The Long-Term Care Combination Product Valuation Work Group updated the Long-Term Care (LTC) Actuarial Working Group of the National Association of Insurance Commissioners on the LTC Combination Product Valuation Practice Note currently exposed for comment.

The Long-Term Care (LTC) Valuation Work Group presented an update on their recent activity to the Actuarial Working Group of the National Association of Insurance Commissioners.

The Academy hosted a briefing, “Strengthening the System for the Future,” moderated by vice president for pension issues, Josh Shapiro, and featuring expert panelists from the Multiemployer Plans Committee, to provide essential background on the multiemployer pension crisis and its current state. This was the third and final briefing in the Academy’s “Multiemployer Pension Crisis: A 360-Degree Look at the Issue and Potential Reforms” series, intended to equip attendees with a solid foundation of the past, present, and potential future of multiemployer pension plans.

The LRWG provided an update to the Life Actuarial (A) Task Force at the NAIC Summer 2019 National Meeting on its projected timeline for deliverables, specifically an amendment proposal form intended for the 2021 Valuation Manual. 

The PBR Governance Work Group presented an update on Academy resources for PBR to the Life Actuarial (A) Task Force at the NAIC Summer 2019 National Meeting. 

The Life Practice Council gave an update on the proposed yearly renewable term field test to the Life Actuarial (A) Task Force at the NAIC Summer 2019 National Meeting. 

The Life Experience Committee submitted an amendment proposal form and supplemental comment letter providing a revision to data elements in VM-51 to accommodate and differentiate individual underwriting and allow more robust mortality data for development of Industry Mortality Tables. 

The SVL Interest Rate Modernization Work Group gave an update to the Life Actuarial (A) Task Force at the NAIC Summer 2019 National Meeting. 

The ARWG provided an update on its work on fixed annuity PBR to the Life Actuarial (A) Task Force at the NAIC Summer 2019 National Meeting. 

The Health Practice Council submitted comments in response to the Actuarial Standards Board’s (ASB) second exposure draft of a proposed actuarial standard of practice (ASOP) titled Setting Assumptions.

Academy President Shawna Ackerman submitted comments to the NAIC's Blanks Working Group, regarding proposed changes in required qualifications for casualty actuaries filing statements of actuarial opinion.

The Academy hosted a briefing, featuring vice president for pension issues, Josh Shapiro, and expert panelists from the Multiemployer Plans Committee, to provide essential background on the multiemployer pension crisis and its current state. This briefing is the second in the Academy’s “Multiemployer Pension Crisis: A 360-Degree Look at the Issue and Potential Reforms” briefing series, which is intended to equip attendees with a solid foundation of the past, present, and potential future of multiemployer pension plans.

The Medicaid Subcommittee sent comments on the May 15, 2019 CMCS Informational Bulletin (CIB) titled Medical Loss Ratio (MLR) Requirements Related to Third-Party Vendors seeking additional clarification.

The Academy hosted a briefing, featuring expert panelists from the Multiemployer Plans Committee, to provide essential background on the multiemployer pension crisis and its current state. This briefing is the first in the Academy’s “Multiemployer Pension Crisis: A 360-Degree Look at the Issue and Potential Reforms” briefing series, which is intended to equip attendees with a solid foundation of the past, present, and potential future of multiemployer pension plans.

A new issue brief developed by the Academy’s Retirement System Assessment and Policy Committee explores the concept of a national retirement policy, including the potential benefits of such a policy and the various topics that it might address. Read the news release.

The Life Practice Council submitted a comment letter to the Actuarial Standards Board, outlining its recommendations on the second exposure draft of the proposed actuarial standard of practice, Setting Assumptions. 

The CECL Work Group released a white paper on estimating the uncollectible reinsurance reserve for P&C companies.

The Academy's Casualty Practice Council has submitted comments to the Actuarial Standards Board, regarding the proposed ASOP on Setting Assumptions.

The Life Illustrations Work Group submitted a comment letter to the NAIC in response to questions on illustrations of Indexed Universal Life products under Actuarial Guideline 49. 

The Life Illustrations Work Group sent a comment letter to the NAIC IUL Illustration (A) Subgroup regarding the illustrations of Indexed Universal Life products under Actuarial Guideline 49.