The Annuity Reserves Work Group (ARWG) provided a non-variable annuity PBR update to the Life Actuarial Task Force’s VM-22 Subgroup at the NAIC Fall 2015 National Meeting. (November 16, 2015)
Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (November 13, 2015)
The Academy held a webinar exploring various applications of yield curve rates in determining the elements of pension accounting cost. Academy members can access the webinar here. (November 11, 2015)
The P/C Risk-Based Capital Committee submitted a comment letter to the NAIC’s Capital Adequacy Task Force on the ongoing examination of the bond risk factors used in the P/C risk-based capital (RBC) formula. (November 10, 2015)
The November issue of HealthCheck recaps the Academy’s ‘Aging Securely’ Forum, held in Washington late last month, and the concurrent release of several Medicare and Long-Term Care papers; a Health Practice International Committee issue brief; and the Academy’s Nov. 4 international health care webinar—the last in a series with the Academy’s Health Practice International Committee and the International Actuarial Association Health Section—that focused on Canada and Chile. (November 11, 2015)
Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (November 06, 2015)
Pension Practice Council submitted comments to the Treasury Department and Internal Revenue Service regarding final regulations concerning Qualified Longevity Annuity Contracts (QLACs) and their advantages. (November 06, 2015)
The dues renewal process for 2016 is now open, with membership dues remaining the same for a fifth consecutive year. Members may log in here to pay and make changes to your account. Coinciding with the dues renewal, the Academy released The Record, which highlights the Academy’s 2015 publications and achievements. (November 11, 2015)
The Canada-United States Cross-Border Discipline Agreement is designed to reduce the risk that actuaries from one country doing actuarial work in the other have to go through two discipline processes arising from a single complaint made to the Canadian Institute of Actuaries (CIA) and/or the American Academy of Actuaries (Academy). To assist actuaries in understanding how the Cross-Border Discipline Agreement operates and the professional obligations of Canadian actuaries working in the United States and American actuaries working in Canada, the Academy and the CIA have produced a Frequently Asked Questions (FAQs) document. The FAQs answer many questions, including the following:
I am a U.S. actuary and am doing work for a Canadian principal. When am I considered to be “practicing in Canada”?
I am both a U.S. actuary and a Canadian actuary. What rules of professional conduct apply to me?
You can find the Cross-Border Agreement here and the FAQs and their answers here. (November 06, 2015)
The latest issue of Contingencies is now available in its digital version. It includes a host of features including Rising Tides: The United States faces a serious economic disruption from higher sea levels unless action is taken soon; Resilient Communities: Standing Up to Mother Nature: Better materials and better building codes can help businesses prepare for extreme events; End-of-Life Care in an Aging World: A Global Perspective: The impact of the changing demographics on health care systems must be understood in the context of complex constraints; and Communicating Longevity Risk: The second in this two-part series shows how mutual understanding is necessary to communicate policies and solutions in a way the public will find meaningful. (November 03, 2015)
The Financial Reporting and Solvency Committee submitted a comment letter to the NAIC's Emerging Accounting Issues (E) Working Group on the “ACA Risk Corridors Collectability” exposure draft. (October 30, 2015)
Read the latest issue of This Week—the Academy's end-of-week digital newsletter, compiling a week’s worth of news, updates, and media coverage in one convenient, easy-to-use publication. (October 30, 2015)
The October Actuarial Update covers the recent “Aging Securely” Capitol Hill forum and release of the new Social Security Game; the appointment of the Academy’s new general counsel, Paul Kollmer-Dorsey; the release of a joint paper on longevity risk; and the ASB’s release of ASOP No. 50. (October 30, 2015)
The Life Reserves Work Group submitted an amendment proposal to the NAIC regarding the definition and clarification of the term “modeled reserve” in the VM-20. (October 21, 2015)
The Life Reserves Work Group submitted an amendment proposal to the NAIC regarding the removal of references to the “seriatim reserve” in the Valuation Manual. (October 21, 2015)
