The Committee on Property and Liability Financial Reporting has issued a new public policy paper, An Overview for P/C Insurers' Audit Committees: Effective Use of Actuarial Loss Reserve Expertise. This document replaces an earlier publication on the same subject. 

C-2 Mortality Work Group presented an update to the NAIC's Life Risk-Based Capital (E) Working Group reviewing the C-2 overall approach and current risk-based capital (RBC) factors. 

The Committee on Property and Liability Financial Reporting has submitted comments to the NAIC's Actuarial Opinion Working Group, suggesting changes to the wording in the Financial Examiners Handbook.

The Long-Term Care (LTC) Valuation Work Group gave a presentation to the National Association of Insurance Commissioners’ (NAIC’s) LTC Actuarial (B) Working Group on the work group’s progress on the NAIC’s requests that the work group develop a replacement mortality table for LTC active life reserves, develop a replacement lapse table, and consider developing tables for valuation on total lives basis as well as active lives basis.

The Multiemployer Plans Committee submitted comments to the Internal Revenue Service about a proposed form for reporting the annual actuarial certification for multiemployer defined benefit plans.

The Academy C-3 Life and Annuities Work Group (C-3 WG) has a request from the NAIC Life Risk-Based Capital (E) Working Group (LRBC) to “Update the current C-3 Phase I or C-3 Phase II methodology to include Indexed Annuities.”

Steve Jackson, Academy Assistant Director for Research, shared an update on the Scalars Project to the National Association of Insurance Commissioners (NAIC) International Insurance Relations (G) Committee.

The Long-Term Care (LTC) Valuation Work Group gave a presentation to NAIC’s LTC Actuarial (B) Working Group as part of the NAIC Summer 2020 Virtual National Meeting.

The PBR Governance Work Group provided an update on Academy PBR Resources to the Life Actuarial (A) Task Force at the NAIC 2020 Summer National Meeting. 

The Life Experience Committee Mortality Improvement Subgroup presented an update on the 2020 Life MI Scale Recommendation to the Life Actuarial (A) Task Force during the NAIC 2020 Summer National Meeting. 

The Pension Committee published a practice note, ASOP No. 51: Risk Assessment in Practice, providing information to actuaries on current or emerging practices affected by ASOP No. 51, Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions.

The Academy's senior casualty fellow Rich Gibson submitted comments on the latest draft of the NAIC's proposed white paper on Regulatory Review of Predictive Models.

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.