This Week, March 2, 2012




 
Week ending March 2, 2012

Member Alerts

  • Health Insurance Alert: The Department of Health and Human Services issued a bulletin addressing actuarial value and cost-sharing reductions. Log in to read the full alert.

Website: New Postings

  • The Life Experience Subcommittee presented an update to the NAIC Life Actuarial Task Force regarding the development of new mortality tables.

  • The Nonforfeiture Improvement Work Group gave its quarterly report to the NAIC’s Life Actuarial Task Force at the NAIC’s Spring National Meeting.

  • The Annuity Reserves Work Group gave a report to the NAIC’s Life Actuarial Task Force regarding the development of a possible definition of Deterministic Reserves for use in VM-22 at the NAIC spring meeting.

  • The Life Reserves Work Group submitted two proposed amendments regarding VM-20 and VM-31 to the NAIC’s Life Actuarial Task Force at the NAIC spring meeting.

  • The Academy’s Group Long-Term Disability Work Group presented its progress in developing the Group Long-Term Disability valuation table to the NAIC’s Health Actuarial Task Force at the NAIC spring meeting.

  • The Medicare Steering Committee released a new issue brief that discusses proposals to update Medicare’s traditional fee-for-service benefit design.

Recently Released Publications

  • First quarter Retirement Account: Read about comments the Pension Committee submitted to the IRS and Treasury on several regulatory issues along with other pension news.

  • February Actuarial Update: Learn about the new ASOP 45, read a recap of two health webinars, and welcome 344 new Academy members.

  • February HealthCheck: Read about the Health Practice Council’s concerns about Arizona’s regulatory definition of “qualified actuary” and about provisions in President Obama’s 2013 budget that are aimed at improving the sustainability of the Medicare program.

  • March/April Contingencies: read articles on Solvency II, leadership traits for chief risk officers, building a better mortality model to manage longevity risk, and more. Also in March/April is the Actuarial JobSeeker supplement.

Upcoming Events

  • Lifetime Income—Risks and Solutions (March 7): Panelists will examine lifetime income risks, current options for addressing these risks, and how the actuarial profession can contribute to current policy solutions to help retirees better prepare for managing lifetime retirement needs.

  • U.S. Qualification Standards—Key Aspects and your FAQs Answered (March 14): Panelists will provide a refresher on the U.S. Qualification Standards, offer an in-depth discussion on the more complicated aspects of qualifications and practicing U.S. actuaries (including changing practice areas and emerging practices), and clarify certain key provisions of the standards.

  • Risk Classification & the New Academy Monograph (March 15): Panelists will discuss the concepts underlying risk classification as it is applied in all actuarial practice areas. Based on the Academy Risk Classification Work Group’s monograph, On Risk Classification, the webinar will focus on the important role that risk classification can play in ensuring that such systems are successful.

Media Coverage

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