“Retirement Heist”: How firms trimmed pensions
NPR's “Morning Edition,” Sept. 29, 2011
Academy Senior Pension Fellow Donald Fuerst discussed Ellen Schultz’s new book, “Retirement Heist,” with host Steve Inskeep. Audio available.
NAIC panel wrestles with retiree benefits accounting National Underwriter Life & Health, Sept. 26, 2011
The Academy Joint Committee on Retiree Health and Pension Accounting Committee’s letter to the National Association of Insurance Commissioners regarding an exposure draft of Statement of Statutory Accounting Principles (SSAP) No. 92 and the proposed revisions to SSAP No. 89 was discussed.
Website: New Postings
The Financial Reporting Committee commented on a paper by the Public Company Accounting Oversight Board (PCAOB) on the issues surrounding the auditor’s report based on recent investor feedback. The committee’s comments included a recommendation to increase disclosure and provide more detail to the auditor’s reporting model.
Upcoming Events
The Academy is hosting a jointly sponsored Capitol Hill briefing with the Society of Actuaries on Oct. 11 to present new research findings from the actuarial profession that illustrates a “rising tide” of funding challenges facing the private defined benefit system. Presenters will discuss important implications for plan sponsors, beneficiaries, and policymakers. Learn more about this briefing: Important New Research Findings Indicate a “Rising Tide” of Contributions Facing Defined Benefit Pensions.
The Life and Health Qualifications Seminar is the primary source of instruction for actuaries who wish to be qualified to issue actuarial opinions for either the NAIC Life and A&H Annual Statement or the NAIC Health Annual Statement. Presenters will discuss asset adequacy testing, statutory insurance accounting, valuation and nonforfeiture requirements, and more. It is also a great way for actuaries to earn up to 27.3 CE credits—including the 15 hours of continuing education required under Section 3 of the U.S. Qualification Standards related to the NAIC life and health annual statement opinions. Register today!
Recently Released Publications
September HealthCheck: Read about President Obama’s decision to ask the Supreme Court to rule on the individual mandate requirement in the Affordable Care Act and the Medicare Steering Committee’s letter to the Joint Select Committee on Deficit Reduction in this issue of HealthCheck.
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