Public Policy News

Ted Goldman, the Academy’s Senior Pension fellow, testified before the Joint Select Committee on Solvency of Multiemployer Pension Plans at a hearing on “The History and Structure of the Multiemployer Pension System.” Watch the full committee hearing here (Goldman’s testimony begins at the 58m 44s mark) and read Goldman’s testimony here. (April 18, 2018)
The Academy released a quiz on lifetime income that poses questions and answers to help consumers understand the issues and concepts behind planning a sound lifetime income strategy.
(April 13, 2018)
The Academy hosted a Capitol Hill briefing on lifetime income. The presentation highlighted public policy options and practical tools that can help to secure lifetime incomes for retirees. (April 13, 2018)
The Academy published a new Essential Elements paper, Income to Last a Lifetime, highlighting the challenges that workers face in planning for the risk that they may live longer in retirement than expected, and outlining public policy approaches to help future retirees secure and manage their lifetime income. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences. (April 12, 2018)
The Individual and Small Group Markets Committee sent comments on a proposed rule that would lengthen the maximum period of short-term, limited-duration (STLD) insurance through amending the definition of STLD. (April 6, 2018)
The Pension Committee released an issue brief that analyzes the Pension Protection Act of 2006 (PPA) against the principles underlying funding reform.  (April 6, 2018)
The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC Life Insurance Buyer's Guide (A) Working Group on their recent exposure draft.  (April 4, 2018)
The RBC Tax Reform Work Group submitted a comment letter to the NAIC on suggested changes to risk-based capital calculations.  (April 3, 2018)
Craig Hanna, director of public policy, presented to the NAIC's Climate Change and Global Warming (C) Working Group on the Actuaries Climate Index and the Actuaries Climate Risk Index.
(March 24, 2018)
Wayne Stuenkel, chairperson of the RBC Tax Reform Work Group, presented an update on the effects of tax reform to the NAIC's Life-Risk Based Capital Working Group.  (March 24, 2018)
The PBA Governance Work Group presented an update on Academy involvement with PBR to the NAIC's Life Actuarial (A) Task Force.  (March 23, 2018)
Mary Bahna-Nolan, chairperson of the Life Experience Committee, presented to the NAIC's Life Actuarial (A) Task Force on guaranteed issue (GI) reserve comparison using different mortality bases.  (March 22, 2018)
Mary Bahna-Nolan, chairperson of the Life Experience Committee, submitted a letter to the NAIC's Life Actuarial (A) Task Force in response to comments from the American Council of Life Insurers (ACLI) on accelerated underwriting data elements.  (March 22, 2018)
Tricia Matson, Chairperson of the Longevity Risk Task Force, presented an update to the NAIC's Life Actuarial (A) Task Force on the Academy's proposed longevity risk field study.  (March 22, 2018)
The Financial Reporting Committee submitted implementation questions for consideration by the IFRS Transitions Resource Group on IFRS 17 Insurance Contracts. (March 22, 2018)
Chris Whitney, member of the Life Reserves Work Group, gave a presentation on deterministic reserve considerations for indexed universal life (UL) under VM-20 to the NAIC's Life Actuarial (A) Task Force.  (March 22, 2018)
The Workers’ Compensation Committee provided comments to the NAIC’s Workers’ Compensation Task Force, describing the difficulty of comparing rates from one state to another. (March 16, 2018)
The RBC Tax Reform Work Group submitted a comment letter to the NAIC's Life Risk-Based Capital (E) Working Group on changes to Risk-Based Capital calculations due to recent U.S. corporate tax reform.  (March 16, 2018)
The Multiemployer Plans Committee sent a letter to the Joint Select Committee on Solvency of Multiemployer Pension Plans offering the expertise of the Multiemployer Plans Committee as a resource to the Joint Select Committee. (March 12, 2018)
Past Academy President Mary D. Miller submitted two letters from the Academy to the NAIC this week—one responding to NAIC’s Casualty Actuarial and Statistical Task Force’s (CASTF) request for comments on the appointed actuary’s public attestation and supporting confidential documentation, and a second responding to CASTF’s request for proposals on the three-year experience period.
(March 9, 2018)