Academy News

The Risk Management and Financial Reporting Council wrote a letter to the Department of Treasury urging that actuarial science be one of the specific considerations for members of the proposed Financial Research Advisory Committee that will support the work of the Office of Financial Research. (April 13, 2012)

The proposed ASOP provides guidance to actuaries when performing professional services with respect to risk evaluation systems, including designing, implementing, using, and reviewing those systems. Comments are due June 30, 2012. (April 03, 2012)

Read about the Academy’s recent activities in the latest edition of the Actuarial Update. (March 30, 2012)

Read about recent health care reform activities in the latest edition of HealthCheck. (March 28, 2012)

The Academy’s Social Security Committee published a guide to analyzing Social Security reform proposals. Visit the Campaign 2012 Toolkit page for more information. (March 27, 2012)

As the U.S. Supreme Court prepared to hear arguments on the issue of severability, the Academy reiterated its position that the guaranteed-issue and community-rating provisions should stand or fall with the individual mandate. (March 27, 2012)

The Academy Board of Directors adopted at its October 28, 2011, meeting a recommendation from the Council on Professionalism that all Academy members who are members of any Academy board, committee, subcommittee, work group, task force, etc. ("committee") annually must comply and attest to their compliance with the continuing education (CE) requirements of the U.S. Qualification Standards to serve as members of such committee. Please see link for more information. Click here to learn more.  (March 26, 2012)

The Medical Professional Liability Committee sent a letter to the leadership of the U.S. House of Representatives concerning H.R. 5, which would reform the medical professional liability system and repeal the Independent Payment Advisory Board. (March 23, 2012)

Petitions for members to nominate a colleague or themselves for consideration as a candidate for Regular Director on the Academy Board of Directors are now available online at the Academy Board Election Center. Petitions are due by April 27. Read the March 22 member email for more details and links to additional information, including making nominations directly to the Nominating Committee. (March 22, 2012)

The Academy’s amicus brief on severability of the individual mandate from other provisions of the Affordable Care Act was cited in this week’s SCOTUS filing by the federal government (see pp. 8–9). The government brief referenced the Academy specifically. Given that more amicus briefs were filed in this matter than in any other in the history of the Supreme Court, and few were cited, that reference is a significant recognition of our credibility. (March 16, 2012)

Read about issues that affect pension actuaries and the Academy’s work to advance sound pension policy in the latest edition of the Enrolled Actuaries Report. (March 14, 2012)

The Academy’s Life Practice Council will present a webinar to review the NAIC Spring 2012 National Meeting and progress on the principle-based approach (PBA) to life reserves. The webinar will include updates on AG 38, Contingent Deferred Annuities, ORSA, new simplified mortality assumption for VM-20, and the activities of the Life Actuarial Task Force. Learn more. (March 09, 2012)

If you missed the March 7 webinar on lifetime income, you can download the slides for free or order a recording of the webinar for a small fee. Noel Abkemeier and Tonya Manning, co-chairpersons of the Academy’s Joint Lifetime Income Risk Task Force, provided an overview of the risks of inadequate lifetime income, current options to address the risks, and the range of policy solutions to help retirees better prepare for managing lifetime retirement needs. Tom Terry, chairperson of the Public Interest Committee, also announced new Academy initiatives underway to advance the discussions surrounding longevity risk. (March 07, 2012)

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.  (March 01, 2012)