Ricardo Trachtman

FSA, MAAA

Consulting Actuary & Principal

Chicago, IL, US

Ricky Trachtman is a principal and consulting actuary in the Milliman Buffalo Grove office. He joined the firm in 2002. He primarily works with clients to help design and price a wide variety of annuity and life insurance products.

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Experience

Ricky has experience in the life insurance industry, with a focus in the area of product development. He has assisted in the development of a wide range of life and annuity products. His recent projects include the following:

Pricing RILAs major competitors in that space with and without GLWBs
Modeling RILAs under statutory and GAAP accounting for various purposes, including valuation and financial planning
Pricing and extensive product development for fixed-index annuities including the development of new features to help differentiate products in that space, guaranteed living benefit riders, long-term care enhancement riders, guaranteed death benefit riders, innovative crediting strategies, crediting, and premium bonuses.
Modeling FIAs under GAAP and Statutory accounting for various purposes, such as financial planning, deterministic and stochastic pricing, appraisals, and valuation
Pricing and modelling variable annuities with guaranteed living benefit riders, death benefit riders, and accumulation benefit riders
Developing tools to help visualize and improve understanding of pricing results under deterministic and stochastic environments
Developing efficient financial and pricing projection models in various platforms, including Integrate®

Professional Designations

Fellow of the Society of Actuaries
Member of the American Academy of Actuaries
Member of the Life Product Committee from the American Academy of Actuaries
Member of the Annuity and Reserves & Capital subcommittee at the Academy working on VM-22
Chair of the practice note working group for VM-22

Education

Degree in Actuarial Science from Roosevelt University

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Publications

Read their latest work

Article

7 considerations for pricing annuities in a VM-22 PBR world

16 February 2026 - by Collin Davidson, Ricardo Trachtman

We discuss seven important considerations as insurers adapt their pricing models and philosophy in the new world of principle-based reserving.

Article

Understanding and modeling interest rate sensitivity on fixed index annuity

20 December 2025 - by Gordon Klein, Ricardo Trachtman, Hanbo Zhang

To model the interest rate impact on FIA products, insurers need to balance industry intelligence with the uniqueness of their own block.

Article

Current state of principle-based reserving for non-variable annuities (VM-22)

10 May 2024 - by Yan Fridman, Zi Xiang Low, Zohair Motiwalla, Ricardo Trachtman, Karthik Yadatore

We look at the key elements of a principle-based-reserving framework for statutory reserving, known as “VM-22” and under review by NAIC.

Article

Milliman Fixed Indexed Annuity and Multi-Year Guaranteed Annuity lapse experience study

29 February 2024 - by Yan Fridman, Ben Johnson, Ricardo Trachtman, Nathan Wilbanks, Karthik Yadatore

We conducted a survey of 13 Fixed Indexed Annuity (FIA) and Multi-Year Guaranteed Annuity (MYGA) writers on several aspects of dynamic adjustments to base lapse rates due to differences between their current and perceived market or competitor crediting rates.

Article

Registered index-linked annuity cap-setting methodologies

31 January 2023 - by Fiona Ng, Jordan Rosenfeld, Ricardo Trachtman, Karthik Yadatore

We examine the long-term impacts of carriers holding the cap-setting methods fixed over time, versus switching between RILA cap-setting methods.

Ricardo Trachtman

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Experience

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Read their latest work

7 considerations for pricing annuities in a VM-22 PBR world

Understanding and modeling interest rate sensitivity on fixed index annuity

Current state of principle-based reserving for non-variable annuities (VM-22)

Milliman Fixed Indexed Annuity and Multi-Year Guaranteed Annuity lapse experience study

Registered index-linked annuity cap-setting methodologies

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Ricardo Trachtman

Experience

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