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MEMBERSHIP
New Volunteer Initiatives for 2025
As the new year begins, the Academy will be unveiling several initiatives focused on strengthening the volunteer program. Volunteers were recently invited to participate in one of two feedback surveys designed to gather feedback and insights. Those who served in a volunteer leadership position at any time in 2024 were sent the Volunteer Leadership Feedback Survey, while all other volunteers received the Volunteer Feedback Survey—both are open through Friday, Jan. 24.
Insights collected by the survey will provide the Academy with information to assist with:
Gauging volunteer satisfaction and enhancing overall volunteer programs;
Improving inclusion, onboarding, training, and succession planning;
Enhancing support for recruiting and mentoring new volunteers; and
Assessing staff support to identify opportunities to strengthen collaboration.
The Academy will also host a virtual training later this month for volunteers on new technologies to improve communications among committees. If you are an Academy volunteer, look for an invitation to come next week. For more information, please contact Volunteer and Member Engagement Manager Anthony Washington at volunteer@actuary.org, or 202-223-8196.
OUTREACH & NEWS
Contingencies Looks Ahead to 2025
The January/February Contingencies leads with a look at what’s ahead for the actuarial profession and the Academy in 2025. Also, a feature on how technological innovation has thrown up new hurdles to the regulatory process, a piece on how optimizing resources or enhancing processes can help maximize value in health care costs; views from actuarial affinity groups representing the diversity of the profession; and Darrell Knapp’s first President’s Message on the value of Academy membership.
ICYMI—Actuarial Update and Life Perspectives
The December Actuarial Update highlights several Academy events coming this year, including an “Insuring the Future: Insurance Investment Summit” set for May in New York City, and “Hill visits” in all practice areas with federal policymakers in April in Washington, D.C.
The Winter Life Perspectives also previews the Insurance Investment Summit, and the Life Practice Council’s plans to participate in Academy “Hill visits” in April. Also in the issue, December’s PBR Bootcamp webinar on VM-31, and recent legislative and regulatory activity.
Christian Benjaminson Named to ERISA Advisory Council
Academy volunteer and past Multiemployer Plans Committee Chairperson Christian Benjaminson was named to the U.S. Department of Labor’s ERISA Advisory Council, which provides advice on policies and regulations affecting employee benefit plans governed by the Employee Retirement Income Security Act of 1974 (ERISA). Benjaminson is a vice president and principal consulting actuary at Cheiron Inc., primarily advising multiemployer plans in the trucking, manufacturing, construction, communications, and grocery industries. His appointment follows outgoing council member Tonya Manning, also a longtime Academy retirement volunteer. Benjaminson discussed multiemployer issues in a November 2021 episode of the Academy’s podcast, Actuary Voices.
Social Security Chief Actuary Stephen Goss Retires, Capping 51 Years of Distinguished Public Service
Goss at the Envision Tomorrow Social Security session
Stephen Goss, chief actuary of the Social Security Administration (SSA) and the 2013 recipient of the Academy’s Robert J. Myers Public Service Award, is retiring today, Jan. 3. “We wish our chief actuary, Stephen Goss, all the best in his retirement after 51 years of outstanding public service,” Acting SSA Commissioner Carolyn Colvin posted on X. Goss has been an active volunteer with the Academy’s Social Security Committee, and was most recently a featured speaker at October’s Envision Tomorrow retirement session on Social Security, which aired nationally on C-SPAN.
Senior Casualty Fellow Rich Gibson discussed the wide impacts of insurance fraud, including on vulnerable populations, in an InsuranceNewsNet article.
PUBLIC POLICY
COPLFR Releases P/C Practice Note
The Committee on Property and Liability Financial Reporting (COPLFR) released its annual practice note on statements of actuarial opinion (SAOs) on property and casualty loss reserves. The practice note describes practices commonly employed by actuaries working on SAOs on loss and loss expense reserves in accordance with the NAIC’s Property and Casualty Annual Statement Instructions. Practice notes are now available via Academy Learning.
Webinar next week—The Academy will hold a Jan. 8 webinar, COPLFR 2024 Opinion Season, to look at key issues within the practice note, moderated by Academy Member-Selected Director and COPLFR Chairperson Stephen Koca. Register now.
Public Policy in Brief
The Life Valuation Committee’s 2024 update of the 2017 Asset Adequacy Analysis practice note provides assistance to actuaries who are faced with the requirement of asset adequacy analysis by providing examples of common approaches.
The Academy’s title insurance research project was noted in a featured article on title insurance consumer protections by U.S. Department of the Treasury Deputy Assistant Secretary for Financial Institutions Policy Jeanette Quick.
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