The Separate Account Products Work Group made additional comments on the Potential Actions/Recommendations (Document 2) exposed for comment in November 2013 by the NAIC Separate Account Risk (E) Working Group.
The Social Security Committee updated its issue brief on the quantitative measures policymakers can use while evaluating Social Security reform.
(May 02, 2014)Intersector Group releases a report to the Pension Practice Council containing notes from its March 2014 meeting with the Pension Benefit Guaranty Corporation.
(May 01, 2014)The Academy hosted Retirement for the AGES: Measuring for Success, a forum that brought together retirement community leaders for an in-depth discussion and thought-provoking assessment of retirement plans and current proposals, based on the Academy’s Retirement for the AGES framework for retirement-income systems.
(May 01, 2014)Steve Goss, Chief Actuary of the Social Security Administration, presented Social Security Disability Insurance Trust Fund: Behind the Numbers at an Academy Capitol Forum webinar.
(April 24, 2014)The Minimum Value Practice Note Work Group released a final practice note related to determinations of minimum value (MV) and actuarial value (AV) under the Affordable Care Act (ACA), which includes a discussion of plan designs not accommodated by the calculators.
(April 24, 2014)The Principle-based Reserve Strategy Subgroup (PBRSS) submitted a comment letter to the NAIC suggesting topics to be discussed at a potential interim meeting of the PBR Implementation (EX) Task Force.
The Academy published a new Essential Elements paper, The 80% Pension Funding Myth, which adds to its series designed to make actuarial analyses of public policy issues more accessible to widespread audiences. Visit the Essential Elements webpage to read this paper and others in the series.
(April 23, 2014)The Life Practice Council presented a webinar reviewing the NAIC Spring 2014 National Meeting and activities, including a rundown of the most recent Life Actuarial (A) Task Force meeting, a discussion of activities at the Life Risk-Based Capital (E) Working Group meeting, an update on VM-22 development, and a review of the recently exposed practice note Life Principle-Based Reserves Under VM-20.
The Risk-Sharing Work Group submitted a letter to the Center for Consumer Information and Insurance Oversight (CCIIO) with comments on a proposed rule related to exchanges and market reforms for 2015, specifically addressing ACA risk-sharing mechanisms.
(April 21, 2014)The Pension Practice Council and Pension Finance Task Force both sent letters concerning recent proposals to use pension policy as an offset for unrelated spending increases. Read the news release.
(April 17, 2014)In this month’s HealthCheck, read about the Academy’s new Health Cost and Quality of Care Initiative, enactment of a law preserving the sustainable growth rate for one year, proposed and final HHS rules, a citation of the Academy in a New York Times article on the Genetic Information Nondiscrimination Act, and much more.
(April 16, 2014)The Life Capital Adequacy Subgroup submitted comments on the NAIC Operational Risk Subgroup’s March 20 exposure of a revised proposal that suggests a new “C-5” factor in the NAIC Life Risk-Based Capital formula to provide for operational risk.
The Principle-based Reserves Strategy Subgroup submitted comments clarifying the suggestion to eliminate the net premium reserve (NPR) component of VM-20 in previous comments on Feb. 17 Report of Rector & Associates to the Principle-Based Reserving Implementation (EX) Task Force.
On April 28, the Academy will host a forum, Retirement for the AGES: Measuring for Success, that will bring together retirement community leaders for a discussion of retirement plans and proposals, and an assessment of them using the Academy’s new framework for retirement-income systems. The all-day forum at the Ronald Reagan International Trade Center in Washington will include a review of the Academy’s AGES framework, presentations of policy proposals to increase retirement security, and panel discussions on how well these retirement plans and proposals adhere to the AGES framework. Click here to register.
(April 10, 2014)The American Academy of Actuaries’ initiative, Examining the Health Care Equation – Actuarial Perspectives on Cost and Quality, examines health care cost growth and explores options to reduce long-term spending growth and promote high-quality care.
On April 7, 2014, the Academy launched this initiative with a Capitol Hill Briefing as part of its continuing effort to provide objective, unbiased information to serve the public and the United States actuarial profession. The first paper in the series, "New Models of Care Delivery," and the flyer "What Drives the Growing Cost of Health Care" were presented. If you were unable to attend the briefing, please click here to view the presentation.
Click Here for more information on the Academy's latest initiative.
The Life Financial Reporting Committee completed its draft of its Practice Note detailing practices on the purchase method of accounting on VOBA, goodwill and other intangible assets under Generally Accepted Accounting Principles commonly referred to as Purchase GAAP and is exposed for comment until June 2.
The C-1 Work Group gave a presentation at the NAIC Spring National Meeting to the Investment Risk-Based Capital Working Group on C-1 Factors for Corporate Bonds in the Life Risk-Based Capital Instructions.
The Medicare Supplement Work Group presented an update to the NAIC's Health Actuarial Task Force on the progress of a review of the Medicare supplement review and a list of next steps.
(March 28, 2014)
