Academy News

The Medicare slide decks—the first topic to be addressed in the Academy’s Campaign 2012 Toolkits series—include an overview of the structure of Medicare, the challenges to the program’s solvency and sustainability, and options that have been proposed to reform the program. You can download these files here: (December 23, 2011)

The December Actuarial Update features profiles of incoming ABCD Chairperson Paul Fleischacker and incoming ASB Chairperson Robert Meilander. Other newsletter highlights include a look at the December Professionalism webinar on international issues and the new online 2012 election toolkits.  (December 22, 2011)

Life Practice Council Vice President Cande Olsen made a presentation to the NAIC’s  Contingent Deferred Annuity (A) Subgroup on the Academy’s Contingent Annuity Work Group’s report that was submitted to the NAIC on October 28. (December 22, 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. (December 19, 2011)

The Academy and the Society of Actuaries (SOA) have joined resources to manage the economic scenario generators used in regulatory reserve and capital calculations. The latest version of the interest rate and equity generator is now on the SOA website. The SOA will provide frontline support and maintenance for the economic scenario generators. A joint Society of Actuaries/American Academy of Actuaries Project Oversight Group will oversee the generators and assist the SOA in providing technical support and direction for the current and future versions of the generators. All versions of the generators, pre-packaged scenario sets, and documentation will be archived on the Academy website. Academy members involved in creating and updating the generators will continue to work with the regulatory community and the SOA to refine the generators and implement regulatory requirements for economic scenario generators. Support questions should be directed to: (December 16, 2011)

Robert Meilander has been appointed chairperson of the Actuarial Standards Board, and Paul Fleischacker has been appointed chairperson of the Actuarial Board for Counseling and Discipline. Their terms will begin on Jan. 1, 2012. (December 15, 2011)

In this webinar, Council on Professionalism members Curtis Huntington and Godfrey Perrott discuss the International Actuarial Association and how its activities potentially affect U.S. actuaries. Presenters also discuss why actuaries should keep up with current international events and stay informed of proposed changes. (December 15, 2011)

2012 membership dues remain at the same level as 2011. If you haven’t paid your 2012 dues, click here to conveniently pay online before Jan. 1. Now is also a good time to ensure your member profile is up to date, make any necessary changes, and sign up for Academy alerts—timely online bulletins about legislative and regulatory developments that keep you informed. Log in now to pay your dues, print your invoice, or to update your profile.  (December 12, 2011)

The Financial Regulatory Reform Task Force responded to the Federal Insurance Office on how to modernize and improve the U.S. system of insurance regulation. (December 11, 2011)

Join the Academy’s Council on Professionalism on Dec. 15 to learn more about the International Actuarial Association and how its activities may affect you as a U.S. actuary. As the global economy affects our own economy and progress, actuaries—regardless of where they live—need to keep up with current international events and stay informed of proposed changes that may affect how they approach their U.S. practice. Click here to learn more.  (December 06, 2011)

The Academy submitted written comments to the International Actuarial Association (IAA) in response to its exposure draft on model International Standard of Actuarial Practice (ISAP) 1–General Actuarial Practice. Mary Frances Miller, then the Academy’s president, advised members in October that the IAA had released its first exposure draft to IAA member associations and individual actuaries for comment. The Actuarial Standards Board (ASB) provided a report to the U.S.-based actuarial associations on the proposed ISAP and also submitted a comment letter that was strongly endorsed by the Academy. To learn more, read the Academy’s comment letter, Miller’s message, and the ASB’s report and comment letter. (December 02, 2011)

Click here to order your copy. The law manual is designed to help appointed actuaries comply with the NAIC annual statement requirements for statements of actuarial opinion. (December 02, 2011)

The Academy announced that Keith Jones is its new general counsel and professionalism director. (November 30, 2011)

Read about the Academy’s Annual Meeting and Awards Luncheon, which featured the ceremonial passing-of-the-gavel to 2012 President Dave Sandberg and election predictions by keynote speaker Nate Silver. Other highlights of this newsletter include a look at the new officers on the Academy’s board of directors, profiles of the 2011 Myers and Farley award winners, and an update on developments in health care reform. (November 30, 2011)