Academy Regular Director Elections Are Open

• What are the most important issues facing the Academy? Read how the candidates for three regular director positions on the Academy board of directors responded to this question, and learn about the candidates and the voting process, on the Academy Board Election Center. Voting for the three regular director positions opened to Academy members on Monday, Aug. 25. Please check your email for a message sent on Aug. 25 from electionadmin@intelliscaninc.net for your online ballot. If you do not have an email address to receive Academy communications, you will receive your ballot by regular mail. If you can’t find your ballot and would like to vote online, visit the website of Intelliscan, the Academy’s election vendor. Balloting will be open until Sept. 15.

Annual Meeting and Public Policy Forum

• Earn up to 12.2 organized activity continuing education (CE) credits, depending upon your area of practice, including 1.5 professionalism CE credits, by attending the American Academy of Actuaries Annual Meeting and Public Policy Forum in Washington, Nov. 13–14. Speakers include Sen. Ben Nelson, CEO of the National Association of Insurance Commissioners (NAIC), regulatory and financial services Super Lawyer Steven Salky, and political satirist Mark Russell. Public policy and professionalism content relevant to all actuarial areas of practice, as well as practice-specific content in breakout sessions on topical casualty, health, life, and pension practice issues, will be offered. Learn more and register now.

Submit Comments on Academy’s Proposed USQS Attestation Form

• The Academy wants your feedback on its draft “U.S. Qualification Standards Attestation,” a proposed form for actuaries to demonstrate how they meet the USQS requirements for signing NAIC annual life, health, and property & casualty statements of actuarial opinion. Download the draft and submit your comments through the Academy website.

More Opportunities to Learn and Earn CE Credit

• Registration is now open for the Academy’s 2014 Seminar on P/C Effective Loss Reserve Opinions: Tools for the Appointed Actuary, Dec. 2–3 at the Westin Baltimore Washington Airport. Actuaries who prepare or sign of NAIC annual statements of actuarial opinion on P/C loss reserves, or those who assist in preparing them are urged to register. Attendees will earn valuable CE credit. Learn more and register now.
• Do you wish to sign the NAIC annual statements of actuarial opinion, but haven’t met the basic education requirements set forth in Section 3.1.1 of the USQS? Obtain the required minimum basic and continuing education at the 2014 Life and Health Qualifications Seminar, which will take place Nov. 10–13 in Arlington, Va. Learn more and register now.

Public Policy Activities

• The Pension Committee sent a letter to the Internal Revenue Service and Treasury Department urging the agencies to issue guidance regarding the implementation of pension provisions included in the Highway and Transportation Funding Act of 2014.
• The Public Plans Subcommittee sent a comment letter to the Governmental Accounting Standards Board (GASB) regarding accounting and financial reporting for pension plans that are not administered through trusts that meet specified criteria, and amendments to certain provisions of GASB Statements 67 and 68.

News from the Actuarial Board for Counseling and Discipline (ABCD)

• The ABCD has published a visual timeline to aid understanding of the investigation process that is initiated when a complaint about a credentialed actuary is filed. The timeline can be viewed and downloaded on the ABCD home page.

Recent Events

• The Academy Life Practice Council provided direction on life principle-based reserve implementation at the joint Academy/SOA seminar, “Implementing VM-20: A Practical Approach.” The day-long seminar featured different sessions, ranging from how to perform basic VM-20 calculations to understanding more complex VM-20 requirements.

Newly Released

• August Actuarial Update: This issue contains a spotlight on the 442 new members who joined the Academy during the first six months of 2014, a description of Academy’s activities at the NAIC Summer 2014 National Meeting, and more.

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