Keeping Up Internationally—Recorded webinar and slides available
If you missed the Council on Professionalism’s fourth webinar of 2011 on Dec. 15,
click here
to download the recorded audio presentation or
here
for the slides. Council members Curtis Huntington and Godfrey Perrott discussed the International Actuarial Association and how its activities
potentially affect U.S. actuaries. Presenters also discussed why actuaries should keep up with current international events and stay informed
of proposed changes. (12/16/11)
Post-NAIC Update/PBA Webinar, Nov. 22
The Academy’s Life Practice Council will present a webinar on Nov. 22 to review the NAIC Fall 2011 National Meeting and progress on
implementing the Principle-based Approach (PBA) to reserving. This 90-minute webinar also will include updates regarding the VM-20 impact study
and NAIC developments on the Own Risk Solvency Assessment (ORSA). Click here to learn more. (10/27/11)
Capitol Hill Briefing: Important New Research Findings Indicate a “Rising Tide” of Contributions Facing Defined Benefit Pensions
The Academy is hosting a jointly sponsored Capitol Hill briefing with the Society of Actuaries on Oct. 11
to present new research findings from the actuarial profession that illustrates a “rising tide” of funding challenges facing the
private defined benefit system. Presenters will discuss important implications for plan sponsors, beneficiaries, and
policymakers. Learn more. (09/30/11)
The Academy's Online Election Ended Sept. 2
The Academy's first-ever online election for open regular
director positions on the board of directors ended Sept. 2. Also on the ballot
were votes on two bylaws amendments—one implementing the profession-wide changes
to the discipline process and another that shortens the term of the presidential
office by one year by removing the position of penultimate past president from
the Academy board of directors. Results will be announced on or before the
Academy Annual Meeting Oct. 24. (09/06/11)
Cancelled: Sept 8 Post-NAIC/PBA Update webinar
Due to the recent cancellation of the NAIC Summer 2011 National Meeting in Philadelphia, the Academy has cancelled the Post-NAIC Update/PBA webinar on Sept. 8. Registrants will receive a full refund within two weeks (in the same manner as paid). If you do not receive your refund within this time frame, please email Gabriel Swee at swee@actuary.org. (08/26/11)
Welcome to issue #1 of Retirement Account from the Pension Practice Council
Read the first issue of Retirement
Account—the Pension Practice Council's new quarterly email newsletter
designed to keep Pension actuaries up to date on Academy activity in the pension
arena. The newsletter features short descriptions of—and links to—recent
practice council work products, including comment letters, practice notes,
publications, and legislative outreach. It supplements the detailed reports on
pension activity that members already receive each month in the
Actuarial Update
and each quarter in the Enrolled
Actuaries Report. (08/19/11)
Academy Online Election Goes Live Aug. 3
The Academy's first-ever online election for open regular director positions on the board of directors launched Aug. 3. The election also includes votes on two bylaws amendments—one implementing the profession-wide changes to the discipline process and another that shortens the term of the presidential office by one year by removing the position of penultimate past president from the Academy board of directors. Members will receive an email in the name of the Academy from a mailbox at "directvote.net." The email will have instructions on how to log in to the secure election website and vote. The election will be open until Sept. 2, 2011. For more information on the election, visit the Academy Election Center. (08/03/11)
Preparing for Change under PBA for Life Products: Life Company Reserves and Capital Seminar
Join the Academy and the Society of Actuaries on Sept. 14 in Orlando to learn more about the Principle-based Approach (PBA) implementation challenges and how PBA will affect the valuation process. The Preparing for Change under PBA for Life Products: Life Company Reserves and Capital seminar will cover several "hot topics" and the specific implementation challenges related to PBA for statutory reserves for life products. Don't miss out on gaining a deeper understanding of these key issues and the necessary changes needed to adapt in a PBA world. (07/29/11)
Audio and Slides Available for The Profession's Responsibility to the Public webinar
The presentation slides and audio recording of the live June 29 webinar The Profession's Responsibility to the Public, are available for download. Presenters discussed the profession's responsibility to the public; Precept 1 of the Code of Professional Conduct; the state of the profession; and the key aspects on maintaining the profession's relevance. (06/30/11)
Registration opens for Annual Meeting, speaker announced
Registration is now open for the 2011 Academy Annual Meeting and Awards Luncheon, which will feature a keynote address by statistician Nate Silver. Silver is the founder of fivethirtyeight.com, a political blog offering polling analytics. Silver's blog is now a licensed feature of the New York Times. This year's event will be held at the JW Marriot Las Vegas Resort & Spa on Oct. 24 in conjunction with the Conference of Consulting Actuaries Annual Meeting. Learn more about the program and registration here. (06/29/11)
Capitol Hill briefing: Weathering the Storm—Placing the National Flood Insurance Program on Actuarial Solid Ground
The Academy is presenting a briefing to policymakers and regulators on July 12 on the current challenges facing the National Flood Insurance Program (NFIP) and the actuarial implications of these challenges. Speakers will give a presentation on the historical evolution of the NFIP and discuss reform options that could help address the program's long-term financial soundness. Academy members and the public also are welcome. Learn more. (06/29/11)
What does it mean to fulfill the profession's responsibility to the public?
Join the Academy for the June 29 webinar, The Profession's Responsibility to the Public, to explore this question and to learn more about:
Precept 1 of the Code as the source of the actuarial profession's responsibility to the public and to uphold the reputation of the actuarial profession.
The state of the profession: If the public does not think we are responsible, do we have a profession?
The key aspects on maintaining the profession's relevance.
This webinar is sponsored by the Academy's Council on Professionalism and is co-sponsored by ASPPA, CAS, CCA, and SOA. Learn more! (06/13/11)
Actuarial voice on insurance advisory committee is essential
In a letter to the U.S. Treasury Department, Academy President Mary Frances Miller urged Treasury officials to ensure that the proposed Federal Advisory Committee on Insurance includes individuals with direct actuarial expertise. (06/09/11)
Academy seeks nominations for two prestigious awards
The Academy is seeking to recognize outstanding members for their contributions and commitment to the profession through the Robert J. Myers Public Service Award and the Jarvis Farley Service Award. The Robert J. Myers Public Service Award will honor an actuary who has made an extraordinary contribution to the public good. The nomination deadline is July 8. The Jarvis Farley Award will recognize an Academy member who has made exceptional contributions to the actuarial profession through volunteer service. The nomination deadline is July 12. Recipients of the awards will be announced at the Academy Annual Meeting and Awards Luncheon on Oct. 24. (06/07/11)
Presentations available for Capitol Hill briefings
Click below to download full slide presentations from the Academy’ recent Capitol Hill briefings. (05/27/11)
An Actuarial Perspective on the 2011 Social Security Trustees Report, May 26
Presenters from the Academy's Social Insurance Committee shared insights on
the 2011 Social Security Trustees Report and presented reform options that,
if enacted now, could help address Social Security's long-term financial
soundness.
An Actuarial Perspective on the 2011 Medicare Trustees Report, May 27
Presenters from the Health Practice Council examined the financial projections
from the newly released 2011 Medicare Trustees Report and discussed the outlook
for Medicare's sustainability.
Product Recall Video: Covering Your Bottom Line
Actuary Kevin Bingham, who co-authored "Product Recall: Covering Your Bottom Line" in the March/April 2011 issue of
Contingencies, highlights the risk of a product recall and how to plan for it in the Academy's newest YouTube video. Watch it now on the Academy's YouTube channel. (05/25/11)
Draft "Agreement on Joint Discipline" Available
As previously announced, the boards of directors of the U.S.-based actuarial organizations have approved in principle a proposal to make improvements to the profession's discipline process in the United States. For the Academy, this will require members to vote on bylaw amendments to allow the Academy to enter into a joint discipline agreement. A draft of that agreement is now available for members to review. Draft bylaw amendments will be available in the near future. (05/20/11)
Academy 2011 membership dues
If you haven't paid your 2011 Academy membership dues that were due May 1, please do so as soon as possible. You can log in to conveniently pay online. Once logged in, you also can print your invoice, update your profile, and sign up for Academy Alerts. (05/19/11)
Academy Issues Retirement Plan and Related Consulting Services RFP
The Academy is conducting an RFP process related to the administration of its employee retirement programs. Interested parties are encouraged to respond to the RFP by May 31. (05/19/11)
New message from Academy President
Academy President Mary Frances Miller announced in her May message proposed changes to improve the U.S. actuarial profession's discipline process. The changes are intended to increase efficiency and create greater consistency among discipline outcomes. (05/12/11)
IAA Call for Papers
In advance of a May 6-9, 2012, Mini-Congress titled The Actuarial Profession and Social and Economic Development, the International Actuarial Association (IAA) has issued a call for abstracts of proposed papers and presentations on any topic in the areas of pensions and social security, healthcare, insurance or consulting practice. Wider or cross-disciplinary topics, such as social and economic development issues, enterprise risk management, professionalism, and the public interest, are also welcome. Click here for details. (5/11/11)
Video and presentation available for Pension Risk and Your Retirement briefing
View the video of the Academy Pension Practice Council's April 4 Capitol Hill briefing on Pension Risk and Your Retirement. Presenters Ethan Kra and Lane West addressed the risks inherent with retirement plan designs and the implications for retirement planning and public policy reforms. (04/14/11)
Presentation available for Pension Risk and Your Retirement briefing
The Academy's Pension Practice Council presented a briefing, Pension Risk and Your Retirement, April 4 on Capitol Hill. Presenters Ethan Kra and Lane West addressed the risks inherent with retirement plan designs and the implications for retirement planning and public policy. Download the presentation. (04/04/11)
Nominations for Regular Director positions to the Academy Board
The Nominating Committee of the Academy welcomes nominations for members to stand for election as regular directors to the Academy Board of Directors. For additional information, please refer to the Nominating Committee Guidelines in the Academy Yearbook and Leadership Manual. You may submit your nomination(s) using the online form or by e-mail to nominations@actuary.org. (03/25/11)
Post-NAIC Update/PBA Webinar, April 14
The Life Practice Council will review the NAIC Spring National Meeting on April 14 in a live 90-minute webinar. The webinar also will include updates regarding the PBA practice note, as well as the VM-20 impact study. Sign up now to learn more! (03/25/11)
New message from Academy President
Academy President Mary Frances Miller in a March 23 letter updated members on the continuing discussions by the Board of Directors regarding the recommendations for nominations, elections, and board composition and structure based on the Governance Task Force final report, which was presented to the Board in October 2010. (03/24/11)
ASOP No. 41 Webinar Audio and Slides Available
The presentation slides and audio recording of the live webinar on ASOP No. 41, Actuarial Communications, are available now for download. The Academy's Council on Professionalism presented this cross-practice webinar on Wednesday, March 23, to more than 8,000 participants. Featured speakers from the ASB, Al Beer and Jim Murphy, discussed changes to the ASOP that will go into effect May 1. Click on the links below to download the webinar materials. (03/23/11)
Actuary to testify during congressional hearing
Al Schmitz will testify on behalf of the Academy during the U.S. House Committee on Energy and Commerce Subcommittee on Health's hearing on March 17 regarding the Community Living Assistance Services and Supports (CLASS) Act. (3/15/11)
Actuaries to host 2011 Enrolled Actuaries Meeting
The 2011 Enrolled Actuaries Meeting will feature nearly 60 sessions focusing on pension funding and technical issues. The meeting will also include a special session on public pension funding. (3/14/11)
Letter from Academy leaders on the Japanese earthquake and tsunami
President Mary Frances Miller and President-elect Dave
Sandberg offer
deepest sympathy and concern to the Institute of Actuaries of Japan and the
Japanese Society of Certified Pension Actuaries. (03/11/11)
IIPRC seeks full-time consulting actuary
The Interstate Insurance Product Regulation Commission
(IIPRC) is seeking a full-time consulting actuary. Interested candidates:
click
here for a complete job description. For questions and resume submission,
e-mail comments@insurancecompact.org. (03/08/11)
How Insurance Companies Estimate Costs and Price Health Insurance Policies
Academy Health Practice Council Vice President Tom Wildsmith will be a guest expert during the
Hartford Courant's live web chat on March 3 at noon EST. Click here to participate in the chat. (03/02/11)
2011 Enrolled Actuaries Meeting, March 27-30
The meeting will feature more than 50 different sessions covering a wide range of topics and issues relevant to Enrolled Actuaries and other pension professionals. Additional continuing education opportunities also are available before and after the meeting, including the Professional Standards Seminar and the 2011 Pension Symposium. Register now and join the American Academy of Actuaries and the Conference of Consulting Actuaries for the 36th annual Enrolled Actuaries Meeting at the Marriott Wardman Park Hotel in Washington. (02/16/11)
Webinar: A Look at Guidance Notice (2010-83)—Funding Relief for Multiemployer Defined Benefit Plans Under the Pension Relief Act of 2010
Miss this 90-minute interactive
webinar on
Jan. 27 or just want a copy of the recorded presentation? You can order a CD
of the presentation slides and the recorded audiocast—including the question and
answer section—at a discounted rate. Webinar presenters discussed several
aspects of the IRS Notice 2010-83 relating to funding relief for multiemployer
plans under the PRA.
Order your copy today! (02/07/11)
New message from Academy President
Academy President Mary Frances Miller reviews The Actuarial State of the Union and highlights recently approved revisions to the Academy Vision and Mission statements in her latest message to Academy members. (01/28/11)
The Actuarial State of the Union
The Academy has outlined a domestic policy agenda to improve Americans' financial security and restore the nation's fiscal health from an actuarial perspective. (01/24/11)
Governance review status update
The board of directors considered the recommendations contained in the
Governance Task Force's final report at a special full-day meeting on Jan. 4. A
status report has been added to the Governance Review Initiative
webpage.
(01/20/11)
Academy job search for Senior Pension Fellow continues
The American Academy of Actuaries seeks a Senior Pension Fellow to advance its
work on issues relating to retirement income security. The fellow will be
responsible for connecting personally with policymakers, media, government
officials, think tanks, academics, FASB/GASB, and other opinion leaders on
issues of concern to the public and the profession. Candidates must be a member
of the American Academy of Actuaries, fellow of the Society of Actuaries and an
Enrolled Actuary.
Click here for complete details. (01/18/11)
New Webinar For Actuaries Who Prepare or Sign P/C Actuarial Opinions
Actuaries who prepare or sign NAIC Statements of Actuarial Opinion on property/casualty loss reserves are encouraged to register for the Feb. 2 educational webinar on actuarial opinions and ASOP Nos. 36 and 43. This interactive webinar, jointly-sponsored by the Academy and the CAS, will educate registrants about standards applicable in drafting loss reserve opinions. Learn more. (01/14/11)
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