Public Policy

The Retirement Practice Council’s Pension Committee sent a letter to the House Budget Committee to ask that the Committee consider modifying the due date of the 2025 Pension Benefit Guarantee Corporation (PBGC) premiums for single-employer pension plans.

An issue brief from the Individual and Small Group Markets Committee, Ensuring Access, Affordability, Choice, and Competition in the Individual Health Insurance Market, provides an overview of how the individual health insurance market’s various rules build upon risk pooling’s foundation by supporting the goals of increasing access to coverage, improving affordability, enhancing consumer choice, and encouraging insurer competition.

A Medicaid Committee issue brief, Medicaid Per Capita Caps: Design Considerations and Policy Implications, focuses on Medicaid per-capita caps and discusses some of the key design considerations and the potential implications of different design decisions. In particular, it discusses considerations related to setting the initial federal per-capita cap and how that would change over time.

The Life Products Committee provided comments to the Life Actuarial (A) Task Force on a re-exposure of APF 2024-16, meant to provide guidance on a universal life nonforfeiture issue. 

The Life Practice Council provided comments to the Life Actuarial (A) Task Force on the most recent AAT for Reinsurance Actuarial Guideline Draft Exposure.

The Life Practice Council provided comments to the Life Actuarial (A) Task Force on the Illustration Actuary Knowledge Statements. 

The Data Science and Analytics Committee (DSAC) submitted comments to the International Association of Insurance Supervisors (IAIS) on IAIS' public consultation draft application paper on the supervision of artificial intelligence (AI).

The Annuity Reserves and Capital Subcommittee sent a comment letter to the NAIC’s Life Actuarial (A) Task Force VM-22 Subgroup on the Chair Exposure for Remaining Decisions on Framework.

A new issue brief from the Academy’s Long-Term Care Committee, The State of Long-Term Care Insurance—2025, highlights the current state of LTCI, focusing specifically on policy design, the management of legacy blocks of business, and policyholder engagement. It also considers potential areas for continued uncertainty in the industry.

The C1 Subcommittee presented an update to the Risk-Based Capital Investment Risk Evaluation (E) Working Group on their work determining comparable attributes of collateralized loan obligations (CLO).

A new document from the Committee on Property and Liability Financial Reporting (COPLFR) addresses issues raised by the recent Los Angeles wildfires. The Supplement to the 2024 COPLFR Practice Note—LA Wildfires offers a list of FAQs and associated responses for Appointed Actuaries’ consideration when providing statements of actuarial opinion for companies materially impacted by such events, whether directly or indirectly.

The Academy's Research Department along with representatives from EY presented to the Valuation Manual (VM)-22 (A) Subgroup, providing preliminary VM-22 Field Test results. 

The Annuity Reserve and Capital Subcommittee provided comments to the Valuation Manual (VM)-22 (A) Subgroup on proposed edits to the Standard Projection Amount (SPA) Policyholder Behavior Assumptions. 

The Financial Reporting Committee and the Life GAAP Reporting Committee sent an agenda request letter to the Financial Accounting Standards Board (FASB) encouraging FASB to consider a project related to portfolio layer method (PLM) hedge accounting for liabilities.

The Life Products Committee commented on the recent exposure of APF 2024-16, which attempts to address requests for guidance on a standard nonforfeiture issue related to universal life policies in VM-02.