The Variable Annuity Reserves and Capital Work Group released the VM-21 Checklist. This checklist provides a comprehensive guide to VM-21, which specifies requirements for principle-based reserves for variable annuity contracts. 

The Life Underwriting and Risk Classification Work Group sent a follow-up letter to the NAIC Accelerated Underwriting (A) Working Group on Actuarial Standards of Practice that were referenced in their June 18 presentation. 

The ASOP No. 6 Practice Note Work Group released an exposure draft, ASOP No. 6 - Development of Age-Specific Retiree Health Cost Assumptions for Pooled Health Plans, Including Applications to Non-Pooled Health Plans, to provide information for actuaries valuing retiree health benefit plans. Comments on the exposure draft are due to the Academy by September 30, 2020, and can be sent to Health@actuary.org. 

The Pension Committee, Multiemployer Plans Committee, and Public Plans Committee submitted comments to the Actuarial Standards Board regarding the second exposure draft of Actuarial Standard of Practice No. 4, Measuring Pension Obligations and Determining Pension Costs or Contributions.

The Multiemployer Plans Committee published an issue brief about some of the considerations that go into the selection of actuarial assumptions for multiemployer plans.

The Lifetime Income Risk Joint Committee released a new issue brief, Actuarial Perspectives on Determining a Retirement Income Budget.

The Workers' Compensation Committee released an issue brief discussing the recent actions of state governments, due to the COVID-19 pandemic, to expand their presumption laws to include additional diseases/injuries experienced during employment, but also to whom the presumptions apply.

The Pension Practice Council published an issue brief detailing why the investment return assumption should be determined by the asset allocation, not the other way around.

The Risk Sharing Subcommittee filed comments with the Department of Health and Human Services and the Centers for Medicare and Medicaid Services on exposed Amendments to the HHS-Operated Risk Adjustment Data Validation Under the Patient Protection and Affordable Care Act’s HHS-Operated Risk Adjustment Program. 

The Health Practice Council and its Task Force to Review Actuarial Standard of Practice (ASOP) 11 filed a comment on the Actuarial Standards Board exposure draft, Reinsurance Involving Life Insurance, Annuities, or Health Benefit Plans in Financial Reports.

The Intersector Group released the notes of its May 2020 conference call with the Pension Benefit Guaranty Corporation.

The Casualty Practice Council commented on H.R. 7011, a proposal to facilitate expansion of Business Interruption insurance to include future pandemic events.

The Workers’ Compensation Committee released an issue brief, Presumptive Benefits in Workers’ Compensation: Emerging Issues Before and After COVID-19, which covers what workers’ compensation presumption of benefits means, how laws vary by state, what occupations are covered by presumptions, what injuries or diseases are classified as presumptive, who is eligible, how claims can be rebuttable by the employers, what are the cost elements of workers’ compensation presumptions, and other cost considerations.

The Life Underwriting and Risk Classification Work Group gave a presentation on actuarial perspectives on accelerated underwriting to the NAIC Accelerated Underwriting (A) Working Group. 

The Life Illustrations Work Group sent a comment letter to the NAIC Life Actuarial (A) Task Force regarding the illustrations of Indexed Universal Life (IUL) insurance policies under Actuarial Guideline 49 and the ACLI Redline of AG 49A. 

The Annuity Reserves Work Group gave an update to the NAIC VM-22 (A) Subgroup on the preliminary framework elements for fixed annuity PBR. 

The Committee on Property and Liability Financial Reporting has issued a set of questions and answers regarding the impact of the coronavirus pandemic on P/C financial reporting.(Note: This document has been superceded by a second edition, published in January 2021.)

The Academy published an issue brief examining the potential impact of the SECURE Act on retirement security, which was developed by Senior Pension Fellow Linda K. Stone in conjunction with the chairperson and members of the Retirement System Assessment and Policy Committee and the co-chairpersons of the Lifetime Income Risk Joint Committee.

Individual and Small Group Markets Committee issue brief outlining the major factors driving premium changes for the next plan year.  This year’s issue brief focuses primarily on the impact of COVID-19 on the 2021 premium rate filings.

The Cyber Risk Task Force sent comments to the Government Accountability Office regarding cyber-attacks and the Terrorism Risk Insurance Act.