Academy News

The Academy released a statement in response to a new report from the Department of Health and Human Services (HHS) regarding the Community Living Assistance Services and Supports (CLASS) program. 

(October 17, 2011)

In the fall Enrolled Actuaries Report, you’ll meet the Academy’s new senior pension fellow and learn about recently updated standards from the Financial Accounting Standards Board and proposed standards from the Governmental Accounting Standards Board. (October 17, 2011)

The Life Financial Reporting Committee has re-exposed the practice note, Optional Retrospective Application of ASU 2010-26 Acquisition Costs, for an additional two weeks. The deadline for comments is Oct. 28, 2011. (October 14, 2011)

The Academy hosted a jointly sponsored Capitol Hill briefing, Important New Research Findings Indicate a “Rising Tide” of Contributions Facing Defined Benefit Pensions, with the Society of Actuaries on Oct. 11 to present new research findings from the actuarial profession that illustrate a “rising tide” of pension funding challenges facing the private defined benefit system. Presenters discussed important implications for plan sponsors, beneficiaries, and policymakers.

 

(October 12, 2011)

Academy President Mary Frances Miller announced that Mary Bahna-Nolan, Ken Kent, and Catherine Murphy-Barron have been elected by the members to fill open regular director positions on the Academy’s board of directors. Complete election results, including the results of two amendments to bylaws, are available in her letter to the members. See related news release.

(October 06, 2011)

Read about the Academy's recent activities in September 2011 Actuarial Update.

(October 05, 2011)

The Academy is hosting a jointly sponsored Capitol Hill briefing with the Society of Actuaries on Oct. 11 to present new research findings from the actuarial profession that illustrates a “rising tide” of funding challenges facing the private defined benefit system. Presenters will discuss important implications for plan sponsors, beneficiaries, and policymakers. Learn more. (September 30, 2011)

The Financial Reporting Committee commented on a paper by the Public Company Accounting Oversight Board (PCAOB) on the issues surrounding the auditor’s report based on recent investor feedback. The committee’s comments included a recommendation to increase disclosure and provide more detail to the auditor's reporting model. (September 30, 2011)

Read about President Obama’s decision to ask the Supreme Court to rule on the individual mandate requirement in the Affordable Care Act and the Medicare Steering Committee’s letter to the Joint Select Committee on Deficit Reduction in this issue of HealthCheck. (September 30, 2011)

The Academy's Social Security Committee urged President Obama and congressional leaders to improve the long-term solvency and sustainability of Social Security whether in a broader deficit-reduction package or through an alternative legislative track. (September 23, 2011)

The Academy's first-ever online election for open regular director positions on the board of directors ended Sept. 2. Also on the ballot were votes on two bylaws amendments—one implementing the profession-wide changes to the discipline process and another that shortens the term of the presidential office by one year by removing the position of penultimate past president from the Academy board of directors. Results will be announced on or before the Academy Annual Meeting Oct. 24. (September 15, 2011)

The Academy's Medicare Steering Committee urged the Joint Select Committee on Deficit Reduction to develop proposals to slow health care spending growth to improve the long-term solvency and sustainability of the Medicare program. (September 14, 2011)

The Academy's first-ever online election for open regular director positions on the board of directors launched Aug. 3. The election also includes votes on two bylaws amendments—one implementing the profession-wide changes to the discipline process and another that shortens the term of the presidential office by one year by removing the position of penultimate past president from the Academy board of directors. Members will receive an email in the name of the Academy from a mailbox at "directvote.net." The email will have instructions on how to log in to the secure election website and vote. The election will be open until Sept. 2, 2011. For more information on the election, visit the Academy Election Center. (August 31, 2011)

Academy President Mary Frances Miller has sent two letters to correct misstatements made about the Academy and the actuarial profession by third parties. In a letter to the National Association of Insurance Commissioners Life Actuarial Task Force, Miller defined the Academy's work in representing the U.S. actuarial profession on public policy issues and outlined the Academy's policies and procedures that help to maintain the objectivity of its work. In a second letter to the U.S. Treasury Department, Miller reinforced the value that actuaries could bring to the Federal Advisory Committee on Insurance and the actuarial profession's commitment to high professional standards. (August 31, 2011)

Read President Mary Frances Miller's message to Academy members announcing dates of the online balloting for Academy elections, the slate of candidates for open Regular Director positions to be voted on by the membership, the slate of candidates for presidential officers and vice presidents to be voted on by the Board of Directors, and the bylaws amendments to be voted on by the membership. (August 31, 2011)