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

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

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 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 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 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 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.

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

The Non-Guaranteed Elements Work Group submitted a comment letter to the NAIC Life Insurance Buyer's Guide (A) Working Group on their recent exposure draft. 

The RBC Tax Reform Work Group submitted a comment letter to the NAIC on suggested changes to risk-based capital calculations. 

Craig Hanna, director of public policy, presented to the NAIC's Climate Change and Global Warming (C) Working Group on the Actuaries Climate Index and the Actuaries Climate Risk Index.

The PBA Governance Work Group presented an update on Academy involvement with PBR to the NAIC's Life Actuarial (A) Task Force. 

The Financial Reporting Committee submitted implementation questions for consideration by the IFRS Transitions Resource Group on IFRS 17 Insurance Contracts.

Mary Bahna-Nolan, chairperson of the Life Experience Committee, presented to the NAIC's Life Actuarial (A) Task Force on guaranteed issue (GI) reserve comparison using different mortality bases. 

Tricia Matson, Chairperson of the Longevity Risk Task Force, presented an update to the NAIC's Life Actuarial (A) Task Force on the Academy's proposed longevity risk field study. 

Mary Bahna-Nolan, chairperson of the Life Experience Committee, submitted a letter to the NAIC's Life Actuarial (A) Task Force in response to comments from the American Council of Life Insurers (ACLI) on accelerated underwriting data elements.