The Health Practice Council presented to the NAIC’s Health Insurance and Managed Care Committee on the potential changes to the Affordable Care Act through possible legislation and administrative actions, and subsequent actuarial considerations. (April 09, 2017)
The Health Practice Council presented to the NAIC’s Health Actuarial Task Force on the potential changes to the Affordable Care Act through possible legislation and administrative actions and the actuarial considerations. (April 07, 2017)
Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (April 07, 2017)
Read Academy President Bob Beuerlein’s letter to members explaining why the Academy is reaching out to various segments of our membership to gather data on para-actuaries. (April 06, 2017)
Dear Academy Members,
The Academy is collecting some information about whether there is perceived value to the actuarial profession in the United States for the Academy to consider developing a professionalism structure for those who are in actuarial support roles, those we have called “para-actuaries.”
The Academy is working with a consulting company, Censeo, which specializes in developing quantitative and qualitative surveys, data analyses, and meaningful stakeholder engagement to help us assess whether there is a need and an opportunity that fit in with the Academy’s core values and professionalism mission.
Over the next few weeks, we will be surveying segments of our membership that Censeo has suggested to develop the information we need. Censeo developed the recipient lists for us. The objective of the first survey initiative is to determine whether there would be value to employers in professionalizing actuarial support positions. If you do not receive a survey, it is not because we do not value your input! The survey process is being managed and devised by Censeo to achieve sufficiently diverse and comprehensive sample data from among types of employers to assess the interest in and viability of the Academy’s further exploration of this topic.
We hope to report back to the membership by October on what we have found and what we think any follow-up actions might be, if any.
Bob Beuerlein
President, American Academy of Actuaries (April 06, 2017)
Mary Bahna-Nolan, chairperson of the joint committee of the Academy’s Life Experience Committee and SOA Preferred Mortality Oversight Group, presented updates on its work to the Life Actuarial Task Force (LATF) on guaranteed issue and preneed mortality tables, and simplified issue and accelerated underwriting mortality under VM-20. (April 06, 2017)
On February 8, 2017, Timothy W. Sharpe filed a complaint against the Academy in the United States District Court for the District of Columbia. Sharpe filed an amended complaint on March 16, 2017. The Academy considers the suit without merit and intends to defend it vigorously. The Academy filed a motion to dismiss the amended complaint on April 4, 2017. (April 06, 2017)
Actuarial Standards Board (ASB) Vice Chairperson Frank Todisco writes about Actuarial Standard of Practice (ASOP) No. 32, Social Insurance, which is currently undergoing revision. The ASB created a task force last year to examine ASOP No. 32—which does not fall into any one particular practice area—that met in January and plans to issue a summary of changes and a full exposure draft later this year. (March 31, 2017)
The March Actuarial Update includes the Academy’s health policy activities related to the Affordable Care Act and the American Health Care Act; a call for nominations for Academy regular directors; the “Professionalism Counts” column on ASOP No. 32, Social Insurance; and a remembrance of Academy charter member A. Haeworth Robertson, recipient of the Academy’s Robert J. Myers Public Service Award in 2004. (March 31, 2017)
Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (March 31, 2017)
The Workers Compensation Committee submitted a comment letter to California's Office of Self Insurance Plans that expresses concerns regarding guidance issued to actuaries who are evaluating self-insured workers compensation plans. (March 30, 2017)
The latest issue of StateScan Quarterly features legislative and regulatory activities on ride-sharing companies, Medicaid revisions, public pension plans, and other state topics of interest to actuaries. (March 30, 2017)
The Pension Committee submitted a comment letter to the IRS on an update to mortality tables for determining the present value for defined benefit pension plans. (March 30, 2017)
In the latest Enrolled Actuaries Report, the Multiemployer Plans Subcommittee released notes of its meeting with officials from the Labor and Treasury departments and the Pension Benefit Guaranty Corporation; the Pension Cost Work Group released an issue brief on pension cost determination; and Senior Pension Fellow Ted Goldman identified 10 key retirement and pension issues to watch this year. (March 27, 2017)
