The Academy’s Annuity Reserves and Capital Work Group submitted a presentation to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force’s VM-22 Subgroup regarding longevity reinsurance and longevity swaps.
(May 05, 2022)The Academy is seeking proposals from qualified vendors to produce its annual Life and Health Valuation Law Manual. Proposals are due by June 15, 2022.
(May 02, 2022)The Pension Committee published an issue brief highlighting public policy considerations involved in potential modifications to single employer pension plan funding rules.
(April 20, 2022)The Academy’s Life Long-Term Care Combo Product Valuation Practice Note Work Group released Long-Term Care Insurance Combination Product Valuation, a practice note to that addresses the application of the NAIC Valuation Manual to these products from primarily a life insurance perspective. The previous 2019 Long-term Care (LTC) Combination Product Valuation Practice Note was developed by a work group of the Health Practice Council within the Academy.
(April 20, 2022)On April 9, 2022, Academy Board member and Health Equity Work Group (HEWG) Chairperson Annette James presented to about 150 students at the Drake Symposium on Insurance on “Diversity, Equity & Inclusion in the Actuarial Profession.” Chairperson James highlighted the Academy’s strategic focus and ongoing efforts to address DE&I, including fostering a diverse, inclusive profession. She also presented on ongoing multifaceted HEWG initiatives to address health equity.
(April 14, 2022)The Economic Scenario Generator (ESG) Work Group gave updates in response to LATF questions on the work group’s recent presentation on Model Office ESG Testing.
(March 31, 2022)Academy Life Vice President Ben Slutsker gave a presentation on recent Life Practice Council activity to the NAIC’s Virtual 2022 Life Actuarial Task Force (LATF) Spring National Meeting.
(March 31, 2022)Academy Health Practice Council (HPC) Vice Chairperson, Barb Klever, provided an update on HPC activities to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force during the Virtual 2022 Spring National Meeting.
(March 29, 2022)The Intersector Group released notes from its February 2022 virtual meeting with the Pension Benefit Guaranty Corporation (PBGC).
(March 25, 2022)The Life Valuation Committee submitted comments on APF 2020-12 regarding hedging in VM-20 and VM-21 to the NAIC’s Life Actuarial Task Force.
(March 25, 2022)The Life Underwriting and Risk Classification Work Group submitted comments to the NAIC’s Accelerated Underwriting (A) Working Group Ad Hoc Drafting Subgroup’s Educational Report exposure draft of March 4, 2022.
(March 25, 2022)The Asset Modeling and Reporting Task Force submitted comments on the draft Actuarial Guideline (AG) on Asset Adequacy Testing (AAT) which was exposed during the NAIC’s Life Actuarial Task Force’s February 10 meeting.
(March 25, 2022)The Economic Scenario Generator Work Group presented an update on Model Office Economic Scenario Generator (ESG) Testing to the NAIC’s Life (A) Actuarial Task Force (LATF). The presentation provided actual model office results for the economic scenario sets that have been selected by NAIC’s ESG Drafting Group.
(March 17, 2022)The Health Care Delivery Committee released an issue brief on the “Implications of Hospital Price Transparency on Hospital Prices and Price Variation.” The brief emphasizes that price transparency may be a necessary, but not sufficient mechanism, to lower hospital prices and health care spending.
(March 10, 2022)The Life Reserves Work Group, Annuity Reserves and Capital Work Group, and Variable Annuity Reserves and Capital Work Group submit an amendment proposal and presentation to the NAIC’s Life Actuarial Task Force on Swap Spreads and the London Inter-bank Offered Rate Transition to the Secured Overnight Financing Rate.
(March 10, 2022)The Annuity Reserves and Capital Work Group submitted recommendations of Aggregation Principles as outlined in the Academy’s Preliminary Framework Elements for Fixed Annuity Principle-Based Reserving to the National Association of Insurance Commissioners’ Life Actuarial Task Force’s VM-22 Subgroup.
(March 09, 2022)The Retirement System Assessment and Policy Committee completed a series of issue briefs laying out guiding principles for a comprehensive national retirement policy, begun with July 2019’s National Retirement Policy & Principles. The series also discusses possible changes in plan design to broaden access and participation in retirement plans to better enable workers to retire with a secure lifetime income.
(March 09, 2022)The Retirement System Assessment and Policy Committee released an issue brief, Retirement Policy: Aligning Plan Design with Effective Employee Engagement, which analyzes how retirement program design can impact decisions that participants make with the goal of improving retirement security.
(March 09, 2022)The Long-Term Care Medicaid Subcommittee submitted a comment letter to the Centers for Medicare & Medicaid Services (CMS) on the proposed rule, “Medicare Program; Contract Year 2023 Policy and Technical Changes to the Medicare Advantage and Medicare Prescription Drug Benefit Programs.” The comments focused on dual-eligible special needs plans (D-SNP’s) and separate medical loss ratio (MLR) requirements.
(March 07, 2022)The Economic Scenario Generator Work Group presented to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on model office testing scenarios of the new economic scenario generator.
(March 03, 2022)