The Penn State Alumni Association

What’s been happening:

Work: 1941: Transferred from Penn State to Harvard Business School. Harvard MBA in �43. 1943-46: U.S. Third Army; Quartermaster Graves Registration. Sited National Cemetery, Luxembourg during Battle of the Bulge. 1948-62: a senior officer of international pension consulting firm. 1962-79: founder, chairman of life insurer, First Investment Annuity Company. Investment Annuity was unique; created by Kelly. 1980-1995: several life insurers enter, market, and administer "variable annuities." Current variable annuity assets aggregate multi-billions of dollars. 2003: inducted into insurance industry's Variable Annuity Hall of Fame. 1988 to present: lobby Congress and administrations to remove irrational tax constraints on everyone�s saving and investing. Family: Married Jane Eva MacCabe June 11, 1949. Four children and 7 grandchildren, one step-grandchild. Family residences have included Philadelphia area, New York (Irvington), Cleveland (Shaker Heights), and New Hampshire (Tuftonboro).