The C-3 Work Group made a recommendation to NAIC’s Life-Based Capital Working Group on an approach for updating regulatory risk-based capital requirements for interest rate risk for fixed annuities and single premium life insurance.( )
The ORSA Subgroup submitted comments to the NAIC's Risk-Focused Surveillance Working Group on draft ORSA guidance that will be included in the Financial Analysis Handbook and the Financial Condition Examiners Handbook.( )
The Life Practice Council sent a comment letter to the Life Actuarial Task Force on the ACLI’s proposed small company exemption to VM-20.
The P/C Risk-Based Capital Committee submitted comments to the National Association of Insurance Commissioners on the Reinsurance Association of America's updated proposal on credit risk factors.( )
The AG 43/C-3 Phase II Work Group sent a comment letter to the NAIC on ACLI proposals for modification of reserve and capital requirements for contingent deferred annuities.( )
The Separate Account Products Work Group made additional comments on the Potential Actions/Recommendations (Document 2) exposed for comment in November 2013 by the NAIC Separate Account Risk (E) Working Group.
The Social Security Committee updated its issue brief on the quantitative measures policymakers can use while evaluating Social Security reform.( )
Intersector Group releases a report to the Pension Practice Council containing notes from its March 2014 meeting with the Pension Benefit Guaranty Corporation.( )
The Academy hosted Retirement for the AGES: Measuring for Success, a forum that brought together retirement community leaders for an in-depth discussion and thought-provoking assessment of retirement plans and current proposals, based on the Academy’s Retirement for the AGES framework for retirement-income systems.( )
The Minimum Value Practice Note Work Group released a final practice note related to determinations of minimum value (MV) and actuarial value (AV) under the Affordable Care Act (ACA), which includes a discussion of plan designs not accommodated by the calculators.( )
Steve Goss, Chief Actuary of the Social Security Administration, presented Social Security Disability Insurance Trust Fund: Behind the Numbers at an Academy Capitol Forum webinar.( )
The Principle-based Reserve Strategy Subgroup (PBRSS) submitted a comment letter to the NAIC suggesting topics to be discussed at a potential interim meeting of the PBR Implementation (EX) Task Force.
The Life Practice Council presented a webinar reviewing the NAIC Spring 2014 National Meeting and activities, including a rundown of the most recent Life Actuarial (A) Task Force meeting, a discussion of activities at the Life Risk-Based Capital (E) Working Group meeting, an update on VM-22 development, and a review of the recently exposed practice note Life Principle-Based Reserves Under VM-20.
The Risk-Sharing Work Group submitted a letter to the Center for Consumer Information and Insurance Oversight (CCIIO) with comments on a proposed rule related to exchanges and market reforms for 2015, specifically addressing ACA risk-sharing mechanisms.( )
In this month’s HealthCheck, read about the Academy’s new Health Cost and Quality of Care Initiative, enactment of a law preserving the sustainable growth rate for one year, proposed and final HHS rules, a citation of the Academy in a New York Times article on the Genetic Information Nondiscrimination Act, and much more.( )
The Life Capital Adequacy Subgroup submitted comments on the NAIC Operational Risk Subgroup’s March 20 exposure of a revised proposal that suggests a new “C-5” factor in the NAIC Life Risk-Based Capital formula to provide for operational risk.
On April 28, the Academy will host a forum, Retirement for the AGES: Measuring for Success, that will bring together retirement community leaders for a discussion of retirement plans and proposals, and an assessment of them using the Academy’s new framework for retirement-income systems. The all-day forum at the Ronald Reagan International Trade Center in Washington will include a review of the Academy’s AGES framework, presentations of policy proposals to increase retirement security, and panel discussions on how well these retirement plans and proposals adhere to the AGES framework. Click here to register.( )