Academy News

Five years have passed since the U.S. Qualification Standards (QS) were last revised and effectuated. As such the Academy’s Committee on Qualifications (Committee) has decided to undertake a review to determine if there is a need to start the process of considering revisions to the QS. The Academy’s Board of Directors approved the Committee’s plans to begin this process and therefore the Committee is asking all actuaries and the public to provide comments. Learn more about what areas are of particular interest and how you can submit comments. (May 28, 2013)

Read the latest issue of This Week—the Academy’s end-of-week digital newsletter, compiling a week's worth of news, updates, and media coverage in one convenient, easy-to-use publication. (May 24, 2013)

Senior Pension Fellow Donald Fuerst testified at a House Committee on Ways and Means Subcommittee hearing on Social Security that examined bipartisan proposals to adjust Social Security benefits and their impacts on the program’s solvency, beneficiaries, workers, and the economy. Fuerst said that raising the full retirement age could help mitigate Social Security’s long-range financial problems and that addressing Social Security’s solvency now would permit more modest changes to be phased in gradually. (May 23, 2013)

Read about the Academy’s pension policy activities in this issue. (May 23, 2013)

On May 20, American Academy of Actuaries Senior Health Fellow Cori Uccello told the U.S. House of Representatives’ Energy and Commerce Committee’s Subcommittee on Oversight and Investigations that the Affordable Care Act’s health insurance issue and rating rules that apply to the individual and small group markets, which take effect Jan. 1, 2014, “will affect not only overall average premiums, but also the specific premiums that people will face. Premium changes due to the ACA health insurance market reform rules will vary across states and among individuals and will reflect many factors…” Uccello described these factors in her testimony before the subcommittee during its hearing on “Health Insurance Premiums Under the Patient Protection and Affordable Care Act.” Read Uccello’s statement. (May 22, 2013)

With more than 17,500 members, the Academy relies upon the active participation of over a thousand volunteers from every practice area who lend their skill, knowledge, and experience to the Academy's work on public policy issues and professionalism. Members have been invited to complete the Academy's Annual Volunteer Survey via individual email blast. The survey is also available on the members-only section of the Academy website until Friday, May 24, 2013. (May 20, 2013)

Comptroller General and Head of the U.S. Government Accountability Office (GAO), Gene L. Dodaro, presented to the Academy’s board of directors at its May meeting in Washington. Dodaro discussed systems and processes ensuring objectivity of all GAO work, overall budget environment in the near and long term, debt held by the public under two fiscal policy simulations, the GAO’s high-risk list, limiting the federal government's fiscal exposure by better managing climate change risks, national flood insurance program, improving and modernizing federal disability programs, and modernizing the U.S. financial regulatory system. A theme throughout the presentation and discussion was how GAO’s work is produced under rigorous standards that ensure objectivity and independence, underlined by several mentions of how the GAO's credibility depends on the perception - and the reality—that its work has been carried out with integrity and ethical principles. (May 17, 2013)

Read the latest issue of This Week—the Academy’s end-of-week digital newsletter, compiling a week's worth of news, updates, and media coverage in one convenient, easy-to-use publication. (May 17, 2013)

Visit the Academy board election page now to see the slate of officers, to be led by Mary D. Miller as President-Elect, to be elected by the Academy Board in October. There is also information about the ongoing Nominating Committee process to fill four regular director positions that will be open for election in the Academy’s third online election in the summer. The deadline for submitting regular director nominations directly to the Nominating Committee is June 7th. After that, candidates who would like to be considered by the Nominating Committee will need to submit petitions to do so. (May 16, 2013)

The American Academy of Actuaries will host a May 17 Hill briefing on how changes to health insurance premiums stemming from the Affordable Care Act (ACA) could vary considerably. Experts will present basic premium concepts; provisions in the ACA that affect premiums; and, how the provisions in ACA may change premiums. (May 12, 2013)

Read the latest issue of This Week—the Academy’s end-of-week digital newsletter, compiling a week's worth of news, updates, and media coverage in one convenient, easy-to-use publication. (May 10, 2013)

Changes coming in 2014 to health insurance premiums stemming from the Affordable Care Act (ACA) will reflect several factors and could vary considerably, according to the American Academy of Actuaries’ new issue brief, How Will Premiums Change Under the ACA? Factors affecting premium changes include: effectiveness of the mandate, plan generosity requirements, employer responses, differences from current state rules, and individual risk characteristics. Read the news release. (May 09, 2013)

Read about recent health care reform activities in the latest edition. (May 08, 2013)

Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week's worth of news, updates, and media coverage in one convenient, easy-to-use publication. (May 03, 2013)

The ABCD seeks the benefit of your comments and suggestions regarding its proposed revisions to the ABCD Rules of Procedure. An exposure draft of the proposed revisions can be found on the ABCD website. Deadline to submit your comments to the ABCD is June 30, 2013. (May 02, 2013)