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)
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. (March 27, 2015)
The Nonforfeiture Modernization Work Group presented an update on the group’s activities to the NAIC Life Actuarial (A) Task Force at the NAIC Spring 2015 National Meeting. (March 27, 2015)
Keith Passwater, chairperson of the Committee on Qualifications (COQ), presented to the NAIC Life Actuarial (A) Task Force (LATF), in response to the task force’s request for assistance with the question of certification for actuarial responsibility in principle-based reserving (PBR), and of continuing education (CE) requirements for PBR actuaries. The COQ carefully considered the U.S. Qualification Standards, and determined that those standards already address PBR qualifications, albeit in a generalized manner. The COQ report also cites reference materials to aid actuaries in keeping up with CE related to PBR. (March 27, 2015)
The American Academy of Actuaries and Society of Actuaries Joint Project Oversight Group gave a presentation to the NAIC Life Actuarial (A) Task Force on the development of the 2014 VBT tables, 2017 CSO tables, and PBR margins. (March 26, 2015)
Academy President Mary D. Miller presented “Risks to Property and Casualty Insurers” at the NAIC’s Center for Insurance Policy and Research (CIPR) event on pandemics. (March 27, 2015)
The Long-Term Care Terminations Work Group presented an update to the NAIC’s Long-Term Care Actuarial Working Group on progress made in developing a recommendation on LTC terminations and next steps. The Long-Term Care Principle-Based Work Group offered an update on developing a principle-based approach model and a timeline for completion, and the Long-Term Care Credibility Monograph Work Group presented its progress in drafting a monograph that addresses long-term care credibility. (March 27, 2015)
The Financial Regulatory Task Force sent comments to the Financial Stability Oversight Council (FSOC) on the impact of insurance asset management products and activities to U.S. financial stability. (March 23, 2015)
As this is the Academy’s 50th anniversary, now is an exceptional time to recognize another Academy member who may have been a colleague or mentor for their service to our profession. Each year the Academy honors members who devote themselves to the actuarial profession through their public service and volunteer efforts with our Robert J. Myers Public Service Award and Jarvis Farley Service Award, respectively. The awards will be presented at the Academy’s 50th anniversary celebration in November.
All members are invited to nominate Academy members for these, and also for our Outstanding Volunteerism Awards. Help us recognize those who have given so much to the profession today—learn more and submit your nomination(s) now. (March 20, 2015)
Because a number of actuaries have commented on the situation, we want to explain what happened with the Society of Actuaries’ March 18 webinar in which copyrighted material from the Academy was used. (March 20, 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. (March 20, 2015)
The Life Capital Adequacy Committee (LCAC) submitted comments to the NAIC Life Risk-Based Capital (E) Working Group regarding the latest exposure drafts related to the XXX/AXXX reinsurance framework. (March 20, 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. (March 13, 2015)
Donald Fuerst, senior pension fellow, submitted written testimony to the U.S. Senate Special Committee on Aging for its hearing on “Bridging the Gap: How Prepared are Americans for Retirement?” (March 13, 2015)
