Practice note prepared by Pension Committee addressing current and emerging practices for measuring obligations of defined benefit pension plans, with respect to variable annuity benefits.
( )Pension Committee practice note providing discussion and background information on the determination of investment return assumptions with a focus on considerations relating to the use of the return assumption as a discount rate.
( )Work Group Exposure Draft of Long-Term Care Combination Product Valuation Practice Note to provide information to actuaries on current and emerging practices in which their peers are engaged with respect to the considerations in the statutory, Generally Accepted Accounting Principles (GAAP) and tax valuation of long-term care combination products.
( )Model Risk Management Work Group practice note on model risk management.
( )Exposure Draft of the PBR Review Procedures Work Group practice note on risk-focused examinations. Comments are due to the Academy by July 1, 2019.
( )Exposure Draft of the PBR Review Procedures Work Group practice note on risk-focused examinations. Comments are due to the Academy by July 1, 2019. (
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Pension Practice Council practice note providing information on current and emerging practices in the selection of investment return assumptions based on anticipated future experience. (
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Pension Committee practice note discussing the valuation of lump sum benefits for financial accounting purposes. (
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Life Illustrations Work Group practice note assisting actuaries in performing professional services in compliance with ASOP No. 24 and providing information to actuaries on current or emerging practices. This practice note has been updated to reflect implication from the 2017 passage of the Tax Cuts and Jobs Act. (
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Exposure draft of practice note to provide a source of information to practicing long-term care (LTC) actuaries seeking to better understand the considerations in evaluating experience, setting assumptions, valuation, and financial reporting. (
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PBR Assumptions Resource Manual Work Group sample framework for setting, updating, and governing life insurance assumptions for Principle-Based Reserving and other valuation frameworks. (
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Life Principle-Based Approach Practice Note Work Group update of the 2017 VM-20 Practice Note to reflect emerging practices and changes to the Valuation Manual since the version effective for 12/31/2018 valuations. (
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Committee on Property and Liability Financial Reporting Statements of Actuarial Opinion on P/C Loss Reserves practice note.
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Pension Committee practice note covering topics related to the implementation of the spot rate approach to determining benefit obligations, service cost, and interest cost under accounting standards and other granular approaches. (
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Pension Committee exposure draft of practice note on current and emerging practices in the development of liabilities and cost estimates for pension plans with benefits paid as a lump sum. The comment deadline for this exposure draft is November 15, 2018. (
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Committee on Property & Liability Financial Reporting practice note on retained risk.
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Group Long-Term Disability Practice Note Work Group on some of the current practices used by health actuaries in the United States for determining actuarial reserves and liabilities for Group Long-Term Disability Income business. (
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Credit for Reinsurance Subgroup practice note, Credit for Life Reinsurance in U.S. Statutory Financial Statements. (
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Life Illustration’s Work Group practice note assists actuaries in performing professional services in compliance with ASOP No. 24 and provides information to actuaries on current or emerging practices.
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COPLFR practice note exposure draft on retained risk. Exposed for comment until March 30. (
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Committee on Property and Liability Financial Reporting Statements of Actuarial Opinion on P/C Loss Reserves practice note.
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Life Principle-Based Approach Practice Note Work Group practice note to assist actuaries with the implementation of the principle-based life reserve valuation approach adopted by the NAIC as detailed in the Requirements for Principle-Based Reserves for Life Products—VM-20. (
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Credit for Reinsurance Subgroup exposure draft of a new practice note, Credit for Life Reinsurance in U.S. Statutory Financial Statements.
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Principle-Based Reserve (PBR) Model Governance Practice Note Work Group practice note, Model Governance, providing additional information for practicing life actuaries seeking to better understand models, model risks, model governance, and related issues, as these actuaries implement PBR.
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Committee on Property and Liability Financial Reporting Statements of Actuarial Opinion on P/C Loss Reserves practice note. (
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Risk Exposures Subgroup practice note on quantifying risk Exposures for Own Risk and Solvency Assessment (ORSA) reports. (
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Pension Committee exposure draft of practice note on current and emerging practices in the selection of investment return assumptions based on anticipated future experience. The comment deadline for this practice note is June 27, 2016. (
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ERM/ORSA Committee exposure draft of a new practice note, Quantifying Risk Exposures for Own Risk and Solvency Assessment Reports. (
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Committee on Property and Liability Financial Reporting Statements of Actuarial Opinion on P/C Loss Reserves practice note. (
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Pension Committee exposure draft of practice note for measuring obligations of defined benefit pension plans that include variable annuity benefits. (
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