Public Policy News

The Financial Regulatory Task Force submitted comments to the Federal Reserve Board (Fed) on its proposed rule on Enhanced Prudential Standards for Systemically Important Insurance Companies. (August 17, 2016)
The ERM/ORSA Committee provided a presentation to the National Association of Insurance Commissioners' (NAIC) ORSA Implementation (E) Subgroup on the committee's recently released ORSA and the Regulator policy paper and an ORSA risk exposures practice note. (August 10, 2016)
The Multiemployer Subcommittee released a comment letter on the Pension Benefit Guaranty Corporation’s (PBGC) proposed rule on mergers and transfers between multiemployer plans.
(August 5, 2016)
The Life Illustrations Work Group submitted comments to the NAIC's IUL Illustrations (A) Subgroup regarding the extension of Actuarial Guideline 49 (AG 49) to all inforce life insurance illustrations. (August 1, 2016)
The Life Operational Risk Work Group submitted comments to the NAIC's Operational Risk (E) Subgroup on how operational risk, including a prospective growth charge, might be better reflected in the Life Risk-Based Capital Formula. (July 27, 2016)
Academy Senior Health Fellow Cori Uccello and Karen Bender, chairperson of the Academy's Individual and Small Group Markets Committee, submitted testimony on the general factors underlying premium rate setting and the major components driving premium changes for 2017 under the Affordable Care Act to a U.S. House Ways and Means Committee hearing on rising health care premiums. (July 22, 2016)
The Financial Reporting Committee and the Committee on Property and Liability Financial Reporting sent a comment letter to the SEC on its concept release on the modernization of certain disclosure requirements in Regulation S-K. (July 21, 2016)
The latest issue of PBA Perspectives features updates on principle-based reserving as well as regulatory, legislative, and Academy activities surrounding the implementation of the principle-based approach (PBA) for life insurance. (July 15, 2016)
The SVL Interest Rate Modernization Work Group submitted comments to the NAIC's VM-22 Subgroup of the Life Actuarial Task Force (LATF) in a question-and-answer format on the determination of statutory valuation interest rates. (July 15, 2016)
The Pension Committee released a comment letter on the decision by the Internal Revenue Service (IRS) to limit pension actuaries’ ability to interact with IRS actuaries and other experienced employee-benefits personnel. (July 15, 2016)
The Life Reserves Work Group (LRWG) submitted comments to the NAIC's Life Actuarial Task Force (LATF) on the exposed NAIC staff Amendment Proposal Form (APF) on VM-20 product aggregation. (July 5, 2016)
The Life Practice Council submitted comments to the NAIC's Life Actuarial Task Force (LATF) on the qualified actuaries’ responsibilities to the interests of the company versus the commissioner. (June 30, 2016)
The Academy released its second issue of StateScan Quarterly, which now offers highlights of both state regulatory and legislative activities. This issue’s topics include principle-based reserving, Medicaid expansion, and insurance for ride-sharing operations that can be found through StateScan, the legislative/regulatory portal that is provided to Academy members. (June 30, 2016)
The ERM/ORSA Committee's Risk Exposures Subgroup released a practice note on quantifying risk exposures for Own Risk and Solvency Assessment (ORSA) reports. (June 27, 2016)
The Social Security Committee released an issue brief on the 2016 Social Security Trustees Report that examines the social insurance program’s long-term solvency issues and recommends that Congress should act soon to improve the long-term financial outlook of the program. (June 27, 2016)
The Medicare Subcommittee published an issue brief, “Medicare’s Financial Condition: Beyond Actuarial Balance,” on significant concerns about Medicare’s long-term financial health. (June 24, 2016)
The Role of the Actuary Subgroup submitted comments to the NAIC's Life Actuarial Task Force (LATF) on the Consolidated ACLI and Academy Amendment Proposal Form. (June 22, 2016)
The Pension Committee submitted a comment letter to the Pension Benefit Guarantee Corporation (PBGC) expressing appreciation for proposed regulations providing a reduction or partial waiver of the penalty due upon the late payment of premiums to the single employer and multiemployer insurance programs. (June 22, 2016)
The Joint American Academy of Actuaries Life Experience Committee and Society of Actuaries Preferred Mortality Oversight Group provided an update on guaranteed issue and preneed mortality to the Life Actuarial Task Force. (June 16, 2016)
The Role of the Actuary Subgroup submitted comments to the NAIC's Life Actuarial Task Force (LATF) on Section 4 of the Valuation Manual-G. (June 10, 2016)