The Financial Reporting Committee and the Committee on Property and Liability Financial Reporting sent a comment letter to the SEC on its concept release on the modernization of certain disclosure requirements in Regulation S-K.
(July 21, 2016)The Pension Committee released a comment letter on the decision by the Internal Revenue Service (IRS) to limit pension actuaries’ ability to interact with IRS actuaries and other experienced employee-benefits personnel.
(July 15, 2016)The SVL Interest Rate Modernization Work Group submitted comments to the NAIC's VM-22 Subgroup of the Life Actuarial Task Force (LATF) in a question-and-answer format on the determination of statutory valuation interest rates.
(July 15, 2016)The latest issue of PBA Perspectives features updates on principle-based reserving as well as regulatory, legislative, and Academy activities surrounding the implementation of the principle-based approach (PBA) for life insurance.
(July 15, 2016)The Committee on Property and Liability Financial Reporting (COPLFR) sent a comment letter to the NAIC noting certain inconsistencies in the instructions for certification of loss reserves for international insurers.
(July 07, 2016)The Life Reserves Work Group (LRWG) submitted comments to the NAIC's Life Actuarial Task Force (LATF) on the exposed NAIC staff Amendment Proposal Form (APF) on VM-20 product aggregation.
(July 05, 2016)The Life Practice Council submitted comments to the NAIC's Life Actuarial Task Force (LATF) on the qualified actuaries’ responsibilities to the interests of the company versus the commissioner.
(June 30, 2016)The Social Security Committee released an issue brief that explores possible design changes to Social Security addressing issues faced by a growing part of the U.S. population who may attain advanced ages and lack adequate resources.
(June 30, 2016)The Academy released its second issue of StateScan Quarterly, which now offers highlights of both state regulatory and legislative activities. This issue’s topics include principle-based reserving, Medicaid expansion, and insurance for ride-sharing operations that can be found through StateScan, the legislative/regulatory portal that is provided to Academy members.
(June 30, 2016)The ERM/ORSA Committee's Risk Exposures Subgroup released a practice note on quantifying risk exposures for Own Risk and Solvency Assessment (ORSA) reports.
(June 27, 2016)The Social Security Committee released an issue brief on the 2016 Social Security Trustees Report that examines the social insurance program’s long-term solvency issues and recommends that Congress should act soon to improve the long-term financial outlook of the program.
(June 27, 2016)The Medicare Subcommittee published an issue brief, “Medicare’s Financial Condition: Beyond Actuarial Balance,” on significant concerns about Medicare’s long-term financial health.
(June 24, 2016)The Pension Committee submitted a comment letter to the Pension Benefit Guarantee Corporation (PBGC) expressing appreciation for proposed regulations providing a reduction or partial waiver of the penalty due upon the late payment of premiums to the single employer and multiemployer insurance programs.
(June 22, 2016)The Role of the Actuary Subgroup submitted comments to the NAIC's Life Actuarial Task Force (LATF) on the Consolidated ACLI and Academy Amendment Proposal Form.
(June 22, 2016)The Joint American Academy of Actuaries Life Experience Committee and Society of Actuaries Preferred Mortality Oversight Group provided an update on guaranteed issue and preneed mortality to the Life Actuarial Task Force.
(June 16, 2016)The Pension Committee submitted a comment letter to the IRS and Treasury requesting that the 2017 Applicable Mortality Tables be issued as soon as possible.
(June 10, 2016)The Role of the Actuary Subgroup submitted comments to the NAIC's Life Actuarial Task Force (LATF) on Section 4 of the Valuation Manual-G.
(June 10, 2016)The Intersector Group released the notes of its March 2016 meeting with the Treasury Department and Internal Revenue Service
(June 07, 2016)The Intersector Group released the notes of its March 2016 meeting with the Pension Benefit Guaranty Corporation.
(June 07, 2016)The Solvency Committee submitted comments to the NAIC's Operational Risk (E) Subgroup on its "Operational Risk 2016 Factors" exposure document.
(June 06, 2016)