This Week, June 24, 2011

Announcements

• 2011 Academy Volunteer Survey
  As a volunteer-driven organization, the Academy provides a wide variety of opportunities for actuaries in every practice area to get the most from their membership. The Academy also relies upon the active participation of more than 1,000 volunteers who lend their skill, knowledge, and experience to its work on professionalism and public policy issues. As a member, you have the opportunity to work on public policy issues and to build a rewarding, enriching career through volunteering. You can begin—or build upon—your volunteer work with the Academy by taking a moment now to respond to this year's volunteer survey, which is available on the members-only [1] section of the Academy website. Don't delay—the survey closes Friday, July 15.
• Nomination deadlines for Academy awards approaching
  The Academy is seeking to recognize outstanding members for their contributions and commitment to the profession through the Robert J. Myers Public Service Award [2] and the Jarvis Farley Service Award [3]. The deadline for the Myers award is July 8 and for the Farley award is July 12. Please take a moment now to nominate a deserving colleague and/or respected mentor.

Media Coverage

• Guest column: Waiting to collect retirement benefits may be best option [4]
  Green Bay Press-Gazette, June 19, 2011
  A personal finance column directed readers to the Academy's website [5] to learn more about Social Security reform.
• Containing federal health care costs is issue that goes back decades [6]
  The Catholic Sun (CNS), June 18, 2011
  The Academy's issue brief [7] on Medicare's financial condition was cited and the Academy's issue brief [8] on proposals to address Medicare's financial challenges was a source for a graphic on reform options.

Website: New Postings

• The Academy's Pension Practice Council and Public Plans Subcommittee submitted a comment letter [9] to the U.S. Securities and Exchange Commission requesting that public pension plans be excluded from the definition of "investment strategies." The letter also requested that enrolled actuaries and members of the five U.S.-based actuarial organizations be excluded from the definition of "municipal advisors" to the extent they are providing actuarial services that are governed by the Actuarial Standards of Practice and the Code of Professional Conduct.
• The Academy released a new issue brief [10], An Actuarial Perspective on Accountable Care Organizations. The issue brief provides an actuarial overview of accountable care organizations (ACOs) and outlines a number of issues that stakeholders should evaluate as ACOs are implemented.
• The Academy released a new fact sheet [11], Medicare Shared Savings Program under the Affordable Care Act. The fact sheet provides an overview of the Medicare Shared Savings Program and how ACOs are addressed in the ACA.
• The Academy's Financial Regulatory Reform Task Force submitted a letter [12] to the Department of the Treasury outlining the metrics intended to aid in identifying systemic risk in the insurance sector.

Upcoming Events

• Attendees are eligible to earn continuing education credits for the June 29 professionalism webinar: The Profession's Responsibility to the Public [13]. Join the Academy for this live 90-minute webinar to learn more about what it means to fulfill this responsibility. Presenters also will discuss Precept 1 of the Code of Professional Conduct, the state of the profession, and the key aspects on maintaining the profession's relevance. Don't miss out on earning these essential credits—register today [13]!
• Do you still need to meet specific knowledge requirements to issue actuarial opinions either for the NAIC Life and A&H Annual Statement or the NAIC Health Annual Statement? The Academy's November seminar, 2011 Life and Health Qualification Seminar [14], is the primary source of instruction for actuaries who wish to be qualified. Experienced FSAs and career ASAs intending to change practice areas, or those looking for an excellent source of continuing education required under the U.S. Qualification Standards also should attend. Seats are limited—register today [14]!

Recently Released Publications

• June HealthCheck: [15] The Academy's Health Care Quality Work Group released an issue paper and fact sheet on ACOs, and the Risk Sharing Work Group released an issue paper on risk-sharing provisions in the ACA. Read this issue of HealthCheck to learn more about these publications and other recent health care reform activities.

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