The Academy’s Annuity Reserves and Capital Work Group’s summary of the differences between the Academy fixed annuity principle-based reserving (PBR) framework proposal exposed by the National Association of Insurance Commissioners VM-22 Subgroup in October 2020 and the current framework for Valuation Manual (VM)-21 (variable annuity PBR).
( )The Variable Annuity Reserves and Capital Work Group’s proposed amendment submitted to the NAIC’s Life Actuarial Task Force (LATF) to update the reference to the required minimum distribution (RMD) age in the VM-21 Standard Projection Amount pursuant to enactment of the federal Setting Every Community Up for Retirement Enhancement (SECURE) Act.
( )The C1 Work Group's letter to the NAIC's Life Risk-Based Capital (LRBC) Working Group, including an update to previously proposed base bond factors and companion portfolio adjustment formula to reflect corporate tax rates enacted by the Tax Cuts and Jobs Act of 2017 for the LRBC formula.
( )The C1 Work Group's comments to the NAIC's Life Risk-Based Capital (LRBC) Working Group on the exposed January 21, 2021 proposal to restate the capital requirements for real estate in the LRBC formula.
( )Life Underwriting and Risk Classification Work Group Letter to NAIC (A) Committee
The Life Practice Council's Life Underwriting and Risk Classification Work Group letter to the NAIC Life Insurance and Annuities (A) Committee on state regulatory and legislative actions in regards to life insurance underwriting implications of COVID-19.
( )The Life Practice Council's Life Underwriting and Risk Classification Work Group letter to the NAIC Life Insurance and Annuities (A) Committee on state regulatory and legislative actions in regards to life insurance underwriting implications of COVID-19.
( )Mary Bahna-Nolan submitted a statement to the NAIC's Special (EX) Committee for Race and Insurance, Workstream #4.
( )The Life Practice Council’s Task Force to Review ASOP No. 22 comments to the Actuarial Standards Board on the exposure draft of ASOP No. 22, Statements of Actuarial Opinion Based on Asset Adequacy Analysis for Life Insurance, Annuity, or Health Insurance Reserves and Other Liabilities.
( )The Financial Reporting Committee and Life Financial Reporting Committee comments to the Financial Accounting Standards Board (FASB) regarding indexing and modco embedded derivatives.
( )Lifetime Income Risk Joint Committee comment letter to Department of Labor Employee Benefits Security Administration on an interim final regulation with request for comments regarding pension benefit statements and lifetime income illustrations.
( )The Life Practice Council's ASOP No. 2 Practice Note Task Force's comments to the Actuarial Standards Board on the proposed revision of Actuarial Standard of Practice (ASOP) No. 2, Nonguaranteed Elements for Life Insurance and Annuity Products (the "Second Exposure Draft").
( )Life Underwriting and Risk Classification Work Group follow-up letter to the NAIC Accelerated Underwriting (A) Working Group after June 18, 2020 presentation.
( )Life Illustrations Work Group comment letter to NAIC Life Actuarial (A) Task Force on the ACLI redline of AG 49A.
( )C-2 Longevity Risk Work Group (formerly Longevity Risk Task Force) comment letter to the NAIC Life Risk-Based Capital Working Group on the exposed alternative factors for longevity.
( )Tax Work Group comment letter to the Internal Revenue Service on proposed regulation on changes to the computation of life insurance reserves for income tax reporting.
( )Life Illustrations Work Group letter to NAIC Life Actuarial (A) Task Force on the "Independent Proposal".
( )Life Illustrations Work Group letter to NAIC IUL (A) Illustration Subgroup on American Council of Life Insurers (ACLI) proposal for AG 49-A
( )Life Practice Council comment letter to the Actuarial Standards Board on the proposed revision of Actuarial Standard of Practice (ASOP) No. 11, Reinsurance Involving Life Insurance, Annuities, or Health Benefit Plans in Financial Reports.
( )Life Reinsurance Work Group comment letter to the NAIC Reinsurance (E) Task Force on the model #787 exposure memorandum on whether Actuarial Guideline XLVIII (AG 48) should be considered to be "substantially similar" to Model #787 under the NAIC Financial Standards of Accreditation Program.
( )IWG comment letter to NAIC on Indexed Universal Life insurance policies under Actuarial Guideline XLIX (AG 49).
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