In the February Actuarial Update, the Academy announced that members may begin nominating their colleagues to become Academy regular directors. Nominations are due May 1.

It’s time to share your recommendations for Academy regular directors, who are elected to the Academy Board of Directors by Academy membership in an online election from a slate of candidates presented by the Academy’s Nominating Committee. The committee will meet in the coming weeks to identify new candidates for regular directors in accordance with the criteria provided in the Nominating Committee Guidelines.

The Medicaid and Long-Term Care Insurance Work Group of the American Academy of Actuaries has released a new issue brief, Medicaid and Long-Term Care Insurance. This issue brief explores the potential financial risks faced by older Americans who may incur catastrophic long-term care (LTC) costs.

The Pension Practice Council published a practice note providing information on current and emerging practices in the selection of investment return assumptions based on anticipated future experience. 

The Medicaid and Long-Term Care Insurance Work Group published an issue brief exploring the potential for catastrophic long-term care costs as a major financial risk especially facing older Americans and to help clarify the options currently available for dealing with it.

The Pension Committee published a practice note discussing the valuation of lump sum benefits for financial accounting purposes. 

The Lifetime Income Risk Joint Committee, Retirement System Assessment and Policy Committee and Social Security Committee submitted a comment letter to the Bipartisan Policy Center on its 2016 Report of the Commission on Retirement Security and Personal Savings.

The Life Experience Committee sent a comment letter to the Life Actuarial (A) Task Force to address questions that were raised during the NAIC Fall 2018 National Meeting regarding the current process used to develop the AG38 and VM-20 annual mortality improvement scale recommendations. 

The Life Reserves Work Group submitted a comment letter to the Life Actuarial (A) Task Force regarding exposed APF 2019-04, which seeks to provide clarification for expense allowance formulas for universal life with secondary guarantee (ULSG).