Committee Publishes Practice Note on Valuing Benefits Payable as a Lump Sum

February 22, 2019
The Pension Committee published a practice note discussing the valuation of lump sum benefits for financial accounting purposes. 

Committees Submit Comments to the Bipartisan Policy Center on its 2016 Report

February 22, 2019
The Lifetime Income Risk Joint Committee, Retirement System Assessment and Policy Committee and Social Security Committee submitted a comment letter to the Bipartisan Policy Center on its 2016 Report of the Commission on Retirement Security and Personal Savings.

Life Experience Committee Submits Comment Letter to NAIC Addressing Questions Raised During The Fall 2018 National Meeting

February 19, 2019
The Life Experience Committee sent a comment letter to the Life Actuarial (A) Task Force to address questions that were raised during the NAIC Fall 2018 National Meeting regarding the current process used to develop the AG38 and VM-20 annual mortality improvement scale recommendations. 

Work Group Submits Comment Letter to NAIC on Exposed APF

February 19, 2019
The Life Reserves Work Group submitted a comment letter to the Life Actuarial (A) Task Force regarding exposed APF 2019-04, which seeks to provide clarification for expense allowance formulas for universal life with secondary guarantee (ULSG).

Committee and Subcommittee Comments on Proposed Notice of Benefit and Payment Parameters for 2020

February 19, 2019
The Individual and Small Group Markets Committee and the Risk Sharing Subcommittee submitted comments on the proposed rule for the 2020 notice of benefit and payment parameters (NBPP).

Work Group Submits Comment Letter to NAIC on Exposed Guidance Document on RBC Results for 2018

February 19, 2019
The RBC Tax Reform Work Group submitted a comment letter to the NAIC Life Risk-Based Capital Working Group on their exposed guidance document on the Interpretation of 2018 Life Risk-Based Capital Results.

This Week: Wildsmith Elected to Academy Board to Focus on International Issues; Updated Life Practice Note; Public Employment Opportunity

February 15, 2019
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.

Work Group Updates Practice Note To Reflect Changes to Tax Law

February 15, 2019
The Life Illustrations Work Group updated their 2018 practice note to reflect implications from the 2017 passage of the Tax Cuts and Jobs Act, pertinent to ASOP No. 24. 

Academy Submits Comment Letter To CASTF On Draft P/C 2019 Statement Of Actuarial Opinion Instructions

February 15, 2019
Mary D. Miller, on behalf of the American Academy of Actuaries, submitted a comment letter to the Casualty Actuarial and Statistical (C) Task Force (CASTF) to the CASTF 's draft qualification and related documentation requirements and copy of a letter to the Executive (EX) Committee's Ad Hoc commissioner group’s proposed changes of the Property and Casualty 2019 Actuarial Opinion Instructions, including the Ad Hoc Group's draft qualified actuary definition.

Academy Submits Letter to Ad Hoc Commissioner Group on Proposed Changes to Property and Casualty 2019 Actuarial Opinion Instructions

February 15, 2019
Mary D. Miller, on behalf of the American Academy of Actuaries, submitted a comment letter pertaining to the Executive (EX) Committee's Ad Hoc commissioner group’s proposed changes of the Property and Casualty 2019 Actuarial Opinion Instructions, including the Ad Hoc Group's draft qualified actuary definition.