The Pension Committee released a practice note, Selecting and Documenting Pension Assumptions Other Than Discount Rate, Investment Return, and Mortality, updating a 2009 practice note, revised to reflect updated actuarial standards of practice (ASOPs), including changes in ASOP Nos. 27 and 35 that are effective for actuarial reports issued on or after Aug. 1, 2021, and when the measurement date in such reports is on or after Aug. 1, 2021.
(June 21, 2023)The Life Reserves Work Group submitted a comment letter to the NAIC’s Life Actuarial (A) Task Force (LATF) on the extended April 20 exposure of APF 2023-06.
(June 16, 2023)The Pension Committee, Multiemployer Plans Committee, and Public Plans Committee submitted comments to the Actuarial Standards Board regarding the exposure draft of the proposed revision of Actuarial Standard of Practice (ASOP) No. 27, Selection of Assumptions for Measuring Pension Obligations and the repeal of ASOP No. 35, Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations.
(June 16, 2023)The Committee on Property Liability and Financial Reporting (COPLFR) submitted a comment letter to the Internal Revenue Service (IRS) on an exposure on Micro-Captive Listed Transactions and Micro-Captive Transactions of Interest.
(June 12, 2023)The Life Experience Committee released a Resource and Discussion Guide on an Actuarial Review of Investments in Actuarial Modeling.
(June 12, 2023)The Life Valuation Committee submitted a comment letter to the NAIC’s Life Actuarial (A) Task Force on the Optional AOM and PBR Actuarial Reporting Template for Interest Maintenance Reserve.
(June 09, 2023)The Life Valuation Committee submitted a comment letter to the NAIC’s Statutory Accounting Principles Working Group on 2023 Net Negative (Disallowed) Interest Maintenance Reserve (INT 23-01T).
(June 09, 2023)A public policy paper released by the Academy’s Climate Change Joint Committee, Climate Risks Pose Broad Impacts on Financial Security Systems, looks at the effects of a changing climate across all practice areas. The paper provides actuaries with a practical guide for considering a broad range of impacts that climate change may have on their work.
(June 07, 2023)The Climate Change Joint Committee published a glossary of climate-related terms appearing in Academy publications and presentations of Academy committees, subcommittees, and task forces.
(May 26, 2023)The Tax Work Group released a white paper, 2017 and 2021 Legislative Changes to the Definition of Life Insurance, that focuses on summarizing changes to the relevant sections of 7702 and 7702A of the Internal Revenue Code.
(May 18, 2023)The Life Reserves Work Group submitted a comment letter to the NAIC’s Life Actuarial (A) Task Force (LATF) on the April 20 exposure of APF 2023-06.
(May 12, 2023)The C1 Work Group submitted a comment letter to the NAIC’s Risk-Based Capital Investment Risk and Evaluation (E) Working Group on Exposure 2023-09-IRE – Interim Residual Tranche C1 Factor.
(May 12, 2023)The Index-Linked Variable Annuity Work Group submitted a comment letter to the ILVA Subgroup of the Product Standard Committee Interstate Insurance Product Regulation Commission on 2023 Compact Requirements for Index-Linked Variable Annuity Products.
(May 05, 2023)The Casualty Practice Council submitted a comment letter to the Actuarial Standards Board (ASB) on the second exposure draft of ASOP No. 29, Expense Provisions in Property/Casualty Insurance Ratemaking.
(May 01, 2023)
The Social Security Committee released Highlights from the 2023 Social Security Trustees Report, a one-pager detailing the latest annual report on the current and projected financial status of the trust funds.
(April 27, 2023)The Committee on Property Liability and Financial Reporting (COPLFR) submitted a comment letter to the National Association of Insurance Commissioners (NAIC) Casualty Actuarial and Statistical (C) Task Force proposing a modification to the Annual Statement blank that would eliminate the distinction between “short-tailed” and “long-tailed” lines of business in Schedule P.
(April 26, 2023)The Committee on Property Liability and Financial Reporting (COPLFR) and the Health Practice Council’s Committee on Financial Reporting and Solvency submitted a comment letter to the National Association of Insurance Commissioners (NAIC) Blanks Working Group on proposed exposure to add instructions for the appointed actuary and qualified actuary contacts to the Jurat electronic only section in order to address any actuarial questions.
(April 26, 2023)The Variable Annuity Reserve and Capital Work Group (VARCWG) submitted a comment letter to the NAIC’s Life Actuarial (A) Task Force (LATF) on APF 2023-05; specifically, hedging language to address index credit hedging in VM-21.
(April 19, 2023)The Life Reserves Work Group (LRWG) submitted a comment letter to the NAIC’s Life Actuarial (A) Task Force (LATF) on proposed changes to VM-20 outlined in APF 2023-03 (Part 1).
(April 19, 2023)The Active Benefits Committee released an issue brief focusing on the role of actuaries in employee benefits for health policy development.
(April 17, 2023)