*Member login required to access slide presentations. Media or nonmember attendees of the Annual Meeting should contact the Academy at 202-223-8196 to request access. Only Retirement for the AGES slides are open to media.

Casualty

beginning from podium: D. Andrew Neal, Shawna Ackerman, Karen Clark, Sonja Larkin-Thorne

Natural Disasters, From Global to Local Panelists representing government, consumer, and actuarial perspectives delve into the potential for actuarial practices to predict natural catastrophes and reduce risks to consumers, businesses, government, and insurers.

left to right: Dee Dee Mays, Arthur Schwartz, Lawrence Mirel

Price Optimization/Disparate Impact This is a new and evolving area of actuarial practice with no single definition or widely accepted actuarial method. Panelists examine models and hypotheticals, as well as the ethical implications of price optimization and disparate impact portend for actuarial rate setting.

Life

Panelists John Bruins (left) and Tomasz Serbinowski

Is Nonforfeiture Ready for a Change? Issues and Concerns The NAIC’s 1942 Standard Nonforfeiture Law for Life Insurance has remained largely unchanged since being created, but some are now calling for its modernization. This presentation provides perspectives on Academy regulatory, consumer, and industry ideas regarding the feasibility of a new nonforfeiture law for life insurance and annuities.

Panelists Scott Robinson (center), Jeffrey Schlinsog (left), Randall Stevenson

The Other Side of PBR: Reviewing Results What will the world look like after insurers start using principle-based reserving (PBR)? Panel experts explore insights into possible answers to the question: In a post-state implementation/enactment principle-based reserving world, how will the review process work for regulators, auditors, and rating agencies?

Pension

beginning from podium: Rowland Davis, Don Fuerst, Eric Keener, Hank Kim

Retirement For The AGES This presentation focuses on an innovative framework unveiled in 2014 by the Academy’s Pension Practice Council to illustrate the strengths and shortcomings of retirement systems and proposals to reform them. The framework is based on four principles (Alignment, Governance, Efficiency, and Sustainability) to be used for evaluating retirement plans and systems (both private and public) and retirement-income public policy proposals.

Panelists beginning from podium: Jean-Pierre Aubry, Eli Greenblum, Randy DeFrehn, Christopher Bone

Multiemployer Plan Reform Learn how circumstances over the past 15 years have created unfunded benefit obligations in multiemployer plans that jeopardize both participant benefit security and the competitiveness of the contributing employers. New reports indicate that the Pension Benefit Guaranty Corporation’s inability to handle looming insolvencies necessitates legislative action. The discussion includes current legislative initiatives that attempt to address these deeply troubled plans and foster innovative approaches that could strengthen the multiemployer system and prevent future crises.

Panelists beginning from podium: Frank Todisco, Bill Hallmark, Stephen Gauthier, Matthew Smith, Melissa Moye

Public-Sector Pension Plans Plenary The funded status of state and local government-sponsored pension plans is a major concern for the millions of public-sector workers, retirees, and family members who are beneficiaries of those plans, as well as the current and future taxpayers who share in the financial burden of providing those benefits. This presentation explores what is being done in Washington and across the country to address this state and local challenge that has been in the national spotlight with a focus on what makes a public pension plan sustainable or unsustainable and what the actuarial profession can do to provide more reliable information to the public.