The Health Solvency Subcommittee sent comments to the NAIC's Health Risk-Based Capital (E) Working Group on the impact on Health Risk-Based Capital (HRBC) from the Tax Cuts and Jobs Act of 2017 (TCJA).
(October 17, 2018)The Annuity Illustration Work Group submitted a letter, consolidating their comments to the NAIC, on proposed changes to Annuity Disclosure Model Regulation #245.
(October 17, 2018)The Life Reserves Work Group submitted a revised amendment proposal form to the NAIC on mortality experience assumptions and the selection of the industry basic table when company experience mortality rates are higher than the industry basic table.
(October 02, 2018)
The Intersector Group released the notes of its April 2018 meeting with the Pension Benefit Guaranty Corporation.
(September 27, 2018)
The Multiemployer Plans Committee submitted a follow-up letter to the Joint Select Committee on Solvency of Multiemployer Pension Plans on key topics discussed during a June 22 meeting regarding loan proposals and other solutions for troubled multiemployer pension plans.
(September 25, 2018)
The Pension Committee published a practice note covering topics related to the implementation of the spot rate approach to determining benefit obligations, service cost, and interest cost under accounting standards and other granular approaches.
(September 23, 2018)
The Pension Committee released an exposure draft of practice note on current and emerging practices in the development of liabilities and cost estimates for pension plans with benefits paid as a lump sum. The comment deadline for this exposure draft is November 15, 2018.
(September 20, 2018)
The Solvency Committee submitted comments to the NAIC's Group Capital Calculation (E) Working Group on scope and non-insurance testing.
(September 19, 2018)
The Big Data Task Force submitted comments ahead of the U.S. Senate Committee on Banking, Housing, and Urban Affairs' hearing, Fintech: Examining Digitization, Data, and Technology.
(September 16, 2018)The Intersector Group released an Academy Alert highlighting time-sensitive information in advance of the publication of the notes from its April 4 meetings with the Internal Revenue Service (IRS) and the U.S. Department of the Treasury. The Intersector Group has chosen to release the following information now due to the time-sensitive nature for plan sponsors who are considering making contributions to defined benefit (DB) plans on Sept. 15. The full minutes of the group’s meeting with the IRS and Treasury will be published in the near future.
The Life Reserves Work Group submitted a revised amendment proposal form to the NAIC on the aggregation of mortality segments for the purpose of determining credibility.
(September 11, 2018)The RBC Tax Reform Work Group submitted a guidance document to the NAIC on the interpretation of life risk-based capital results in light of the 2017 Tax Cuts and Jobs Act.
(September 06, 2018)
The Casualty Practice Council’s Travel Insurance Task Force published a monograph, Travel Insurance: An Actuarial Perspective, which provides information on the manner in which travel insurance is designed, filed, priced, sold, and serviced. Read the news release.
(September 04, 2018)
The ERM/ORSA Committee submitted comments to the NAIC’s Financial Regulation Standards and Accreditation (F) Committee on their ORSA Review Timelines exposure
(September 04, 2018)
The Individual and Small Group Markets Committee and its Risk Sharing Subcommittee submitted comments on the Centers for Medicare & Medicaid Services’ (CMS) and Department of Health and Human Services’ (HHS) Aug. 10 proposed rule regarding the adoption of methodology for the HHS-operated permanent risk adjustment program.
(September 04, 2018)A new issue brief produced by the Individual and Small Group Markets Committee, Auto-Enrollment Into Individual Market Health Insurance Coverage, provides insights on the potential and challenges of using auto-enrollment in the individual health insurance market, in particular by exploring current uses of auto-enrollment and what would be needed to implement auto-enrollment in the individual market.
(September 03, 2018)The Life Illustrations Work Group submitted a comment letter to the NAIC on draft changes to Model #582.
(August 30, 2018)The Macroprudential Task Force submitted a comment letter to the NAIC on the exposed scope for liquidity stress testing.
(August 30, 2018)Ted Goldman, the Academy's Senior Pension Fellow, testified before the U.S. Department of Labor's Advisory Council on Employee Welfare and Pension Benefit Plans at a hearing on "Lifetime Income Solutions as a Qualified Default Investment Alternative (QDIA) - Focus on Decumulaion and Rollovers." Read Goldman's testimony and presentation slides.
(August 16, 2018)The Academy's Life and Health Valuation Law Manual Task Force submitted a comment letter to the NAIC Life Actuarial (A) Task Force outlining recommended changes to the 2019 Life and Health Valuation Law Manual.
(August 15, 2018)
