Public Policy

The Academy, through its public policy work, seeks to address pressing issues that require or would benefit by the sound application of actuarial principles. The Academy provides unbiased actuarial expertise and advice to public policy decision makers and stakeholders at the state, federal and international levels in all areas of actuarial qualifications. It also advocates on behalf of the profession and promotes the use of actuaries in non-traditional areas.

Public Interest
Public Interest
The Public Interest Committee (PIC) identifies areas in which the Academy should be speaking out in the public interest. Issues addressed have included raising Social Security’s retirement age and public pension plans.
Casualty
Casualty
The Casualty Practice Council (CPC) provides objective technical expertise to policymakers and regulators on major property/casualty issues, including medical professional liability and flood insurance.
Health
Health
The Health Practice Council (HPC) provides objective technical expertise to policymakers and regulators on major health insurance and health care affordability issues, including Medicare.
Life
Life
The Life Practice Council (LPC) provides objective technical expertise to policymakers and regulators on life insurance issues, including a principle-based regulatory approach to reserving and risk-based capital.
Pension
Pension
The Pension Practice Council (PPC) provides objective technical expertise to policymakers and regulators on major retirement policy issues, including Social Security, defined benefit pension plans, and retiree health.
Risk Management and Financial Reporting
Risk Management and Financial Reporting
The Risk Management and Financial Reporting Council (RMFRC) provides objective technical expertise to policymakers and regulators on issues involving risk management and/or financial reporting.

Public Policy News

Solvency Committee Submits Comments to NAIC on Group Capital Calculation
The Solvency Committee submitted comments to the NAIC's Group Capital Calculation (E) Working Group on scope and non-insurance testing. (September 20, 2018)
Big Data Task Force Submits Comments to U.S. Senate Committee on Banking, Housing, and Urban Affairs Ahead of FinTech Hearing
The Big Data Task Force submitted comments ahead of the U.S. Senate Committee on Banking, Housing, and Urban Affairs' hearing, Fintech: Examining Digitization, Data, and Technology. (September 17, 2018)
Intersector Group Issues Alert on Deductibility of Contributions to DB Plans
The Intersector Group released an Academy Alert highlighting time-sensitive information in advance of the publication of the notes from its April 4 meetings with the Internal Revenue Service (IRS) and the U.S. Department of the Treasury. The Intersector Group has chosen to release the following information now due to the time-sensitive nature for plan sponsors who are considering making contributions to defined benefit (DB) plans on Sept. 15. The full minutes of the group’s meeting with the IRS and Treasury will be published in the near future.
(September 14, 2018)
Work Group Submits Revised APF on Aggregation of Mortality Segments
The Life Reserves Work Group submitted a revised amendment proposal form to the NAIC on the aggregation of mortality segments for the purpose of determining credibility.  (September 12, 2018)
Work Group Submits Guidance Document on Interpretation of LRBC Results in Light of the 2017 Tax Cuts and Jobs Act
The RBC Tax Reform Work Group submitted a guidance document to the NAIC on the interpretation of life risk-based capital results in light of the 2017 Tax Cuts and Jobs Act.  (September 7, 2018)
More Public Policy News...

PUBLIC POLICY STATEMENTS

Comments and letters

Comments, analysis, or explanatory material prepared for an external audience on behalf of an Academy group or the Academy as a whole; these include letters, memos, reports, and fact sheets.

Issue briefs

Analyses of major actuarial or public policy issues written primarily for: policy-makers, regulators, the news media, and the public.

Policy papers

Include white papers and monographs which are longer, more detailed analyses of major actuarial or public policy issues written primarily for: policy-makers, regulators, the news media, and the public. Includes monographs and white papers.

Presentations

Slides presented by the Academy at webinars, seminars, briefings, hearings, or other meetings and events.

Reports to the NAIC

The Academy works with the National Association of Insurance Commissioners (NAIC) on the creation and refinement of sensible, effective regulation. These reports and related documents highlight the NAIC-related work of Academy practice councils.

Testimony

Written and oral testimony provided to Congress or to other governmental and quasigovernmental bodies.

Practice Notes

Practice notes

Practice notes offer examples of current and emerging approaches to selected actuarial tasks. They are intended to supplement the available actuarial literature, especially where the practices addressed are subject to evolving technology, recently adopted external requirements, or advances in actuarial science and other applicable disciplines.