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.

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.

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.

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.

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).

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.

The Active Benefits Committee released an issue brief focusing on the role of actuaries in employee benefits for health policy development.

The Workers' Compensation Committee released an issue brief providing an overview of medical marijuana laws and court cases—and the impact they have on the workers’ compensation system—to help actuaries navigate the complicated legal landscape.

The Medicare Committee released an issue brief focusing on the near and long-term financing challenges facing the Medicare program based on the 2023 Medicare Trustees Report.

The Life Valuation Committee submitted a comment letter to the National Association of Insurance Commissioners' Life Actuarial (A) Task Force (LATF) on the Valuation of Securities (VOS) Task Force’s referral to LATF on Bond Risk Measures.

The Long-term Care Reform Subcommittee sent a comment letter to the National Association of Insurance Commissioners (NAIC) Long-Term Care Actuarial (B) Working Group featuring an Academy issue brief, Long-Term Care Insurance: Considerations for Treatment of Past Losses in Rate Increase Requests (October 2018), in response to a working group concern about the lack of a consistent definition of “past losses” in the context of recoupment.

The Social Security Committee submitted an open letter to Congress introducing the Social Security Challenge, a web-based interactive simulation intended to inform, stimulate, and advance the public dialogue on Social Security solvency and the need for reform.

The Social Security Committee sent a letter to Members of Congress offering insights on the Social Security Challenge.

The Life Practice Council (LPC) presented on current and future LPC workstreams to the NAIC’s Life Actuarial (A) Task Force (LATF) meeting as part of the NAIC Spring National Meeting in Louisville, Ky.

Intersector Group notes from January 2023 conference call with Department of the Treasury and Internal Revenue Service.

Intersector Group notes from January 2023 conference call with Pension Benefit Guaranty Corporation.

Ronald Wilkins, vice chairperson of the Property and Casualty Risk-Based Capital (P/C RBC) Committee, presented preliminary results to NAIC's Property and Casualty Risk-Based Capital (E) Working Group to recalibrate the reserve and premium risk charges—notably, for investment income.

The Academy has released an Essential Elements paper based on the Social Security Committee’s March 2022 issue brief Raising the Social Security Retirement Age.

The retirement age is a key consideration in addressing Social Security’s long-term financial health.

Essential Elements is a series of concise and informative papers developed by the Academy, designed to provide a quick and easy-to-understand overview of key public policy issues of interest.

Academy Health Vice President Barb Klever provided an update on Health Practice Council activities to the NAIC’s Health Actuarial (B) Task Force (HATF) at NAIC’s 2023 Spring National Meeting.

Academy member Sam Gutterman presented on behalf of the Academy to the National Conference of Insurance Legislators’ (NCOIL) Spring Meeting in San Diego. He presented as part of NCOIL’s Special Environmental, Social, and Governance (ESG) Series on an “Introduction to ESG and Environmental Aspects: An Actuarial Perspective.”