This Week, March 26-30, 2012

Recent Events

• The actuarial perspective was heard repeatedly in the Supreme Court this week during oral arguments on the legal challenge to the Affordable Care Act (ACA). See the indexed transcripts of Tuesday’s hearing [2] on the individual mandate and Wednesday’s hearing [3] on severability. Read the Academy’s March 27 press release [4] and Jan. 27 amicus brief [5].
• Academy President Dave Sandberg encouraged attendees at the 37th annual Enrolled Actuaries (EA) meeting this week to “examine our most pressing retirement issues through an ERM (enterprise risk management) prism.” Welcoming more than 700 registered attendees, Sandberg noted that “to ensure the fiscal reliability of our nation’s retirement plans, today’s enrolled actuaries will need to be professionals who can manage—and I hope thrive on—change.”
• Change and perspective were front and center at the post-EA meeting Pension Symposium. “Lifetime Income—Living with Longevity,” took a deep dive on some vexing issues for the profession. How do we manage longevity risk? What’s needed—policy changes or public education, or both? Can and should actuaries help to inform this dialogue and if so, how? Discussions inside the profession and with stakeholders will continue as the Academy continues its lifetime income initiative.
• More than 140 registered sites participated in the March 29 Post-NAIC/PBA Webinar—the 23rd in the series. The webinar focused on the principle-based reserving efforts of the NAIC’s Life Actuarial Task Force at the NAIC spring meeting in New Orleans. Presenters also reviewed other NAIC initiatives, including ORSA, Contingent Deferred Annuities, and Actuarial Guideline 38. Download the presentation slides [6] for free or purchase the audio [7] recording.

Academy News

• Do you know an exceptional Academy member? Nominations for the Academy’s annual service awards—the Jarvis Farley Service Award [8] and Robert J. Myers Public Service Award [9]—are now being accepted. These distinguished awards are given to members who have demonstrated an exemplary commitment to their profession through Academy volunteer work or public service.

Recently Released Publications

• March Actuarial Update [10]: Read about the annual Capitol Hill visits by members of the Health Practice Council and Federal Health Committee. Other highlights include details about the Academy’s lifetime income initiative and the availability of petitions to nominate [11] members for election as a Regular Director on the Academy Board of Directors.
• March HealthCheck [12]: Two years after the ACA was passed the Supreme Court hears arguments on the constitutional challenge to the ACA. The Department of Health and Human Services issues final rules implementing a number of ACA provisions.

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