The Life Reserves Work Group submitted an APF which seeks to revise the approach in VM-20 to determine the credited rate for index accounts in the calculation of the Deterministic Reserve (DR). 

The Life Products Committee submitted a comment letter to the NAIC Life Actuarial (A) Task Force on the exposed Actuarial Guideline, Application of Section 6 of the Standard Nonforfeiture Law for Individual Deferred Annuities Model 805.  

The Financial Regulatory Task Force submitted comments to the U.S. House of Representatives on S. 2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act.

Past Academy President Mary D. Miller submitted a letter from the Academy to the NAIC responding to an exposure draft that the Casualty Actuarial and Statistical Task Force has issued containing potential changes to the P/C Statement of Actuarial Opinion Instructions to address the CASTF’s “Attestation” charge.

The AG43/C3P2 Work Group submitted a follow-up comment letter to the NAIC Variable Annuity Issues Working Group on previously submitted recommendations to the working group. 

The Tax Work Group published a paper on frequently asked questions about life insurance tax reserve methods and assumptions. 

The Social Security Committee released an issue brief that examines automatic adjustment options to address Social Security's financial challenges.

The Multiemployer Plans Committee released an issue brief that discusses the costs and risks associated with multiemployer loan programs, and the ways in which these programs could benefit troubled plans and their participants.

The Life Illustrations Work Group submitted a comment letter to the NAIC Life Insurance Illustration Issues Working Group on draft changes to Model #582. 

Senior Casualty Fellow Kevin Ryan sent a comment letter to the International Association of Insurance Supervisors on their draft paper on climate change risks to the insurance sector.

The Committee on Property and Liability Financial Reporting released a practice note on retained P/C insurance-related risk.

The RBC Tax Reform Work Group submitted a follow-up letter to the NAIC Life Risk-Based Capital Working Group on additional comments regarding the impact of changes to corporate tax rate on RBC calculations. 

The PBR Model Governance Work Group submitted an amendment proposal form to the NAIC on universal life with secondary guarantees (ULSG) net premium reserve (NPR) lapse rate outlined in VM-20 Section 3.C. 

Ted Goldman, the Academy’s Senior Pension fellow, testified before the Joint Select Committee on Solvency of Multiemployer Pension Plans at a hearing on “The History and Structure of the Multiemployer Pension System.” Watch the full committee hearing here (Goldman’s testimony begins at the 58m 44s mark) and read Goldman’s testimony here.

The Academy hosted a Capitol Hill briefing on lifetime income. The presentation highlighted public policy options and practical tools that can help to secure lifetime incomes for retirees.

The Academy released a quiz on lifetime income that poses questions and answers to help consumers understand the issues and concepts behind planning a sound lifetime income strategy.

The Academy published a new Essential Elements paper, Income to Last a Lifetime, highlighting the challenges that workers face in planning for the risk that they may live longer in retirement than expected, and outlining public policy approaches to help future retirees secure and manage their lifetime income. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences.

The Pension Committee released an issue brief that analyzes the Pension Protection Act of 2006 (PPA) against the principles underlying funding reform. 

The Individual and Small Group Markets Committee sent comments on a proposed rule that would lengthen the maximum period of short-term, limited-duration (STLD) insurance through amending the definition of STLD.