The Academy updated its Essential Elements reports on Medicare’s Long-Term Sustainability Challenge and Securing Social Security with information from the newly released 2019 Medicare and Social Security trustees reports. The Essential Elements series is designed to make actuarial analyses of public policy issues clearer to general audiences.

The Pension Committee submitted a comment letter to the ASB on the fourth exposure draft of the Modeling ASOP. 

The Intersector group released the notes of its March 2019 meeting with the Pension Benefit Guaranty Corporation. 

The Casualty Practice Council submitted a comment letter to the Actuarial Standards Board on the fourth exposure draft of a proposed new actuarial standard of practice for modeling.

The Financial Regulatory Reform Task Force submitted a comment letter to the Financial Stability Oversight Council regarding the Council’s proposed guidance on nonbank financial company determinations.

The ERM/ORSA Committee submitted a comment letter to the Actuarial Standards Board on the fourth exposure draft of a proposed new actuarial standard of practice for modeling.

The P/C RBC Committee submitted a scope letter to the NAIC P&C Risk-Based Capital (E) Working Group outlining proposed research into various underwriting risk factors in the RBC formula for P/C insurers.

The Life Experience Committee sent a letter to the NAIC Life Actuarial (A) Task Force addressing concerns with the 2001 CSO Tables for Guaranteed Issue (GI) business. 

The Life Capital Adequacy Committee submitted comments to the NAIC Capital Adequacy (E) Task Force on their exposed risk-based capital preamble. 

The Individual and Small Group Markets Committee sent comments in response to the Department of Health and Human Services’ request for information on selling insurance across state lines through Health Care Choice Compacts.

The Intersector group released the notes of its March 2019 meeting with the Treasury Department and Internal Revenue Service.

The IFRS 17 Work Group submitted comments to the IAA on the exposure draft of IAN 100 on Application of IFRS 17 Insurance Contracts.

The Annuity Illustration Work Group submitted a comment letter to the NAIC Annuity Disclosure (A) Working Group on proposed changes to the Annuity Disclosure Model Regulation #245. 

The Medicare Subcommittee has released a new issue brief, Medicare’s Financial Condition: Beyond Actuarial Balance. The brief highlights the findings of the annual report to Congress by the Boards of Trustees of the Federal Hospital Insurance (HI) and Supplementary Medical Insurance (SMI) trust funds on Medicare’s financial condition.

The Life Reinsurance Work Group submitted a comment letter to the Life Actuarial (A) Task Force on exposed amendment proposal forms 2019-17 and 2019-24, which pertain to yearly renewable term reinsurance. 

The Longevity Risk Task Force provided an update on its field study results, key assumptions, and next steps to the Life Risk-Based Capital (E) Working Group at the NAIC Spring 2019 National Meeting. 

The C-2 Work Group provided an update to the Life Risk-Based Capital (E) Working Group at the NAIC Spring 2019 National Meeting. 

The PBR Governance Work Group gave an update on Academy PBR involvement to the Life Actuarial (A) Task Force at the NAIC Spring 2019 National Meeting. 

The Multiemployer Plans Committee submitted comments to the Pension Benefit Guaranty Corporation (PBGC) regarding simplified methods and other aspects of computing withdrawal liability under the Multiemployer Pension Reform Act of 2014.

The Life Reserves Work Group gave a presentation on the PBR treatment for individually underwritten group insurance to the Life Actuarial (A) Task Force.