The Life Principle-Based Approach Practice Note Work Group updated the 2017 VM-20 Practice Note to reflect emerging practices and changes to the Valuation Manual since the version effective for Dec. 31, 2019, valuations. 

The Public Plans Committee published a practice note reviewing current and emerging approaches to completion of the Actuarial section of the Comprehensive Annual Financial Report.

The Financial Reporting Committee submitted comments to the American Institute of Certified Public Accountants (AICPA) regarding draft revisions to the Audit and Accounting Guide: Life and Health Insurance Entities.

The Multiemployer Plans Committee submitted a letter to the Internal Revenue Service requesting leniency on the March 30th deadline for multiemployer pension plan certifications.

The Health Practice Council developed answers to several FAQs discussing the pandemic’s potential effects on health care spending and insurance as insurers develop premiums for 2021. Read the news release.

The Health Solvency Subcommittee submitted a response letter to the NAIC Health Risk-Based Capital (HRBC) Working Group for its request to provide the health bond factors over a range of additional time horizons—spanning one to five years. 

The Committee on Property and Liability Financial Reporting submitted comments on the CAS/SOA proposed new form for P/C Appointed Actuaries to report their continuing education activities.

The Pension Committee submitted a comment letter to the Internal Revenue Service on updated mortality improvement rates and static mortality tables for defined benefit pension plans for 2021.

Comments of the Individual and Small Group Markets Committee and Risk Sharing Subcommittee on the proposed rule for the 2020 Notice of Benefit and Payment Parameters (NBPP).

The Life Reinsurance Work Group sent a comment letter to the NAIC Reinsurance (E) Task Force regarding their exposed memorandum, which requested comments on whether compliance with Actuarial Guideline XLVIII (AG 48) should be considered to be "substantially similar" to Model #787 under the NAIC Financial Standards and Accreditation Program. 

The Medicaid Subcommittee has released a new issue brief addressing concerns related to the growing health care costs through Medicaid and analyzes the public policy proposals to reform the program. 

The Smarter Spending Work Group has released a new issue brief regarding consumers’, providers’, and payers’ roles in health care spending and initiatives and approaches to address health care costs.

A new issue brief has been released that explores current long-term care insurance (LTCI) programs, provides a history of long-term care (LTC) products, and discusses how a cash value LTCI design may provide consumer benefits.

The Casualty Practice Council submitted comments to the Actuarial Standards Board regarding a proposed new ASOP on rate-filing by property/casualty insurers.

The Life Illustrations Work Group sent a comment letter to the NAIC IUL Illustration (A) Subgroup on Indexed Universal Life insurance policies under Actuarial Guideline XLIX (AG 49). 

The C-1 Work Group sent a letter to the NAIC Capital Adequacy (E) Task Force on their proposal to expand the number of bond factors in the Life Risk-Based Capital formula. 

The Macroprudential Task Force sent a comment letter to the NAIC Financial Stability (EX) Task Force and Liquidity Assessment (EX) Subgroup on the exposed Liquidity Stress Testing Framework. 

The ERM/ORSA Committee submitted comments to the International Association of Insurance Supervisors' (IAIS) Issues Paper on the Implementation of the Recommendations of the Task Force on Climate-Related Financial Disclosures ("TCFD Recommendations").

The Longevity Risk Task Force sent a comment letter on the proposed longevity risk charge to the NAIC Life Risk-Based Capital (E) Working Group. 

The Solvency Committee submitted comments to the International Association of Insurance Supervisors (IAIS) regarding IAIS's Draft Application Paper on Liquidity Risk Management.