The Academy, through its public policy work, seeks to address pressing issues that require or would benefit by the sound application of actuarial principles. The Academy provides unbiased actuarial expertise and advice to public policy decision makers and stakeholders at the state, federal and international levels in all areas of actuarial qualifications. It also advocates on behalf of the profession and promotes the use of actuaries in non-traditional areas.
The Health Practice Council (HPC) provides objective technical expertise to policymakers and regulators on major health insurance and health care affordability issues, including Medicare.
The Retirement Practice Council (RPC) provides objective technical expertise to policymakers and regulators on major retirement policy issues, including Social Security and retirement plans.
The Casualty Practice Council (CPC) provides objective technical expertise to policymakers and regulators on major property/casualty issues, including medical professional liability and flood insurance.
The Life Practice Council (LPC) provides objective technical expertise to policymakers and regulators on life insurance issues, including a principle-based regulatory approach to reserving and risk-based capital.
The Risk Management and Financial Reporting Council (RMFRC) provides objective technical expertise to policymakers and regulators on issues involving risk management and/or financial reporting.
Request one of the Academy’s experienced and knowledgeable speakers who have volunteered to share their expertise on actuarial public policy.
The Retirement Policy and Design Evaluation Committee released a policy paper, Improving Retirement Outcomes: Demographic Considerations, which discusses retirement inequities and how current retirement plan design elements and policies may inadvertently disadvantage certain cohorts of individuals. In tandem with the paper, the committee released a high-level executive summary.
(June 27, 2024)Members of the Climate Change Joint Committee presented at the SOA Health Conference. The session explored various climate equity-related considerations for actuaries, including an introduction to the range of equity issues that climate change and the increasing frequency of climatic events may pose to actuaries.
(June 26, 2024)The Health Equity Committee presented at the 2024 SOA Health Meeting on “Improving Data Analysis Using a Health Equity Lens.” The session explored the intersection of health equity and data, including stakeholder perspectives and a Medicaid-focused case study.
(June 24, 2024)The Health Practice Council’s Active Benefits Committee and Individual and Small Group Markets Committee responded to the U.S. Senate Committee on Health, Education, Labor and Pensions’ (HELP) request for information regarding portable benefits for self-employed workers and other individuals in nontraditional working arrangements.
(June 24, 2024)The Prudential Regulation Committee submitted comments to the International Association of Insurance Supervisors (IAIS) on its public consultation on climate risk supervisory guidance – ICP guidance and supporting material.
(June 19, 2024)The actuarial organizations’ collaborative Intersector Group released notes of its April 2024 virtual meetings with the Pension Benefit Guaranty Corporation and Department of the Treasury and Internal Revenue Service.
(June 18, 2024)The Academy's C1 Subcommittee provided comments to the NAIC's Risk-Based Capital Investment Risk and Evaluation (E) Working Group on the exposed interim residual tranche proposal by Everlake Life Insurance Company.
(June 13, 2024)The Casualty Practice Council submitted comments on the exposure draft of Actuarial Standard of Practice (ASOP) No. 7, Analysis of Life, Health, or Property/Casualty Insurance Cash Flow Risk.
(May 31, 2024)The Prudential Regulation Committee sent a comment letter to the National Association of Insurance Commissioners (NAIC) Capital Adequacy (E) Task Force on the exposure draft of Risk-Based Capital Preamble, 2024-16-CA.
(May 31, 2024)The ERM/ORSA Committee submitted comments to the Actuarial Standards Board regarding the proposed revision of Actuarial Standard of Practice (ASOP) No. 7, Analysis of Life, Health, or Property/Casualty Insurance Cash Flow Risk.
(May 31, 2024)The Retirement Practice Council and Pension Committee responded to a request for information (RFI) by the majority staff of the U.S. Senate Health, Education, Labor, and Pensions (HELP) Committee regarding ways to bolster the defined benefit pension system.
(May 30, 2024)The Asset Adequacy and Reinsurance Issues Task Force provided comments to the Life Actuarial Task Force (LATF) regarding LATF's “AAT Reinsurance Exposure 031724”.
(May 17, 2024)The Social Security Committee released Highlights from the 2024 Social Security Trustees Report, a one-page illustration detailing the latest annual report on the current and projected financial status of the trust funds.
(May 09, 2024)The Life Experience Committee released a resource and discussion guide, Utilization Assumptions of Guaranteed Living Benefits for Deferred Annuities. The guide suggests some reasons why there may be a cohort that never utilizes its guaranteed living benefits (GLBs). It also provides sources of information on how to develop reasonable assumptions regarding GLB withdrawals.
(May 09, 2024)Academy Casualty Policy Analyst Rob Fischer, Senior Fellow Rich Gibson, and Will Davis of the South Carolina Department of Insurance presented at the Casualty Actuarial Society's Spring Meeting on current and future public policy considerations, covering how the current legislative and regulatory environment continues to evolve and respond to changes in actuarial practice and the broader insurance and financial environments. The presentation covered topics including the NAIC, homeowners insurance, AI governance, the National Flood Insurance Program, and bias.
(May 08, 2024)Comments, analysis, or explanatory material prepared for an external audience on behalf of an Academy group or the Academy as a whole; these include letters, memos, reports, and fact sheets.
Analyses of major actuarial or public policy issues written primarily for: policy-makers, regulators, the news media, and the public.
Include white papers and monographs which are longer, more detailed analyses of major actuarial or public policy issues written primarily for: policy-makers, regulators, the news media, and the public. Includes monographs and white papers.
Slides presented by the Academy at webinars, seminars, briefings, hearings, or other meetings and events.
The Academy works with the National Association of Insurance Commissioners (NAIC) on the creation and refinement of sensible, effective regulation. These reports and related documents highlight the NAIC-related work of Academy practice councils.
Written and oral testimony provided to Congress or to other governmental and quasigovernmental bodies.
The Academy has assembled materials to assist actuaries and regulators with implementation of PBR for life insurance.
This educational tool, developed by the American Academy of Actuaries and the Society of Actuaries, is designed to provide you with perspectives on your longevity.
In today’s aging society, the widespread assurance of lifetime income is the single most important step needed to improve the retirement security of older Americans. Learn more about the Academy's work on this issue.
Practice notes offer examples of current and emerging approaches to selected actuarial tasks. They are intended to supplement the available actuarial literature, especially where the practices addressed are subject to evolving technology, recently adopted external requirements, or advances in actuarial science and other applicable disciplines.