Public Policy News

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)
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)
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)
The Casualty Practice Council’s Travel Insurance Task Force published a monograph, Travel Insurance: An Actuarial Perspective, which provides information on the manner in which travel insurance is designed, filed, priced, sold, and serviced. Read the news release (September 5, 2018)
The Individual and Small Group Markets Committee and its Risk Sharing Subcommittee submitted comments on the Centers for Medicare & Medicaid Services’ (CMS) and Department of Health and Human Services’ (HHS) Aug. 10 proposed rule regarding the adoption of methodology for the HHS-operated permanent risk adjustment program. (September 5, 2018)
The ERM/ORSA Committee submitted comments to the NAIC’s Financial Regulation Standards and Accreditation (F) Committee on their ORSA Review Timelines exposure (September 5, 2018)
A new issue brief produced by the Individual and Small Group Markets Committee, Auto-Enrollment Into Individual Market Health Insurance Coverage, provides insights on the potential and challenges of using auto-enrollment in the individual health insurance market, in particular by exploring current uses of auto-enrollment and what would be needed to implement auto-enrollment in the individual market. (September 4, 2018)
The Life Illustrations Work Group submitted a comment letter to the NAIC on draft changes to Model #582.  (August 31, 2018)
The Macroprudential Task Force submitted a comment letter to the NAIC on the exposed scope for liquidity stress testing.  (August 31, 2018)
Ted Goldman, the Academy's Senior Pension Fellow, testified before the U.S. Department of Labor's Advisory Council on Employee Welfare and Pension Benefit Plans at a hearing on "Lifetime Income Solutions as a Qualified Default Investment Alternative (QDIA) - Focus on Decumulaion and Rollovers." Read Goldman's testimony and presentation slides. (August 17, 2018)
The Academy's Life and Health Valuation Law Manual Task Force submitted a comment letter to the NAIC Life Actuarial (A) Task Force outlining recommended changes to the 2019 Life and Health Valuation Law Manual.  (August 16, 2018)
The Committee on Property and Liability Financial Reporting sent a comment letter to the California Department of Insurance on proposed changes to reporting requirements for large deductibles in workers’ compensation plans. (August 10, 2018)
Academy Past President Mary D. Miller on Friday submitted a comment letter from the Academy to the NAIC regarding the Casualty Actuarial and Statistical Task Force’s exposure draft related to the three-year experience requirement to sign statutory statements. In those comments Miller shared the Academy’s view that the exposure draft describes an approach that will neither clarify nor improve the current requirement. (August 10, 2018)
Chris Trost, chairperson of the C-2 Work Group, gave an update on the group's projects to the NAIC Life Risk-Based Capital (E) Working Group.  (August 4, 2018)
Laura Hanson, chairperson of the Life and Health Valuation Law Manual Task Force, gave an update on potential changes to the 2019 Manual.  (August 3, 2018)
Donna Claire, chairperson of the PBR Governance Work Group, provided an update on PBR adoption and Academy involvement to the Life Actuarial (A) Task Force.  (August 3, 2018)
Mary Bahna-Nolan, chairperson of the Life Experience Committee, presented an update to the Life Actuarial (A) Task Force on the Delphi Study, Accelerated Underwriting, and VM-51 data elements.  (August 2, 2018)
Chris Conrad, vice chairperson of the SVL Interest Rate Modernization Work Group, presented an update to the Life Actuarial (A) Task Force.  (August 2, 2018)
John Miller and Matt Coleman, co-chairpersons of the Annuity Reserves Work Group, presented an update to the Life Actuarial (A) Task Force on their annuity exclusion test efforts.  (August 2, 2018)
Paul Navratil, chairperson of the Longevity Risk Task Force, presented an update on the Longevity Risk Survey to the Life Actuarial (A) Task Force.  (August 2, 2018)