3	NUM
fsr-3823	242	18	(	(	PUNCT
fsr-3823	242	19	pp	pp	ADJ
fsr-3823	242	20	.	.	PUNCT
fsr-3823	243	1	1317	1317	NUM
fsr-3823	243	2	-	-	SYM
fsr-3823	243	3	18	18	NUM
fsr-3823	243	4	)	)	PUNCT
fsr-3823	243	5	.	.	PUNCT
fsr-3823	244	1	burgess	burgess	PROPN
fsr-3823	244	2	,	,	PUNCT
fsr-3823	244	3	r.	r.	PROPN
fsr-3823	244	4	w.	w.	PROPN
fsr-3823	244	5	,	,	PUNCT
fsr-3823	244	6	et	et	PROPN
fsr-3823	244	7	.	.	PUNCT
fsr-3823	245	1	al	al	PROPN
fsr-3823	245	2	.	.	PROPN
fsr-3823	246	1	(	(	PUNCT
fsr-3823	246	2	1994	1994	NUM
fsr-3823	246	3	)	)	PUNCT
fsr-3823	246	4	.	.	PUNCT
fsr-3823	247	1	measuring	measure	VERB
fsr-3823	247	2	insurance	insurance	NOUN
fsr-3823	247	3	company	company	NOUN
fsr-3823	247	4	investment	investment	NOUN
fsr-3823	247	5	performance	performance	NOUN
fsr-3823	247	6	.	.	PUNCT
fsr-3823	248	1	society	society	NOUN
fsr-3823	248	2	of	of	ADP
fsr-3823	248	3	actuaries	actuary	NOUN
fsr-3823	248	4	record	record	NOUN
fsr-3823	248	5	,	,	PUNCT
fsr-3823	248	6	vol	vol	NOUN
fsr-3823	248	7	.	.	PROPN
fsr-3823	248	8	20	20	NUM
fsr-3823	248	9	,	,	PUNCT
fsr-3823	248	10	no	no	INTJ
fsr-3823	248	11	.	.	NOUN
fsr-3823	248	12	2	2	X
fsr-3823	248	13	.	.	X
fsr-3823	248	14	crow	crow	PROPN
fsr-3823	248	15	,	,	PUNCT
fsr-3823	248	16	e.	e.	PROPN
fsr-3823	248	17	l.	l.	PROPN
fsr-3823	248	18	,	,	PUNCT
fsr-3823	248	19	&	&	CCONJ
fsr-3823	248	20	shim	shim	PROPN
fsr-3823	248	21	&	&	CCONJ
fsr-3823	248	22	k.	k.	PROPN
fsr-3823	248	23	(	(	PUNCT
fsr-3823	248	24	1988	1988	NUM
fsr-3823	248	25	)	)	PUNCT
fsr-3823	248	26	.	.	PUNCT
fsr-3823	249	1	lognormal	lognormal	ADJ
fsr-3823	249	2	distributions	distribution	NOUN
fsr-3823	249	3	:	:	PUNCT
fsr-3823	249	4	theory	theory	NOUN
fsr-3823	249	5	and	and	CCONJ
fsr-3823	249	6	applications	application	NOUN
fsr-3823	249	7	.	.	PUNCT
fsr-3823	250	1	new	new	PROPN
fsr-3823	250	2	york	york	PROPN
fsr-3823	250	3	:	:	PUNCT
fsr-3823	250	4	marcel	marcel	PROPN
fsr-3823	250	5	dekker	dekker	PROPN
fsr-3823	250	6	.	.	PUNCT
fsr-3823	251	1	lewis	lewis	PROPN
fsr-3823	251	2	,	,	PUNCT
fsr-3823	251	3	a.	a.	PROPN
fsr-3823	251	4	l.	l.	PROPN
fsr-3823	251	5	,	,	PUNCT
fsr-3823	251	6	kassouf	kassouf	PROPN
fsr-3823	251	7	,	,	PUNCT
fsr-3823	251	8	s.	s.	PROPN
fsr-3823	251	9	t.	t.	PROPN
fsr-3823	251	10	,	,	PUNCT
fsr-3823	251	11	brehm	brehm	PROPN
fsr-3823	251	12	,	,	PUNCT
fsr-3823	251	13	r.	r.	PROPN
fsr-3823	251	14	d.	d.	PROPN
fsr-3823	251	15	,	,	PUNCT
fsr-3823	251	16	&	&	CCONJ
fsr-3823	251	17	johnston	johnston	PROPN
fsr-3823	251	18	,	,	PUNCT
fsr-3823	251	19	j.	j.	PROPN
fsr-3823	251	20	(	(	PUNCT
fsr-3823	251	21	1980	1980	NUM
fsr-3823	251	22	)	)	PUNCT
fsr-3823	251	23	.	.	PUNCT
fsr-3823	252	1	the	the	DET
fsr-3823	252	2	ibbotson	ibbotson	PROPN
fsr-3823	252	3	-	-	PUNCT
fsr-3823	252	4	sinquefield	sinquefield	PROPN
fsr-3823	252	5	simula	simula	PROPN
fsr-3823	252	6	tion	tion	PROPN
fsr-3823	252	7	made	make	VERB
fsr-3823	252	8	easy	easy	ADJ
fsr-3823	252	9	.	.	PUNCT
fsr-3823	253	1	journal	journal	NOUN
fsr-3823	253	2	of	of	ADP
fsr-3823	253	3	business	business	NOUN
fsr-3823	253	4	,	,	PUNCT
fsr-3823	253	5	53(2	53(2	NUM
fsr-3823	253	6	)	)	PUNCT
fsr-3823	253	7	,	,	PUNCT
fsr-3823	253	8	205	205	NUM
fsr-3823	253	9	-	-	SYM
fsr-3823	253	10	214	214	NUM
fsr-3823	253	11	.	.	PUNCT
fsr-3823	254	1	lucas	lucas	PROPN
fsr-3823	254	2	,	,	PUNCT
fsr-3823	254	3	l.	l.	PROPN
fsr-3823	254	4	(	(	PUNCT
fsr-3823	254	5	1995	1995	NUM
fsr-3823	254	6	)	)	PUNCT
fsr-3823	254	7	.	.	PUNCT
fsr-3823	255	1	building	build	VERB
fsr-3823	255	2	better	well	ADJ
fsr-3823	255	3	inputs	input	NOUN
fsr-3823	255	4	:	:	PUNCT
fsr-3823	255	5	a	a	DET
fsr-3823	255	6	guide	guide	NOUN
fsr-3823	255	7	to	to	ADP
fsr-3823	255	8	the	the	DET
fsr-3823	255	9	methodology	methodology	NOUN
fsr-3823	255	10	and	and	CCONJ
fsr-3823	255	11	value	value	NOUN
fsr-3823	255	12	added	add	VERB
fsr-3823	255	13	of	of	ADP
fsr-3823	255	14	ibbotson	ibbotson	PROPN
fsr-3823	255	15	’s	’s	PART
fsr-3823	255	16	optimizer	optimizer	NOUN
fsr-3823	255	17	inputs	input	NOUN
fsr-3823	255	18	.	.	PUNCT
fsr-3823	256	1	unpublished	unpublished	ADJ
fsr-3823	256	2	paper	paper	NOUN
fsr-3823	256	3	.	.	PUNCT
fsr-3823	257	1	mcgough	mcgough	PROPN
fsr-3823	257	2	,	,	PUNCT
fsr-3823	257	3	r.	r.	PROPN
fsr-3823	257	4	(	(	PUNCT
fsr-3823	257	5	1997	1997	NUM
fsr-3823	257	6	,	,	PUNCT
fsr-3823	257	7	may	may	AUX
fsr-3823	257	8	13	13	NUM
fsr-3823	257	9	)	)	PUNCT
fsr-3823	257	10	.	.	PUNCT
fsr-3823	258	1	now	now	ADV
fsr-3823	258	2	,	,	PUNCT
fsr-3823	258	3	funds	fund	NOUN
fsr-3823	258	4	may	may	AUX
fsr-3823	258	5	choose	choose	VERB
fsr-3823	258	6	their	their	PRON
fsr-3823	258	7	past	past	NOUN
fsr-3823	258	8	.	.	PUNCT
fsr-3823	259	1	the	the	DET
fsr-3823	259	2	wall	wall	PROPN
fsr-3823	259	3	street	street	PROPN
fsr-3823	259	4	journal	journal	PROPN
fsr-3823	259	5	,	,	PUNCT
fsr-3823	259	6	pp	pp	PROPN
fsr-3823	259	7	.	.	PUNCT
fsr-3823	260	1	cl	cl	NOUN
fsr-3823	260	2	,	,	PUNCT
fsr-3823	260	3	c25	c25	PROPN
fsr-3823	260	4	.	.	PROPN
fsr-3823	260	5	miller	miller	PROPN
fsr-3823	260	6	,	,	PUNCT
fsr-3823	260	7	w.	w.	PROPN
fsr-3823	260	8	n.	n.	PROPN
fsr-3823	260	9	(	(	PUNCT
fsr-3823	260	10	1996	1996	NUM
fsr-3823	260	11	)	)	PUNCT
fsr-3823	260	12	.	.	PUNCT
fsr-3823	261	1	special	special	ADJ
fsr-3823	261	2	report	report	NOUN
fsr-3823	261	3	:	:	PUNCT
fsr-3823	261	4	how	how	SCONJ
fsr-3823	261	5	companies	company	NOUN
fsr-3823	261	6	are	be	AUX
fsr-3823	261	7	answering	answer	VERB
fsr-3823	261	8	the	the	DET
fsr-3823	261	9	iq	iq	NOUN
fsr-3823	261	10	.	.	PUNCT
fsr-3823	262	1	journal	journal	PROPN
fsr-3823	262	2	of	of	ADP
fsr-3823	262	3	the	the	DET
fsr-3823	262	4	american	american	PROPN
fsr-3823	262	5	socie@	socie@	PROPN
fsr-3823	262	6	of	of	ADP
fsr-3823	262	7	clu	clu	PROPN
fsr-3823	262	8	&	&	CCONJ
fsr-3823	262	9	chfc	chfc	PROPN
fsr-3823	262	10	,	,	PUNCT
fsr-3823	262	11	50(2	50(2	NUM
fsr-3823	262	12	)	)	PUNCT
fsr-3823	262	13	,	,	PUNCT
fsr-3823	262	14	82	82	NUM
fsr-3823	262	15	-	-	SYM
fsr-3823	262	16	89	89	NUM
fsr-3823	262	17	.	.	PUNCT
fsr-3823	263	1	naic	naic	PROPN
fsr-3823	263	2	,	,	PUNCT
fsr-3823	263	3	(	(	PUNCT
fsr-3823	263	4	1995	1995	NUM
fsr-3823	263	5	)	)	PUNCT
fsr-3823	263	6	life	life	NOUN
fsr-3823	263	7	insurance	insurance	NOUN
fsr-3823	263	8	illustrations	illustration	NOUN
fsr-3823	263	9	model	model	NOUN
fsr-3823	263	10	regulation	regulation	NOUN
fsr-3823	263	11	.	.	PUNCT
fsr-3823	264	1	potasky	potasky	PROPN
fsr-3823	264	2	,	,	PUNCT
fsr-3823	264	3	s.	s.	PROPN
fsr-3823	264	4	,	,	PUNCT
fsr-3823	264	5	feinberg	feinberg	PROPN
fsr-3823	264	6	,	,	PUNCT
fsr-3823	264	7	m.	m.	PROPN
fsr-3823	264	8	j.	j.	PROPN
fsr-3823	264	9	,	,	PUNCT
fsr-3823	264	10	katcher	katcher	PROPN
fsr-3823	264	11	,	,	PUNCT
fsr-3823	264	12	m.	m.	PROPN
fsr-3823	264	13	r.	r.	PROPN
fsr-3823	264	14	,	,	PUNCT
fsr-3823	264	15	&	&	CCONJ
fsr-3823	264	16	querfeld	querfeld	PROPN
fsr-3823	264	17	,	,	PUNCT
fsr-3823	264	18	e.	e.	PROPN
fsr-3823	264	19	b.	b.	PROPN
fsr-3823	264	20	(	(	PUNCT
fsr-3823	264	21	1992	1992	NUM
fsr-3823	264	22	)	)	PUNCT
fsr-3823	264	23	.	.	PUNCT
fsr-3823	265	1	individual	individual	ADJ
fsr-3823	265	2	life	life	NOUN
fsr-3823	265	3	policy	policy	NOUN
fsr-3823	265	4	update	update	NOUN
fsr-3823	265	5	.	.	PUNCT
fsr-3823	266	1	sociew	sociew	NOUN
fsr-3823	266	2	of	of	ADP
fsr-3823	266	3	actuaries	actuary	NOUN
fsr-3823	266	4	record	record	NOUN
fsr-3823	266	5	,	,	PUNCT
fsr-3823	266	6	vol	vol	NOUN
fsr-3823	266	7	.	.	PROPN
fsr-3823	266	8	18	18	NUM
fsr-3823	266	9	,	,	PUNCT
fsr-3823	266	10	no	no	INTJ
fsr-3823	266	11	.	.	PUNCT
fsr-3823	267	1	4b	4b	PROPN
fsr-3823	267	2	,	,	PUNCT
fsr-3823	267	3	p.	p.	NOUN
fsr-3823	267	4	2043	2043	NUM
fsr-3823	267	5	.	.	PUNCT
fsr-3823	268	1	historical	historical	ADJ
fsr-3823	268	2	investment	investment	NOUN
fsr-3823	268	3	performance	performance	NOUN
fsr-3823	268	4	167	167	NUM
fsr-3823	268	5	pritchett	pritchett	PROPN
fsr-3823	268	6	,	,	PUNCT
fsr-3823	268	7	s.	s.	PROPN
fsr-3823	268	8	t.	t.	PROPN
fsr-3823	268	9	(	(	PUNCT
fsr-3823	268	10	1998	1998	NUM
fsr-3823	268	11	)	)	PUNCT
fsr-3823	268	12	.	.	PUNCT
fsr-3823	269	1	life	life	NOUN
fsr-3823	269	2	insurance	insurance	NOUN
fsr-3823	269	3	sales	sale	NOUN
fsr-3823	269	4	illustrations	illustration	NOUN
fsr-3823	269	5	:	:	PUNCT
fsr-3823	269	6	perspectives	perspective	NOUN
fsr-3823	269	7	on	on	ADP
fsr-3823	269	8	problems	problem	NOUN
fsr-3823	269	9	and	and	CCONJ
fsr-3823	269	10	corrective	corrective	ADJ
fsr-3823	269	11	options	option	NOUN
fsr-3823	269	12	.	.	PUNCT
fsr-3823	270	1	alternative	alternative	ADJ
fsr-3823	270	2	approaches	approach	NOUN
fsr-3823	270	3	to	to	ADP
fsr-3823	270	4	issues	issue	NOUN
fsr-3823	270	5	in	in	ADP
fsr-3823	270	6	insurance	insurance	NOUN
fsr-3823	270	7	regulation	regulation	NOUN
fsr-3823	270	8	,	,	PUNCT
fsr-3823	270	9	kansas	kansas	PROPN
fsr-3823	270	10	city	city	PROPN
fsr-3823	270	11	:	:	PUNCT
fsr-3823	270	12	national	national	PROPN
fsr-3823	270	13	association	association	PROPN
fsr-3823	270	14	of	of	ADP
fsr-3823	270	15	insurance	insurance	NOUN
fsr-3823	270	16	commissioners	commissioner	NOUN
fsr-3823	270	17	.	.	PUNCT
fsr-3823	271	1	using	use	VERB
fsr-3823	271	2	historical	historical	ADJ
fsr-3823	271	3	data	datum	NOUN
fsr-3823	271	4	in	in	ADP
fsr-3823	271	5	optimization	optimization	NOUN
fsr-3823	271	6	and	and	CCONJ
fsr-3823	271	7	forecasting	forecasting	NOUN
fsr-3823	271	8	.	.	PUNCT
fsr-3823	272	1	(	(	PUNCT
fsr-3823	272	2	1995	1995	NUM
fsr-3823	272	3	)	)	PUNCT
fsr-3823	272	4	stocks	stock	NOUN
fsr-3823	272	5	,	,	PUNCT
fsr-3823	272	6	bonds	bond	NOUN
fsr-3823	272	7	,	,	PUNCT
fsr-3823	272	8	bills	bill	NOUN
fsr-3823	272	9	,	,	PUNCT
fsr-3823	272	10	and	and	CCONJ
fsr-3823	272	11	inflation	inflation	NOUN
fsr-3823	272	12	:	:	PUNCT
fsr-3823	272	13	1995	1995	NUM
fsr-3823	272	14	yearbook	yearbook	NOUN
fsr-3823	272	15	,	,	PUNCT
fsr-3823	272	16	(	(	PUNCT
fsr-3823	272	17	pp	pp	INTJ
fsr-3823	272	18	.	.	PUNCT
fsr-3823	273	1	159	159	NUM
fsr-3823	273	2	-	-	SYM
fsr-3823	273	3	73	73	NUM
fsr-3823	273	4	)	)	PUNCT
fsr-3823	273	5	.	.	PUNCT
fsr-3823	274	1	chicago	chicago	PROPN
fsr-3823	274	2	:	:	PUNCT
fsr-3823	274	3	ibbotson	ibbotson	PROPN
fsr-3823	274	4	.	.	PUNCT