American Academy Of Actuaries

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.  (September 21, 2018)

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. (March 12, 2018)

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. 
(January 26, 2018)

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. (May 18, 2017)

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.
(April 20, 2017)

Risk Exposures Subgroup practice note on quantifying risk Exposures for Own Risk and Solvency Assessment (ORSA) reports. (June 27, 2016)

Committee on Property and Liability Financial Reporting Statements of Actuarial Opinion on P/C Loss Reserves practice note. PLEASE NOTE: This practice note is updated annually. Click here to see the current practice note on Statements of Actuarial Opinion on Property and Casualty Loss Reserves. (December 22, 2015)

Premium Review Work Group practice note on Actuarial Practices Relating to Preparing, Reviewing, and Commenting on Rate Filings Prepared in Accordance with the Affordable Care Act, providing information on general rate filing requirements and considerations related to the URRT adn actuarial memorandum. (December 3, 2015)

Pension Committee's practice note, “Selecting and Documenting Mortality Assumptions for Pensions,” revised to reflect a new mortality improvement scale (BB) published by the Retirement Plans Experience Committee (RPEC) of the Society of Actuaries in 2012, mortality table RP-2014, and mortality improvement scale MP-2014 published by the Society of Actuaries in 2014.  (June 15, 2015)

Committee on Property and Liability Financial Reporting 2014 Practice Note on Statements of Actuarial Opinion on P/C Loss Reserves. PLEASE NOTE: This practice note is updated annually. Click here to see the current practice note on Statements of Actuarial Opinion on Property and Casualty Loss Reserves. (December 30, 2014)

Life Financial Reporting Committee practice note detailing practices on the treatment of value of business acquired (VOBA), goodwill, and other intangible assets under the purchase method of accounting of Generally Accepted Accounting Principles, or PGAAP. (October 15, 2014)

Practice note by the Minimum Value Practice Note Work Group on the calculation of minimum value and actuarial value under the Affordable Care Act (ACA), which includes a discussion of plan designs not accommodated by the calculators. (April 24, 2014)

Update of the Practice Note for Actuarial Standard of Practice No. 24 on complying with the NAIC Life Insurance Illustrations Model Regulation.
(August 29, 2013)

Enterprise Risk Management Committee’s practice note, “Insurance Enterprise Risk Management Practice,” which discusses ERM practices within the insurance industry and concepts such as risk culture, risk organization, and risk governance. (July 25, 2013)

Exposure draft update of the Large Group Medical Business Practice Note by the Large Group Medical Business Practice Note Work Group. (January 24, 2013)

Update by the Long-Term Care Practice Note Work Group of the 2003 Long-Term Care Practice Note relating to long-term care rate stability. (October 23, 2012)

Committee on Property and Liability Financial Reporting's 2011 practice note on Statements of Actuarial Opinion on P&C Loss Reserves. PLEASE NOTE: This practice note is updated annually. Click here to see the current practice note on Statements of Actuarial Opinion on Property and Casualty Loss Reserves. (December 16, 2011)

Pension Committee's practice note, revised October 2011, Selecting and Documenting Mortality Assumptions for Pensions to reflect changes to ASOP No. 35, Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations that went into effect in June 2011. PLEASE NOTE: This practice note was superseded by the 2015 practice note on Selecting and Documenting Mortality Assumptions for Pensions. (October 1, 2011)

Variable Annuity Practice Note Work Group practice note on the Application of C-3 Phase II and Actuarial Guideline XLIII. (April 6, 2011)

Financial Reporting Committee practice note on Actuarial Practices Relating to Accounting for Insurance Pursuant to International Financial Reporting Standards. (March 1, 2011)

Committee on Property and Liability Financial Reporting's 2010 practice note on Statements of Actuarial Opinion on P&C Loss Reserves. PLEASE NOTE: This practice note is updated annually. Click here to see the current practice note on Statements of Actuarial Opinion on Property and Casualty Loss Reserves. (December 3, 2010)

Health Practice Financial Reporting Committee practice note on practices for preparing health contract reserves. (September 30, 2010)

Life Financial Reporting Committee practice note to assist actuaries with application of FAS 133 with respect to variable annuities with guaranteed benefits. (February 2, 2010)

Health Practice Financial Reporting Committee practice note on actuarial certification of restrictions relating to premium rates in the small group market.  (December 31, 2009)