Academy News

Online voting for the four open regular director positions on the Academy board will open August 26. Academy members will receive an email on August 12 from Intelliscan, our election vendor, announcing that Academy election information will be sent to you soon. This email will come from elections@intelliscaninc.net. Please be sure to add it to your safe senders list and to check your Spam folder to make sure you receive it. Read Academy President Cecil Bykerk's message to members on the election process and upcoming dates. (August 08, 2013)

Reforms introduced by the Affordable Care Act (ACA) may create uncertainty for health insurance issuers. What does this uncertainty mean for your future financial statements, especially given increased ACA requirements for actuarial estimates in financial reporting? Register for the Aug. 22 webinar to learn about the financial reporting implications of several key provisions of the ACA—premium stabilization programs, new taxes and fees, advanced payments, and existing actuarial liabilities. (August 07, 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. (August 02, 2013)

Read about Summer Summit activities, upcoming regular director elections, Academy presentations at NCOIL, ACA financial reporting issues, ASOP exposure drafts, and much more! (July 31, 2013)

Detroit’s pension shortfall has drawn new attention to long-standing issues regarding the risks of public pension plans. Learn about the American Academy of Actuaries’ work to raise awareness of these risks and educate stakeholders about solutions. (July 31, 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. (July 26, 2013)

On July 22, Academy President Cecil Bykerk sent a letter to the editor of The New York Times pointing out that a story regarding Detroit’s pension shortfall mischaracterized actuaries as “running” pension plans and urging the Times to report on “the causes and the fiscally sound and sustainable solutions” for troubled public pension plans. The Times subsequently issued the following correction: “An article on Saturday about a dispute among actuaries over how to calculate the present value of future pensions misstated the role of actuaries in pension plans. The actuary keeps track of plan members’ data, calculates how much money must be contributed every year and advises the board on key assumptions like future investment returns; the actuary does not ‘run’ the plan.” (July 25, 2013)

Life PBR—The New Valuation World (Sept. 24–25): Register now for this interactive seminar that will combine instructor-led training with small-group discussions on the practical application of the principle-based reserving mechanics as outlined in VM-20. Principle-based reserve experts will discuss the latest developments, including the new PBR Actuarial Standard of Practice and PBR practice note—both expected to be completed this year. (July 24, 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. (July 19, 2013)

Senior Life Fellow Nancy Bennett presented on annuities regulation at the National Conference of Insurance Legislators Summer Meeting. (July 13, 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. (July 12, 2013)

Casualty VP Mike Angelina presented an actuarial perspective on the future of the National Flood Insurance Program following the 2012 passage of the Biggert-Waters Flood Insurance Reform Act to state legislators at the National Conference of Insurance Legislators Summer Meeting. (July 11, 2013)

Read about the Academy’s response to the Medicare Trustees Report, a new white paper from the Health Practice Financial Reporting Committee, new HHS final rules, and Academy experts in the news. (July 10, 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. (July 05, 2013)

The Academy’s Nominating Committee has selected four excellent candidates for the upcoming regular director election by members, which will be held online from Aug. 26 through Sept. 16. The candidates are: Thomas Campbell, Albert Beer, Audrey Halvorson, and Annie Voldman. Click here to read Academy President Cecil Bykerk’s announcement, or visit the Academy Board Election Center for the latest updates. (July 03, 2013)