Academy News

Read about President Obama’s decision to ask the Supreme Court to rule on the individual mandate requirement in the Affordable Care Act and the Medicare Steering Committee’s letter to the Joint Select Committee on Deficit Reduction in this issue of HealthCheck. (September 30, 2011)

The Academy's Social Security Committee urged President Obama and congressional leaders to improve the long-term solvency and sustainability of Social Security whether in a broader deficit-reduction package or through an alternative legislative track. (September 23, 2011)

The Academy's first-ever online election for open regular director positions on the board of directors ended Sept. 2. Also on the ballot were votes on two bylaws amendments—one implementing the profession-wide changes to the discipline process and another that shortens the term of the presidential office by one year by removing the position of penultimate past president from the Academy board of directors. Results will be announced on or before the Academy Annual Meeting Oct. 24. (September 15, 2011)

The Academy's Medicare Steering Committee urged the Joint Select Committee on Deficit Reduction to develop proposals to slow health care spending growth to improve the long-term solvency and sustainability of the Medicare program. (September 14, 2011)

The Academy's first-ever online election for open regular director positions on the board of directors launched Aug. 3. The election also includes votes on two bylaws amendments—one implementing the profession-wide changes to the discipline process and another that shortens the term of the presidential office by one year by removing the position of penultimate past president from the Academy board of directors. Members will receive an email in the name of the Academy from a mailbox at "directvote.net." The email will have instructions on how to log in to the secure election website and vote. The election will be open until Sept. 2, 2011. For more information on the election, visit the Academy Election Center. (August 31, 2011)

Academy President Mary Frances Miller has sent two letters to correct misstatements made about the Academy and the actuarial profession by third parties. In a letter to the National Association of Insurance Commissioners Life Actuarial Task Force, Miller defined the Academy's work in representing the U.S. actuarial profession on public policy issues and outlined the Academy's policies and procedures that help to maintain the objectivity of its work. In a second letter to the U.S. Treasury Department, Miller reinforced the value that actuaries could bring to the Federal Advisory Committee on Insurance and the actuarial profession's commitment to high professional standards. (August 31, 2011)

Read President Mary Frances Miller's message to Academy members announcing dates of the online balloting for Academy elections, the slate of candidates for open Regular Director positions to be voted on by the membership, the slate of candidates for presidential officers and vice presidents to be voted on by the Board of Directors, and the bylaws amendments to be voted on by the membership. (August 31, 2011)

Academy President Mary Frances Miller introduced a joint letter from the presidents of the U.S.-based actuarial organizations regarding a proposal to make improvements to the profession's discipline process in the United States. The joint letter introduced new resources for members to learn more about the proposal, including a working draft of a proposed agreement on joint discipline and an updated set of questions and answers related to the proposal. (August 31, 2011)

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. (August 31, 2011)

Actuary Kevin Bingham, who co-authored "Product Recall: Covering Your Bottom Line" in the March/April 2011 issue of Contingencies, highlights the risk of a product recall and how to plan for it in the Academy's newest YouTube video. Watch it now on the Academy's YouTube channel. (August 31, 2011)

Academy Public Interest Committee Chairperson Tom Terry sent a letter to House Ways and Means Social Security Subcommittee Chairman Sam Johnson and Ranking Member Xavier Becerra in response to follow-up questions from Terry's July 8 testimony on the Social Security retirement age. The letter addressed ways in which policymakers can boost incentives for older workers to work longer. (August 31, 2011)

Read this issue to learn about a recent court ruling on the individual mandate requirement in the Affordable Care Act and proposed rules relating to health exchanges and group health plans released by the Department of Health and Health and Human Services.

(August 31, 2011)

Due to the Friday's cancellation of the NAIC Summer 2011 National Meeting in Philadelphia, the Academy has cancelled the Post-NAIC Update/PBA webinar on Sept. 8. Registrants will receive a full refund within two weeks (in the same manner as paid). If you do not receive your refund within this time frame, please email Gabriel Swee at swee@actuary.org.
(August 31, 2011)

Polls will remain open until 11:59 p.m. ET on Sept. 2 and all Academy members (active as of July 14, 2011) are eligible to vote in this election. If you have not received an email (or paper) ballot, you may request a replacement ballot by emailing elections@actuary.org. For more information on the election, visit the Academy's Election Center.

(August 31, 2011)

Want to learn more about principle-based approach (PBA)? The Academy has been instrumental in the ambitious effort to modernize the framework for determining life insurers' statutory required capital and reserves in the United States. The proposed method, which is intended to be principle-based, uses risk analysis and risk management techniques to capture underlying life insurance and annuity risks more accurately than the current rule-based, one-size-fits-all approach. Learn more! (August 31, 2011)