The Casualty Practice Council submitted a letter to the NAIC’s Casualty Actuarial and Statistical Task Force on the CPC’s process for approving member actuaries to sign P/C NAIC opinions. (April 09, 2015)
On Tuesday, March 31, Mark Freedman, former president of the Society of Actuaries, filed a voluntary motion to dismiss the remaining claim alleging defamation, which was pending in the circuit court in Cook County, Illinois, against Academy Immediate Past President Tom Terry. The motion requires presentment to and approval of a judge, which is pro forma but required and scheduled for April 7. On Feb. 24, 2015, Judge Peter Flynn dismissed all other claims against the Academy. This withdrawal of the remaining defamation claim against Tom Terry as an individual brings to a close all claims against any party related to the Academy. The dismissal of the specific counts against the Academy and the withdrawal of the specific count against Tom Terry reaffirm the validity and vitality of the profession’s self-disciplinary process. (April 02, 2015)
Registration is now open for the 2015 Life and Health Qualifications Seminar, to be held Nov. 9-12 in Arlington, Va. See why so many of your peers find this seminar the most succinct and effective way to acquire the required basic education and continuing education to be qualified to sign NAIC annual statement actuarial opinions. This 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 but may not have met the basic education requirements set forth in Section 3.1.1 of the U.S. Qualification Standards (USQS). Register early: Seats are limited and will fill up quickly. (April 02, 2015)
In this month’s Actuarial Update, the Academy has premiered the enhanced website of the Actuarial Standards Board. The website now features interactive elements on ASB documents including ASOPs and exposure drafts, as well as an improved user-focused design. Also in this issue, read about the Health Practice Council's issue brief on the expansion of the definition of “small groups” under the Affordable Care Act; a webinar on how state and local pension plans became underfunded; Academy volunteers offer an actuarial perspective during visits to Capitol Hill; and more. (April 01, 2015)
The Risk Sharing Work Group submitted a letter to CMS with comments on the 2014 medical loss ratio (MLR) annual reporting form. (March 31, 2015)
In the Spring 2015 edition of Enrolled Actuaries Report, read about recent sweeping reforms to multiemployer pension plans that may affect millions of Americans; comment letters the Pension Committee sent to the IRS and the PBGC on mortality tables and late retirement actuarial equivalence, respectively; and more. (March 30, 2015)