This Week: March 25, 2011

Academy Announcement

• Academy President Mary Frances Miller updated members on the continuing discussions by the Board of Directors regarding the recommendations for nominations, elections, and board composition and structure based on the Governance Task Force final report.

• The Academy’s Nominating Committee welcomes nominations for members to stand for election as regular directors to the Academy Board of Directors. Click here for more information about nominating guidelines and how to submit your nomination(s).

News Releases

• The Academy released a media advisory (March 24, 2011) announcing the April 4 Capitol Hill briefing, Pension Risk and Your Retirement.

Website: New Postings

• The Academy’s Council on Professionalism presented a live webinar on ASOP No. 41, Actuarial Communications, on Wednesday to more than 8,000 participants. Featured speakers Al Beer and Jim Murphy reviewed the newly adopted changes that will go into effect May 1. If you missed this highly successful, cross-practice webinar, you can click here to access the slides.

• The Life Financial Reporting Committee issued a practice note regarding Market Consistent Embedded Values.

Upcoming Events

• The Academy will present a briefing, Pension Risk and Your Retirement, on Capitol Hill on April 4. With national policy debate increasingly focusing on pension risk as one of the next, immediate critical economic issues, the timing of this briefing is especially important. While the briefing is targeted to policy makers, everyone is welcome to attend.

• The Life Practice Council will review the NAIC Spring National Meeting in a live 90-minute webinar on April 14. The Post-NAIC Update/PBA webinar also will include updates regarding the PBA practice note, as well as the VM-20 impact study.

Recently Released Publications

• March HealthCheck: Read reports from the Academy on health care reform, recent Academy activities, legislative and regulatory updates, media activities, and upcoming health care reform events.

• March Actuarial Update: Read about the Health Practice Council and Federal Health Committee’s annual Capitol Hill visits in this issue. Other highlights include a report on the terrorism risk insurance market and a reminder to Academy volunteers that the deadline for acknowledgement of the conflict of interest policy is fast approaching.

News from the Actuarial Standards Board

• The ASB recently adopted a revision of ASOP No. 10, Methods and Assumptions for Use in Life Insurance Company Financial Statements Prepared in Accordance with U.S. GAAP. Visit the ASB's website to view the draft.

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