The Reinsurance Committee submitted comments to the National Association of Insurance Commissioners’ (NAIC) Reinsurance (E) Task Force’s exposure draft, Securities Listed by the Securities Valuation Office, that specifically address the security provided for the purpose of collateralizing reinsurance obligations. (September 05, 2014)

The American Academy of Actuaries announced today that David J. Nolan has joined the organization as its new director of communications and Mary Beth Merrin, Ph.D., has joined the organization as its new director of membership. Click here to read the full news release. (September 04, 2014)

The Joint Committee on Retiree Health sent a letter to the Governmental Accounting Standards Board commenting on proposed statements of accounting and financial reporting by governmental employers for other postemployment benefits (OPEBs). (August 29, 2014)

The Financial Reporting Committee (FRC) submitted a letter to the International Accounting Standards Board on the treatment of participating contracts within the IFRS Foundation’s insurance contracts project that includes discussions on book-yield and effective-yield approaches. (September 02, 2014)

The Academy invites feedback from the public, actuaries, regulators, employers, and other interested parties on its draft “U.S. Qualification Standards Attestation.” The proposed form is for actuaries to demonstrate how they meet the U.S. Qualification Standards for signing statements of actuarial opinion (SAOs) in the United States, including in particular the SAOs associated with the National Association of Insurance Commissioners life, health, and property & casualty annual statements. Review/download the draft and submit your feedback. (October 08, 2014)

The Pension Committee's Public Plans Subcommittee sent a letter to the Governmental Accounting Standards Board commenting on an Exposure Draft on accounting and financial reporting for pension plans that are not administered through trusts and amendments to certain provisions of GASB Statements 67 and 68. (August 29, 2014)

In this month's Actuarial Update, read about a new Academy proposal to help actuaries demonstrate their compliance with the U.S. Qualification Standards; an introduction to the Actuaries Climate Index; online voting for Academy regular directors; the ABCD process for handling complaints; nominees for Academy officer positions; and much more. (August 28, 2014)

The Pension Committee sent a letter to the Internal Revenue Service and Treasury Department regarding guidance needed regarding the Highway and Transportation Funding Act of 2014.  (August 26, 2014)

The Asset Adequacy Analysis Committee released for exposure a practice note on current practices in asset adequacy analysis and testing.  Comments are due by Oct. 6. (August 21, 2014)

Representatives of the Actuarial Climate Volatility Index Subcommittee made a presentation to the NAIC’s Climate Change and Global Warming Working Group on the ongoing development of an Actuaries Climate Index and Actuaries Climate Risk Index. (August 17, 2014)