Academy Immediate Past President Tom Wildsmith announced this week that it is time to renew your membership for 2017. Wildsmith highlighted the Academy’s mission-critical work in 2016 in “The Meaning of Your Membership,” which features key issues the Academy has addressed in public policy and professionalism in the past year, as well as Academy publications, the eLearning Center, and other significant initiatives.
After five consecutive years of no increases, the Academy Board approved just a $10 increase in dues for 2017, bringing the full regular member rate to $615. This will ensure that our financial position remains strong as the Academy continues to provide objective, nonpartisan actuarial analysis to policymakers in the United States, Wildsmith said.
Log in to pay and make changes to your account. If you have questions about your membership, please contact the Academy’s Membership Department at 202-223-8196, or membership@actuary.org
Annual Meeting Speeches, Photos Posted Online
The Academy posted highlight photos and speeches from the Nov. 3-4 Annual Meeting and Public Policy Forum—including the inaugural remarks of new Academy President Bob Beuerlein—this week. Also available are links to information on previous annual meetings and more. Look for additional coverage in the forthcoming November Actuarial Update.
Today—Deadline in Health Care ‘Actuarial Challenge’
Today is the deadline for those who intend to participate in the health insurance “Actuarial Challenge” to register their interest. The Academy is helping to promote this effort, which is being conducted by the Robert Wood Johnson Foundation in conjunction with Milliman. It is an opportunity for actuaries to provide innovative ideas and proposals to increase stability in the individual health insurance market. Teams or individuals wishing to participate should complete an initial online application before 6 p.m. EST today (Friday, Nov. 11); the challenge itself runs through April 2017. Visit the Actuarial Challenge website for more information.
Recently Released
The November HealthCheck recaps Centers for Medicare & Medicaid Services’ (CMS) Acting Administrator Andy Slavitt’s keynote address at the Academy’s Annual Meeting and Public Policy Forum last week in Washington; and covers recent state, federal and CMS rules and approvals.
Among the November ASB Boxscore coverage is the Actuarial Standards Board’s (ASB) recently adopted final revision of Actuarial Standard of Practice (ASOP) No. 21, Responding to or Assisting Auditors or Examiners in Connection with Financial Audits, Financial Reviews, and Financial Examinations, which was promulgated in 2004; ASB’s approval of an exposure draft on a proposed ASOP, Proposed Capital Adequacy Assessment; and the ASB’s new committee chairpersons.
Professionalism Outreach
Academy Immediate Past President Tom Wildsmith presented on “Developments in Actuarial Professionalism 2016” to more than 250 attendees of the annual meeting of the Actuarial Society of New York on Wednesday in New York City. He discussed the basic structures and key elements of U.S. actuarial professionalism, developments in actuarial professionalism, and tools and resources that are available to help actuaries keep up to date on professionalism.
At Wednesday’s meeting of the Actuaries Club of Boston, Academy Secretary/Treasurer and Committee on Qualifications member Tom Campbell delivered a professionalism presentation with a focus on changing, or qualifying for emerging, practice areas as well as the Academy’s U.S. Qualification Standards Attestation Form.
Actuarial Board for Counseling and Discipline member David Driscoll spoke at the Actuaries’ Club of Hartford & Springfield in Hartford, Conn., on Thursday.
Academy General Counsel and Director of Professionalism Paul Kollmer-Dorsey provided a professionalism update at the Middle Atlantic Actuarial Club’s fall meeting outside of Baltimore on Thursday.
Upcoming Events
Next Week—Alternative Pension Cost Webinar: The Academy will host a webinar, “Alternative Pension Cost—An Update and Review of Implementation Issues,” next Wednesday, Nov. 16, from noon to 1:15 p.m. EST. Presenters will advance the discussion of expense methodologies presented in the 2015 issue brief, Alternatives for Pension Cost Recognition, which were also discussed in a webinar last November. Next week’s webinar will feature leaders from the Academy’s Pension Committee and Pension Practice Council. The Academy believes in good faith that Enrolled Actuaries may earn non-core CPD under the JBEA rules for attending this webinar. Register today.
Registration Closing Next Week for P/C Loss Seminar: Just a few seats remain for the 2016 Seminar on Effective P/C Loss Reserve Opinions, to be held Dec. 6-7 in Chicago. This two-day seminar will enhance your expertise on the latest regulations and standards with reviews of actuarial qualification standards and interactive case studies. Register today.
See our website for a listing of all Academy events.
Alerts
The IRS issued a notice providing guidance concerning the applicability of the market rate of return limitation rules to a pension equity plan.
Subscribe to Member Alerts: Subscribers to the Academy’s alerts are notified by email when a new alert is posted in their area(s) of interest. The alerts are available in five areas of focus: casualty, health, life, pension, and cross-practice issues. Academy members may subscribe to any or all of them free of charge as a member service after signing in to the member section of the website.
In the News
Media coverage of the Academy’s Nov. 3-4 Annual Meeting and Public Policy Forum continued this week:
In his plenary address—televised live on C-SPAN2 and posted to C-SPAN’s website—Pension Benefit Guaranty Corp. Director Tom Reeder discussed the financial picture for single employer and multiemployer defined benefit pension plans. A Transport Topics story on the session quoted Academy Senior Pension Fellow Ted Goldman on the challenges of finding the right level at which to set premiums.
A Bloomberg BNA story focused on the long-term budget outlook for government health care spending in Congressional Budget Office (CBO) Director Keith Hall’s closing plenary address. CBO posted Hall’s slides on its website.
A Health Exec story cited Slavitt’s opening plenary address on the “new normal” in health care and the Affordable Care Act (ACA).
Also this week:
Senior Health Fellow Cori Uccello discussed the potential consequences of premium rate increases on nonsubsidized ACA plan holders in a Wall Street Journal story.
A CNN Money story on retirement income strategies cites as its number one recommendation understanding longevity risk using the Actuaries Longevity Illustrator, developed jointly by the Academy and the Society of Actuaries. The story was reprinted by Real Deal Retirement.
A McKnight’s story cited the Academy’s 2013 issue guide on the potential implications of shifting Medicare to a premium support program.
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