The Public Plans Committee published a practice note reviewing current and emerging approaches to completion of the Actuarial section of the Comprehensive Annual Financial Report. (March 31, 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. (March 27, 2020)
The Financial Reporting Committee submitted comments to the American Institute of Certified Public Accountants (AICPA) regarding draft revisions to the Audit and Accounting Guide: Life and Health Insurance Entities. (March 25, 2020)
I’m sure that all of you are aware of and concerned about the consequences of this extraordinary period of uncertainty as a result of COVID-19. I want you to know that 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, as you will see in our new webpage on COVID-19 information resources, described more below. As many people shift to virtual or remote platforms, the Academy’s staff and volunteers are also doing so while continuing to work together as we always have done to remain available to our members and other stakeholders. We will do our best to continue to disseminate relevant and useful information to you—not just on COVID-19, but on all of our public policy and professionalism work.
I also want to remind you that, with the announcements we have all seen of the necessary cancellation of many larger in-person events, live webinars that include the opportunity for Q&As are an excellent source for obtaining the “organized activity” continuing education (CE) credit that you may need this year. Academy webinars continue to be a viable source for CE. Academy webinars are also archived and available without charge to members after the live event and provide another opportunity, if you are working remotely, to gain CE that meets the requirements of the U.S. Qualification Standards under the “other activities” category. (March 24, 2020)
The Multiemployer Plans Committee submitted a letter to the Internal Revenue Service requesting leniency on the March 30th deadline for multiemployer pension plan certifications. (March 24, 2020)
The Health Practice Council developed answers to several FAQs discussing the pandemic’s potential effects on health care spending and insurance as insurers develop premiums for 2021. Read the news release. (March 24, 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. (March 20, 2020)
The Spring Casualty Quarterly covers the new Actuaries Climate Risk Index, released in January, and includes an interview with Steve Jackson, the Academy’s assistant director for research (public policy), about several of the index’s key findings. Also in the issue, the Actuaries Climate Index’s five-year moving average reached a new high for the sixth consecutive quarter; Academy P/C representatives met with federal officials on key issues; and recent state and federal legislative and regulatory activity. (March 19, 2020)
The Health Solvency Subcommittee submitted a response letter to the NAIC Health Risk-Based Capital (HRBC) Working Group for its request to provide the health bond factors over a range of additional time horizons—spanning one to five years. (March 18, 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. (March 13, 2020)
The Committee on Property and Liability Financial Reporting submitted comments on the CAS/SOA proposed new form for P/C Appointed Actuaries to report their continuing education activities. (March 11, 2020)
The Pension Committee submitted a comment letter to the Internal Revenue Service on updated mortality improvement rates and static mortality tables for defined benefit pension plans for 2021. (March 10, 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. (March 06, 2020)
In the March/April issue of Contingencies, the cover story, “Crowdsourcing Medicine,” investigates what happens when more people—even those without medical training—lend a hand with diagnosis and other aspects of medicine. Other features include “To the Summit,” which looks at how mountaineering and actuarial science overlap; “Underwriting 2.0,” on how Big Data and other elements of data science can be used to help support risk assessment; and “Russell,” an original work fiction that considers an unlikely relationship set in the present ... and an uncertain future. Plus, D. Joeff Williams’s President’s Message on how the Academy builds on the past; all about actuarial assumptions in “Up to Code”; and a Job Seeker special: 20 commandments any applicant should consider. (March 02, 2020)
As it did five years ago, the United States Department of Labor (DOL) has asked for the Academy’s help to update the DOL’s database of occupational requirements to be an actuary. The DOL is looking for Academy members currently living and working as actuary in the United States with five or more years’ experience to participate in providing information that will be used to identify the description of “actuary” for the O*NET Data Collection Program. Read more. (March 04, 2020)
