Academy Senior Pension Fellow Frank Todisco discussed how to protect against risks that could face retirees. Todisco said that "longevity insurance," which protects against the risk of outliving assets in retirement, can be obtained affordably by deferring the start of collecting Social Security benefits.

The Academy's Life Practice Council's Dec. 14 webcast on principle-based approach updates from the December 2009 National Association of Insurance Commissioners meeting was recapped along with comments made by panelists.

Steve Schoonveld, a member of a joint Academy and Society of Actuaries work group, said adverse selection issues with the Community Living Assistance Services and Supports Act (CLASS Act) will cause premiums to be exceptionally high.

Academy Senior Life Fellow Nancy Bennett wrote that actuarial principles should be an essential element for a new systemic risk regulatory framework. Bennett expanded upon this concept and provided an overview of the Academy's white paper, "Concepts for Successful Regulation of Systemic Risk."

Actuaries landed at the top spot of a newly released study ranking the 200 best and worst jobs in the U.S. The study was commissioned by CareerCast.com and the rankings were compiled by Les Krantz, author of "Jobs Rated Almanac."

The Academy was cited in an op-ed by Rep. Joe Courtney. The Academy noted that an excise tax on employer-sponsored health care coverage would more accurately target overly generous plans if it were based on plan benefits rather than a premium dollar threshold, because premiums are also based on other factors such as geography and age.

The Academy's Dec. 13 news release, which emphasized the importance of meaningful and consistent disclosures by public pension plans, was discussed. Academy President Mary Frances Miller and Academy President-elect Dave Sandberg were quoted from the news release. 

An Academy letter to congressional leaders on health care reform was cited in an op-ed. Regarding the Community Living Assistance Services and Supports (CLASS) Act, the Academy said that given the way the program is structured, "severe adverse selection would result in high premiums that are likely to be unaffordable for much of the intended population."