The Academy's Pension Practice Council and Public Plans Subcommittee submitted a comment letter to the U.S. Securities and Exchange Commission requesting that public pension plans be excluded from the definition of "investment strategies" and that enrolled actuaries and members of the five U.S.-based actuarial organizations be excluded from the definition of "municipal advisors" to the extent they are providing actuarial services that are governed by the Actuarial Standards of Practice and the Code of Professional Conduct. (June 22, 2011)
The Academy's Pension Committee submitted a letter to the Internal Revenue Service with concerns about the implications of the proposed modifications to Circular 230 and registration requirements for PTINs and the application of these rules to various reporting requirements for retirement plan professionals. (June 14, 2011)
The Academy submits written testimony to the House Ways and Means Subcommittee on Health regarding a hearing on the 2011 Medicare Trustees Report.
(June 05, 2011)The Academy's Pension Committee submitted a letter to the Internal Revenue Service and Department of the Treasury with comments and recommendations for future guidance on merger and spinoff issues related to the measurement of assets and liabilities for pension funding purposes and funding ratios. (June 01, 2011)
The Medicare Steering Committee released a new issue brief that summarizes the key cost, access, and quality issues associated with some of the Medicare-related provisions in the various debt and deficit reduction proposals.
(May 31, 2011)The Academy's Social Insurance Committee released a new issue brief that highlights the 2011 Social Security Trustees Report and outlines the public policy options to address Social Security's long-term financial soundness.
(May 26, 2011)
Presentation slides are now available for the Pension Practice Council’s May 26 Capitol Hill briefing: An Actuarial Perspective on the 2011 Social Security Trustees Report. Presenters from the Academy's Social Insurance Committee shared insights on the 2011 Social Security Trustees Report and presented reform options that, if enacted now, could help address Social Security's long-term financial soundness.
(May 26, 2011)
The Academy's Pension Committee comments to the IRS and Treasury regarding the potential implications of expected regulatory guidance on the definition of "plan-related expenses expected to be paid from plan assets" under Internal Revenue Code (IRC) Section 430(b). (May 24, 2011)
The Pension Committee submitted comments to the Actuarial Standards Board regarding a proposed revision of ASOP No. 27, Selection of Economic Assumptions for Measuring Pension Obligations.
(May 12, 2011)
The ERM Committee responds to the NAIC on its draft, Own Risk and Solvency Assessment (ORSA) Model Act regarding the ORSA requirements and exemptions from the requirements, specifically the treatment of captive insurers.
(May 11, 2011)The presentation and video are available for the Academy Pension Practice Council's April 4 Capitol Hill briefing on Pension Risk and Your Retirement. Presenters Ethan Kra and Lane West addressed the risks inherent with retirement plan designs and the implications for retirement planning and public policy reforms. View videos of the briefing. Download the presentation.
(April 14, 2011)
Intersector Group releases a report to the Pension Practice Council containing notes from its March 2014 meeting with the Treasury Department and Internal Revenue Service.
()The Health Practice Council submitted comments to the Actuarial Standards Board on the fourth exposure draft of a proposed new actuarial standard of practice for modeling.
()The Health Practice Council co-signed a second letter with the Committee on Qualifications Chair to the Arizona insurance director stressing its concern that their regulatory definition of “qualified actuary” for health premium rate actuarial certifications was inappropriate and suggested corrective language.
()The Life Operational Risk Work Group submitted a follow-up letter to the NAIC on the exposed Life Risk-Based Capital growth charge proposal.
()The Invested Asset Work Group commented on the American Council of Life Insurers’ Commercial Mortgage Risk-based Capital (RBC) Proposal in a letter to the NAIC’s Life RBC Working Group.
()The Deposit Fund Subgroup submitted its proposal for reserving synthetic GICs based upon the report presented to the Life Actuarial Task Force on November 28, 2012. ()
The ERM/ORSA Climate Related Financial Disclosures Working Group shared an update to the National Association of Insurance Commissioners (NAIC) Climate and Resiliency (EX) Task Force at its National Meeting. Work Group Chair, Michelle Young, and Academy Assistant Director of Research, Steve Jackson, shared the group's research and analysis thus far, along with plans for phase two of the project.
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