The latest issue of Actuarial Update features the new “Addressing Ethical Concerns” course available on the Academy’s eLearning Center. Also in this issue, Health Practice Council volunteers make their annual visit to Capitol Hill; the new StateScan legislative portal kicked off in March; Academy volunteers’ annual COI and CE attestations are due now; and the “Professionalism Counts” column focuses on objectivity and independence. (March 31, 2016)
The Premium Review Work Group sent a letter to CCIIO with comments on the 2017 unified rate review template (URRT) and instructions. (March 30, 2016)
The Health Solvency Subcommittee sent a letter to the NAIC’s Health Risk-Based Capital (E) Working Group with comments on Proposal 2016-01-H’s individual premiums and claims footnote. (March 28, 2016)
“Addressing Ethical Concerns” is the latest addition to the Academy’s Actuarial eLearning Center. This thought-provoking course takes a deeper, more interactive look at the ethics survey report presented by the Council on Professionalism last spring, focuses on the top perceived ethical concerns facing actuaries in the profession, and provides a decision-making framework for addressing them from the perspective of maintaining the high standards of the actuarial profession. See the upcoming March Actuarial Update for additional coverage. (March 25, 2016)
The Role of the Actuary Subgroup submitted 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)
Following the re-introduction of the Public Employee Pension Transparency Act (PEPTA) in the U.S. House of Representatives, the Academy said that it hopes that the bill will lead to a discussion that raises the awareness of public sector plan issues in the United States, including where information is currently provided, what current disclosures mean, and what other information would be useful to the public. Read the Academy alert and news release. (March 23, 2016)
Joint Academy Life Experience Committee and SOA Preferred Mortality Oversight Group submitted 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)
Senior Pension Fellow Ted Goldman submitted comments to the Senate Finance Committee on its hearing, “The Multiemployer Pension Plan System: Recent Reforms and Current Challenges.” (March 17, 2016)
The Life Illustrations Work Group submitted comments to the NAIC’s IUL Illustration (A) Subgroup on revisions to Actuarial Guideline (AG) 49. (March 14, 2016)
The Academy now provides StateScan—state legislative reports on key topics—as a service to its members. Each report shows legislation in all 50 states on a selected topic, including a short bill summary, legislative status, and sponsor information. All reports automatically update the status of listed bills. Login now to access StateScan here. (March 15, 2016)