The Health Practice Council released a new issue brief providing an overview of the factors underlying general premium rate setting and highlighting the major drivers behind why 2015 premiums could differ from those in 2014 under the Affordable Care Act (ACA). Click here to read the news release.(June 04, 2014)
The Reinsurance Work Group submitted a comment letter to the NAIC Emerging Actuarial Issues Working Group on the exposed Reinsurance Ceded Interpretation Question.
The Risk Management and Financial Reporting Council submitted comments to NCOIL's International Issues Task Force with recommendations on three international issues that NCOIL should address in 2014.(June 02, 2014)
The Pension Committee submitted comments to the Society of Actuaries’ Retirement Plans Experience Committee on the RP-2014 and MP-2014 exposure drafts.(May 29, 2014)
The Social Security Committee released an issue brief that analyzes Social Security design changes to create a defined contribution system within the program for workers to accumulate contributions in individual accounts to fund their retirement income.(May 27, 2014)
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.(May 27, 2014)
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.(May 16, 2014)
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.(May 12, 2014)
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.(May 08, 2014)
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.(May 02, 2014)
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.(May 01, 2014)
Intersector Group releases a report to the Pension Practice Council containing notes from its March 2014 meeting with the Pension Benefit Guaranty Corporation.(May 01, 2014)
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.(April 24, 2014)
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.(April 24, 2014)
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 Academy published a new Essential Elements paper, The 80% Pension Funding Myth, which adds to its series designed to make actuarial analyses of public policy issues more accessible to widespread audiences. Visit the Essential Elements webpage to read this paper and others in the series.(April 23, 2014)
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.