The Pension Committee (PC) submitted a comment letter to the Actuarial Standards Board (ASB) on the proposed Actuarial Standard of Practice (ASOP), Setting Assumptions.

The Premium Review Subgroup submitted comments to the Center for Consumer Information and Insurance Oversight on the final 2018 unified rate review template (URRT) instructions.

The Casualty Practice Council submitted a comment letter on the ASB's third exposure of the proposed Actuarial Standards of Practice (ASOP), Estimating Future Costs for Prospective Property/Casualty Risk Transfer and Risk Funding.

The Health Practice Council published an issue brief examining ways in which the individual health insurance market can be strengthened and made more viable. Read the news release. 

The Principle-Based Reserve (PBR) Model Governance Practice Note Work Group released a new practice note to provide additional information for practicing life actuaries seeking to better understand models, model risks, model governance, and related issues, as these actuaries implement PBR.

The Flood Insurance Work Group released a new public policy monograph, The National Flood Insurance Program: Challenges and Solutions. The monograph provides objective information to policy makers on differing approaches to premium setting and program financing, including both public and private financing mechanisms. It also examines improvements in flood risk assessment and modeling that are reducing the uncertainties surrounding flood coverage and could lead to greater market participation by private insurers and reinsurers. Read the news release.

The Pension Practice Council sent a letter to Congressional leaders on pension-related revenue offsets.

The Health Practice Council presented to the NAIC’s Health Insurance and Managed Care Committee on the potential changes to the Affordable Care Act through possible legislation and administrative actions, and subsequent actuarial considerations.

Tricia Matson, chairperson of the Longevity Risk Task Force, presented an update on efforts to develop a methodology for recognizing longevity risk in statutory reserves and risk-based capital (RBC) to the NAIC's Life RBC Working Group.

The Health Practice Council presented to the NAIC’s Health Actuarial Task Force on the potential changes to the Affordable Care Act through possible legislation and administrative actions and the actuarial considerations.

Mary Bahna-Nolan, chairperson of the joint committee of the Academy’s Life Experience Committee and SOA Preferred Mortality Oversight Group, presented updates on its work to the Life Actuarial Task Force (LATF) on guaranteed issue and preneed mortality tables, and simplified issue and accelerated underwriting mortality under VM-20.

The Life Experience Committee gave a report to the NAIC Life Actuarial Task Force (LATF) on 2017 guaranteed issue mortality tables, including spreadsheets with a blended mortality table, a male mortality table, and a female mortality table.

The Pension Committee submitted a comment letter to the IRS on an update to mortality tables for determining the present value for defined benefit pension plans.

The Workers Compensation Committee submitted a comment letter to California's Office of Self Insurance Plans that expresses concerns regarding guidance issued to actuaries who are evaluating self-insured workers compensation plans.

The spring issue of Retirement Account covers a presentation of “Longevity and Retirement Security” by Senior Pension Fellow Ted Goldman to a U.S. Chamber of Commerce retirement forum; notes from a Multiemployer Subcommittee meeting with members of the PBGC, and Treasury and Labor departments on multiemployer pension plans; an issue brief by the Pension Cost Work Group on pension cost recognition; and more.

The Multiemployer Plans Subcommittee released notes from its meeting on Feb. 22 with officials of the Treasury and Labor departments, and Pension Benefit Guaranty Corporation to discuss applications by multiemployer pension plans in critical and declining status to suspend benefits or partition liabilities.

The Individual and Small Group Markets Committee and the Medicaid Subcommittee sent comments to U.S. House Leadership on H.R. 1628, the American Health Care Act (AHCA), which is intended to repeal and replace provisions in the Affordable Care Act.

The Life Operational Risk Work Group submitted comments to the NAIC's Operational Risk (E) Subgroup on a draft report on operational life risk-based capital.

The Medicaid Funding Work Group published an issue brief addressing key design elements of block grants and per capita caps in relation to program sustainability.