The Spring Life Perspectives covers a new principle-based reserve (PBR) public policy practice note. Also in the issue, a life task force commented on an exposure draft of Actuarial Standard of Practice (ASOP) No. 11, the NAIC released PBR guidance, Academy life groups commented to NAIC, and recent state and federal life-practice legislative and regulatory activity. (April 24, 2020)
The Life Practice Council sent a 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)
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 17, 2020)
The Life Valuation Committee's Principle-Based Reserve (PBR) Review Procedures Work Group released a public policy practice note, Common Practices of Examining Actuaries Involved in Statutory Financial Solvency Examinations of Life and Health Insurers, Including Considerations for Principle-Based Reserves. (April 17, 2020)
The Spring HealthCheck—the first edition of the 10-year-old publication as a quarterly—covers the Academy’s new webpage of coronavirus pandemic resources, as well the recently published “FAQs on COVID-19 and Its Effects on Health Spending and Health Insurance,” both of which are being continually updated. Also in the issue, Academy health volunteers visited federal lawmakers and policymakers in their annual “Hill visits” in late February; an early look at the Academy’s Annual Meeting and Public Policy Forum; and legislative and regulatory updates, including recently passed laws related to the ongoing pandemic. (April 15, 2020)
In light of the coronavirus pandemic, the Academy has extended the comment period for the exposure draft of the Actuarial Memorandum Practice Note until June 15. Comments had previously been due in March. The Actuarial Memorandum Practice Note Work Group published the exposure draft in January to provide information that can be useful for appointed actuaries dealing with challenges of producing an Actuarial Memorandum in support of the Actuarial Opinion filed as part of the Health Annual Statement Blank, which is often referred to as the Health Blank or the Orange Blank. Comments can be submitted to health@actuary.org. (April 15, 2020)
The Academy has released the 2019 edition of The Record. The Record is the Academy’s annual report to the membership and the public, recapping the work of Academy volunteers over the past year in serving the public and the profession. From Past President Shawna Ackerman’s opening letter to professionalism and public policy activities, from volunteering and communications to international undertakings, The Record illustrates what a productive year 2019 was for the Academy. (April 15, 2020)
The Multiemployer Plans Committee released an issue brief that addresses current practices and approaches to the selection of withdrawal liability interest rates. (April 13, 2020)
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 10, 2020)
The Academy’s Retirement System Assessment and Policy Committee published an issue brief that considers potential ways to optimize portability and personal management of retirement assets, income, and benefits. (April 10, 2020)
The American Academy of Actuaries is continuing to provide objective and independent analysis to all those with whom we work at the local, national, and international level. The Academy’s Health Practice Council has also developed answers to some frequently asked questions (FAQs) to share insights on COVID-19’s potential effects on health care spending and the private health insurance system and on the Medicaid program and Medicaid managed care organizations. We also developed a page with links to many COVID-19 information resources. Members of the Academy may also use this form to suggest additions to the resources page, our FAQs, potential COVID-19-related webinar topics, or other issues we might want to investigate. (April 07, 2020)
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 03, 2020)
The Life Principle-Based Approach Practice Note Work Group updated the 2017 VM-20 Practice Note to reflect emerging practices and changes to the Valuation Manual since the version effective for Dec. 31, 2019, valuations. (April 03, 2020)
Clear actuarial communication—especially in a time of a pandemic crisis when most people are working remotely—is about much more than the numbers, as spelled out in both Actuarial Standard of Practice No. 41, Actuarial Communications, and Precept 4 of the Code of Professional Conduct. (Actuarial Update, March 2020) (March 31, 2020)
In the March Actuarial Update, Academy President D. Joeff Williams offers a message to members on the Academy’s continuing (remote) operations in light of the coronavirus pandemic. Related, the Academy has developed a webpage of related resources and FAQs covering COVID-19 and its possible effects on health spending and insurance. Also in the issue, the Academy remembers Past President Barbara Lautzenheiser and longtime member and World War II “Buffalo Soldier” Ivan Houston; the Annual Meeting and Public Policy Forum, scheduled for November, will feature keynote speakers historian Michael Beschloss and political analyst Charlie Cook; a new “Actuary Voices” conversation with Academy Secretary-Treasurer Cathy Murphy-Barron; meet President-Elect Tom Campbell in the new “Member Spotlight” section; and the “Professionalism Counts” column looks at the importance of actuarial communication. (March 31, 2020)
