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Life Practice Council

The Life Practice Council oversees the Academy's public policy work on life insurance issues. The council manages the work of its committees, subcommittees, and work groups. The Academy's vice president for life insurance issues heads the council and serves on the Academy Executive Committee and Board of Directors.

Staff liaison:
ASB Liaisons: Linda Lankowski
Professionalism Liaison: Mike Ward

Chairperson: Benjamin Slutsker
Vice Chairperson(s): Matt Monson
Mary Bahna-Nolan
Susan Bartholf
Nancy Bennett
Michael Boerner
Thomas Campbell
Mary Caramagno
Charles Chacosky
Donna Claire
Alice Fontaine
R. Dale Hall
Laura Hanson
Andrew Jenkins
Jason Kehrberg
Elizabeth Keith
Leonard Mangini
Patricia Matson
Angela McShane
Donna Megregian
John Miller
Craig Morrow
Maambo Mujala
Paul Navratil
David Neve
Linn Richardson
Linda Rodway
Karen Rudolph
Dylan Strother
Sheldon Summers
Chris Trost
Peter Weber

Related Publications

Work Group Releases White Paper on Changes to Definitions of Life Insurance

The Tax Work Group released a white paper, 2017 and 2021 Legislative Changes to the Definition of Life Insurance, that focuses on summarizing changes to the relevant sections of sections 7702 and 7702A of the Internal Revenue Code.

(May 18, 2023 )

Work Group Comments to RBCIREWG on Exposure 2023-09-IRE

The C1 Work Group submitted a comment letter to the NAIC’s Risk-Based Capital Investment Risk and Evaluation (E) Working Group on Exposure 2023-09-IRE – Interim Residual Tranche C1 Factor.

(May 12, 2023 )

Work Group Comments to LATF on APF 2023-06

The Life Reserves Work Group submitted a comment letter to the NAIC’s Life Actuarial (A) Task Force (LATF) on the April 20 exposure of APF 2023-06.

(May 12, 2023 )

Work Group Comments to Product Standard Committee on ILVA Product Standards

The Index-Linked Variable Annuity Work Group submitted a comment letter to the ILVA Subgroup of the Product Standard Committee Interstate Insurance Product Regulation Commission on 2023 Compact Requirements for Index-Linked Variable Annuity Products.

(May 05, 2023 )

Work Group Comments to LATF on APF 2023-03

The Life Reserves Work Group (LRWG) submitted a comment letter to the NAIC’s Life Actuarial (A) Task Force (LATF) on proposed changes to VM-20 outlined in APF 2023-03 (Part 1).

(April 19, 2023 )

Work Group Comments to LATF on APF 2023-05

The Variable Annuity Reserve and Capital Work Group (VARCWG) submitted a comment letter to the NAIC’s Life Actuarial (A) Task Force (LATF) on APF 2023-05; specifically, hedging language to address index credit hedging in VM-21.

(April 19, 2023 )

Committee Comments to LATF on Bond Risk Measures

The Life Valuation Committee submitted a comment letter to the National Association of Insurance Commissioners' Life Actuarial (A) Task Force (LATF) on the Valuation of Securities (VOSTF) Task Force’s referral to LATF on Bond Risk Measures.

(April 13, 2023 )

Life Practice Council Submits Presentation to NAIC Life Actuarial (A) Task Force

The LPC gave a presentation to the Life Actuarial (A) Task Force (LATF) at the National Association of Insurance Commissioner’s Spring National Meeting on current and future LPC workstreams.

(March 20, 2023 )

Committee Releases White Paper on Long-Duration Targeted Improvements (LDTI)

The Life Financial Reporting Committee released a white paper, FASB Long-Duration Targeted Improvements—A Discussion of Enhanced Disclosures, which focuses on certain considerations in implementing FASB’s required enhanced disclosures around LDTI.

(March 09, 2023 )

Life Practice Council, Health Practice Council, and Casualty Practice Council Submit a Joint Comment Letter to the Colorado Division of Insurance

The Life Practice Council, Health Practice Council, and Casualty Practice Council submitted a joint comment letter to the Colorado Division of Insurance on its recent exposure of a draft regulation on Governance and Risk Management Framework Requirements for Life Insurance Carriers’ Use of External Consumer Data and Information Sources, Algorithms, and Predictive Models: the first exposed implementation regulation for Colorado Revised Statute (C.R.S.) § 10-3-1104.9, signed into law on July 6, (March 06, 2023 )

Work Group Submits Comment Letter to the NAIC’s Life Actuarial (A) Task Force (LATF)

The Life Reserves Work Group submitted a comment letter to the National Association of Insurance Commissioners (NAIC) LATF on the proposed changes to VM-20 outlined in APF 2023-03.

(February 21, 2023 )

Life Practice Council and Casualty Practice Council Submit a Joint Comment Letter to the NAIC’s Big Data and Artificial Intelligence (H) Working Group

The Life Practice Council and the Casualty Practice Council submitted a joint comment letter to the National Association of Insurance Commissioner’s Big Data and Artificial Intelligence (H) Working Group on its Artificial Intelligence/Machine Learning Model and Data Regulatory Questions Exposure.

(February 13, 2023 )

Work Group Submits Comment Letter to the NAIC’s Valuation of Securities (E) Task Force (VOS)

The C1 Work Group submitted a comment letter to the National Association of Insurance Commissioners (NAIC) VOS on the proposed methodology for collateralized loan obligations (CLOs).

(February 14, 2023 )

Work Group Submits Comment Letter to the NAIC’s Risk-Based Capital Investment Risk and Evaluation (E) Working Group (RBCIRE WG)

Work Group Submits Comment Letter to the NAIC’s Risk-Based Capital Investment Risk and Evaluation (E) Working Group (RBCIRE WG).

(January 31, 2023 )

Work Group Submits Presentation to the NAIC’s Life Risk-Based Capital (E) Working Group (LRBCWG)

(January 26, 2023 )

Annuity Reserves Work Group (ARCWG) Submits Comment Letter to NAIC Valuation Manual (VM)-22 (A) Subgroup

(January 17, 2023 )

White Paper on Considerations in Market Risk Benefits

(December 21, 2022 )

C1WG Slide Deck CLOs

The C1 Work Group submitted a presentation to NAIC’s Risk-Based Capital Investment Risk and Evaluation (E) Working Group on collateralized loan obligations.

(December 16, 2022 )

LPC Update Presentation

The Life Practice Council (LPC) and Life Experience Committee (LEC) submitted a presentation to NAIC’s Life Actuarial (A) Task Force’s Subgroup on current LPC workstreams as well as two issue briefs recently published by the LEC.

(December 16, 2022 )

The Economic Scenario Generator Work Group submitted a presentation to NAIC’s Life Actuarial (A) Task Force’s Subgroup on Economic Scenario Generator Stylized Facts and Acceptance Criteria

(December 16, 2022 )

Corporate Credit ESG Presentation

(October 27, 2022 )

Committee Releases Discussion Brief on Credibility

The Academy’s Life Experience Committee released a discussion brief on credibility in life insurance modeling.

(December 02, 2022 )

Committee Releases Discussion Brief on Margins

The Academy’s Life Experience Committee released a discussion brief on the use of margins in life insurance modeling.

(December 02, 2022 )

Index-Linked Variable Annuity (ILVA) Work Group Submits Comments on Proposed Actuarial Guideline ILVA

(November 02, 2022 )

Life Illustrations Work Group Submits Comments on Indexed Universal Life Illustrations Exposure

Life Illustrations Work Group Submits Comments on Indexed Universal Life Illustrations Exposure

(November 03, 2022 )

Work Group Submits Instruction Supplement for Newly Adopted Life Insurance C-2 Mortality Factors

(October 21, 2022 )

Work Groups Submit LIBOR/SOFR Comment Letter to NAIC Life Actuarial (A) Task Force

(October 14, 2022 )

Life Experience Work Group Releases Discussion Brief on Inflation

The Academy’s Life Experience Committee released a discussion brief on the impacts of inflation, interest rates, stock market volatility, and potential recession on life insurance business.

(October 14, 2022 )

LIBOR/SOFR Comment Letter to NAIC Life Actuarial (A) Task Force

Work Groups Submit LIBOR/SOFR Comment Letter to NAIC Life Actuarial (A) Task Force

(September 29, 2022 )

Work Group submits ESG presentation to NAIC Life Actuarial (A) Task Force

(September 27, 2022 )

Index-Linked Variable Annuity Work Group Submits Comments on Proposed Actuarial Guideline ILVA

(September 16, 2022 )

IWG Comment Letter on IUL Exposure

(September 06, 2022 )

Lifetime Income Risk Joint Committee Releases Issue Brief on Adding Annuity Options to Defined Contribution Plans

The Academy's Lifetime Income Risk Joint Committee released an issue brief that that provides a discussion of a variety of approaches for adding annuity options to defined contribution (DC) plans providing for insured lifetime income that begins immediately, is deferred, or is provided under an accumulation product that converts funds to lifetime income.

(August 31, 2022 )

Lifetime Income Risk Joint Committee Releases Issue Brief on Qualifying Longevity Annuity Contracts

The Academy's Lifetime Income Risk Joint Committee released an issue brief providing a discussion of Qualifying Longevity Annuity Contracts (QLACs), which are insured annuities paid out one or more years after purchase, possibly starting at an advanced age.

(August 31, 2022 )

Lifetime Income Risk Joint Committee Releases Issue Brief on Various Types of Insured Annuities

The Academy's Lifetime Income Risk Joint Committee released an issue brief that provides a discussion of the various types of insured annuities available to individuals and their potential uses, as well as some relevant tax implications.

(August 31, 2022 )

ILVA Comment Letter

Academy’s Index-Linked Variable Annuity Work Group comment letter

(August 23, 2022 )

Annuity Reserves and Capital Work Group Submits Comments on VM-22 Longevity Reinsurance Proposal

(August 12, 2022 )

Life Illustrations Work Group Comment Letter

(July 28, 2022 )

Academy's Interest Rate Generator (Version 7.1.202205)

(July 22, 2022 )

Interest Rate FAQ (July 2022)

(July 22, 2022 )

Comment Letter on Exposure 3.1 of the Proposed Actuarial Guideline ILVA

(July 08, 2022 )

A proposed discussion schedule for the National Association of Insurance Commissioners (NAIC) Life Actuarial (A) Task Force and Life Risk-Basked Capital (E) (LRBC) Working Group to develop acceptance criteria for stochastic sets of economic scenarios

(June 24, 2022 )

Future Mortality Improvement Scale Development (VM-20) LATF Update #2

(June 24, 2022 )

Academy Comment Letter on APF 2022-04 Swap Spreads

(June 17, 2022 )

Sources of Information on Life Insurance COVID Mortality

(June 17, 2022 )

C-3 Phase 1 Field Test Spreadsheet

(June 02, 2022 )

Future Mortality Improvement Scale Development (VM-20) Presentation

(June 02, 2022 )

COVID-19 in Life Insurance Mortality Improvement Discussion Brief

(June 02, 2022 )

COVID-19 in Life Insurance Mortality Improvement Presentation

(June 02, 2022 )

Academy Comment Letter to the Colorado Division of Insurance on SB21-169 on Life Insurance Underwriting

(May 02, 2022 )

Academy Comment Letter on Exposure of Proposed Actuarial Guideline related to Asset Adequacy Testing

(May 02, 2022 )

Academy Comment Letter on Exposure of Proposed Actuarial Guideline related to Indexed-Linked Variable Annuities

Academy Comment Letter on Exposure of Proposed Actuarial Guideline on Nonforfeiture Requirements for Index Linked Variable Annuity Products Supported by Non-Unitized Accounts.

(May 02, 2022 )

Academy Presentation on Longevity Reinsurance

Academy Presentation to NAIC Valuation Manual (VM)-22 (A) Subgroup on Longevity Reinsurance

(May 05, 2022 )

Academy Work Groups present to NAIC on Swap Spreads and LIBOR Transition to SOFR

The Life Reserves Work Group, Annuity Reserves and Capital Work Group, and Variable Annuity Reserves and Capital Work Group submit an amendment proposal and presentati (March 10, 2022 )

Annuity Reserves and Capital Work Group Submits Recommendations of Aggregation Principles to LATF’s VM-22 Subgroup

The Annuity Reserves and Capital Work Group Submitted Recommendations of Aggregation Principles as outlined in the Academy’s Preliminary Framework Elements for Fixed Annuity Principle-Based Reserving to the National Association of Insurance Commissioners’ Life Actuarial Task Force’s VM-22 Subgroup.

(March 04, 2022 )

Economic Scenario Generator Work Group's Model Office Testing Presentation to LATF

The Economic Scenario Generator Work Group's presentation to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on model office testing scenarios of the new economic scenario generator.

(March 03, 2022 )

Variable Annuity Reserves and Capital Work Group's VM-21 Practice Note Supplement

The Academy’s Variable Annuity Reserves and Capital Work Group's VM-21 Practice Note Supplement, Implementation of Requirements for Principle-Based Reserves for Variable Annuities – 2022 Edition of VM-21. The supplement was exposed for public comment in 2021, and the final product has been published to reflect comments.

(February 14, 2022 )

Life Underwriting and Risk Classification Work Group's Comments on Accelerated Underwriting

The Academy’s Life Underwriting and Risk Classification Work Group's comments to the NAIC’s Accelerated Underwriting (A) Working Group on its paper summarizing what the working group has learned on using external data and data analytics in accelerated underwriting and provides recommendations for regulators and insurers when evaluating accelerated underwriting.

(February 11, 2022 )

Annuity Reserves and Capital Work Group's Letter and Spreadsheet to Valuation Manual (VM)-22 Subgroup on VM-22 Mix

The Academy’s Annuity Reserves and Capital Work Group's letter and spreadsheet to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force’s VM-22 Subgroup regarding a reinvestment credit quality assumption consiste (February 09, 2022 )

Life Illustrations Work Group's Comments on Indexed Universal Life Illustrations Exposure

The Academy’s Life Illustrations Work Group's comment letter to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on its exposure draft regarding the indexed universal life illustrations post-AG 49-A, which have shown lower credited rates and related values than seen prior to AG 49-A.

(February 03, 2022 )

Academy Submits Letter to Colorado Division of Insurance

Academy President Maryellen Coggins submitted a letter to the Colorado Division of Insurance in advance of the upcoming stakeholder engagement process for the recently passed state law aimed to protect consumers from unfair discrimination in insurance practices. The comments addressed potential concerns of the law’s impact on casualty, health, and life insurance.

(February 04, 2022 )

Asset Modeling and Reporting Task Force's Comments on Proposed Asset Adequacy AG

The Asset Modeling and Reporting Task Force's comments to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on its proposed second exposure draft of an actuarial guideline (AG) regarding asset adequacy testing.

(January 28, 2022 )

C-2 Longevity Risk Work Group's Comment Letter to NAIC on Reserve Implications of Proposed VM-22 Principle-Based Reserving Framework

The C-2 Longevity Risk Work Group's comments to the National Association of Insurance Commissioners’ Longevity Risk (A/E) Subgroup on reserve implications of expanding the scope of C-2 Longevity Risk-Based Capital requirements to include longevity reinsurance contracts in the proposed Principle-Based Reserving framework.

(December 21, 2021 )

Academy Sends Letter Releasing Use of ESG

The Academy sent a letter to the chairs of the National Association of Insurance Commissioners’ (NAIC’s) Life Actuarial (A) Task Force and Life Risk-Based Capital (E) Working Group indicating an “as-is” availability of its economic scenario generator, the Academy Interest Rate Generator (AIRG) for those regulators and interested parties wishing to modify the AIRG parameters as a basis for producing an updated model.

(December 17, 2021 )

Tax Work Group’s Updated FAQs Developed as a Result of the Tax Cuts and Jobs Act

The Tax Work Group’s updated FAQs regarding certain insurance reserves held by insurance companies for the purpose of determining U.S. taxable income under the Tax Cuts and Jobs Act of 2017.

(December 13, 2021 )

LPC’s Update to the Life Actuarial (A) Task Force at the NAIC 2021 Virtual Fall National Meeting

Former Life Vice President Laura Hanson’s presentation providing an update of Life Practice Council activities to the Life Actuarial (A) Task Force at the National Association of Insurance Commissioners 2021 Virtual Fall National Meeting.

(December 08, 2021 )

Life Underwriting and Risk Classification Work Group's Comments on Accelerated Underwriting

The Life Underwriting and Risk Classification Work Group's comments to the NAIC’s Accelerated Underwriting (A) Working Group on its paper summarizing the output of the working group’s recommendations and assessment to understand the current state of the life insurance industry and its use of accelerated underwriting.

(December 03, 2021 )

VARCWG Comments to LATF on APF 2021-11

The Variable Annuity Reserves and Capital Work Group's comments to the Life Actuarial Task Force on amendment proposal form (APF) 2021-11 regarding the proposed assumption disclosure requirements in VM-31. (December 01, 2021 )

C-2 Mortality Work Group’s Presentation and Report to the NAIC’s Life Risk Based Capital Working Group

The C-2 Mortality Work Group’s report and presentation to the National Association of Insurance Commissioners’ (NAIC’s) Life Risk-Based Capital (LRBC) Working Group on their recommendations for updated C-2 factors.

(November 09, 2021 )

Life Practice Council’s Task Force’s Comments to the ASB on ASOP 24

Comments developed by a task force of the Life Practice Council to the Actuarial Standards Board (ASB) on the exposure draft of Actuarial Standard of Practice (ASOP) No. 24.

(November 09, 2021 )

Market Risk Benefits Work Group White Paper Exposure Draft

The Life Financial Reporting Committee’s Market Risk Benefits Work Group exposure draft of a white paper titled, Considerations in Market Risk Benefits. The paper is exposed for public comment for 60 days through December 6, 2021. Comments can be submitted to lifeanalyst@actuary.org.

(October 06, 2021 )

LPC Presents Update to the Life Actuarial (A) Task Force at the NAIC 2021 Virtual Fall National Meeting

Life Vice President Laura Hanson gave an update of the Life Practice Council activity to NAIC’s Life Actuarial (A) Task Force.

(August 12, 2021 )

Life Illustrations Work Group Updates Life Insurance Illustrations Practice Note

The Life Illustrations Work Group’s updated practice note is revised to better reflect current practices actuaries are using when complying with ASOP No. 24, Compliance with the NAIC Life Insurance Illustrations Model Regulation, which was revised and adopted in December 2016.

(September 08, 2021 )

Academy Interest Rate Generator: Frequently Asked Questions, July 2021

FAQ document providing information relevant to the updated Academy Interest Rate Generator.

(July 22, 2021 )

ARCWG Proposed Draft of NAIC VM-22 Requirements for Fixed Annuity Principle-Based Reserving Framework

The Annuity Reserves and Capital Work Group’s (ARCWG) proposed draft of revised NAIC VM-22 requirements for fixed annuity principle-based reserving framework. The following draft includes a version demonstrating the changes to the current VM-22 framework as well as a clean version of the document. (July 16, 2021 )

Life Reserves Work Group’s Comment Letter to NAIC on Asset Adequacy Testing for Reinsurance

The Life Reserves Work Group submitted a comment letter to the National Association of Insurance Commissioners’ (NAIC) Life Actuarial Task Force (LATF) on a Valuation Manual amendment proposal form regarding asset adequacy testing for reinsurance requirements.

(June 14, 2021 )

C-2 Longevity Risk Work Group’s Comment Letter to NAIC on Longevity Factors and Instructions

The C-2 Longevity Risk Work Group’s comment letter to the National Association of Insurance Commissioners’ (NAIC) Life Risk-Based Capital Working Group (LRBCWG) on the exposure (2021-13-L), Longevity Factors and Instructions.

(May 27, 2021 )

C1 Work Group’s Comment Letter to NAIC on Bond Factors

The C1 Work Group’s comment letter to the National Association of Insurance Commissioners’ (NAIC) Life Risk-Based Capital Working Group (LRBCWG) on its exposures of proposed bond factors and instructions.

(May 27, 2021 )

Life Reserves Work Group’s Comment Letter to NAIC on APF 2020-10

The Life Reserves Work Group’s comment letter to the National Association of Insurance Commissioners’ (NAIC) Life Actuarial Task Force (LATF) on an amendment proposal form (APF 2020-10), which addresses inclusion of future mortality improvement (FMI) into principle-based reserving (PBR) valuation.

(May 25, 2021 )

Academy Submits Letter to NAIC Special Committee on Race and Insurance

Academy President Tom Campbell submitted a letter to the NAIC Special Committee on Race and Insurance on proposed charges regarding P/C and life insurance issues related to Workstream Three (property/casualty) and Workstream Four (life insurance and annuities).

(May 14, 2021 )

LPC Update at NAIC 2021 Virtual Spring National Meeting

The Life Practice Council's update to the Life Actuarial (A) Task Force at the National Association of Insurance Commissioners 2021 Virtual Spring National Meeting.

(April 08, 2021 )

Life Underwriting and Risk Classification Work Group's Letter on Colorado Senate Bill 21-169

The Life Underwriting and Risk Classification Work Group’s letter on Colorado Senate Bill 21-169 aimed at unfair discrimination in insurance, addressing potential concerns of the legislation’s impact on life insurance.

(March 29, 2021 )

ESG Work Group's Comments to LATF on Recent Exposures

The Academy’s Economic Scenario Generator Work Group’s (ESGWG) comment letter submitted to the National Association of Insurance Commissioners' Life Actuarial Task Force regarding its recent ESG exposures.

(March 24, 2021 )

VA Reserve and Capital Work Group APF to Update RMD

The Variable Annuity Reserves and Capital Work Group’s proposed amendment submitted to the NAIC’s Life Actuarial Task Force (LATF) to update the reference to the required minimum distribution (RMD) age in the VM-21 Standard Projection Amount pursuant to enactment of the federal Setting Every Community Up for Retirement Enhancement (SECURE) Act.

(March 15, 2021 )

ARCWG Fixed Annuity PBR Deviations Grid

The Academy’s Annuity Reserves and Capital Work Group’s summary of the differences between the Academy fixed annuity principle-based reserving (PBR) framework proposal exposed by the National Association of Insurance Commissioners VM-22 Subgroup in October 2020 and the current framework for Valuation Manual (VM)-21 (variable annuity PBR).

(March 15, 2021 )

C1 Work Group's Updated Bond Factors to LRBC Working Group

The C1 Work Group's letter to the NAIC's Life Risk-Based Capital (LRBC) Working Group, including an update to previously proposed base bond factors and companion portfolio adjustment formula to reflect corporate tax rates enacted by the Tax Cuts and Jobs Act of 2017 for the LRBC formula.

(March 11, 2021 )

C1 Work Group Comments to LRBC Working Group on Capital Requirements for Real Estate

The C1 Work Group's comments to the NAIC's Life Risk-Based Capital (LRBC) Working Group on the exposed January 21, 2021 proposal to restate the capital requirements for real estate in the LRBC formula.

(March 08, 2021 )

VM-21 Practice Note Supplement Exposure Draft

This is the exposure draft of the Academy's Variable Annuity Reserve and Capital Work Group's Practice Note Supplement, Implementation of Requirements for Principle-Based Reserves for Variable Annuities - 2021 Edition of VM-21. The comment deadline for this exposure draft is April 30, 2021, and can be sent to lifeanalyst@actuary.org.

(February 03, 2021 )

Life Underwriting and Risk Classification Work Group Letter to NAIC (A) Committee

The Life Practice Council's Life Underwriting and Risk Classification Work Group letter to the NAIC Life Insurance and Annuities (A) Committee on state regulatory and legislative actions in regards to life insurance underwriting implications of COVID-19.

(December 18, 2020 )

Life Underwriting and Risk Classification Work Group Letter to NAIC (A) Committee

(December 18, 2020 )

Asset Adequacy Testing Considerations for Year-End 2020

The Life Practice Council's Asset Adequacy Testing Task Force's (AATTF) discussion paper titled, Asset Adequacy Testing Considerations for Year-End 2020.

(December 04, 2020 )

LPC Update at NAIC 2020 Fall National Meeting

The Life Practice Council's update to the Life Actuarial (A) Task Force at the NAIC 2020 Fall National Meeting.

(December 03, 2020 )

Financial Reporting Committee and Life Financial Reporting Committee Comments to FASB

The Financial Reporting Committee and Life Financial Reporting Committee comments to the Financial Accounting Standards Board (FASB) regarding indexing and modco embedded derivatives.

(November 23, 2020 )

ARWG Update to NAIC VM-22 Subgroup

The Academy's Annuity Reserves Work Group (ARWG) presentation on the Preliminary Framework Elements for Fixed Annuity PBR to the NAIC's Valuation Manual (VM)-22 (A) Subgroup.

(October 21, 2020 )

Comment Letter to Department of Labor on Pension Benefit Statements and Lifetime Income Illustrations

Lifetime Income Risk Joint Committee comment letter to Department of Labor Employee Benefits Security Administration on an interim final regulation with request for comments regarding pension benefit statements and lifetime income illustrations.

(November 17, 2020 )

Comments to ASB on ASOP No. 2 Proposed Revision

The Life Practice Council's ASOP No. 2 Practice Note Task Force's comments to the Actuarial Standards Board on the proposed revision of Actuarial Standard of Practice (ASOP) No. 2, Nonguaranteed Elements for Life Insurance and Annuity Products (the "Second Exposure Draft").

(November 13, 2020 )

The Tax Cuts and Jobs Act of 2017 - Effects on Life Insurers

Tax Work Group's white paper outlining the most significant changes in the taxation of life insurance companies that were made by the Tax Cuts and Jobs Act of 2017 (TCJA).

(October 08, 2020 )

C-2 Work Group Update to NAIC's Life Risk-Based Capital (E) Working Group

C-2 Mortality Work Group update to the NAIC's Life Risk-Based Capital (E) Working Group reviewing the C-2 overall approach and current risk-based capital (RBC) factors.

(September 11, 2020 )

Presentation on C-3 Work Group Update to NAIC Life Risk-Based Capital (E) Working Group

The Academy C-3 Life and Annuities Work Group (C-3 WG) has a request from the NAIC Life Risk-Based Capital (E) Working Group (LRBC) to “Update the current C-3 Phase I or C-3 Phase II methodology to include Indexed Annuities.”

(August 21, 2020 )

Academy PBR Governance Update at NAIC Summer 2020 National Meeting

PBR Governance Update to the Life Actuarial (A) Task Force at the NAIC 2020 Summer National Meeting

(August 04, 2020 )

Life Experience Committee Presentation at NAIC 2020 Summer National Meeting

Life Experience Committee Life Mortality Improvement Subgroup presentation to the Life Actuarial (A) Task Force at the NAIC 2020 Summer National Meeting.

(August 04, 2020 )

VM-21 Checklist

VM-21 Checklist produced by the Variable Annuity Reserves and Capital Work Group.

(July 23, 2020 )

Life Underwriting and Risk Classification Work Group Follow-Up Letter to NAIC

Life Underwriting and Risk Classification Work Group follow-up letter to the NAIC Accelerated Underwriting (A) Working Group after June 18, 2020 presentation.

(July 22, 2020 )

Work Group Presentation to NAIC on Accelerated Underwriting

Life Underwriting and Risk Classification Work Group presentation to the NAIC Accelerated Underwriting (A) Working Group.

(June 18, 2020 )

Work Group Comment Letter on AG 49A

Life Illustrations Work Group comment letter to NAIC Life Actuarial (A) Task Force on the ACLI redline of AG 49A.

(June 15, 2020 )

Annuity Reserves Work Group Presentation for NAIC VM-22 Subgroup Summer Meetings

Annuity Reserves Work Group Summer 2020 presentation to the NAIC VM-22 Subgroup on the preliminary framework elements for Fixed Annuity PBR.

(June 11, 2020 )

Longevity Risk Work Group Comments on Exposure of Alternative Factors for Longevity

C-2 Longevity Risk Work Group (formerly Longevity Risk Task Force) comment letter to the NAIC Life Risk-Based Capital Working Group on the exposed alternative factors for longevity.

(May 29, 2020 )

Tax Work Group Letter to IRS on Proposed Regulation

Tax Work Group comment letter to the Internal Revenue Service on proposed regulation on changes to the computation of life insurance reserves for income tax reporting.

(May 28, 2020 )

Life Illustrations Work Group Letter to LATF on the Independent Proposal

Life Illustrations Work Group letter to NAIC Life Actuarial (A) Task Force on the "Independent Proposal".

(May 27, 2020 )

Preliminary Framework Elements for Fixed Annuity PBR

Annuity Reserve Work Group (ARWG) presentation to the NAIC VM-22 (A) Subgroup on the development of their preliminary framework for fixed annuity PBR.

(May 20, 2020 )

Academy Interest Rate Generator May 2020 Update

Academy's Interest Rate Generator (AIRG) Version 7.1.202005

(May 08, 2020 )

Academy Interest Rate Generator: Frequently Asked Questions, May 2020

FAQ document developed by the Joint Economic Scenario Generator Project Oversight Group to provide information relevant to the Academy Interest Rate Generator.

(May 08, 2020 )

Life Illustrations Work Group Letter on ACLI Exposure of IUL Illustrations Under AG49

Life Illustrations Work Group letter to NAIC IUL (A) Illustration Subgroup on American Council of Life Insurers (ACLI) proposal for AG 49-A

(May 08, 2020 )

LPC Comment Letter on ASOP No. 11 Exposure

Life Practice Council comment letter to the Actuarial Standards Board on the proposed revision of Actuarial Standard of Practice (ASOP) No. 11, Reinsurance Involving Life Insurance, Annuities, or Health Benefit Plans in Financial Reports.

(April 21, 2020 )

Common Practices of Examining Actuaries Involved in Statutory Financial Solvency Examinations of Life and Health Insurers (Including Considerations for Principle-Based Reserves)

Life Valuation Committee's Principle-Based Reserve Review Procedures Work Group practice note.

(April 17, 2020 )

Life Principle-Based Reserves (PBR) Under VM-20 (2020 Updated)

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 12/31/2019 valuations.

(April 03, 2020 )

Life Reinsurance Work Group Letter on Model #787 and AG 48 Similarities

Life Reinsurance Work Group comment letter to the NAIC Reinsurance (E) Task Force on the model #787 exposure memorandum on whether Actuarial Guideline XLVIII (AG 48) should be considered to be "substantially similar" to Model #787 under the NAIC Financial Standards of Accreditation Program.

(February 26, 2020 )

Life Illustrations Work Group Letter on IUL Illustrations Under AG49

IWG comment letter to NAIC on Indexed Universal Life insurance policies under Actuarial Guideline XLIX (AG 49).

(February 21, 2020 )

Work Group Comment Letter on RBC Proposal 2019-16-1

C-1 Work Group comment letter to the NAIC Capital Adequacy (E) Task Force on their proposal to expand the number of bond factors in the Life Risk-Based Capital formula.

(February 14, 2020 )

Macroprudential Task Force Comment Letter on Liquidity Stress Testing Framework

Macroprudential Task Force comment letter to NAIC Financial Stability (EX) Task Force and Liquidity Assessment (EX) Subgroup on the LST framework exposure.

(February 06, 2020 )

Longevity Risk Task Force Comment Letter on Proposed Longevity Risk Charge

Longevity Risk Task Force comment letter to NAIC Life Risk-Based Capital (E) Working Group on the exposure of the proposed longevity risk charge.

(January 23, 2020 )

Life Reserves Work Group APF 2019-33

APF 2019-33, submitted by the Life Reserves Work Group to the Life Actuarial (A) Task Force.

(December 05, 2019 )

C-2 Work Group Update at NAIC 2019 Fall National Meeting

C-2 Work Group update to the Life Risk-Based Capital (E) Working Group at the NAIC 2019 Fall National Meeting.

(December 07, 2019 )

Life Experience Committee Introduction to VBT Analysis Process

Life Experience Committee presentation on the introduction to the Valuation Basic Table analysis process to Life Actuarial (A) Task Force at the NAIC 2019 Fall National Meeting.

(December 06, 2019 )

PBR Governance Work Group Update at NAIC Fall 2019 National Meeting

PBR Governance Work Group update at the NAIC 2019 Fall National Meeting.

(December 05, 2019 )

Life Reserves Work Group Presentation at NAIC 2019 Fall National Meeting

Life Reserves Work Group presentation on PBR treatment for individually underwritten group insurance.

(December 05, 2019 )

Considerations For Changes to the Life Mortality Improvement Factor Process

Life Experience Committee presentation to the Life Actuarial (A) Task Force at NAIC 2019 Fall National Meeting.

(December 05, 2019 )

SVL Interest Rate Modernization Work Group Update at NAIC 2019 Fall National Meeting

SVL Interest Rate Modernization Work Group update to the Life Actuarial (A) Task Force at the NAIC 2019 Fall National Meeting.

(December 05, 2019 )

ARWG Update at NAIC 2019 Fall National Meeting

Annuity Reserves Work Group update to the Life Actuarial (A) Task Force at NAIC 2019 Fall National Meeting.

(December 05, 2019 )

Work Group Update on YRT Field Test

YRT Field Test Project Oversight Work Group update to LATF on the field test timeline.

(December 05, 2019 )

Life Illustrations Work Group Letter on IUL Illustrations Under AG49

Life Illustrations Work Group comment letter to Life Actuarial (A) Task Force regarding questions raised on IUL Illustrations under AG49.

(December 04, 2019 )

Longevity Risk Task Force Letter and RBC Blank

Longevity Risk Task Force cover letter outlining sample changes to risk-based capital blanks to implement longevity C-2 factors.

(November 22, 2019 )

PBR Checklist

A four page resource outlining the critical elements of PBR for life insurance.

(October 23, 2019 )

Actuarial Observations on Retiree Income Approaches

Lifetime Income Risk Joint Committee issue brief on application of actuarial methods to risk management in retirement income planning.

(October 18, 2019 )

Life Experience Committee Mortality Improvement Scale Recommendation Report to NAIC

Life Experience Committee report to NAIC Life Actuarial (A) Task Force on individual life insurance mortality improvement scale for use with AG 38 and VM-20.

(September 24, 2019 )

Life Capital Adequacy Committee Letter to LRBC Working Group on Requirements for Long-Horizon Equity Investments

Life Capital Adequacy comment letter to the NAIC Life Risk-Based Capital Working Group on their exposure regarding requirements for long-horizon equity investments.

(September 20, 2019 )

LPC Update on YRT Field Test to LATF

Life Practice Council update on the Sept. 12 Life Actuarial (A) Task Force call regarding the YRT Field Test.

(September 12, 2019 )

Committee Letter to EBSA Regarding ERISA Advisory Council Report

Lifetime Income Risk Joint Committee letter to the Employee Benefits Security Administration regarding the ERISA Advisory Council Report.

(September 11, 2019 )

Task Force Comment Letter on Additional Assumption Sensitivities

Longevity Risk Task Force comment letter to NAIC Longevity Risk (A/E) Subgroup on additional assumption sensitivities to the proposed longevity C-2 factors.

(September 10, 2019 )

Work Group Comment Letter to NAIC on IUL Illustration Questions

Life Illustrations Work Group comment letter to NAIC IUL Illustration (A) Subgroup providing answers to questions on illustrations of Indexed Universal Life products under AG 49.

(September 04, 2019 )

LRTF Update and Correlation Recommendation at NAIC Summer 2019 National Meeting

Longevity Risk Task Force update and correlation recommendation to the Life Risk-Based Capital (E) Working Group at the NAIC Summer 2019 National Meeting.

(August 03, 2019 )

LPC Update on YRT Field Test at NAIC Summer 2019 National Meeting

Life Practice Council update to the Life Actuarial (A) Task Force at the NAIC Summer 2019 National Meeting.

(August 02, 2019 )

Academy PBR Governance Update at NAIC Summer 2019 National Meeting

PBR Governance Work Group update to the Life Actuarial (A) Task Force at the NAIC Summer 2019 National Meeting.

(August 02, 2019 )

LRWG Update at NAIC Summer 2019 National Meeting

Life Reserves Work Group update to the Life Actuarial (A) Task Force at the NAIC Summer 2019 National Meeting.

(August 02, 2019 )

Life Experience Committee APF and Supplemental Comment Letter on VM-51 Data Elements

Life Experience Committee amendment proposal form and comment letter addressing revision to data elements in VM-51.

(August 01, 2019 )

SVL Interest Rate Modernization Work Group Update at NAIC Summer 2019 National Meeting

SVL Interest Rate Modernization Work Group update to the Life Actuarial (A) Task Force at the NAIC Summer 2019 National Meeting.

(August 01, 2019 )

ARWG Update at NAIC Summer 2019 National Meeting

Annuity Reserves Work Group update to the Life Actuarial (A) Task Force at the NAIC Summer 2019 National Meeting.

(August 01, 2019 )

LPC Comment Letter on ASOP No. 2 Exposure Draft

Life Practice Council comment letter on proposed revisions to ASOP No. 2, Nonguaranteed Elements for Life Insurance and Annuity Products.

(July 15, 2019 )

LPC Comment Letter to ASB on ASOP Exposure

Life Practice Council comment letter to the Actuarial Standards Board on the second exposure draft of the proposed Actuarial Standard of Practice, Setting Assumptions.

(July 08, 2019 )

Work Group Comment Letter on IUL Products to NAIC

Life Illustrations Work Group comment letter to NAIC in response to questions on the illustrations of Indexed Universal Life products under Actuarial Guideline 49.

(June 28, 2019 )

Work Group Comment Letter on Illustrations for IUL Products under AG 49

Life Illustrations Work Group comment letter to NAIC IUL Illustrations (A) Subgroup on the exposed menu of options regarding illustrations for Indexed Universal Life products under Actuarial Guideline 49.

(June 27, 2019 )

Work Group Update on Review of Life Mortality RBC

C-2 Work Group update to the NAIC Life Risk-Based Capital Working Group for the working group's June 24 conference call.

(June 25, 2019 )

Life Practice Council Comment Letter on ASOP No. 22 Exposure

Life Practice Council comment letter to Actuarial Standards Board on December 2018 exposure draft of ASOP No. 22, Statements of Actuarial Opinion Based on Asset Adequacy Analysis for Life or Health Liabilities.

(May 29, 2019 )

Task Force Comment Letter to NAIC on Proposed Approach to Incorporating an RBC Charge for Longevity Risk

Longevity Risk Task Force comment letter to the NAIC Longevity Risk (A/E) Subgroup on a proposed approach to incorporating an RBC charge for longevity risk.

(May 22, 2019 )

LPC Comment Letter on Proposed Modeling ASOP

Life Practice Council comment letter to Actuarial Standards Board on the fourth exposure draft of the proposed new actuarial standard of practice for modeling.

(May 15, 2019 )

Life Experience Committee Comment Letter to NAIC on APF 2019-38

Life Experience Committee comment letter to NAIC Life Actuarial (A) Task Force on concerns with the NAIC continuing to use the 2001 CSO Tables for guaranteed issue business.

(May 08, 2019 )

LCAC Comment Letter on Exposed RBC Preamble

Life Capital Adequacy Committee comment letter to NAIC Capital Adequacy (E) Task Force on suggested changes to the exposed risk-based capital preamble.

(May 07, 2019 )

Work Group Comment Letter to NAIC on Annuity Disclosure Model Regulation #245

Annuity Illustration Work Group comment letter to NAIC Annuity Disclosure (A) Working Group on proposed changes to Annuity Disclosure Model Regulation #245.

(April 26, 2019 )

LPC Letter to NAIC on Importance of Principle-Based Approach for Life Insurance

Life Practice Council letter to Life Actuarial (A) Task Force on concerns with the NAIC moving in a direction that would deviate from principle-based approach for life insurance.

(March 19, 2019 )

Reinsurance Work Group Comment Letter to NAIC on YRT APF

Life Reinsurance Work Group comment letter to Life Actuarial (A) Task Force on APF 2019-17 and 2019-24, addressing yearly renewable term reinsurance.

(April 16, 2019 )

C-2 Work Group Update at NAIC Spring 2019 National Meeting

C-2 Life Mortality RBC Work Group update to Life Risk-Based Capital (E) Working Group at NAIC Spring 2019 National Meeting.

(April 07, 2019 )

Longevity Risk Task Force Update at NAIC Spring 2019 National Meeting

Longevity Risk Task Force update to Life Risk-Based Capital (E) Working Group at the NAIC Spring 2019 National Meeting.

(April 07, 2019 )

Work Group Update on PBR Governance at NAIC Spring 2019 National Meeting

PBR Governance Work Group update to Life Actuarial (A) Task Force at the NAIC Spring 2019 National Meeting.

(April 05, 2019 )

Work Group Update on SVL Interest Rate Modernization to NAIC

Standard Valuation Law Interest Rate Modernization Work Group update to Life Actuarial (A) Task Force at NAIC Spring 2019 National Meeting.

(April 04, 2019 )

Life Reserves Work Group Presentation on CDHS Requirements at NAIC Spring 2019 National Meeting

Life Reserves Work Group presentation to the Life Actuarial (A) Task Force on VM-20 and the clearly defined hedging strategy (CDHS) requirements.

(April 04, 2019 )

ARWG Update at NAIC Spring 2019 National Meeting

Annuity Reserves Work Group non-variable annuity PBR update to the Life Actuarial (A) Task Force.

(April 04, 2019 )

Work Group Comment Letter to NAIC on Exposed Questions

Life Illustrations Work Group letter addressing questions raised by the NAIC's IUL Illustration (A) Subgroup. (March 07, 2019 )

Comment Letter on the Report of the Commission on Retirement Security and Personal Savings

Lifetime Income Risk Joint Committee, Retirement System Assessment and Policy Committee (RSAP) and Social Security Committee comment letter to the Bipartisan Policy Center on the 2016 Report of the Commission on Retirement Security and Personal Savings.

(February 21, 2019 )

Life Experience Committee Comment Letter to NAIC on Questions Raised During NAIC Fall 2018 National Meeting

Life Experience Committee comment letter to Life Actuarial (A) Task Force on questions raised during the NAIC Fall 2018 National Meeting rearding the current process used to develop the AG38 and VM-20 annual mortality improvement scale recommendations. (February 18, 2019 )

Work Group Comment Letter to NAIC on APF 2019-04

Life Reserves Work Group comment letter to the Life Actuarial (A) Task Force regarding exposed APF 2019-04, which seeks to provide clarification for expense allowance formulas for universal life with secondary guarantee (ULSG). (February 18, 2019 )

Work Group Comment Letter to NAIC on Exposed Guidance Document

RBC Tax Reform Work Group comment letter to NAIC Life Risk-Based Capital Working Group on their exposed guidance document on the interpretation of 2018 Life Risk-Based Capital Results. (February 18, 2019 )

Life Insurance Illustrations: Application of the NAIC Life Insurance Illustrations Model Regulation and Actuarial Standard of Practice No. 24

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.

(February 14, 2019 )

Comment Letter on the Use of the Terms "Actuary" and "Qualified Actuary"

Role of the Actuary Subgroup comment letter to NAIC on the use of the terms "actuary" and "qualified actuary" in draft revisions to VM-21. (February 12, 2019 )

Work Group Comment Letter on APF 2018-58

Life Reinsurance Work Group comment letter to NAIC on APF 2018-58, which provides guidance for determination of future nonguaranteed yearly renewable term reinsurance rates under VM-20. (January 30, 2019 )

PBR Assumptions Resource Manual

PBR Assumptions Resource Manual Work Group sample framework for setting, updating, and governing life insurance assumptions for Principle-Based Reserving and other valuation frameworks. (January 28, 2019 )

Life Principle-Based Reserves (PBR) Under VM-20 (2019 Updated)

Subgroup Comment Letter to NAIC on Actuarial Opinion Definitions

Role of the Actuary Subgroup comment letter to NAIC on the treatment and definitions of the term "actuarial opinion" in VM-30. (January 09, 2019 )

Work Group Comment Letter on APF 2018-44

Life Reserves Work Group comment letter to the Life Actuarial (A) Task Force on amendment proposal form (APF) 2018-44, regarding credited amounts for indexed accounts. (January 01, 2019 )

Work Group Comment Letter on Life Insurance Online Guide Webpage

Non-Guaranteed Elements Work Group comment letter to NAIC on their proposal for a life insurance online guide landing page. (November 27, 2018 )

SVL Interest Rate Modernization Update to LATF

SVL Interest Rate Modernization update to Life Actuarial (A) Task Force on modernizing valuation interest rates for all non-variable annuities. (November 13, 2018 )

PBR Governance Update to LATF

PBR Governance Work Group update to Life Actuarial (A) Task Force at the NAIC Fall 2018 National Meeting.

(November 12, 2018 )

Reinsurance Work Group Presentation on PBR Allocation and Reinsurance

Reinsurance Work Group presentation to the Life Actuarial (A) Task Force on PBR Allocation and credit for Reinsurance.
(November 12, 2018 )

ARWG Non-Variable Annuity PBR Update to LATF

Annuity Reserves Work Group presentation to Life Actuarial (A) Task Force on non-variable annuities. (November 12, 2018 )

Work Group Comment Letter on Exposed LRBC Growth Charge Proposal

Life Operational Risk Work Group follow-up letter to NAIC on exposed Life Risk-Based Capital growth charge proposal. (October 28, 2018 )

Work Group Letter on Consolidated Comments for Annuity Disclosure Model Regulation #245

Annuity Illustration Work Group comment letter to NAIC on proposed changes to Annuity Disclosure Model Regulation #245. (October 17, 2018 )

LRWG Revised APF on Mortality Experience Assumptions

Life Reserves Work Group revised amendment proposal form on selection of the industry basic table when company experience mortality rates are higher than the industry basic table. (October 02, 2018 )

Work Group Revised APF on Aggregation of Mortality Segments

Life Reserves Work Group revised amendment proposal form on the aggregation of mortality segments for the purpose of determining credibility. (September 11, 2018 )

Work Group Guidance Document on Interpretation of LRBC Results

RBC Tax Reform Work Group letter to NAIC on the interpretation of year-end 2018 life risk-based capital results in light of the 2017 Tax Cuts and Jobs Act. (September 06, 2018 )

Task Force Comment Letter to NAIC on Exposed Scope for Liquidity Stress Test

Macroprudential Task Force comment letter to NAIC on the exposed scope for liquidity stress testing. (August 30, 2018 )

Work Group Comment Letter on Draft Changes to Model #582

Life Illustrations Work Group comment letter to NAIC on draft changes to Model #582. (August 30, 2018 )

Task Force Comment Letter to NAIC on Academy Recommendations for 2019 LHVLM

Life and Health Valuation Law Manual Task Force comment letter to Life Actuarial (A) Task Force on recommendations to changes for the 2019 Life and Health Valuation Law Manual. (August 15, 2018 )

Academy ERISA Advisory Council Testimony on Lifetime Income Solutions

Ted Goldman, Senior Pension Fellow, testimony before the U.S. (August 16, 2018 )

Work Group Update to LRBC

C-2 Work Group presentation to NAIC Life Risk-Based Capital (E) Working Group on its projects. (August 03, 2018 )

Work Group Update to NAIC on PBR Governance

PBR Governance Work Group update to Life Actuarial (A) Task Force on PBR adoption and Academy involvement. (August 02, 2018 )

Task Force Update to NAIC on Life and Health Valuation Law Manual

Task Force presentation to Life Actuarial (A) Task Force on changes to 2019 Life and Health Valuation Law Manual. (August 02, 2018 )

Work Group Presentation to NAIC on Reinsurance Allocation

Reinsurance WAork Group presentation to Life Actuarial (A) Task Force on reinsurance allocation. (August 01, 2018 )

Task Force Update to NAIC on Longevity Risk Survey

Longevity Risk Task Force update to the Life Actuarial (A) Task Force on the Longevity Risk Survey. (August 01, 2018 )

Work Group Update to NAIC on Annuity Exclusion Test Efforts

Annuity Reserves Work Group presentation to NAIC on Annuity Exclusion Test Efforts. (August 01, 2018 )

Work Group Presentation to NAIC on SVL Modernization

SVL Interest Rate Modernization Work Group update to Life Actuarial (A) Task Force. (August 01, 2018 )

Life Experience Committee Update to NAIC

Life Experience Committee update to NAIC on the Delphi Study, Accelerated Underwriting, and VM-51. (August 01, 2018 )

Work Group Comment Letter to NAIC on C1 Bond Factors

C1 Work Group comment letter on alternative C1 bond factors for different levels of statutory reserve offset. (July 16, 2018 )

Work Group Comment Letter on Proposed Policyholder Behavior Assumptions

AG43/C3 Phase II Work Group comment letter to NAIC on proposed policyholder behavior assumptions. (July 15, 2018 )

Work Group Comment Letter on Exposure of VAIWG Framework

AG43/C3 Phase II Work Group comment letter to NAIC on May 31 expossure of Variable Annuities Issues Working Group Framework. (July 12, 2018 )

Task Force Comment Letter to NAIC on Scope Considerations

Macroprudential Task Force comment letter on scope considerations for liquidity stress test and design elements. (July 15, 2018 )

Work Group Comment Letter to CA DOI on AB 2634

Life Illustrations Work Group comment letter to California Department of Insurance regarding Assembly Bill 2634. (July 01, 2018 )

Letter to Congress on the Lifetime Income Disclosure Act

Lifetime Income Risk Joint Task Force letter to Congress on the Lifetime Income Disclosure Act. (July 05, 2018 )

Work Group Comment Letter on Assumption of Governance for AG43

AG43/C3 Phase II Work Group comment letter to NAIC on assumption governance. (July 04, 2018 )

Work Group Comment Letter on Proposed Changes to Annuity Disclosure Model Regulation

Annuity Illustration Work Group comment letter to NAIC on proposed changes to the Annuity Disclosure Model Regulation #245. (July 01, 2018 )

Revised APF on Aggregation of Mortality Segments

Life Reserves Work Group revised APF on the aggregation of mortality segments in VM-20. (June 26, 2018 )

Work Group Comment Letter on Proposal to Add Fund Investment Instructions to P&P Manual

C1 Work Group comment letter to NAIC Valuation of Securities Task Force on their proposal to add instructions for fund investments to the Purposes and Procedures Manual. (June 24, 2018 )

Work Group Comment Letter to NAIC on Operational Risk Growth Charge

Life Operational Risk Work Group comment letter to NAIC on prospective operational risk growth charge for Life RBC Formula.
(June 05, 2018 )

Work Group Comment Letter on Life Risk-Based Capital

RBC Tax Reform Work Group comment letter to NAIC on the rounding of C-2 life insurance RBC factors and life RBC charges for certain health insurance coverages. (June 03, 2018 )

Work Group APF on VM-20 IUL Index Returns

Life Reserves Work Group Amendment Proposal Form for VM-20 on revising the approach to determine the credited rate for index accounts.

(May 31, 2018 )

Subcommittee comment letter on exposed Actuarial Guideline

Life Products Committee comment letter to NAIC on exposed Actuarial Guideline, Application of Section 6 of the Standard Nonforfeiture Law for Individual Deferred Annuities Model 805. (May 28, 2018 )

Work Group Follow-Up Letter to NAIC on Recommendation #9

AG43/C3P2 Work Group comment letter to NAIC on Recommendation #9. (May 10, 2018 )

Life Insurance Tax Reserve Method: Frequently Asked Questions (FAQ)

Tax Work Group paper on frequently asked questions about concepts of life insurance tax reserve methods and assumptions. (May 08, 2018 )

Work Group Comment Letter to NAIC on Suggested Changes to Life Illustrations

Life Illustrations Work Group comment letter to NAIC Life Insurance Illustration Issues Working Group on draft changes to Model #582. (April 29, 2018 )

Work Group Follow-Up Letter to NAIC on Impact of Tax Changes on RBC

RBC Tax Reform Work Group follow-up letter to NAIC Life Risk-Based Capital Working Group on additional comments regarding impact of changes to corporate tax rate on risk-based capital calculation. (April 23, 2018 )

Work Group APF on VM-20 Section 3.C

PBR Model Governance Work Group amendment proposal form to NAIC on universal life with secondary guarantees net premium reserve lapse rate. (April 22, 2018 )

Tax Calculations by the American Academy of Actuaries' Life-Risk Based Capital Committee's Codification Subgroup

Academy report on recommended pre-tax and after-tax factors for 2001 life RBC and Deferred Tax Assets (DTAs)/Deferred Tax Liabilities (DTLs) recognition, reflecting codification. (February 28, 2001 )

Work Group Comment Letter on Draft Buyer's Guide

Non-Guaranteed Elements Work Group comment letter on the NAIC March 19 draft life insurance buyer's guide. (April 03, 2018 )

Work Group Comment Letter on Suggested Changes to RBC

RBC Tax Reform Work Group comment letter to NAIC on suggested changes to 2018 Risk-Based Capital calculations. (April 02, 2018 )

Work Group Update to NAIC on Tax Reform Effects on Life RBC

RBC Tax Reform Work Group update to NAIC on effects of tax reform on life risk-based capital. (March 24, 2018 )

Work Group Update to NAIC on Academy PBR Governance

PBA Governance Work Group update to NAIC on Academy involvement with PBR. (March 23, 2018 )

Work Group Presentation on Indexed UL Under VM-20

Life Reserves Work Group presentation to the NAIC's Life Actuarial (A) Task Force on deterministic reserve considerations for indexed universal life (UL) under VM-20.

Task Force Presentation to NAIC on Longevity Risk Field Study

Longevity Risk Task Force presentation to NAIC's Life Actuarial (A) Task Force on the proposed longevity risk field study. (March 22, 2018 )

Committee Response Letter to ACLI Comments on Accelerated Underwriting Data Elements

Life Experience Committee letter to NAIC responding to ACLI comment on accelerated underwriting data elements. (March 20, 2018 )

Committee Response to NAIC Request for Further Analysis and Comparison of Reserves for GI Plans

Life Experience Committee presentation to NAIC on analysis and comparison of reserves for Guaranteed Issue (GI) plans. (March 22, 2018 )

Work Group Comment Letter to NAIC on Changes to RBC

RBC Tax Reform Work Group comment letter to NAIC on changes to Life Risk-Based Capiutal calculations as a result of tax reform. (March 16, 2018 )

Work Group Comment Letter to NAIC on VA QIS II Recommendations vF

AG43/C3P2 Work Group comment letter to NAIC on proposed modifications to Actuarial Guideline XLIII and C-3 Phase II. (March 02, 2018 )

Work Group Comment Letter on Revised Life Insurance Buyer's Guide Draft

Non-Guaranteed Elements Work Group comment letter to the NAIC's Life Insurance Buyer's Guide (A) Working Group on the revised Life Insurance Buyer's Guide draft. (February 22, 2018 )

Work Group Amendment Proposal Form on Changes to VM-20

Life Reserves Work Group APF to the NAIC Life Actuarial (A) Task Force regarding changes to VM-20 on aggregation of mortality segments for the purpose of determining credibility. (February 21, 2018 )

Work Group Comment Letter to NAIC on SSAP 101, Federal Income Tax Reform

Tax Work Group comment letter to the NAIC’s Statutory Accounting Principles (E) Working Group on federal income tax reform.
(February 16, 2018 )

Work Group Comment Letter to NAIC on Proposed Factors for Bonds

Work Group Update on Aggregation of Mortality Segments in VM-20

Work Group Comment Letter on Proposed Changes to Annuity Disclosure Model Regulation

Annuity Illustration Work Group comment letter to the NAIC on proposed changes to the Annuity Disclosure Model Regulation (#245). (January 31, 2018 )

Life Insurance Illustrations: Application of the NAIC Life Insurance Illustrations Model Regulation and Actuarial Standard of Practice No. 24

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 )

Subgroup Amendment Proposal Form to NAIC on VM-01

Role of the Actuary Subgroup Amendment Proposal Form to the NAIC Life Actuarial (A) Task Force on the definition of Actuarial Opinion. (January 11, 2018 )

Work Group Comment Letter on CEJ Expanded Outline Exposure Draft

Non-Guaranteed Elements Work Group comment letter to the NAIC's Life Insurance Buyer's Guide (A) Working Group on the CEJ Expanded Outline Exposure Draft. (January 03, 2018 )

Work Group Comment Letter on Life Insurance Buyer's Guide Exposure Draft

Non-Guaranteed Elements Work Group Comment Letter to NAIC Life Insurance Buyer's Guide (A) Working Group on "10 Things You Should Know Before Purchasing Life Insurance" exposure draft. (December 14, 2017 )

American Academy of Actuaries VAIWG Letter

Life Practice Council comment letter to NAIC Financial Condition (E) Committee raising concerns over the process by which the NAIC is developing changes to the statutory framework for variable annuities (VAs), including both C-3 Phase II for risk-based capital (RBC) and Actuarial Guideline (AG) 43 reserve requirements. (November 28, 2017 )

Subgroup Presentation on Academy PBR Efforts

PBR Governance Subgroup update to the NAIC Life Actuarial (A) Task Force on the Academy’s efforts on PBR implementation.
(December 01, 2017 )

Subgroup Presentation on Role of the Actuary

Role of the Actuary Subgroup’s update on the development to the NAIC Life Actuarial (A) Task Force on the definition of “qualified actuary”.
(December 01, 2017 )

Life Practice Council Update to LATF

Life Practice Council’s preliminary summary to the NAIC Life Actuarial (A) Task Force on the aggregation of mortality segments in VM-20.
(November 30, 2017 )

Life Experience Committee Presentation on Accelerated Underwriting Techniques

Life Experience Committee presentation to the NAIC Life Actuarial (A) Task Force on developing accelerated underwriting techniques.
(November 30, 2017 )

Life Experience Committee Presentation on GI and SI Tables

Life Experience Committee presentation to the NAIC Life Actuarial (A) Task Force on joint committee recommended changes related to guaranteed issue (GI) tables, and exposed simplified issue (SI) exposed tables and report. (November 30, 2017 )

Work Group Comment Letter on Life Insurance Buyer's Guide Draft

Non-Guaranteed Elements Work Group comment letter on the NAIC's development of a life insurance buyer's guide. (November 15, 2017 )

Work Group Comment Letter to LATF on YRT Reinsurance Premiums

Life Reinsurance Work Group comment letter to the NAIC’s Life Actuarial (A) Task Force on yearly renewable term reinsurance premiums under Section 20 of the Valuation Manual. (November 07, 2017 )

Committee Comment Letter on Proposed ASOP

The Life Products Committee comment letter to the Actuarial Standards Board regarding a proposed actuarial standard of practice (ASOP) on pricing of life insurance and annuity products.
(October 31, 2017 )

Academy Position Statement on Lifetime Income

Academy Position Statement on support for policy and educational initiatives to increase retirement income options within employer-sponsored defined contribution (DC) plans. (October 31, 2017 )

Work Group Comments on Life Insurance Buyer’s Guide Discussion Draft

Non-Guaranteed Elements Work Group comment letter on the NAIC’s Life Insurance Buyer’s Guide (A) Working Group discussion draft. (October 19, 2017 )

Work Group Comments on Reinsurance Risk Transfer Exposure Draft

The Life Reinsurance Work Group comments to the NAIC's Statutory Accounting Principles (E) Working Group on exposure draft 2017-28 relating to “Reinsurance Risk Transfer”. (October 13, 2017 )

Work Group Comments on Updated Recommendations for RBC Factors

The C1 Work Group comments to the NAIC’s Investment Risk-Based Capital (E) Working Group on capital requirements for bonds. (October 10, 2017 )

Asset Adequacy Analysis

Asset Adequacy Analysis Practice Note Work Group practice note assists actuaries who are faced with the requirement of asset adequacy analysis by providing examples of common approaches.

(September 26, 2017 )

Work Group Comments on Exposed VM-31 Amendment Proposal Form.

PBR Governance Work Group’s VM-31 Review Subgroup Comment Letter to the NAIC’s Life Actuarial (A) Task Force on the exposed VM-31 Amendment Proposal Form.
(September 12, 2017 )

Work Group Comments on Exposed VM-20 APF

Life Reserves Work Group (LRWG) comment letter to the National Association of Insurance Commissioners’ Life Actuarial Task Force exposed VM-20 Amendment Proposal Form (APF) on term insurance riders, labeled VM Maintenance Agenda Item 2017-40. (August 28, 2017 )

Work Group Comment Letter to NAIC regarding proposed changes to the Financial Condition Examiners Handbook

Comments from the Principle-Based Reserving Procedures Work Group to the NAIC regarding the exposure of proposed changes to the Financial Condition Examiners Handbook. (August 15, 2017 )

Work Group Update on Life Mortality Risk-Based Capital (RBC)

The C2 Life Mortality RBC Work Group presentation on their work reviewing the C2 RBC requirement for life insurance to the NAIC’s Life Risk Based Capital Working Group.

(August 06, 2017 )

Task Force Update on Longevity Risk

Tricia Matson, Chairperson of the Academy’s Longevity Risk Task Force (LRTF) presentation to the NAIC's Life Risk Based Capital Working Group. (August 06, 2017 )

Work Group Presentation on Non-Variable Annuity PBR

Annuity Reserves Work Group presentation on its work related to issues that need to be modified for non-variable annuities to the Life Actuarial Task Force. (August 05, 2017 )

Work Group Report to LATF on Interest Rate Modernization

Standard Valuation Law Interest Rate Modernization Work Group presentation to the NAIC's Life Actuarial Task Force (LATF) summarizing its activities on its new project to modernize the process of setting valuation interest rates for non-variable annuities (except SPIAs).
(August 05, 2017 )

Life Experience Committee Report on Simplified Issue Composite Mortality Tables

Academy's Life Experience Committee and SOA Preferred Mortality Oversight Group report to the Life Actuarial Task Force on the 2017 simplified issue composite mortality tables. (August 04, 2017 )

Life Experience Committee Presentation on Simplified Issue Table and Report

Mary Bahna-Nolan, chairperson of the Academy's Life Experience Committee and SOA Preferred Mortality Oversight Group, presentation on the 2017 simplified issue composite mortality tables to the Life Actuarial Task Force. (August 04, 2017 )

Committee Amendment Proposal Form on Guaranteed Issue under PBR requirements

Life Experience Committee amendment proposal form to the NAIC's LIfe Actuarial Task Force to implement guaranteed issue mortality tables under principle-based reserve requirements. (August 04, 2017 )

Committee Amendment Proposal Form on Guaranteed Issue under Current Requirements

Life Experience Committee amendment proposal form to the NAIC's Life Actuarial Task Force to implement guaranteed issue mortality tables under current formula requirements. (August 04, 2017 )

Life Experience Committee Presentation on Guaranteed Issue Report

Mary Bahna-Nolan, chairperson of the Academy's Life Experience Committee and SOA Preferred Mortality Oversight Group, presentation on the guaranteed issue report and amendment proposals to the Life Actuarial Task Force. (August 04, 2017 )

Life Experience Committee Presentation on Simplified Issue and Accelerated Underwriting

Mary Bahna-Nolan, chairperson of the Academy's Life Experience Committee and SOA Preferred Mortality Oversight Group, presentation on PBR valuation considerations and recommendations related to accelerated underwriting to the Life Actuarial Task Force. (August 04, 2017 )

Claim Reserve Assumption Basis for Long-Term Disability Policies

Tax Work Group issue brief on the implications of calculating tax-deductible claim reserves based on incurral date versus issue date for long-term disability insurance policies. (July 28, 2017 )

Work Group Comments on Proposed RBC Requirements for Real Estate

C1 Work Group comments to the NAIC's Investment Risk-Based Capital Working Group (IRBC) on their recent proposal on RBC requirements for real estate. (July 24, 2017 )

Academy Interest Rate Generator: Frequently Asked Questions (FAQ)

Updated list of frequently asked questions regarding the Version 7 of the joint Academy-SOA Interest Rate Generator for life insurance products.
(July 17, 2017 )

Comments on Future Experience Study Data Elements

Accelerated Underwriting Project Oversight Group (reporting to the Academy's Life Experience Committee and SoA's Preferred Mortality Oversight Group) comments to NAIC's Life Actuarial Task Force (LATF) discussing future experience study data elements. (July 14, 2017 )

Work Group Report to LATF on Nonforfeiture Modernization

Nonforfeiture Modernization Work Group report to the NAIC's Life Actuarial Task Force (LATF) summarizing its activities, recommendations and conclusions, and items that have not yet been addressed. (July 07, 2017 )

Life Insurance and Annuities: The Impacts of Regulatory Requirements on Consumer Cost and Choice

Government Mandates Work Group issue brief providing information on the impact of laws and regulations on consumer cost and consumer choice for annuity and life insurance benefits. (June 15, 2017 )

Work Group Update on Corporate Bond RBC Factors

C1 Work Group comments to the NAIC with revised recommendations on corporate bond risk-based capital (RBC) factors based on changes to the representative portfolio. (June 08, 2017 )

Work Group Comments to ASB on Principle-Based Reserve ASOP Exposure Draft

PBR Governance Work Group comments to the Actuarial Standards Board (ASB) on the exposure draft for a new ASOP, Principle-Based Reserves for Life Products. (May 31, 2017 )

Life Principle-Based Reserves Under VM-20

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 )

Work Group APF on VM-20 Language on Policy Loans and Separate Account Assets

Life Reserves Work Group amendment proposal form to the National Association of Insurance Commissioners Life Actuarial Task Force regarding the VM-20 wording on modeling of policy loans and separate account assets. (May 12, 2017 )

Work Group Comments on Exposed APF for Section 2G in VM-20

Life Reserves Work Group comments on the National Association of Insurance Commissioners' (NAIC) Life Actuarial Task Force exposed amendment proposal form related to VM-20 Section 2G on model segmentation and the proposed alternative guidance note.
(May 02, 2017 )

Work Group Comments on Exposed APF for VM-20 Definitions

Life Reserves Work Group comments on the National Association of Insurance Commissioners' (NAIC) Life Actuarial Task Force exposed amendment proposal form related to additional definitions under VM-20. (May 02, 2017 )

Model Governance Practice Note

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 )

Task Force Presentation on Longevity Risk

Tricia Matson, chairperson of the Longevity Risk Task Force, gave a presentation to the NAIC's Life Risk-Based Capital (RBC) Working Group regarding the development of a methodology for recognizing longevity risk in statutory reserves and RBC. (April 08, 2017 )

Report to LATF on Guaranteed Issue Mortality Tables

Life Experience Committee report to the NAIC Life Actuarial Task Force (LATF) on 2017 guaranteed issue mortality tables, including spreadsheets with a blended mortality table, a male mortality table, and a (April 06, 2017 )

Life Experience Committee Presentation on Guaranteed Issue and Preneed Mortality

Mary Bahna-Nolan, chairperson of the Academy's Life Experience Committee and SOA Preferred Mortality Oversight Group, presented an update on guaranteed and simplified issue and preneed mortality tables to the Life Actuarial Task Force (LATF). (April 06, 2017 )

Life Experience Committee Presentation on Simplified Issue and Accelerated Underwriting

Mary Bahna-Nolan, chairperson of the Academy’s Life Experience Committee and SOA Preferred Mortality Oversight Group, presented an update on the joint committee’s work to address the Life Actuarial Task Force (LATF) request for information on simplified issue and accelerated underwriting mortality under VM-20. (April 06, 2017 )

Work Group Comments on Operational Risk Draft Report

Life Operational Risk Work Group comments to the NAIC's Operational Risk (E) Subgroup on a draft report on operational life risk-based capital. (March 17, 2017 )

Work Group Comments on VM-22 Draft Report

SVL Interest Rate Modernization Work Group comments to the NAIC's VM-22 (A) Subgroup on the VM-22 Maximum Valuation Interest Rates for Income Annuities draft report. (March 14, 2017 )

Work Group Comments on Revised Weighting Methodology Proposal

SVL Interest Rate Modernization Work Group comments on a revised weighting methodology proposal to the NAIC's VM-22 (A) Subgroup. (February 17, 2017 )

Work Group Comments on VA Quantitative Impact Study

AG 43/C-3 Phase II Work Group comments to the NAIC’s Variable Annuities Issues (E) Working Group on version 1 of the draft specifications for the second quantitative impact study. (February 03, 2017 )

Work Group Comments on LATF’s VM-22 Draft Report

Standard Valuation Law Interest Rate Modernization Work Group comments to the NAIC’s Life Actuarial Task Force (LATF) on its “VM-22: Maximum Valuation Interest Rates for Income Annuities” exposure draft. (January 25, 2017 )

Work Group Comments to New York Agency on Life Insurance Regulation

Non-Guaranteed Elements Work Group comments to the New York state Department of Financial Services on Proposed 11 NYCRR 48 (Insurance Regulation 210) on life insurance and annuity non-guaranteed elements. (January 17, 2017 )

Work Group Comments on Exposed Basic Operational Risk Add-On Proposal

Life Operational Risk Work Group comments to the NAIC's Operational Risk (E) Subgroup on proposed operational risk factors and growth charge for the life risk-based capital (RBC) formula. Appendix attached.

(December 19, 2016 )

Life Experience Committee Provides Update on Simplified Issue and Accelerated Underwriting

Mary Bahna-Nolan, chairperson of the Joint Academy Actuaries Life Experience Committee and SOA Preferred Mortality Oversight Group, presented an update on the new joint initiative of the Academy and the SOA in formulating a work group to address the Life Actuarial Task Force (LATF) request for information on accelerated underwriting mortality under VM-20. (December 08, 2016 )

Life Experience Committee Provides Update on Guaranteed Issue and Preneed Mortality

Mary Bahna-Nolan, chairperson of the Joint Academy Actuaries Life Experience Committee and SOA Preferred Mortality Oversight Group, presented an update on guaranteed and simplified issue and preneed mortality tables to the Life Actuarial Task Force (LATF). (December 08, 2016 )

Update on C1 Factors Provided to LATF

Nancy Bennett, Senior Life Practice Council Fellow, and Rich Owens, member of the Academy C1 Work Group, presented an update on portfolio adjustments to the C1 factors for corporate bonds to the NAIC Investment Risk-based Capital Working Group (December 11, 2016 )

Task Force Updates LATF on RBC, Longevity Risk Issues

Tricia Matson, chair of the Longevity Risk Task Force, gave an update to LATF on the task force’s work, including creating a methodology for recognizing longevity risk in statutory reserves and risk based capital (RBC) and reviewing regulatory and company approaches to longevity risk. (December 08, 2016 )

ARWG Provides Non-Variable PBR Update to LATF

John Miller and Chris Olechowski, co-chairs of the Annuity Reserves Work Group, provided a non-variable annuity PBR update to LATF’s VM-22 Subgroup. (December 08, 2016 )

Subgroup Releases Model Governance Checklist

The Principle-Based Reserves Checklist Subgroup of the Model Governance Work Group released a model governance checklist, which is offered as a resource for practicing life actuaries involved in actuarial model governance. (December 01, 2016 )

Task Force Makes Longevity Risk Presentation to FSOC

The Longevity Risk Task Force gave a presentation to the Financial Stability Oversight Council (FSOC) Nonbank Designations Committee on longevity risk in annuity and life insurance. (November 01, 2016 )

Work Group Comments on AG43 and C-3 Phase II Exposure Draft

AG 43/C-3 Phase II Work Group comments to the Variable Annuities Issues (E) Working Group on the exposed proposal to revise Actuarial Guideline 43 (AG 43) and C-3 Phase II. (November 14, 2016 )

Presentation to FSOC Working Group

Longevity Risk Task Force gave a presentation to the Financial Stability Oversight Council (FSOC) Nonbank Designations Committee on longevity risk in annuity and life insurance.

Work Group Comments on Valuation Rate Buckets for Proposed VM-22 for Income Annuities Draft

SVL Interest Rate Modernization Work Group comments on valuation rate buckets to the NAIC's VM-22 (A) Subgroup on its exposure draft on the VM-22 maximum valuation interest rates for income annuities.

(November 02, 2016 )

Work Group Comments on Proposed Operational Risk Factors and Growth Charge for Life RBC Formula

Work Group Comments on Proposed RBC Factors for Fixed Income Securities

C1 Work Group comments to the NAIC's Investment Risk Based Capital Working Group on proposed RBC factors for fixed income securities for the NAIC’s life RBC formula. (October 17, 2016 )

Work Group Comments on PBR in Issue Paper No. 15X

Tax Work Group comments to the NAIC's Statutory Accounting Principles (E) Working Group in response to the Issue Paper No. 15X concerning the implementation of principle-based reserving (PBR). (October 06, 2016 )

Work Group Comments on Proposal for Life Bond Granularity

C1 Work Group comments to the NAIC's Investment Risk Based Capital Working Group in response to the “Proposal for Life Bond Granularity and Related Issues” dated Sept. 6, 2016. (October 05, 2016 )

Task Force Longevity Risk Presentation to Federal Reserve

Longevity Risk Task Force presentation to the Federal Reserve Insurance Policy Group on longevity risk in annuity and life insurance. (September 30, 2016 )

Work Group Comments to ASB on ASOP 24 Revisions

Life Illustrations Work Group comments to the Actuarial Standards Board (ASB) on revisions to ASOP No. 24 Revision–Compliance with the NAIC Life Insurance Illustrations Model Regulation. (September 29, 2016 )

Work Group Comments to LATF on Standard Nonforfeiture Laws

Nonforfeiture Modernization Work Group comments to the NAIC's Life Actuarial Task Force (LATF) with regard to potentially updating standard nonforfeiture laws. (September 28, 2016 )

Work Group Comments to NAIC Subgroup

Stress Testing Work Group comments to the NAIC's Stress Testing (E) Subgroup on providing assistance to help meet its charge. (September 28, 2016 )

Work Group Comments to NAIC on Non-Jumbo and Jumbo Sample Calculations

SVL Interest Rate Modernization Work Group comments to the NAIC's VM-22 (A) Subgroup on Non-Jumbo and Jumbo Sample Calculations on valuation interest rates. (September 21, 2016 )

Committee Comments to ASB on Proposed ASOP

Life Products Committee comments to the Actuarial Standards Board (ASB) on the proposed Actuarial Standard of Practice (ASOP) that applies to the pricing of life insurance and annuity products. (August 24, 2016 )

Longevity Risk Task Force Update to LATF

Art Panighetti, a member of the Longevity Risk Task Force, update to LATF on the task force’s work, including creating a working definition of “longevity risk,” analyzing U.S. mortality tables and reviewing regulatory and company approaches to longevity risk. (August 24, 2016 )

ARWG Non-Variable Annuity PBR Update to LATF

John Miller, chairperson of the Annuity Reserves Work Group, provided a non-variable annuity PBR update to LATF’s VM-22 Subgroup. (August 24, 2016 )

Life Experience Committee Update on Guaranteed Issue and Preneed Mortality

Mary Bahna-Nolan, chairperson of the Life Experience Committee, update on guaranteed issue and preneed mortality table to the Life Actuarial Task Force (LATF). (August 24, 2016 )

Lifetime Income Risk Joint Task Force Comments to DOL on Lifetime Income Options

Lifetime Income Risk Joint Task Force comment letter to the Department of Labor concerning proposals for increasing retiree income options, with a focus on additional safe harbors that encourage delivering lifetime income.
(August 19, 2016 )

Work Group Comments to NAIC on AG 49

Life Illustrations Work Group 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 01, 2016 )

Work Group Comments to NAIC on Life Risk-Based Capital Formula

Life Operational Risk Work Group 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 )

Work Group Comments to LATF on Statutory Valuation Interest Rates

SVL Interest Rate Modernization Work Group 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 )

LRWG Comments to LATF on VM-20 Product Aggregation

Life Reserves Work Group (LRWG) 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 05, 2016 )

Council Comments to LATF on the Qualified Actuaries

Life Practice Council 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 )

Tax WG Supplemental Report on Three-Year Statutory Transition Period

Tax Work Group supplemental report regarding Federal Tax Reserves and the Life PBR Elective Three-Year Statutory Transition Period for the NAIC's Life Actuarial Task Force. (July 27, 2012 )

Subgroup Comments to LATF on Consolidated ACLI and Academy APF

Role of the Actuary Subgroup comments to the NAIC's Life Actuarial Task Force (LATF) on on the Consolidated ACLI and Academy Amendment Proposal Form. (June 22, 2016 )

Joint Academy/SOA Group Update on Guaranteed Issue and Preneed Mortality

Joint American Academy of Actuaries Life Experience Committee and Society of Actuaries Preferred Mortality Oversight Group update on guaranteed issue and preneed mortality to the Life Actuarial Task Force. (June 16, 2016 )

Subgroup Comments to LATF on Section 4 of VM-G

Role of the Actuary Subgroup comments to the NAIC's Life Actuarial Task Force (LATF) on Section 4 of the Valuation Manual-G. (June 10, 2016 )

Subgroup Comments to LATF on Combined Revisions to VM-G

The Role of the Actuary Subgroup comments to the NAIC's Life Actuarial Task Force (LATF) on combined revisions regarding VM-G of the Valuation Manual. (June 03, 2016 )

LRWG Comments to LATF on Post-Level Term Profit Assumptions

Life Reserves Work Group (LRWG) comments to the NAIC's Life Actuarial Task Force (LATF) on the Minnesota Department of Commerce Amendment Proposal Form (APF) on post-level term profit assumptions. (May 18, 2016 )

Subgroup Comments to LATF on Valuation Manual

Role of the Actuary Subgroup comments to the NAIC's Life Actuarial Task Force (LATF) on recommendations made in amendment proposal forms regarding VM-G of the Valuation Manual. (May 06, 2016 )

LRWG Comments to LATF on Term and ULSG

Life Reserves Work Group (LRWG) comments to the NAIC’s Life Actuarial Task Force (LATF) on currently exposed amendment proposal forms on term and universal life insurance with secondary guarantees. (April 25, 2016 )

LRWG Comments to LATF on Net Premium Reserves

Life Reserves Work Group (LRWG) comments to the NAIC’s Life Actuarial Task Force (LATF) on currently exposed amendment proposal forms on net premium reserves. (April 25, 2016 )

Work Group Comments to LATF on Statutory Valuation Interest Rates

SVL Interest Rate Modernization Work Group comments to the NAIC's VM-22 Subgroup of the Life Actuarial Task Force (LATF) on questions and answers in response to statutory regulations regarding the determination of statutory valuation interest rates. (April 25, 2016 )

Subgroup Comments to LATF on Valuation Manual

Role of the Actuary Subgroup comments to the NAIC’s Life Actuarial (A) Task Force (LATF) on revisions to Section VM-31 of the Valuation Manual applicable to qualified actuaries for clarification and consistency with the Standard Valuation Law. (March 25, 2016 )

Joint Committee Comments to LATF on Valuation Manual

Joint Academy Life Experience Committee and SOA Preferred Mortality Oversight Group comments to the NAIC’s Life Actuarial (A) Task Force (LATF) on the removal of the provisions for unisex rates as applied to reserves. (March 17, 2016 )

Work Group Comments to NAIC on AG 49

Life Illustrations Work Group comments to the NAIC’s IUL Illustration (A) Subgroup on revisions to Actuarial Guideline (AG) 49. (March 14, 2016 )

Subgroup Comments to LATF on Valuation Manual

Role of the Actuary Subgroup comments to the NAIC’s Life Actuarial (A) Task Force (LATF) on revisions to the Corporate Governance Guidance Appendix, Section VM-G, of the Valuation Manual applicable to qualified actuaries for clarification and consistency with the Standard Valuation Law. (March 10, 2016 )

Work Group Comments to NAIC on Statutory Valuation Interest Rates

SVL Interest Rate Modernization Work Group comments to the NAIC's V-22 Subgroup of the Life Actuarial Task Force on statutory regulations regarding the determination of statutory valuation interest rates. (February 23, 2016 )

Work Group Comments on Variable Annuities Blanks Proposal

Actuarial Guideline 43/C-3 Phase II Work Group comments to the NAIC on the variable annuities blanks proposal exposed on Nov. 19. (January 29, 2016 )

LIWG Comments to NAIC on New Working Group

Life Illustrations Work Group (LIWG) comments to the NAIC’s Life Insurance and Annuities (A) Committee on the new working group formed to explore disclosures required in Model #580 and #582. (January 29, 2016 )

Presentation to FSOC on Regulatory Capital Requirements for U.S. Insurers

Academy Senior Life Fellow Nancy Bennett and Senior Casualty Fellow Jim MacGinnitie presentation to the Financial Stability Oversight Council (FSOC) on regulatory capital requirements for U.S. insurers. (December 11, 2015 )

Work Group Comments on AG 49 Revision

Life Illustrations Work Group comments to LATF’s IUL Illustration (A) Subgroup on the draft revision to Actuarial Guideline (AG) 49. (December 01, 2015 )

Joint Academy/SOA Update on Guaranteed Issue, Simplified Issue and Preneed

Joint American Academy of Actuaries Life Experience Committee and Society of Actuaries Preferred Mortality Oversight Group update on guaranteed issue, simplified issue and preneed to the Life Actuarial Task Force at the NAIC Fall 2015 National Meeting. (November 17, 2015 )

Subgroup Comments on Synthetic GIC Model Regulation

Deposit Fund Subgroup comments to the Life Actuarial Task Force on rules for separate accounts that fund guaranteed minimum benefits under group contracts related to the synthetic GIC model regulation. (November 16, 2015 )

NMWG Presentation on Gross Premium Nonforfeiture Method

Nonforfeiture Modernization Working Group (NMWG) presentation on gross premium nonforfeiture method to the Life Actuarial Task Force at the NAIC Fall 2015 National Meeting. (November 15, 2015 )

ARWG Non-Variable Annuity PBR Update to LATF

Annuity Reserves Work Group (ARWG) non-variable annuity PBR update to the Life Actuarial Task Force’s VM-22 Subgroup at the NAIC Fall 2015 National Meeting. (November 16, 2015 )

Modeled Reserve Amendment Proposal

Life Reserves Work Group amendment proposal to the NAIC regarding the definition and clarification of the term “modeled reserve” in the VM-20. (October 21, 2015 )

Risky Business: Living Longer Without Income for Life – Information for Current and Future Retirees

Lifetime Income Risk Joint Task Force issue brief in the Risky Business series explaining how a retiree can use the concept of “risk sharing” to help manage longevity risk through lifetime payout options and individual annuities, as well as other approaches to lessen risk. (October 22, 2015 )

Risky Business: Living Longer Without Income for Life – Actuarial Considerations for Financial Advisers

Lifetime Income Risk Joint Task Force issue brief in the Risky Business series providing actuarial insights regarding lifetime income planning. (October 22, 2015 )

Risky Business: Living Longer Without Income for Life – Legislative and Regulatory Issues

Lifetime Income Risk Joint Task Force issue brief in the Risky Business series exploring legislative and regulatory approaches that emphasize financial literacy and education for prospective retirees, refocusing plan design on lifetime income needs, and refocusing federal retirement policies to support lifetime income needs. (October 22, 2015 )

Retiree Lifetime Income: Product Comparisons

Lifetime Income Risk Joint Task Force issue brief intended to give a high-level perspective on a few key risks and aspects related to lifetime income. (October 22, 2015 )

Retiree Lifetime Income: Choices & Considerations

Lifetime Income Risk Joint Task Force issue brief explaining general retirement planning considerations. (October 22, 2015 )

Comments to NAIC on Contingent Deferred Annuities

Nonforfeiture Modernization Work Group comments related to cancellation benefits on contingent deferred annuities (CDAs) to the NAIC CDA (A) Working Group (CDAWG). (October 20, 2015 )

Comments to NAIC on Variable Annuities Framework for Change

AG 43/C-3 Phase II Work Group comments on the "Variable Annuities Framework for Change" to the NAIC’s Variable Annuities Issues (E) Working Group. (October 16, 2015 )

C1 Work Group Comments on Proposed C-1 Asset RBC Requirement

C1 Work Group (C1WG) comments on the ACLI’S proposed Life Insurer C-1 Asset Risk-Based Capital Requirement – Real Estate that was exposed by the NAIC Investment Risk-Based Capital Working Group. (September 29, 2015 )

LIWG Comments on Life Insurance Policy Illustration Issues

Life Illustrations Work Group (LIWG) comments to the Life Insurance and Annuities (A) Committee regarding illustration issues that could be reviewed by the proposed Illustration Review (A) Working Group. (September 30, 2015 )

PBR Strategy Subgroup Comments on XXX/AXXX Credit for Reinsurance Model Regulation Draft

Principle-Based Reserves Strategy Subgroup comments to Reinsurance Task Force on XXX/AXXX Credit for Reinsurance Model Regulation Draft. (September 30, 2015 )

VM-22 Subgroup Comments on Non-Variable Annuities and Deposit Funds

VM-22 drafting subgroup of the Annuity Reserve Work Group (ARWG) comments to LATF’s VM-22 subgroup on sections of VM-22 that cover all non-variable annuities and deposit funds. (September 29, 2015 )

Comments to PBRITF on ‘Substantially Similar’ Exposure Draft

Life Practice Council comments to the NAIC’s Principle-Based Reserving Implementation (EX) Task Force on its “Substantially Similar Terms and Provisions” to Determine the Valuation Manual Operative Date exposure draft. (September 17, 2015 )

Addendum: Compliance with Actuarial Guideline XLIX

Addendum to Illustrations Work Group’s practice note, Actuarial Standard of Practice No. 24: Compliance with the NAIC Life Insurance Illustrations Model Regulation, to reflect the recently adopted Actuarial Guideline 49. (August 28, 2015 )

Life Illustrations Work Group IUL Bonus Paper to LATF

Life Illustrations Work Group educational paper describing various bonus structures and the illustration Disciplined Current Scale (DCS) supportability testing for life insurance products subject to the NAIC Life Insurance Illustrations Model Regulation.

(August 14, 2015 )

Academy Presentation on YRT Reinsurance and Guaranteed Issue, Simplified Issue and Preneed Update at NAIC Summer Meeting

Academy representatives Richard Daillak and Mary Bahna-Nolan presentation at NAIC Life Actuarial (A) Task Force at the NAIC Summer 2015 National Meeting. Mr. Daillak, Chair of the Life Reinsurance Work Group, presented on Treatment of YRT reinsurance in Stochastic Exclusion Ratio Testing. Ms. (August 14, 2015 )

C-1 Work Group Presentation to NAIC on C-1 Factors for Corporate Bonds

C-1 Work Group report and presentation to the NAIC’s Investment Risk-Based Capital Working Group on C-1 factors for corpo (August 19, 2015 )

Academy Committees Comment on PCAOB Auditor and Specialist Paper

The Financial Reporting Committee, Pension Accounting Committee, Casualty Committee on Property and Liability Financial Reporting, Health Financial Reporting and Solvency Committee, and Life Financial Reporting Committee comments on the Public Company Accounting Oversight Board’s (PCAOB) “The Auditor's Use of the Work of Specialists” consultation paper. (July 15, 2015 )

Academy Councils Comments on NAIC E Committee Questionnaire

The Casualty Practice Council, Health Practice Council, Life Practice Council, and Risk Management and Financial Reporting Council comments to the National Association of Insurance Commissioners (NAIC) on its Financial Condition (E) Committee questionnaire that examines the reasons for single-state solutions to help regulators develop a process for creating a uniform framework for state-based regulation. (July 27, 2015 )

Amendment Proposals on New CSO Tables in Valuation Manual

Joint American Academy of Actuaries Life Experience Committee and Society of Actuaries Preferred Mortality Oversight Group amendment proposals to the Life Actuarial Task Force on VM-02 Section 5A, VM-20 Sections 3 and 6, (July 23, 2015 )

Task Force Comments on Proposed DOL Fiduciary Rule

Lifetime Income Risk Task Force comments to the Department of Labor regarding the proposed regulations defining fiduciaries and conflict of interest.
(July 20, 2015 )

Work Group Report on RSM Uses for Annuity Reserves

Annuity Reserves Work Group Report to the NAIC's VM-22 (A) Subgroup on the uses of the representative scenarios method (RSM) for calculating annuity reserves. (June 23, 2015 )

Presentation on Lifetime Income Insurance Products at CIPR Symposium

Presentation on lifetime income insurance products and related issues at the NAIC Center for Insurance Policy and Research (CIPR) Symposium on retirement issues. (June 16, 2015 )

Deposit Fund Subgroup letter to NAIC Life Actuarial (A) Task Force recommending edits to model regulation 695 concerning synthetic guaranteed investment contracts (GICs). (June 15, 2015 )

LPC Presentation on Stress Testing of Life Insurers

Members of the Life Practice Council and Senior Life Fellow Nancy Bennett presentation to the Treasury Department's Office of Financial Research on stress testing of U.S. life insurers. (June 12, 2015 )

Work Group Comment Letter on Nonforfeiture Benefits for CDAs

Nonforfeiture Modernization Work Group comment letter to NAIC Life Actuarial (A) Task Force on exposed edits to the standard nonforfeiture law for annuities regarding requirements for contingent deferred annuities (CDA). (May 13, 2015 )

Subgroup Comment Letter on Synthetic GIC Model Regulation

Deposit Fund Subgroup comment letter to NAIC Life Actuarial (A) Task Force on exposed edits to the model regulation for synthetic guaranteed investment contracts (GIC). (April 22, 2015 )

Work Group Comments on Proposed Actuarial Guideline for IUL Illustrations

Life Illustrations Work Group comment letter to NAIC Life Actuarial (A) Task Force on proposed actuarial guideline for indexed universal life illustrations. (April 14, 2015 )

Nonforfeiture Modernization Work Group Report

Nonforfeiture Modernization Work Group update to the NAIC Life Actuarial (A) Task Force at the NAIC Spring 2015 National Meeting. (March 27, 2015 )

Mortality Table Development Update Presentation

American Academy of Actuaries and Society of Actuaries Joint Project Oversight Group presentation to the NAIC Life Actuarial (A) Task Force on the development of the 2014 VBT tables, 2017 CSO tables, and PBR margins. (March 26, 2015 )

LCAC Comments on XXX/AXXX Reinsurance Framework Exposure Drafts

Life Capital Adequacy Committee (LCAC) comment letter to the NAIC Life Risk-Based Capital (E) Working Group regarding the latest exposure drafts related to the XXX/AXXX reinsurance framework. (March 20, 2015 )

Work Group Comment Letter on Exposed Actuarial Guideline for IUL Illustrations

Life Illustrations Work Group comment letter to NAIC Life Actuarial (A) Task Force on exposed actuarial guideline for indexed universal life illustrations. (March 11, 2015 )

Comments on XXX/AXXX Reinsurance Supplemental Proposal

PBR Strategy Subgroup and Life Reinsurance Work Group comment letter to NAIC PBR Implementation (EX) Task Force on exposure of XXX/AXXX reinsurance supplemental proposal. (February 23, 2015 )

Work Group Comment Letter on Stress Testing of Life Insurance Reserves

Stress Testing Work Group comment letter to NAIC Stress Testing (E) Subgroup on stress testing proposal as an outline for field testing of life insurance reserves. (January 30, 2015 )

LCAC Comment Letter on XXX/AXXX Reinsurance Framework Exposure Drafts

Life Capital Adequacy Committee (LCAC) comment letter to the NAIC Life Risk-Based Capital (E) Working Group regarding exposure drafts related to the XXX/AXXX reinsurance framework.
(January 29, 2015 )

Legislation-in-Brief on Standard Valuation Law and PBR

Life Practice Council brief and FAQ supporting the adoption of the NAIC model Standard Valuation Law and Principle-Based Reserves. (January 15, 2015 )

Work Group Letter to NAIC on Principles for Sound Actuarial Guideline for Illustrations

Life Illustrations Work Group letter to NAIC Life Actuarial (A) Task Force regarding principles for a sound actuarial guideline on illustrations for life insurance products. (January 08, 2015 )

Academy Comments to NAIC on Operational Risk

Life Capital Adequacy Committee, Property and Casualty Risk-Based Capital Committee, and Health Solvency Work Group comments to the National Association of Insurance Commissioners (NAIC) on operational risk issues. (January 07, 2015 )

Comments on Exposure Draft of Life Insurance and Annuity Pricing ASOP

Life Products Committee (LPrC) comment letter to Actuarial Standards Board on exposure draft of an Actuarial Standard of Practice (ASOP) on Life Insurance and Annuity Pricing. (December 15, 2014 )

LPC Comments on Exposure Draft of PBR ASOP

Life Practice Council (LPC) comment letter to Actuarial Standards Board on exposure draft of an Actuarial Standard of Practice (ASOP) on Principle-Based Reserves for Life Products.
(December 15, 2014 )

C-3 Work Group Instructions and Spreadsheet for CTE 90 Calculation

C-3 Work Group updated instructions and spreadsheet to the NAIC Life Risk-Based Capital (RBC) Working Group for calculating the CTE 90 RBC measure as part of the 2014 C-3 Phase 1 RBC field test for large companies. Download C3_Phase_1_CTE_90_Measure_2014-10-28_version_1.xlsm.

(November 03, 2014 )

Synthetic GIC Model Regulation Proposed Changes

Deposit Fund Subgroup proposed changes to existing model regulation for synthetic guaranteed investment contracts (GIC). (November 14, 2014 )

Synthetic GIC Reserve Supplemental Proposal

Deposit Fund Subgroup supplemental proposal for reserving synthetic guaranteed investment contracts (GIC). (November 14, 2014 )

Proposed Modifications to Regulations of Synthetic GICs Presentation

Deposit Fund Subgroup presentation to the NAIC Life Actuarial (A) Task Force on a proposal to modify existing regulations of synthetic guaranteed investment contracts (GIC). (November 14, 2014 )

Mortality Table Development Update Presentation

American Academy of Actuaries and Society of Actuaries Joint Project Oversight Group presentation to the NAIC Life Actuarial (A) Task Force on the development of the 2014 VBT and CSO tables. (November 14, 2014 )

Work Group Comments on Updated Regulatory Guidance for Issuers of CDAs

Contingent Annuity Issues Work Group comment letter to NAIC Contingent Deferred Annuity (A) Working Group on regulatory guidance for issuers of CDAs. (November 07, 2014 )

Comments to PBR Implementation Task Force on AG 48 Exposure Draft

PBR Strategy Subgroup comment letter to NAIC PBR Implementation (EX) Task Force (PBRITF) on an exposure draft of AG 48. (October 30, 2014 )

Work Group Comment Letter on Proposed Actuarial Guidelines for Indexed Universal Life Illustrations

Life Illustrations Work Group comment letter to the NAIC Life Actuarial Task Force (LATF) on the proposed actuarial guidelines for indexed universal life illustrations. (October 28, 2014 )

Treatment of VOBA, Goodwill, and Other Intangible Assets Under PGAAP

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 )

Comments to LATF on Updated AG 48 Exposure Draft

PBR Strategy Subgroup comment letter to NAIC Life Actuarial Task Force (LATF) on updated AG 48 exposure draft. (October 02, 2014 )

Comments to LATF on AG 48 Exposure Draft

PBR Strategy Subgroup comment letter to NAIC Life Actuarial Task Force (LATF) on AG 48 exposure draft. (September 17, 2014 )

Work Group Comments on Regulatory Guidelines for CDAs

Contingent Annuity Work Group comments to NAIC Contingent Deferred Annuity Working Group on regulatory guidelines for CDAs. (September 12, 2014 )

Presentation to NAIC on C-1 Factors for Corporate Bonds

C-1 Work Group presentation to the NAIC’s Investment Risk-Based Capital Working Group on C-1 factors for corporate bonds.

(August 16, 2014 )

Exposure Draft: Asset Adequacy Analysis

Asset Adequacy Analysis Committee practice note exposure draft on current practices in asset adequacy analysis and testing. Exposed for comment until Oct.6. (August 21, 2014 )

Mortality Table Development Update Presentation

Presentation to the NAIC’s Life Actuarial Task Force on development of the 2014 VBT Primary Tables. (August 15, 2014 )

AG33 Non-Elective Task Force Letter on AG33

AG33 Non-Elective Task Force letter to NAIC Life Actuarial Task Force on Actuarial Guideline XXXIII. (August 15, 2014 )

Nonforfeiture Modernization Work Group Report

Nonforfeiture Modernization Work Group update to the NAIC Life Actuarial Task Force. (August 15, 2014 )

Subgroup Comments on Rector Report NPR Component

Principle-Based Reserves Strategy Subgroup comment letter to NAIC Life Actuarial Task Force on the Net Premium Reserve component of the Rector report. (August 12, 2014 )

Academy PBR Presentation at NCOIL Summer Meeting

Academy Senior Life Fellow Nancy Bennett presentation on principle-based reserving (PBR) implementation that included a legislation-in-brief document and FAQs at National Conference of Insurance Legislators Summer Meeting.

(July 11, 2014 )

Comments on June 4 Rector Report

Life Practice Council comment letter to the NAIC Principle-based Reserving Implementation (EX) Task Force on June 4 exposure of the Rector Report.
(June 25, 2014 )

Comments on 2013 Individual Disability Income Valuation Tables

Tax Work Group comment letter to NAIC Health Actuarial Task Force on tax implications of 2013 Individual Disability Income Valuation Tables. (June 26, 2014 )

New Academy Newsletter on PBA

Academy’s new PBA Perspectives provides quarterly updates on activities surrounding the implementation of the principle-based approach for life insurance.

(June 20, 2013 )

Regulatory Capital Requirements for U.S. Life Insures

Academy Senior Life Fellow Nancy Bennett presentation to Financial Stability Oversight Council Insurance Industry Work Group on regulatory capital requirements for U.S. life insurers.
(June 17, 2014 )

Comments on Stress Testing Proposal

Stress Testing Work Group comments on NAIC Life Risk-Based Capital Working Group stress testing proposal.
(June 18, 2014 )

C-3 Work Group Recommendation on RBC Interest Rate Risk

C-3 Work Group report on recommended approach for updating regulatory Risk-Based Capital requirements for interest rate risk for fixed annuities and single premium life insurance (C-3 Phase I).
(June 12, 2014 )

Comments on Most Recent Separate Account Recommendations

Separate Account Product Work Group comment letter to the NAIC Separate Account Risk Working Group on its revised recommendations for separate accounts exposed May 7, 2014.
(June 05, 2014 )

Comments on Reinsurance Ceded Interpretation

Reinsurance Work Group comment letter to the NAIC Emerging Actuarial Issues Working Group on the exposed Reinsurance Ceded Interpretation Question.
(June 02, 2014 )

Report to NAIC on Updating RBC Requirements for Interest Rate Risk

C-3 Work Group report to NAIC’s Life-Based Capital Working Group on recommended approach for updating regulatory risk-based capital requirements for interest rate risk for fixed annuities and single premium life insurance. (May 27, 2014 )

Work Group Comment Letter on Guidance for Indexed Universal Life Illustrations

Life Illustrations Work Group comment letter to the Life Actuarial Task Force on ACLI proposal for an Actuarial Guideline for Indexed Universal Life Illustrations.
(May 23, 2014 )

C3 Phase 1 Report to the NAIC

C3 Phase 1 Report to the NAIC RBC Work Group. (October 01, 1999 )

LPC Comment Letter on Proposed Small Company Exemption to VM-20

Life Practice Council comment letter to the Life Actuarial Task Force on ACLI’s proposed small company exemption to VM-20.
(May 15, 2014 )

Work Group Comment Letter on CDA Capital and Reserve Proposals

AG 43/C-3 Phase II Work Group comment letter to NAIC on ACLI proposals for modification of reserve and capital requirements for contingent deferred annuities. (May 08, 2014 )

Additional Comments on Separate Account Recommendations

Separate Account Products Work Group additional comments on the Potential Actions/Recommendations (Document 2) exposed for comment on Nov. 18, 2013, by the NAIC Separate Account Risk (E) Working Group.
(May 05, 2014 )

PBRSS Comments on Possible Interim Captives Meeting

Principle-based Reserve Strategy Subgroup (PBRSS) comment letter to the NAIC suggesting topics to be discussed at a potential interim meeting of the PBR Implementation (EX) Task Force.
(April 23, 2014 )

PBRSS Follow-up Comments on Feb. 17 Rector Report

Principle-based Reserves Strategy Subgroup comments clarifying the suggestion to eliminate the net premium reserve (NPR) component of VM-20 in previous comments on Feb. 17 Report of Rector & Associates to the Principle-Based Reserving Implementation (EX) Task Force.

(April 11, 2014 )

LCAS Comments on March 20 Operational Risk Proposal

Life Capital Adequacy Subgroup 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.
(April 15, 2014 )

Exposure Draft: Treatment of Intangible Assets under PGAAP

Practice note detailing practices on the purchase method of accounting on VOBA, goodwill and other intangible assets under Generally Accepted Accounting Principles commonly referred to as Purchase GAAP. Exposed for comment until June 2.
(April 04, 2014 )

CAIWG Response to Questions from the NAIC

Contingent Annuity Issues Work Group responses to questions from the NAIC regarding the reserving and capital requirements for contingent annuities.
(March 21, 2014 )

PBRSS Comments on February 2014 Rector Report

Principle-Based Reserve Strategy Subgroup comments on the exposed Feb. 17, 2014, Report of Rector & Associates, Inc. to the Principle-Based Reserving Implementation (EX) Task Force.
(March 21, 2014 )

Work Group Presentation on C-1 Factors for Corporate Bonds

C-1 Work Group presentation to the NAIC Investment Risk-Based Capital Working Group on C-1 Factors for Corporate Bonds in Life Risk-Based Capital Instructions.
(March 29, 2014 )

Update on the Nonforfeiture Modernization Work Group

Nonforfeiture Modernization Work Group update to the NAIC Life Actuarial Task Force on the Gross Premium Nonforfeiture Method.
(March 28, 2014 )

Non-Elective Incidence Reserve Proposal

Actuarial Guideline 33 Non-elective Incidence Proposal Work Group presentation to the NAIC Life Actuarial Task Force with proposed language to Actuarial Guideline 33 to address non-elective incidence reserve issue.
(March 28, 2014 )

Due Premium Treatment Amendment Proposal

Life Reserves Work Group Amendment Proposal regarding treatment of due premiums in VM-20 reserve calculation. (March 27, 2014 )

Mortality Table Development Update

Life Experience Subcommittee presentation to the NAIC Life Actuarial Task Force on a mortality update on development of the 2014 Commissioners Standard Ordinary table, the 2014 Valuation Basic Table, and margins under VM-20 for determination of Prudent Estimate Mortality.
(March 27, 2014 )

Actuary Serving Congress: A Conversation with GAO’s Chief Actuary

Presentation by Frank Todisco, chief actuary of the Government Accountability Office, at an Academy Capitol Forum webinar on the GAO’s mission, the role of the actuary at the agency, and some of its selected work areas. (March 20, 2014 )

Revised Amendment Proposal on Due Premiums in VM-20

Life Reserves Work Group revised amendment proposal regarding treatment of due premiums in VM-20 reserve calculation.
(February 05, 2014 )

Comments to NAIC on Definition of Qualified Actuary

Academy comments to NAIC’s Joint Qualified Actuary (A/B/C) Subgroup on definitions of “qualified actuary” as prescribed by the NAIC. (February 03, 2014 )

Work Group Nonforfeiture Illustrations for GLWBs

Nonforfeiture Modernization Work Group spreadsheet for the NAIC Life Actuarial Task Force that illustrates potential nonforfeiture benefits for guaranteed lifetime withdrawal benefits contained in fixed deferred annuities based on the work group’s December (January 30, 2014 )

Academy Letter to NAIC on Operational Risk Proposal

Letter from Academy RBC work groups to the NAIC SMI RBC Subgroup regarding the NAIC’s Dec. 9 Operational Risk Proposal. (January 30, 2014 )

LPC Follow-up Comments on Rector Report

Life Practice Council comments on proposed “actuarial standard” in Report of Rector & Associates to the NAIC Principle-Based Reserving Implementation (EX) Task Force.
(January 15, 2014 )

Comments on Separate Account Recommendations

Separate Account Products Work Group comments on the Potential Actions/Recommendations (Document 2) exposed for comment on Nov. 18, 2013, by the NAIC Separate Account Risk (E) Working Group.
(January 10, 2014 )

Comments on Insulating Separate Account Assets for Non-Variable Products

Separate Account Products Work Group comments to the NAIC’s Separate Accounts Risk Working Group on suggested principles for insulating separate account assets for non-variable products. (December 13, 2013 )

LRWG Memo of VM-20 Spreads to LATF

Life Reserves Work Group memo to the NAIC’s Life Actuarial Task Force of VM-20 on current and long-term spread tables. (December 13, 2013 )

Proposed Amendment to NAIC on Direct Iteration vs. Gross Premium Valuation for Deterministic Reserves

Life Financial Soundness/Risk Management Committee proposed amendment to NAIC’s Life Actuarial Task Force on whether the direct iteration approach for the deterministic reserve results in the same amount as the gross premium valuation approach currently required by VM-20. (December 13, 2013 )

Update to LATF on Treatment of GLWBs Under Proposed GPNM Nonforfeiture Approach

Nonforfeiture Modernization Work Group update to NAIC’s Life Actuarial Task Force on treatment of GLWBs in fixed deferred annuities under the proposed GPNM nonforfeiture approach. (December 13, 2013 )

Update to LATF on Developing Utilization Assumptions for GLIBs

Annuity Reserves Work Group update to LATF’s VM-22 Subgroup on efforts towards development of appropriate utilization assumptions for Guaranteed Lifetime Income Benefits (GLIBs) in the floor reserve calculation. (December 13, 2013 )

Response to NY Insurance Dept. on Due Premiums

Life Financial Soundness/Risk Management Committee response to the NAIC’s Life Actuarial Task Force regarding questions from the New York Insurance Department on Academy’s proposal for treatment of due premiums. (December 13, 2013 )

LPC Comment Letter on Rector Report

Life Practice Council comments on the Initial Report of Rector & Associates to the NAIC Principle-Based Reserving Implementation (EX) Task Force regarding assets for captive reinsurance.
(November 15, 2013 )

LCAS Comment Letter on Unauthorized Reinsurers

Life Capital Adequacy Subcommittee comment letter to the NAIC’s Life-Risk Based Capital (E) Working Group on its exposure draft on additional collateral for transactions with unauthorized reinsurers before risk-based capital (RBC) credit can be taken by the ceding company.
(October 11, 2013 )

LCAS Comment Letter on Asset Valuation Reserve Double Counting

Life Capital Adequacy Subcommittee comment letter to the NAIC’s Life Risk-Based Capital (E) Working Group regarding double counting of the Asset Valuation Reserve in both RBC and Asset Adequacy Analysis.
(October 11, 2013 )

Work Group Comment Letter on AG 43 Amendment Proposal

AG 43/C-3 Phase II Work Group comment letter to the NAIC C-3 Phase II/AG 43 (E/A) Subgroup regarding recent amendment with modifications to current total return gross wealth ratios for Actuarial Guideline 43.
(September 30, 2013 )

C-3 Phase 1 Alternatives Presentation

Presentation by the C-3 Work Group to the NAIC Life Risk-Based Capital (E) Working Group with recommendation of C-3 Phase 1 alternatives.
(September 18, 2013 )

Academy Interest Rate Generator: Frequently Asked Questions

Updated list of frequently asked questions regarding the Version 7 of the joint Academy-SOA Interest Rate Generator for life insurance products.
(September 12, 2013 )

Actuarial Guideline 33 Non-Elective Incidence Reserve Proposal

Proposal by the Actuarial Guideline 33 Non-Elective Task Force to the NAIC Life Actuarial Task Force regarding reserves for non-elective incidence under Actuarial Guideline 33. (August 22, 2013 )

Actuarial Standard of Practice No. 24

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 )

PBR Internal Modeling Presentation at CIPR Summit

Life Practice Council presentation to the NAIC’s Center for Insurance Policy and Research Summit on issues related to internal modeling for PBR. (August 27, 2013 )

Equity Return Calibration Criteria Presentation

Presentation to the NAIC C-3 Phase II/AG 43 Subgroup on equity return calibration criteria for variable annuity reserve valuation. (June 04, 2013 )

C1 RBC Representative Portfolio Presentation

C1 Workg Group presentation to the NAIC Investment Risk-Based Capital Working Group on the benefits and uses of a representative portfolio for C1 factors in the Risk-Based Capital formula. (August 24, 2013 )

Risky Business Presentation to NAIC

Presentation to the NAIC ERISA Retirement Income Working examining the financial risks of increased lifespans and the needs for retirees to secure lifetime income. (August 24, 2013 )

Presentation on Recent Modeling Efficiency Survey

Modeling Efficiency Work Group presentation to the Life Actuarial Task Force of the results of a modeling survey conducted in 2012. (August 22, 2013 )

Update on Nonforfeiture Treatment of Certain Fixed Deferred Annuities

Nonforfeiture Modernization Work Group update to the Life Actuarial Task Force regarding nonforfeiture treatment of certain fixed deferred annuities under the proposed gross premium nonforfeiture method approach.

(August 22, 2013 )

Presentation on Potential VM-22 Reserve Methodology

Annuity Reserve Work Group presentation to the Life Actuarial Task Force on potential reserve methodology for non-variable annuities in VM-22. (August 22, 2013 )

Report on Potential VM-22 Reserve Methodology

Annuity Reserve Work Group report to the Life Actuarial Task Force on potential reserve methodology for non-variable annuities in VM-22.

(August 22, 2013 )

Aggregate Margin Proposal for VM-20 Presentation

Aggregate Margin Task Force presentation of proposal to replace individual margin in VM-20 with aggregate margin approach. (August 22, 2013 )

Aggregate Margin Proposal for VM-20

Aggregate Margin Task Force proposal to replace individual margin in VM-20 with aggregate margin approach.

(August 22, 2013 )

VM-20 Scope Amendment Proposal

Life Reserve Work Group amendment proposal to the Life Actuarial Task Force regarding treatment of individually underwritten certificates issued under a group life insurance contract.

(August 22, 2013 )

Treatment of Due Premiums Amendment Proposal

Life Reserve Work Group amendment proposal to the Life Actuarial Task Force regarding treatment of due premiums in VM-20 reserve calculation.

(August 22, 2013 )

LRWG Treatment of Due Premiums Amendment Proposal

Life Reserve Work Group amendment proposal to the Life Actuarial Task Force regarding treatment of due premiums in VM-20 reserve calculation.

(August 22, 2013 )

Letter of Credit Amendment Proposal

Life Reserve Work Group amendment proposal to the Life Actuarial Task Force regarding treatment of letters of credit and other similar assets in the VM-20 reserve calculation.

(August 22, 2013 )

C1 Work Group Comment Letter to NAIC on Common Stock Proposal

Comment letter from the C1 Work Group to the NAIC Investment Risk-Based Capital Working Group on Illinois’ common stock proposal for C1 Risk-based Capital.
(July 24, 2013 )

Academy Annuity Presentation at NCOIL Meeting

Senior Life Fellow Nancy Bennett presentation to a National Conference of Insurance Legislators panel on annuities regulation at its summer meeting. (July 13, 2013 )

FSRM Comments on SSAP No. 56 Exposure Draft

Financial Soundness/Risk Managment Committee comments to NAIC Statutory Accounting Principles (E) Working Group on SSAP No. 56 exposure draft. (April 30, 2009 )

Capitol Hill Briefing Presentation—Risky Business: Living Longer Without Income for Life

Capitol Hill briefing presentation that examines the financial risks of increased lifespans and the need for retirees to secure lifetime income. (June 27, 2013 )

Risky Business: Living Longer Without Income for Life

Discussion paper by the Lifetime Income Risk Joint Task Force that examines the importance of a secure income that lasts an entire lifetime. (June 19, 2013 )

Subgroup Comments on NAIC Legislative and Educational Briefs on PBR

PBR Strategy Subgroup comment letter to the NAIC Principle-Based Reserving Implementation (EX) Task Force on the May 9 drafts of the PBR legislative and educational briefs.
(June 11, 2013 )

Comment on NAIC PBR Draft Implementation Plan

Life Practice Council comment letter to the NAIC Principle-Based Reserving Implementation (EX) Task Force praising additional language in the April 3 NAIC PBR Draft Implementation Plan and offering assistance with evaluating and updating the PBR methodology.
(May 06, 2013 )

Additional PBR Strategy Subgroup Comments on NAIC Legislative Brief

PBR Strategy Subgroup comment letter to the NAIC Principle-Based Reserving Implementation (EX) Task Force regarding the potential impact of PBR in its draft legislative brief.
(May 06, 2013 )

PBR Strategy Subgroup Comments on NAIC Legislative Brief

PBR Strategy Subgroup comment letter to the NAIC Principle-Based Reserves (EX) Task Force on its legislative brief outlining the ramifications of the Standard Valuation Law for state legislatures.
(April 22, 2013 )

Report on Modeling Efficiency Techniques in U.S. Life Insurance Industry

Report on the results of a survey of modeling efficiency techniques among U.S. life insurers in 2012. (April 18, 2013 )

C1 Bond Factor Development Presentation to NAIC

C1 Work Group presentation to the NAIC Investment Risk-Based Capital Working Group on the development of factors for corporate bonds in the RBC formula. (April 06, 2013 )

LRWG Policy Loan Amendment Proposal

Life Reserves Work Group amendment proposal form to the Life Actuarial Task Force clarifying the approach in VM-20 to model policy loan cash flows in the deterministic reserve and stochastic reserve calculations. (April 04, 2013 )

LRWG Pre-Tax Investment Maintenance Reserve Amendment Proposal

Life Reserve Work Group amendment proposal form to LATF on the method to recognize the effect of the Pre‐tax Investment Maintenance Reserve (PIMR) in VM-20 when calculating reserves. (April 04, 2013 )

Nonforfeiture Modernization Work Group Update

Nonforfeiture Modernization Work Group update to the Life Actuarial Task Force regarding regulator and consumer information. (April 04, 2013 )

Subgroup Update on Mortality Tables

Life Experience Subgroup update to the Life Actuarial Task Force of studies on the 2014 Valuation Basic Table and Guaranteed Issue/Simplified Issue Mortality Tables. (April 04, 2013 )

LRWG Deterministic Reserve Amendment Proposal

Life Reserves Work Group amendment proposal form outlining a modification to the current deterministic reserve in VM-20 submitted to the Life Actuarial Task Force. (April 04, 2013 )

SAWG Comments on NAIC Draft Recommendation on Separate Accounts

Separate Account Products Work Group (SAWG) comments on the December 20, 2012 document, “Review of Non-Variable, Insulated Products/Product Characteristics with Proposed Recommendations” exposed on January 9 by the NAIC Separate Account Risk (E) Working Group. (March 25, 2013 )

AIWG Illustration Work Group Comments on Iowa Illustration Memo

Annuity Illustration Work Group comments to the Iowa Insurance Division on its March 18 draft memorandum: Annuity Illustrations; 191 Iowa Administrative Code rules 15.61-.69, based upon the new NAIC Annuity Disclosure Model Regulation.
(March 22, 2013 )

Testimony on Department of Labor Lifetime Income Options Hearing

Testimony on the Department of Labor hearing on certain issues relating to Lifetime Income Options for participants and beneficiaries in retirement plans. (August 16, 2010 )

CAWG Comments on Contingent Deferred Annuity Recommendation

Contingent Annuity Work Group comments on the NAIC Contingent Deferred Annuity (A) Working Group's February 13 draft recommendation to the Life Insurance and Annuities (A) Committee. (February 20, 2013 )

Practice Councils' Comments to NAIC Joint Qualified Actuary (A/B/C) Subgroup

Councils' letter to NAIC's Joint Qualified Actuary (A/B/C) Subgroup on the subgroup's two new charges related to defining a "qualified actuary" and recommending a process to address "unprofessional" actuarial work. (February 11, 2013 )

Synthetic GIC Reserve Proposal

Deposit Fund Subgroup proposal for reserving synthetic GICs based upon the Subgroup's report presented to the Life Actuarial Task Force on November 28, 2012. (February 08, 2013 )

Subgroup Comments on Iowa Annuity Illustration Memo

Annuity Illustration Subgroup comments to the Iowa Insurance Division on its December 12, 2012 draft memorandum regarding annuity illustrations. (January 25, 2013 )

Comments on NAIC Buyer’s Guide

Comments by the Annuity Illustration Subgroup to the NAIC Annuity Disclosures (A) Working Group on the November 28, 2012 draft of the Buyers Guide for Deferred Annuities. (January 18, 2013 )

Comments on NAIC PBR Draft Implementation Plan

Comment letter to the National Association of Insurance Commissioners' Principles-Based Reserving (E) Working Group with suggested changes to its November 2012 draft implementation plan for principle-based reserving of life insurance. (January 11, 2013 )

Comment Letter on Reserves and Capital for CDAs

Comment letter to the to the NAIC’s Contingent Deferred Annuity (A) Working Group outlining the applicability of Actuarial Guideline 43 and C-3 Phase II to reserving and capital standards for Contingent Deferred Annuities. (December 21, 2012 )

Comments on Iowa Annuity Illustration Memorandum

Comments by the Annuity Illustration Subgroup on selected FAQs in the October 18, 2012 Iowa Insurance Division draft memorandum, Fixed Indexed Annuity Illustrations and Iowa Administrative code rules 15.61-.69. (December 11, 2012 )

Comments on C-3 Phase II/AG 43 Work Plan Draft

Comments by the Actuarial Guideline 43 / C-3 Phase II Work Group to the NAIC’s C-3 Phase II/AG 43 (E) Subgroup on its November 1, 2012 Work Plan Draft. (December 10, 2012 )

VM-20 Asset Default Presentation

Life Reserves Work Group presentation on background of VM-20 Asset Default Methodology and Development Process to the Life Actuarial Task Force at the NAIC Fall 2012 National Meeting. (November 27, 2012 )

Comments on Commercial Mortgage RBC Proposal

Invested Asset Work Group comment letter to the NAIC Risk-based Capital (RBC) Working Group on American Council of Life Insurers’ Commercial Mortgage RBC Proposal. (November 14, 2012 )

Report on Possible AG 33 Solution for GLIB Business

Annuity Reserve Work Group report on guaranteed living income benefits submitted to the Life Actuarial Task Force at the NAIC Fall 2012 National Meeting. (November 27, 2012 )

Synthetic GIC Reserve Presentation

Deposit Fund Subgroup presentation for reserving synthetic guaranteed investment contracts presented to the Life Actuarial Task Force at the NAIC Fall 2012 National Meeting.

(November 27, 2012 )

Synthetic GIC Reserve Proposal

Deposit Fund Subgroup proposal for reserving synthetic guaranteed investment contracts submitted to the Life Actuarial Task Force. (November 27, 2012 )

Guaranteed Nonforfeiture Basis Factor Assumptions Presentation

Nonforfeiture Modernization Work Group Guaranteed Nonforfeiture Basis Factor presentation of its report to the Life Actuarial Task Force at the NAIC Fall 2012 National Meeting. (November 27, 2012 )

Guaranteed Nonforfeiture Basis Factor Assumptions Report

Nonforfeiture Modernization Work Group Guaranteed Nonforfeiture Basis Factor report to the Life Actuarial Task Force at the NAIC meeting in National Harbor, MD. (November 27, 2012 )

Comments on CDA Definition

Contingent Annuity Work Group comments on the definition of Contingent Deferred Annuities proposed by the ACLI and IRI and exposed by the Contingent Deferred Annuities (A) Working Group. (November 19, 2012 )

IAWG Comment Letter on Commercial Mortgage Proposal

Invested Asset Work Group comments to the NAIC Life Risk-based Capital (RBC) Working Group on a proposal for a new method of determining RBC and asset valuation reserves for commercial mortgages. (November 14, 2012 )

LPC Comment on NAIC PBR Budget Item

Life Practice Council comment letter to the NAIC commending the inclusion of a budget item for the purposes of “Actuarial Guideline 38/Principle-Based Reserving Implementation and Monitoring. (November 09, 2012 )

Ideas for AG43/C-3 Phase II Review Process

Report to NAIC C-3 Phase II/Actuarial Guideline 43 Subgroup detailing ideas for a C-3 Phase II/Actuarial Guideline 43 review process. (October 12, 2012 )

PBR Implementation and Review Process Presentation

Life Practice Council presentation to the NAIC Life Actuarial Task Force with recommendations for review, assessment and improvement of principle-based reserves. (August 09, 2012 )

LPC Comment Letters to NAIC on Valuation Manual

Comment letters to both the NAIC Life Actuarial Task Force and the Life and Annuities (A) Committee from the Academy's Life Practice Council and Life Financial Reporting/Risk Management Committee regarding the need for changes to the valuation manual as well as a formal updating and review process. (July 16, 2012 )

Presentation on Solvency and Risk Management Issues of Contingent Deferred Annuities

Life Practice Council presentation to the NAIC CDA Working Group regarding the solvency and risk management implications of contingent annuities. (June 27, 2012 )

Comment Letter to NAIC Valuation of Securities Task Force

Invested Asset Work Group comments to the NAIC Valuation of Securities (E) Task Force related to modification of the methodology for assigning classifications to investments and changing how classification decisions are implemented. (June 20, 2012 )

VM-20 Amendment Proposal on Mortality

Life Financial Soundness/Risk Management Committee presentation of NAIC's Life and Health Actuarial Task Force Amendment proposal outlining a simplified approach for determining prudent estimate mortality assumption for VM-20. (June 18, 2012 )

NAIC Annuity Buyer's Guides Comment Letter

Annuity Illustration Work Group comments to the NAIC Annuity Disclosure Working Group regarding the latest drafts of the NAIC Annuity Buyer’s Guides distributed on May 15, 2012. (June 15, 2012 )

MEWG Bibliography (Updated December 2011)

The Modeling Efficiency Work Group updated it's bibliography resource with additional references. (December 01, 2011 )

VM-20 Simplified Approach for Mortality Assumption Determination of X and Proposed Margin

Life Financial Soundness Risk/Risk Management Committee presentation offering its findings of a simplified approach for mortality assumptions determination to LATF. (May 17, 2012 )

LPC Letter on Blanks Proposal

Life Practice Council letter to the NAIC Blanks Committee with comments on blanks proposal 2012-04. (May 14, 2012 )

VM-02 Transition Period APF

Tax WG and the Nonforfeiture Improvement WG's amendment proposal form to LATF regarding VM-02 transition period. (January 12, 2012 )

VM-02 References to Mortality Tables APF

Tax WG and the Nonforfeiture Improvement WG's amendment proposal form to LATF regarding VM-02 references to mortality tables. (January 12, 2012 )

Standard Nonforfeiture Law References to Mortality Tables APF

Tax WG and the Nonforfeiture Improvement WG's amendment proposal form to LATF regarding nonforfeiture references to mortality tables. (January 12, 2012 )

Maximum Nonforfeiture Interest Rate APF

Tax WG and the Nonforfeiture Improvement WG's amendment proposal form to LATF regarding maximum nonforfeiture interest rate. (January 12, 2012 )

FS/RM Definitions of Principles

FS/RM provides updated definitions of principles to LHATF. (March 31, 2007 )

FS/RM Presentatuin to LATF on Mortality Loads

Life Financial Soundness/Risk Management Committee presentation to LATF regarding a comparison of the impact of mortality loads. (May 17, 2012 )

FS/RM Presentation to LATF Regarding Value of X

Life Financial Soundness/Risk Management Committee presentations to LATF regarding the determination of X in a simplified mortality approach. (May 17, 2012 )

FS/RM VM-01 Amendment to LATF

Life Financial Soundness/Risk Management Committee's VM-01 amendment to the NAIC Life Actuarial Task Force regarding definitions in the Valuation Manual. (May 11, 2012 )

Comments to NAIC on Proposed Travel Underwriting Provisions

Letter to the chairman of the NAIC Life Insurance and Annuities Committee from the Life Products Committee on revisions to NAIC Unfair Trade Practices Act Concerning Travel Underwriting with suggested revisions. (January 31, 2007 )

ESWG Status Report C-3 Phase 1 Interest Rate Model

Economic Scenario Work Group status update provided to the LHATF and LRBC Work Group on C-3 Phase 1 Interest Rate Model. (March 31, 2007 )

FS/RM Presents to LATF on PBA

Life Financial Soundness/Risk Management (SVL2) Committee presentation on PBA efforts. (March 31, 2007 )

LRWG Report to LHATF on Principle-Based Activities

Life Practice Council presentation to the NAIC Principles-Based Reserving (EX) Working Group with a status report summarizing Council plans for prinicple-based activities in 2007. (March 12, 2007 )

Proposed Requirements for principle-based life reserves, summary of the changes made, and corresponding Life Reserves Work Group presentation to LHATF

(March 31, 2007 )

LPC Update of Summary of Principles for Principle-Based Approach

Life Practice Council updated summary of principles for the principle-based approach to the NAIC's Life and Health Actuarial Task Force. (September 01, 2006 )

LPC Update of Glossary of Principle-Based Terms

Life Practice Council definitions related to principles-based approach to the NAIC's Life and Health Actuarial Task Force. (September 01, 2006 )

Report on Principle-Based Reserves for Non-Variable Annuities

Annuity Reserve Work Group report to the NAIC's Life and Health Actuarial Task Force regarding principle-based reserves for non-variable annuities. (September 01, 2006 )

LRWG Report to LHATF on Updated Drafts of Model Regulation and Actuarial Guidelines

Life Reserves Work Group presentation to the NAIC's Life and Health Actuarial Task Force regarding updated drafts of the model regulation and actuarial guidelines, federal income tax considerations, individual assumption margins, aggregation, and discount rates. (September 08, 2006 )

Presentation on C3 Phase 3 RBC Activities

Life Capital Adequacy Subcommittee presentation to NAIC's Life RBC Working Group on C3 Phase 3 RBC activities. (September 01, 2006 )

Presentation on C3 RBC Economic Scenarios

Economic Scenario Workgroup presentation to the NAIC regarding changes to the C-3 Phase I Interest Rate Model. (September 01, 2006 )

SVL2 Presentation on Principle-Based Project

SVL2 presentation to LHATF on the principle-based project (June 01, 2006 )

LFSRMC Report on Principle-Based Reserving to In-Force Contracts

Life Financial Soundness/Risk Management Committee report on considerations in determining whether to apply principle-based reserving to in-force contracts. (June 01, 2006 )

PBRGWG Recommendations on Valuation Review

Recommendations on principle-based valuation review (June 01, 2006 )

Report on Immediate and Nonvariable Deferred Annuities

Report on a principle-based methodology for calculating reserves for immediate and nonvariable deferred annuities (June 01, 2006 )

Report on Approach to Life Reserving

Report on GPVAD vs. GPV approach to life reserving (June 01, 2006 )

Applying a Principles-Based Approach to Valuation and Capital Requirements

Life Financial Soundness and Risk Management Committee presentation to the Principle-based Regulation Working Group on applying the principle-based approach to valuation and capital requirements. (June 01, 2006 )

Summary of C3 Phase II Survey

Summary of results from C3 Phase II survey (June 01, 2006 )

Report on Variable Annuity Revenue-Sharing

Report on variable annuity revenue-sharing agreements for mutual fund services (June 01, 2006 )

LPC Questions for NAIC Principle-Based Regulation Working Group

Life Practice Council questions for NAIC Principle-based Regulation Working Group. (June 01, 2006 )

Report on Short-Term Changes Needed in Standard Nonforfeiture Law

Life Products Committee report to the NAIC's Life and Health Actuarial Task Force on short term changes needed to the standard nonforfeiture laws. (September 01, 2006 )

LRWG Report to LHATF

Life Reserves Work Group (LRWG) report to LHATF providing a review of the updated drafts of Model Regulation and Actuarial Guidelines. (June 01, 2006 )

Interim Report to NAIC on Preferred Mortality Table

Interim report on requested review of the ACLI's proposed preferred mortality table (June 01, 2006 )

Report on Proposed Actuarial Guideline

Report on results of survey about proposed actuarial guideline VACARVM (commissioners' annuity reserve valuation method for variable annuities redefined) (June 01, 2006 )

Joint AAA-SOA Preferred Mortality Study Project Update

Presentation of an update on the Academy-SOA preferred mortality study project by Larry Gorski. (June 01, 2006 )

PBRGWG Presentation on Draft Model Regulation on Principle-Based Peer Review

Principle-Based Review and Governance Work Group draft model regulations to the NAIC's Life and Health Actuarial Task Force regarding principles-based valuation review opinions. (September 01, 2006 )

Updated Draft Actuarial Guidelines to NAIC Life and Health Actuarial Task Force

Life Reserve Work Group updated draft actuarial guidelines on reserve documentation and disclosure (AG DIS), on life valuation assumptions (AG PBR-VAL), updated draft model regulation on principle-based life reserving, and summary of changes to the NAIC's Life and Health Actuarial Task Force. (September 01, 2006 )

LRWG Report on Further Guidance Needed When Actuarial Judgment Required

Life Reserves Work Group report on areas where further guidance is needed when actuarial judgment is required. (June 01, 2006 )

LRWG Update to Actuarial Guideline DIS

Life Reserves Work Group update to Actuarial Guideline DIS. (June 01, 2006 )

LRWG Update to Actuarial Guideline MAR

Life Reserves Work Group update to Actuarial Guideline MAR. (June 01, 2006 )

LPC Paper for Testimony at NAIC Hearing on Considering Travel Destination in Life Underwriting

Life Products Council paper supporting a move to a principles-based system to the NAIC's Life Insurance and Annuities Committee regarding the travel underwriting issue. (September 09, 2006 )

LRWG Update on Principle-Based Life Reserving

Life Reserves Work Group update on principle-based life reserving (AG PBR). (June 01, 2006 )

Updated Proposed Model Regulation to NAIC

Updated proposed model regulation and actuarial guidelines on principle-based reserving for life products. (June 01, 2006 )

Summary of Changes in Updated Proposed Model Regulation to NAIC

Summary of changes in updated proposed model regulation and actuarial guidelines on principle-based reserving for life products (June 01, 2006 )

Update to NAIC on Principle-Based Review

Update on principle-based review for LHATF conference call (July 12, 2006 )

C3 Phase 3 Update Presentation

Presentation of a C3 Phase 3 update to LHATF by Nancy Bennett, Larry Gorski, and Peter Boyko. (July 01, 2006 )

SVL2 update on Principle-Based Project

SVL2 update on principle-based project for LHATF (August 04, 2006 )

VARWG report to LHATF on VACARVM

VARWG report to LHATF on VACARVM concerns (August 08, 2006 )

Comments on PBA Review of Principles-Based Valuation

Comments on PBA Review of Principles-based Valuation from Principle-based Review and Governance Work Group. (October 23, 2006 )

Paper for NAIC on Travel Destination

Paper for testimony at an NAIC committee hearing on considering travel destination in life underwriting (September 09, 2006 )

Comments on White Paper, 'The U.S. National State-Based System of Insurance Financial Regulation and the Solvency Modernization Initiative'

Public policy practice groups comments to the NAIC on its draft white paper on the Solvency Modernization Initiative and insurance regulation offering suggestions encompassing RBC, ORSA, and NAIC model laws. (April 30, 2012 )

Variable Annuity Report to NAIC

Variable Annuity Reserves Work Group report on AG VACARVM exposure draft. (October 01, 2006 )

Hybrid Securities Work Plan from IAWG

Hybrid securities work plan from IAWG. (November 01, 2006 )

LWRG Update on Non-Guaranteed Element

LRWG Update on non-guaranteed element (November 01, 2006 )

LRWG Proposal to AG PBR-VAL on Setting Asset Assumptions

LRWG proposal to AG PBR-VAL on setting asset assumptions. (November 01, 2006 )

IAWG Revision of Hybrid Securities Plan

IAWG revision of revised hybrid securities work plan. (December 01, 2006 )

Comment Letter to NAIC on Unfair Trade

Comment Letter on proposed NAIC unfair trade amendment. (December 01, 2006 )

Comment Letter to State Regulators on Florida Travel Underwriting

Life Products Committee comment letter to state insurance regulators on Florida travel underwriting rule. (December 01, 2006 )

Report on Total Adjusted Capital for Modified Coinsurance Reinsurance

Life Capital Adequacy Subcommittee report on total adjusted capital for modified coinsurance reinsurance to the NAIC. (September 01, 2002 )

Report on Latest Version of Actuarial Guideline MMMM

Interim Solutions Subgroup report to the NAIC containing the latest version of Actuarial Guideline MMMM. (August 02, 2002 )

Report Recommendation for Adopting 2001 CSO Tables

Standard Ordinary Work Group report to the NAIC recommending the 2001 CSO tables be adopted. (September 01, 2002 )

Comments on Possible Changes in U.S. Solvency Framework

Life Financial Soundness/Risk Management Committee comments on possible changes in the U.S. solvency framework to the NAIC. (September 01, 2002 )

Follow-up Report on RBC Method for Indexed Separate Accounts

Life Capital Adequacy Subcommittee follow-up report on an RBC Method for Indexed Separate Accounts to the NAIC. (December 01, 2002 )

Report on Life Insurers' Deferred Tax Assets

Life Capital Adequacy Subcommittee report on life insurers' deferred tax assets to the NAIC. (December 01, 2002 )

Report on RBC Impact of Reinsurance Cessions to Unauthorized Reinsurers

Life Capital Adequacy Subcommittee report on the RBC impact of reinsurance cessions to unauthorized reinsurers to the NAIC. (December 01, 2002 )

Recommendations on Implementing C-3 Phase 2

Life Capital Adequacy Subcommittee recommendations regarding the implementation of C-3 Phase 2 to the NAIC. (December 01, 2002 )

Life Capital Adequacy Subcommittee Proposal on Workers' Comp Carve-Out

Life Capital Adequacy Subcommittee proposal regarding workers' compensation carve-out to the NAIC. (December 01, 2002 )

Report on Low Interest Rates and Nonforfeiture Law for Individual Deferred Annuities

Life Products Committee report on low interest rates and nonforfeiture law for individual deferred annuities to the NAIC. (December 01, 2002 )

Comments on Effect of Revisions in AOMR

Life Practice Council comments regarding the effect of revisions in the Actuarial Opinion and Memorandum Regulation. (December 01, 2002 )

Life Capital Adequacy Subcommittee Report on Total Adjusted Capital for Modified Coinsurance Reinsurance

Life Capital Adequacy Subcommittee issued a report on Total Adjusted Capital for Modified Coinsurance Reinsurance to the NAIC. (January 01, 2003 )

Report on Offset Options for Equity Indexed Annuities in Proposed Annuity Nonforfeiture Law

Report on offset options for equity indexed annuities in the proposed annuity nonforfeiture law to the NAIC. (January 27, 2003 )

Supplement to Feb. 2002 Comparison of 3 NAIC RBC formulas

Joint Risk-Based Capital Work Group supplement to a February 2002 comparison of the three NAIC RBC formulas. (March 01, 2003 )

VARWG Report on Reserve Methodology and RBC C-3 Phase 2 Approach

Variable Annuity Reserve Work Group report on reserve methodology and the RBC C-3 Phase 2 approach to the NAIC. (March 01, 2003 )

Report on Modified Coinsurance and Reinsurance RBC Issues

Life Capital Adequacy Subcommittee report to the NAIC regarding modified coinsurance and reinsurance RBC issues. (June 01, 2003 )

Report on Proposed New RBC Method for Indexed Separate Accounts

Life Capital Adequacy Subcommittee report to the NAIC regarding a proposed new RBC method for indexed separate accounts. A spreadsheet accompanies the report. (June 01, 2003 )

VARWG Report on Reserve Methodology Using RBC C-3 Phase 2 Principles

Variable Annuity Reserve Work Group report regarding a reserve methodology using RBC C-3 Phase 2 principles. (June 01, 2003 )

Life Capital Adequacy Subcommittee Progress Report on C-3 Phase 2

Life Capital Adequacy Subcommittee progress report to the NAIC on C-3 Phase 2. (June 01, 2003 )

Report on Revising Standard Nonforfeiture Laws

Nonforfeiture Improvement Work Group report to the NAIC on revising standard nonforfeiture laws. (June 01, 2003 )

Comments on Implementing New Model Nonforfeiture Law for Deferred Annuities

Annuity Nonforfeiture Implementation Work Group comments to the NAIC regarding the implementation of a new model nonforfeiture law for deferred annuities. (June 25, 2003 )

IWG Comments on Mortality Assumptions Used in Life Insurance

Illustrations Work Group comments to the NAIC on mortality assumptions used in life insurance. (June 01, 2003 )

Report on Variable Annuity Guaranteed Minimum Death Benefits

Life Financial Soundness/Risk Management Committee report to the NAIC regarding variable annuity guaranteed minimum death benefit reserves. (September 01, 2003 )

VARWG Update to NAIC on Reserve Methodology for Variable Annuity Products

Variable Annuity Reserve Work Group report to the NAIC summarizing its work to develop a reserve methodology for variable annuity products. (September 01, 2003 )

FS/RM PBR Review and Updating Amendment to LATF

Financial Soundness/Risk Management Committee's amendment proposal form to the NAIC Life Actuarial Task Force regarding the addition of a PBR Review and Updating Process to VM-00. (April 23, 2012 )

Report on Impact of New Annuity Standard Nonforfeiture Law on Reserves

Life Valuation Subcommittee report on the impact of the new annuity standard nonforfeiture law on reserves to the NAIC. (October 21, 2003 )

Memorandum on Draft Revisions to Actuarial Guideline 34 to NAIC

Life Financial Soundness/Risk Management Committee proposed revisions to actuarial guideline 34 to the NAIC. (October 30, 2003 )

Draft Model Regulation for Standard Nonforfeiture Law for Individual Deferred Annuities

Annuity Nonforfeiture Implementation Work Group draft model regulation of the Standard Nonforfeiture Law for Individual Deferred Annuities to the NAIC. (October 21, 2003 )

Annuity Nonforfeiture Model Regulation Report to NAIC

Annuity Nonforfeiture Implementation Work Group report to the NAIC on the Annuity Nonforfeiture Model Regulation. (December 05, 2003 )

VARWG Report on Reserve Methodology to NAIC

Variable Annuity Reserve Work Group report to the NAIC on the ongoing work surrounding the development of a reserve methodology for variable annuity products that uses the principles of the proposed Risk Based Capital (RBC) C-3 Phase II approach. (December 01, 2003 )

Recommendations to NAIC on Calculation of Asset Risk (C-1) Required Capital for Preferred Stock

Life Capital Adequacy Subcommittee recommendations to the NAIC regarding the calculation of the asset risk (C-1) required capital for preferred stock. (March 01, 2004 )

Proposal to NAIC on Risk Based Capital Requirements for C-3a

Life Capital Adequacy Subcommittee recommended changes to the NAIC regarding risk based capital requirements for C-3a. (March 01, 2004 )

VARW Report to NAIC on Reserve Methodology for Variable Annuity Products

Variable Annuity Reserve Work Group report to the NAIC on reserve methodology for variable annuity products that uses the principles of the proposed Risk Based Capital (RBC) C-3 Phase II approach. (March 01, 2004 )

DRWG Report to NAIC on Possible Changes to SVL

Deficiency Reserve Work Group report to the NAIC regarding possible changes to the Standard Valuation Law (SVL), specifically as they relate to the current formulaic approach to determine deficiency reserves. (March 01, 2004 )

Report on General Nonforfeiture Revision to NAIC

Nonforfeiture Improvement Work Group report to the NAIC requesting guidance regarding the group's further activities in relation to potential future work on Standard Nonforfeiture Laws. (March 11, 2004 )

Model Regulation on Annuity Nonforfeiture to NAIC

Annuity Nonforfeiture Implementation Work Group model regulation on annuity nonforfeiture to the NAIC. (March 11, 2004 )

LRWG Report to LHATF Regarding UL with Secondary Guarantee Reinsurance

LRWG report to the LHATF on examples of universal life secondary guarantee reinsurance and analyzes the treatment of the presented situations under the current draft of VM-20. (March 14, 2009 )

Proposed Methodology for Setting Prescribed Default Costs on Existing Fixed Income Investments in VM-20

LRWG Asset Subgroup presentation on a proposed methodology for setting prescribed default costs on existing fixed income investments in VM-20. (March 15, 2009 )

NFIWG Report to LHATF on General Revision of Life and Annuity Standard Nonforfeiture Laws

Nonforfeiture Improvement Work Group update regarding a general revision of life and annuity standard nonforfeiture laws. (March 01, 2009 )

Comparison of 1980 CSO Nonsmoker to 2001 Residual Standard Nonsmoker Table

Preferred Mortality POG presentation comparing the 1980 CSO Nonsmoker table to the 2001 Residual Standard Nonsmoker table. (June 11, 2009 )

AIWG Comments on Annuity Disclosure Model Regulation

Annuity Illustrations Work Group comments to the Annuity Disclosure Working Group on a draft ACLI proposal for an annuity illustrations model regulation. (June 05, 2009 )

NFIWG Report to LHATF on Economic Scenario Generators

Economic Scenario Implementation Work Group update on future plans for economic scenario generators with LHATF. (June 11, 2009 )

Economic Scenario Implementation Work Group (ESIWG) Update to LHATF

Economic Scenario Implementation Work Group update on future plans for economic scenario generators with LHATF. (June 11, 2009 )

Updated VARWG Report and Corresponding Presentation to LHATF

VARWG Responds to Issues Raised by LHATF on AG VACARVM

Variable Annuity Reserves Work Group response to issues raised by LHATF on AG VACARVM during the Spring 2007 NAIC Meeting. (June 30, 2007 )

Academy Invested Asset Work Group Status Report: Required Capital for Hybrid Securities

Invested Asset Work Group presentation providing a status report to the NAIC's Hybrid Working Group. (June 04, 2007 )

LRWG Update to LHATF on Requirements for Principle-Based Reserves for Life Products

LRWG report to LHATF and an update to the March LHATF exposure of the Requirements for Principle-based Reserves for Life Products.

(June 01, 2007 )

SVL2/PBA Presentation to LHATF

Life Financial Soundness/Risk Management (SVL2) Committee presentation to LHATF on SVL2/PBA. (June 01, 2007 )

Comments on Proposed Changes to Unfair Trade Practices Model Act

Life Products Committee comments to the NAIC on travel-related life insurance provisions in a draft model trade law. (July 31, 2007 )

LRWG Response to NY Insurance Department Comments on LRWG Proposal

Life Reserves Working Group response to the New York Insurance Department's comments on the Requirements for Principles-Based Reserves for Life Products from the LRWG. (July 31, 2007 )

Comments on Life, Health Insurance Principles Proposed by NAIC PBRWG

Comments from Life, Health, and Casualty Practice Councils on life and health insurance principles proposed by the NAIC's Principle-based Reserving (EX) Working Group. (August 17, 2007 )

Meeting Summary with New York State Insurance Department on PBR Proposal for Life Products

Summary of a meeting with a New York State Insurance Department official on life PBR. (September 30, 2007 )

IAWG Report on Capital Requirements for Hybrids

Invested Asset Work Group report on hybrid capital requirements. (September 30, 2007 )

RWG Report to NAIC on PBR Risk Transfer Requirements

Reinsurance Work Group report on PBR risk transfer requirements. (September 30, 2007 )

VARWG Comment to NAIC on Exposed AG VACARVM

Variable Annuity Reserve Work Group comments on draft AG VACARVM. (September 30, 2007 )

Modeling Efficiency Work Group Status Report to NAIC

Modeling Efficiency Work Group reports to the LHATF. (September 30, 2007 )

ESWG Report to NAIC on Scenario Generator Models

Economic Scenario Work Group report to the LHATF NAIC on scenario generator models. (September 30, 2007 )

ARWG Report to NAIC on Valuation Manual Work

Annuity Reserves Work Group report to NAIC on Valuation Manual work. (September 30, 2007 )

Proposed Revisions to Draft Valuation Manual

Section 20: PBR requirements for life products. (November 30, 2007 )

Recommended changes to the statutory blank to accommodate principle-based reserving. (December 02, 2007 )

ESG FAQ Document

(April 04, 2012 )

Unified Valuation System (UVS) Compared to Existing Statutory Valuation for a Sample Company

Numerical Examples Group report compares the Unified Valuation System (UVS) to the existing statutory valuation for a sample company. (June 12, 2000 )

Academy/SOA POG Reports on New Mortality Tables

Life Experience Subcommittee presentation providing a report of the joint SOA/Academy Project Oversight Group regarding new mortality tables. (March 01, 2012 )

LRWG Amendment to VM-20 Outlining Streamlined Approach to Mortality

Life Reserve Work Group's VM-20 amendment proposal form to the Life Actuarial Task Force outlining a streamlined approach to mortality. (January 31, 2012 )

CAIWG Comment Letter to NAIC Subgroup

Comment letter to the NAIC’s Contingent Deferred Annuity (A) Subgroup with an analysis comparing market returns for contingent deferred annuities and self insurance. (February 15, 2012 )

LRWG Simplified Mortality Amendment to LATF

Life Reserve Work Group amendment proposal form to the NAIC’s Life Actuarial Task Force regarding the simplified mortality approach to the proposed principle-based reserve (VM-20) requirements. (February 17, 2012 )

Academy Response to Blanks Proposal

Duration Blanks Work Group response to a proposal from the NAIC's Blanks Working Group. (May 30, 2011 )

Payout Annuity Team Report to LATF

Joint Academy/SOA Payout Annuity Table Team report regarding the 2012 Individual Annuity Reserving Table to the Life Actuarial Task Force of the NAIC. The team also included a presentation that was originally scheduled for the NAIC Summer Meeting in Philadelphia that was canceled. (September 28, 2011 )

Lifetime Income Webinar Slides March 7, 2012

(March 07, 2012 )

LRWG Amendment Proposal Regarding VM-20

LRWG's amendment proposal form regarding VM-20 to the Life Actuarial Task Force at the NAIC’s Spring National Meeting. (March 01, 2012 )

ARWG Report on Definition of Deterministic Reserves in VM-22

ARWG report to the NAIC's Life Actuarial Task Force regarding the development of a possible definition of Deterministic Reserves for use in VM-22 at the NAIC's Spring National Meeting with accompanying slide set. (March 01, 2012 )

NFIWG Quarterly Update

Nonforfeiture Improvement Work Group's quarterly report to the NAIC's Life Actuarial Task Force at the NAIC's Spring National Meeting. (March 01, 2012 )

Interest rate FAQ

(February 14, 2012 )

Interest rate FAQ (Updated)

(February 14, 2012 )

CAIWG Responds to Questions

The Risk Analysis Subgroup of the CAIWG responded to question from the NAIC CDA Subgroup
(February 09, 2012 )

Academy LVS submits comments on AG 38 Framework

The Academy Life Valuation Subcommittee submitted a comment letter to the NAIC Joint Working Group of the Life Insurance and Annuities (A) Committee and Financial Condition (E) Committee regarding their draft Framework on Actuarial Guideline 38.
(January 30, 2012 )

Contingent Annuity Presentation Comparing Two Different Investment Arrangements

Contingent Annuity Issues Work Group presentation to the NAIC Contingent Deferred Annuity (A) Subgroup comparing two different investment arrangements: typical contingent annuity design vs. self insurance. (January 19, 2012 )

Approaches to Setting the Discount Rate for Valuation of Insurance Contracts: A Discussion Paper

Tax Work Group discussion paper regarding tax implications for structuring new commissioners’ mortality tables to include the extra mortality risk of business not subject to full underwriting. (December 14, 2011 )

CAIWG Analysis on Contingent Annuities

Contingent Annuity Issues Work Group analysis assisting the National Association of Insurance Commissioners in its work involving contingent annuities. (October 28, 2011 )

Contingent Annuity Analysis Presentation

Contingent Annuity Work Group presentation to the NAIC's Contingent Deferred Annuity (A) Subgroup on contingent annuities, submitted to the NAIC on October 28, 2011. (December 22, 2011 )

Tax Implications of Proposals for Structuring Commissioners’ Mortality Tables to Include the Extra Mortality Risk of Business not Subject to Full Underwriting

Tax Work Group discussion paper to the Life Actuarial Task Force and the American Council of Life Insurers regarding tax implications for structuring new commissioners’ mortality tables to include the extra mortality risk of business not subject to full underwriting. (December 07, 2011 )

The Invested Asset Work Group wrote a letter to the NAIC Life RBC Working Group regarding the ACLI's Proposal on Risk-Based Capital for Commercial Mortgages

The Invested Asset Work Group wrote a letter to the NAIC Life RBC Working Group regarding the ACLI's Proposal on Risk-Based Capital for Commercial Mortgages.

(November 01, 2011 )

IAWG Comments on Rating Agency Work Group Charges

Invested Assets Working Group comments on the NAIC's Securities Valuation Office staff reports related to the rating agency working group charges.

(February 24, 2011 )

NFIWG Summary of Nonforfeiture Related Public Policy Issues for LATF

Nonforfeiture Improvement Work Group summary of public policy issues associated with life and annuity nonforfeiture reform to the NAIC's Life Actuarial Task Force.

(March 01, 2011 )

Update on Development of New Mortality Tables

Life Experience Subcommittee update on the Development of New Mortality Tables to the NAIC's Life Actuarial Task Force. (March 24, 2011 )

Tax WG Report on Three-Year Statutory Transition Period

Tax Work Group report regarding Federal Tax Reserves and the Life PBR Elective Three-Year Statutory Transition Period for the NAIC's Life Actuarial Task Force. Please see July 27, 2012 report updating this report. (March 01, 2011 )

AIWG Comments on NAFA Annuity Disclosure Model Reg

Annuity Illustration Work Group comment reviews on the Annuity Disclosure Model Regulation submitted by the National Association for Fixed Annuities (NAFA) and recommended changes in response to those comments.

(April 28, 2011 )

FS/RM APF to Clarify Issues in VM-20 Impact Study

Financial Soundness/Risk Management Committee amendment proposal to the NAIC's VM PBR Life Subgroup.

(May 18, 2011 )

Comments on NAIC Blanks Proposal

Duration Blanks Work Group proposal from the NAIC's Blanks Working Group. (May 31, 2011 )

Annuity Illustration Work Group Letter on NAIC Annuity Disclosure Model Regulation

Annuity Illustration Work Group letter to the NAIC's Annuity Disclosure Working Group regarding the Annuity Disclosure Model Regulation. (May 20, 2011 )

LRWG Amendment Proposal on VM-20 to NAIC

Life Reserves Work Group's amendment proposal form regarding the VM-20 to the NAIC's VM PBR Life Subgroup. (June 13, 2011 )

IAWG Report on C-1 Framework

Invested Asset Work Group report regarding the C-1 Framework and delivered it to the NAIC Life Risk-Based Capital Working Group. (June 30, 2011 )

Comments on NY Insurance Dept. Proposal on US Government Obligations

Invested Asset Work Group comments on the Reporting Full Faith and Credit and Other U.S. Government Obligations proposal from Matti Peltonen of the New York State Insurance Department that was made to the Valuation of Securities Task Force (VOSTF) on July 7, 2011. (August 11, 2011 )

Letter to LATF on Proposed Language in VM-02

Tax Work Group in conjunction with the Nonforfeiture Improvement Work Group comment letter to the Life Actuarial Task Force regarding issues associated with proposed language in VM-02. (October 03, 2011 )

Contingent Annuity Issues Work Group Comment Letter to NAIC

Contingent Annuity Issues Work Group comment letter to the NAIC Life Insurance and Annuities (A) Committee regarding significant issues associated with contingent annuity products. (October 28, 2011 )

Report of the Nonforfeiture Improvement Work Group

Nonforfeiture Modernization Work Group's Nonforfeiture Improvement Report that makes certain recommendations with respect to life insurance and annuity nonforfeiture mandates and sets forth certain items for further discussion. (August 01, 2011 )

Follow-up Comment to LATF with Suggested Revisions to VM-20

Tax Work Group, in conjunction with the Nonforfeiture Improvement Work Group, follow-up comment letter to the Life Actuarial Task Force with suggested revisions to VM-20. (October 12, 2011 )

Optional Retrospective Application of ASU 2010-26 Acquisition Costs

Life Financial Reporting Committee practice note Optional Retrospective Application of ASU 2010-26 Acquisition Costs. (October 01, 2011 )

Actuarial Practices Relating to Accounting for Insurance Pursuant to International Financial Reporting Standards

Financial Reporting Committee practice note on Actuarial Practices Relating to Accounting for Insurance Pursuant to International Financial Reporting Standards. (March 01, 2011 )

Application of C-3 Phase II

Practice note for the Application of C3 Phase II provides guidance to actuaries dealing with the implementation of the new C-3 Phase II (VA RBC) requirements for Variable Annuities (VAs). (September 01, 2006 )

GAAP Survey Results

Life Insurance Financial Reporting Committee comments on the New York State Insurance Department's draft survey about VAGLBs. (January 24, 2001 )

LRWG Memo to NY Insurance Department on Discount Rates

Life Reserves Working Group memo to New York Insurance Department about discount rates. (December 21, 2005 )

Scenario and Cell Model Reduction

Modeling Efficiency Work Group practice note regarding scenario and cell model reduction. (September 22, 2010 )

AIWG Comments to NAFA on Annuity Disclosure Model Regulation

Annuity Illustration Work Group letter to the National Association of Fixed Annuities with comments in response to its recommendations on the Annuity Disclosure Model Regulation. (February 17, 2011 )

Application of C-3 Phase II and Actuarial Guideline XLIII

Variable Annuity Practice Note Work Group practice note on the Application of C-3 Phase II and Actuarial Guideline XLIII. (April 06, 2011 )