This Week (May 29-June 1, 2012)

Upcoming Events

The Council on Professionalism’s June 25 webinar will feature ABCD members Curtis Huntington and Kathy Riley discussing the process for requesting guidance and using several case studies as examples. Register now! [1]

By now, you should have received the Academy’s Annual Volunteer Survey. This is an opportunity for members to express their interest in taking part in the important work of the Academy. Serving on an Academy committee offers many benefits—from professional development to networking—while contributing time, talent, and expertise to advance the profession. If you didn’t receive the survey via email, log in to the members-only side [2] of the web site.

Recently Released Publications

The May issue of Actuarial Update [3] features an article on recent congressional efforts to stabilize pension funding. Also included: a report on nominees for 2013 Academy officers; a special report on how the terms “actuarially sound” and “actuarial soundness” are used across practice areas; details on two upcoming member surveys; and a profile of political analyst Stu Rothenberg, who will speak at the Academy’s annual meeting.

The new issue of Health Check [4] includes the latest on health care reform: HHS and IRS notices, and the Academy’s most recent issue briefs and comments.

The Academy’s Social Security Committee released three issue briefs this week. The annual Issue Brief on the 2012 Social Security Trustees Report [5] offers readers an actuarial perspective on Social Security’s financial condition and outlines several public policy options to address the program’s long-term fiscal sustainability. The annual Understanding the Assumptions Used to Evaluate Social Security’s Financial Condition [6] updates and evaluates the demographic and economic assumptions used to make financial projections. The committee also published a new issue brief on the Significance of the Social Security Trust Funds [7], which examines the significance of the trust fund assets from three different perspectives: the Social Security system, the unified federal budget, and the entire economy.

The Academy’s Joint Committee on Retiree Health submitted comments to the Actuarial Standards Board on two exposure drafts: ASOP No. 4 [8], Measuring Pension Obligations and Determining Pension Plan Costs or Contributions, ASOP No. 27 [9], Selection of Economic Assumptions for Measuring Pension Obligations.

In the News

LifeHealthPro (“Actuaries: Medicare Trust Fund Looks Awful [10]”) reported on the Academy’s brief on the Medicare trustees’ report, including its recommendation that Congress take action sooner rather than later.

In an extensive report (“Can Workers Offset Social Security Cuts by Working Longer? [11]”), the Economic Policy Institute cites the Academy’s 2010 publication, Raising the Retirement Age for Social Security.

A 1995 Contingencies article is quoted in an Advisors4Advisors.com blog post, “Is the Veralytic Report A Useful Tool For Advisors in Evaluating Life Insurance? [12]” (see numeral 7).

Publication Date:

June 01, 2012