The Academy submitted a comment letter to the NAIC’s Casualty Actuarial and Statistical Task Force on its review of the Society of Actuaries’ (SOA) general insurance track request. (June 29, 2015)

Academy members are invited to nominate themselves or others for consideration as a candidate to be a regular director on the Academy’s board of directors. Simply submit your nomination to the Academy’s Nominating Committee through the 2015 Election Center. The Nominating Committee may also be reaching out directly to members and asking them to seek election to the board as a regular director. Anyone who would like to be considered for a regular director position is encouraged to let the Nominating Committee know by completing the online form. (June 29, 2015)

Five individuals have been nominated for officer positions on the Academy Board, with Bob Beuerlein leading the slate as the nominee to be the Academy’s next president-elect. Read about all the officer nominees submitted on the Nominating Committee slate on the Academy’s Election Center page. The board will vote on the slate on Oct. 7, 2015. Terms will begin at the close of the Annual Meeting of Academy members on Nov. 12 during the Academy’s 50th anniversary celebration encompassing its Annual Meeting and Public Policy Forum, Nov. 12-13. (June 26, 2015)

The Annuity Reserves Work Group submitted a report to the NAIC's VM-22 (A) Subgroup outlining the potential uses of the representative scenarios method (RSM) in calculating annuity reserves. (June 23, 2015)

The Academy’s Public Interest Committee released a paper providing a common framework for discussion on sustainability of U.S. financial security programs, including Social Security, Medicare, and other types of insurance. Sustainability in American Financial Security Programs describes sustainability and related factors for policymakers, actuaries, and others for use when examining and proposing reforms of these programs. (June 24, 2015)

In the Summer 2015 edition of Retirement Account, read about the Pension Committee's revised practice note on mortality assumptions; testimony from Ellen Kleinstuber, vice chairperson of the Pension Committee, to the ERISA Advisory Council; news and announcements on upcoming Academy pension events, and more.  (June 18, 2015)

The Financial Regulatory Task Force (FinReg) sent a letter to the U.S. House Financial Services Committee (HFSC) on the Financial Stability Oversight Council (FSOC) 2015 annual report. (June 16, 2015)

Two Academy members participated in the NAIC Center for Insurance Policy and Research (CIPR) Symposium on retirement issues earlier this week. Lifetime Income Risk Joint Task Force member Mark Shemtob presented on lifetime income insurance products and related issues. Warren Jones, chairperson of the LTC Terminations Work Group, was a panelist on a discussion about the future of long-term care support and services. (June 16, 2015)

The Deposit Fund Subgroup submitted a letter to the NAIC Life Actuarial (A) Task Force recommending edits to model regulation 695 concerning synthetic guaranteed investment contracts (GICs). (June 15, 2015)

The Pension Committee released an update to “Selecting and Documenting Mortality Assumptions” for Pensions to reflect a new mortality improvement scale (BB) published by the Retirement Plans Experience Committee (RPEC) of the Society of Actuaries in 2012, mortality table RP-2014, and mortality improvement scale MP-2014 published by the Society of Actuaries in 2014.  (June 15, 2015)