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Recent Academy Activity, Jan. 13–17, 2014

Announcements

  • The Academy presented a Capitol Hill briefing today on Retirement for the AGES, an initiative whose main objective is to facilitate retirement security for all Americans. Developed by the Academy Pension Practice Council’s Forward Thinking Task Force, the Retirement for the AGES monograph sets forth principles that can be used to help create well-functioning retirement plans that benefit workers, employers, retirees and society as a whole.

Alerts

  • Biggert-Waters Premium Increase Delay: The Academy alerted its members that the U.S. House of Representatives passed a $1.1 trillion omnibus appropriations bill (H.R. 3547) delaying for one year Biggert Waters’ flood insurance premium increases. The Senate subsequently passed the legislation. Log in and scroll to “Casualty Alerts” to read the full alert.
  • Renewal Form for EAs: The Joint Board for the Enrollment of Actuaries has posted on the IRS website the form for Enrolled Actuaries (EAs) seeking to apply for renewal of enrollment for the 2014-2017 enrollment cycle. As with the 2011 renewals, EAs will not receive the application for renewal form by mail or by email. Log in and scroll to “Pension Alerts” to read the full alert.

Academy in the News

  • Academy Senior Health Fellow Cori Uccello provided perspective on new Affordable Care Act (ACA) enrollment data for the Washington Post, The Hill, Kaiser Health News, and other outlets. 
  • The Academy Health Practice Council’s fact sheet examining the three risk-sharing mechanisms included in the ACA was cited in a Hartford Courant article.
  • Academy Senior Pension Fellow Donald Fuerst was quoted in a report on teacher pensions published in the New London, Conn., newspaper, The Day.
  • A Forbes column on proposed ACA amendments mentioned the Academy.   

Public Policy Activities

  • The Life Practice Council submitted comments on the proposed “actuarial standard” in the report of Rector & Associates to the National Association of Insurance Commissioners’ (NAIC) Principle-Based Reserving Implementation (EX) Task Force.
  • The Separate Account Products Work Group commented on the Potential Actions/Recommendations (Document 2) exposed for comment in November by the NAIC Separate Account Risk (E) Working Group.
  • The Financial Reporting Committee sent comments to the Financial Accounting Standards Board and International Accounting Standards Board regarding their joint project on classification and measurement of financial instruments.
  • The Solvency Committee submitted comments to the International Actuarial Association on the International Association of Insurance Supervisors’ proposal, Basic Capital Requirements for Global Systemically Important Insurers (G-SIIs).

Opportunities to Learn

  • An update on the NAIC Fall 2013 National Meeting will be the topic of the Academy’s Jan. 24 “Post-NAIC/PBA Webinar.” The webinar will provide a rundown of the most recent Life Actuarial Task Force (LATF) meeting, a discussion of activities at the Life Risk-Based Capital Working Group meeting, and a review of activity on captives and special purpose vehicles as they relate to NAIC model regulations XXX and AXXX. Register online.
  • The International Congress of Actuaries’ (ICA) 2014 regular registration ends Jan. 31. Earn up to 27 hours of continuing education credits while taking in topical sessions with the most current research, regulation updates, and practical case studies from the U.S. and around the world. With hundreds of sessions and networking events to choose from, attendees can customize their ICA experience to fit their own professional needs. See what’s relevant for U.S. actuaries, and register today.
  • Save the date for next month’s “Academy Capitol Forum: Meet the Experts” webinar, which will address “Systemic Risk Monitoring at the OFR.” The webinar will take place Feb. 21 from noon to 1:00 p.m. ET. Also save the date for March’s webinar, “Actuary Serving Congress: A Conversation with GAO's Chief Actuary,” on March 20 from noon to 1:00 p.m. ET.

Note: Some links in this email go to external websites and may require registration. The Academy is not responsible for the content of these websites. Links may expire.