AmericanAcademyOfActuaries

Announcements

• Please pay your membership dues by May 1 to avoid a 20 percent late fee. 2012 membership dues remain at the same level as 2011. If you haven’t paid your 2012 dues, click here to conveniently pay online. Now is also a good time to ensure your member profile is up to date, make any necessary changes, and sign up for Academy alerts—timely online bulletins about legislative and regulatory developments that keep members informed. Log in now to pay your dues, print your invoice, or to update your profile.

• Partial dues waivers—do you qualify? If you are under the age of 70 and retired, planning to retire soon, or on temporary leave, you may be eligible for a partial Academy membership dues waiver. Qualified members receive a substantial discount and can continue to enjoy the same benefits of full membership. Click here to learn more about how partial dues work and to apply. 

Media Coverage

• Acquiring costs: New accounting guideline changes how business acquisition costs are charged against stockholder equity
  Best’s Review, January 2012
  The Academy’s former Risk Management and Financial Reporting Vice President Henry Siegel and former Life Financial Reporting Committee Chairperson Leonard Reback discussed the Financial Accounting Standard Board’s new guidance for acquiring and renewing insurance contracts.

• Academy: State Regulation Framework Just Peachy for Contingent Annuities
  National Underwriter Life & Health, Dec. 22, 2011
  The Academy Contingent Annuity Work Group’s report to the National Association of Insurance Commissioners (NAIC) Contingent Deferred Annuity Subgroup during a Dec. 22 conference call and a related Oct. 28 analysis provided to the NAIC were discussed. Academy Life Products Committee Chairperson Cande Olsen said that the Academy work group concluded that contingent annuities are similar to products with guaranteed lifetime withdrawal benefit and that the basic regulatory framework in place for other products can be applied to contingent annuities “with little or no modifications.”

Upcoming Events

• Casualty actuaries: Join the Academy and the CAS on Thursday, January 19, 2012, for a webinar that will address issues fundamental to effective P/C actuarial work: data, documentation and disclosure. This webinar also will discuss the Code of Professional Conduct, the CAS Statements of Principle, relevant Actuarial Standards of Practice, and specific NAIC guidance for issuing statements of actuarial opinion. Learn more.

Recently Released Publications

• The Jan/Feb Contingencies features an article clarifying which organization’s continuing education requirements apply to actuaries practicing in the United States; a review of Ellen Schultz’s new book, Retirement Heist; an engaging history of three Victorian actuaries who made great contributions to the profession; and much more. 

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