The Academy Is Bringing the Annual Meeting and Public Policy Forum to You
The “foremost actuarial meeting on public policy” is coming to you. After much discussion, the Academy has decided it is in the best interests of our attendees to offer our 2020 Annual Meeting and Public Policy Forum as a virtual event. We are confident, as we commit to providing our virtual meeting, that you will have an engaging online experience that delivers the highest-quality content in a format that’s safe, efficient, and easy for your participation—and now, exceptionally cost-effective. We’ve lowered registration fees by 50% off the original published rates for this year’s meeting. Group registration is also available.
Our virtual event—to be held Nov. 5–6—will feature keynotes from Charlie Cook of the Cook Political Report and Michael Beschloss, noted presidential historian and author; practice-specific breakout sessions that offer depth and expertise not easily found elsewhere; plenary sessions that provide perspective on cross-practice issues and insights on top public policy and professionalism issues—and a chance to earn valuable continuing education (CE) credit, including professionalism CE credit. Plus, you’ll have the opportunity to virtually celebrate this year’s recipients of the Academy’s 2020 service and volunteerism awards and the transition of Academy presidential leadership.
It’s never been easier to attend—join us in November and register today.
Online Election for Regular Directors Underway
Online voting begins today, Aug. 21, for regular director positions on the Academy’s Board for terms to begin in November. Academy members should have received an Aug. 7 email from our election vendor, Intelliscan (email@example.com); those without an email address will receive ballots by regular mail.
The nominees are:
Margaret Berger, former vice chairperson of the Pension Practice Council (PPC) and a longtime volunteer on several PPC committees and a former member of the Actuarial Standards Board’s (ASB) Pension Committee;
Chris Carlson, former ASB member and ASB liaison for many Academy public policy committees, a long-time member of the Casualty Practice Council—and a former special director of the Board;
Jason Russell, vice chairperson of the Pension Practice Council and former chairperson of the Multiemployer Plans Committee; and
Pete Weber, a member of the Life Practice Council as well as several work groups focused on principle-based reserving (PBR), and a life actuary at the Ohio Department of Insurance.
Online voting will run through Friday, Sept. 4, at 11:59 p.m. EDT. If you need help with or have questions about your ballot, send an email to Keith Weir (firstname.lastname@example.org). We encourage members to take part in electing the newest leaders of the Academy who will help us fulfill our mission to serve the public and the U.S. actuarial profession. Visit the Academy’s Board Election Center for more information.
Professionalism Webinar—‘In Times of Uncertainty, Professionalism Is Certain’
More than 2,000 people attended the Academy’s professionalism webinar on Thursday, “In Times of Uncertainty, Professionalism is Certain.” Presenters—Academy past presidents Shawna Ackerman, Bob Beuerlein, Tom Terry, and Tom Wildsmith, and President-Elect nominee Maryellen Coggins—discussed the Code of Professional Conduct through the lens of the current uncertainty surrounding the COVID-19 pandemic and the resulting global economic slowdown. Academy President D. Joeff Williams moderated.
Terry noted this is not the first time that the actuarial profession has faced a national crisis—the last iteration of the Code was adopted after the “dot-com” bubble burst in the early 2000s. Other moments of great uncertainty were precipitated by 9/11, and later the Great Recession. “Our professionalism infrastructure was exactly built for times like this,” he said. “People can look to actuaries for a degree of certainty in the face of all the uncertainty we’ve been talking about. … It’s the professionalism structure that we have built in the United States that we can be proud of and tap these days.”
The Academy hosted a second webinar on Thursday, “Pension Practice Note on ASOP No. 51: Risk Assessment in Practice.” Presenters—Paul Angelo, a member of the Public Plans Committee; Tammy Dixon; and Julie Ferguson; with Pension Committee member Grace Lattyak moderating—shared perspectives from corporate, public, and multiemployer plans. The pension practice note offers information on current or emerging practices in which actuaries are engaged that the authors have observed may be affected by ASOP No. 51, Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions.
Have a group of Academy members from your organization who are interested in attending September’s Virtual PBR Boot Camp? Take advantage of our discounted group rates and register your group to join us in November. You’ll receive one free registration for each six Academy members you register and two free registrations when you register 12. Your participants will benefit from the depth of experience of the presenters for this highly regarded seminar and will have the opportunity to earn valuable CE credit, all in a convenient format. The seminar will be held Sept. 14–17. Visit our website to learn more about this event, including how to register your group.
Early Registration Deadline Today for Virtual CLRS
The early registration deadline for the Virtual Casualty Loss Reserve Seminar (CLRS) is today, Aug. 21. The virtual event will have opportunities for education, networking, and meeting with exhibitors. Co-sponsored by the Academy and the Casualty Actuarial Society, the Virtual CLRS will be held Sept. 15–17. Register today.
Diversity and Inclusion
The International Association of Black Actuaries has published a comprehensive series of recommendations for employers on hiring and retaining black actuaries. It provides recommendations on sourcing, recruiting and hiring, and workplace culture, as well as compensation and development. “Recommendations for Employers in North America to Increase the Number of Successful Black Actuaries” is available for download here.
The Spring/Summer ASB Boxscore covers revisions to Actuarial Standards of Practice (ASOPs) No. 27 and No. 35, which are effective for actuarial reports issued on or after Aug. 1, 2021, and when the measurement date in the actuarial report is on or after Aug. 1, 2021. It also covers the ASB’s recent revision of ASOP No. 32, Social Insurance, which underwent two exposure periods and received eight comments, and is effective for work commenced on or after Sept. 1, 2021.
The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA) issued an interim final rule, with request for comments, on Tuesday that, when applicable, will implement section 203 of the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. Read the Academy alert.
Public Policy Activity
Kevin Russel, chairperson of the Health Care Receivables Factors Work Group, presented to the NAIC’s Health Risk-Based Capital Working Group on the Exposure of Health Care Receivable Guidance.
Link Richardson, chairperson of the C3 Life and Annuities Work Group, provided a presentation to NAIC’s Life Risk-Based Capital Working Group on the Work Group’s progress on an update to the current C-3 Phase I or C-3 Phase II methodology to include indexed annuities.
“Capitol Forum: Exploring Health Equity in a Time of COVID-19 and Beyond,” Sept. 14, webinar (registration opening soon)