Academy News

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 23, 2013)

The Pension Committee published an issue brief addressing the Pension Benefit Guaranty Corporation’s deficit in its single-employer program.  The issue brief concludes that the agency’s methods and assumptions have produced a reasonable representation of the PBGC single-employer program’s current obligation and deficit.  The issue brief explains that while policymakers should explore new sources of income to address the deficit, immediate premium increases on plan sponsors are unnecessary and potentially counterproductive. Read the news release. (August 22, 2013)

The Life Practice Council sent its Legislation-In-Brief to the NAIC Principle-Based Reserving Implementation Task Force that outlines details of and support for the NAIC model Standard Valuation Law and PBR methodology.  The LPC plans to distribute the brief to state insurance regulators and legislators.   (August 20, 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 16, 2013)

Read about a new practice note on large group medical insurance reserves, an exposure draft on minimum value and the ACA, an upcoming ACA webinar, and legislative and regulatory news. (August 14, 2013)

Award-winning author, journalist, and radio and TV personality Stephen J. Dubner, co-author of the international bestsellers Freakonomics and Superfreakonomics, will share his wit and insight at the Academy’s annual meeting on Nov. 4. At this year’s event, held in conjunction with the CAS Annual Meeting in Minneapolis, the Academy also will install its 49th president, welcome new regular directors elected over the summer, and recognize recipients of three prestigious awards. Don’t’ miss it! (August 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. (August 09, 2013)

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)