Academy News

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)

ASOP No. 1, Introductory Actuarial Standard of Practice, is a complete revision of the previous Introduction. It includes new, additional content as well as clarification of prior language, and sets the “ground rules” for all ASOPs. Read ASOP No. 1 now and stay tuned for more learning opportunities about its guidance coming in June. (May 01, 2013)

Read about policy initiatives to shore up retirement security in the United States, what it takes to be a successful entrepreneur, a fresh look at actuarial reserving methods, one man’s path to patenting the modeling algorithm he developed, and much more. (May 01, 2013)

Read about the Academy’s work at the Enrolled Actuaries Meeting, the Health Practice Council’s Capitol Hill visits, and the NAIC’s Spring national meeting, as well as the Academy’s response to a Wall Street Journal op-ed on actuaries and pension funding. (April 30, 2013)

The Rate Review Practice Note Work Group released for comment an addendum to the October 2012 practice note, Actuarial Practices Relating to Preparing, Reviewing, and Commenting on Rate Filings Prepared in Accordance with the Affordable Care Act. Comments on the addendum, which highlights changes to the rate review and disclosure requirements since the initial practice note was finalized, are due by June 3. (April 26, 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. (April 26, 2013)

The Life Practice Council presented a webinar reviewing the NAIC Spring 2013 National Meeting and progress on the principle-based approach (PBA) to life reserves. The December 23 webinar included updates on the activities of the NAIC’s Life Actuarial Task Force, PBR Implementation (EX) Task Force, Joint Qualified Actuary (A/B/C) Subgroup, and the Emerging Actuarial Issues (E) Working Group.  In addition the webinar covered Academy PBR efforts as well as a information on current professionalism issues. (April 23, 2013)