AmericanAcademyOfActuaries

WASHINGTON -- May 14, 2010 -- The American Academy of Actuaries believes that longevity risk—the risk of living longer than one had financially planned for and thus outliving one’s retirement savings—is a real and serious threat to a stable and financially secure retirement. Longevity risk can be managed efficiently, however, through various risk pooling approaches, the actuaries wrote to the departments of Labor and the Treasury.

WASHINGTON -- June 18, 2010 -- The American Academy of Actuaries Senior Pension Fellow Frank Todisco provided several observations following his review of the Governmental Accounting Standards Board’s (GASB) Preliminary Views on Pension Accounting and Financial Reporting by Employers released Wednesday.

Initial observations by Todisco:

WASHINGTON -- Sept. 15, 2010 -- The American Academy of Actuaries testified earlier today to officials with the U.S. departments of Labor and the Treasury that employers should be required to offer some form of a guaranteed lifetime income option in tax-qualified individual retirement account plans.

WASHINGTON -- Sept. 16, 2010 -- The American Academy of Actuaries announced that the following discipline action became effective on Sept. 2, 2010:

Disciplinary Notice

Board of Directors Also Elects Five New Officers

WASHINGTON -- Oct. 5, 2010 -- The American Academy of Actuaries Nominating Committee presented a slate of nominees today to fill regular director positions on the Academy's board of directors. The nominees for these positions will be voted on by the membership during the Academy's annual meeting on Nov. 8 in Washington.

WASHINGTON -- Oct. 25, 2010  -- The American Academy of Actuaries is urging the National Commission on Fiscal Responsibility and Reform to address the financial condition of Social Security and to restore actuarial balance to the program by including an increase in the retirement age in its final recommendations. The actuaries said that increasing life expectancy has led to an expansion of lifetime benefits and system costs, but that an increase in the retirement age would help curb this cost growth.

**UPDATE: MR. SCHWARTZ SUCCESSFULLY COMPLETED A PROFESSIONALISM COURSE, AS PRESCRIBED BY THE DISCIPLINE COMMITTEE, ON APRIL 8, 2011.

WASHINGTON -- Oct. 28, 2010 -- The American Academy of Actuaries announced that the following discipline action became effective on Oct. 25, 2010:

Disciplinary Notice

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