The C1 Work Group submitted a presentation to NAIC’s Risk-Based Capital Investment Risk and Evaluation (E) Working Group on collateralized loan obligations.

The Life Practice Council (LPC) and Life Experience Committee (LEC) submitted a presentation to NAIC’s Life Actuarial (A) Task Force’s Subgroup on current LPC workstreams as well as two issue briefs recently published by the LEC.

The Multiemployer Plans Committee submitted comments to the Pension Benefit Guaranty Corporation (PBGC) on its proposed rule about interest rate assumptions regarding a withdrawing employer's liability under a multiemployer plan.

Health Solvency Subcommittee Chairperson Derek Skoog provided an update to the NAIC’s Health Risk-Based Capital (E) Working Group at the NAIC’s Fall 2022 National Meeting in Tampa, FL, on the H2—underwriting risk component and the managed care credit calculation in the health risk-based capital formula.

The Academy’s Economic Scenario Generator Work Group submitted a presentation to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force Subgroup on Economic Scenario Generator (ESG) Corporate Credit and Bond Fund Returns.

The Pension Committee published a practice note, Measuring Pension Obligations for Difficult-to-Value Plan Provisions, providing information to actuaries on current or emerging practices regarding defined benefit pension plan provisions that may be difficult to adequately measure using traditional valuation procedures.

The Pension Committee and Retirement Policy and Design Evaluation Committee submitted a letter to congressional leadership commenting on provisions included in the Securing a Strong Retirement Act of 2022 (SECURE 2.0), the EARN Act, and the RISE & SHINE Act.

Academy Health Practice Council (HPC) Vice President, Barb Klever, provided an update on HPC activities to the National Association of Insurance Commissioners (NAIC) Health Actuarial (B) Task Force during their virtual meeting in lieu of the 2022 Fall National Meeting.

The Academy’s Life Experience Committee released a discussion brief on the use of margins in life insurance modeling.

The Academy’s Life Experience Committee released a discussion brief on credibility in life insurance modeling.

Presentation at the National Association of Insurance Commissioners (NAIC) Affordable Care Act (ACA) State Rate Review Discussion Meeting on Considerations for Calculating Cost-Sharing Reduction (CSR) Premium Load Factors.

Casualty Practice Council (CPC) Outgoing Vice President, Lauren Cavanaugh and Committee on Property and Liability Financial Reporting (COPLFR) Chairperson Derek Freihaut presented to the NAIC’s Casualty Actuarial and Statistical (C) Task Force (CASTF) on behalf of the CPC and COPLFR on recent publications and future work products expected for release in early 2023.

The Committee on Property and Liability Financial Reporting (COPLFR) released the update to the Risk Transfer Practice Note (last updated in 2007). The Risk Transfer Practice Note includes definitions and relationships between regulatory treatments of risk transfer, e.g., U.S. statutory, U.S. GAAP, IFRS 4 and IFRS 17, and Solvency II; the process for determination of risk transfer; current techniques used in practice for determining risk transfer; and risk transfer documentation. 

The Academy’s Life Illustrations Work Group submitted comments to the National Association of Insurance Commissioners’ Indexed Universal Life (IUL) Illustration (A) Subgroup on the Oct.13 exposure of Actuarial Guideline 49-A Quick Fix Proposals.

The Academy’s Index-Linked Variable Annuity Work Group submitted a comment letter and corresponding redline to the National Association of Insurance Commissioners’ Index-Linked Variable Annuity (A) Subgroup on the Oct. 13 exposure of proposed Actuarial Guideline ILVA.

Comment letter from the Casualty Practice Council, submitted to the Actuarial Standards Board (ASB) on the exposure draft of ASOP 41, Actuarial Communications.

The Academy’s C-2 Mortality Work Group submitted to the Life Risk-Based Capital (E) Working Group for its consideration for adoption a proposed supplement to the instructions for the National Association of Insurance Commissioners’ newly adopted C-2 Mortality Factors to address implementation and application questions. 

Members of the Pension, Multiemployer, and Public Plans Committees published a discussion brief intended to familiarize actuaries with commonly used approaches and considerations when dealing with augmented mortality assumptions.

The Academy’s Annuity Reserves and Capital Work Group, Variable Annuity Reserves and Capital Work Group, and Life Reserves Work Group submitted a comment letter to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force on APF 2022-04 Swap Spreads and the transition from LIBOR to SOFR.

The Academy’s Life Experience Committee released a discussion brief on the impacts of inflation, interest rates, stock market volatility, and potential recession on life insurance business.