Nominations are now open for the Academy's annual member awards. The Jarvis Farley Service Award is presented annually to an Academy member whose volunteer efforts on behalf of the Academy have made significant contributions to the advancement of the profession. The Robert J. Myers Public Service Award recognizes an actuary for a single noteworthy public service achievement or a career devoted to public service. The nominations for each of these awards are due July 3. (March 26, 2014)
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. Please submit your nomination to the Academys Nominating Committee via the online form. For more information on the Academy's nominating process, as well as the latest updates, please visit the 2014 Election home page. (April 03, 2014)
Read about the Academy's presence at the Spring NAIC Meeting, the Health Practice Council's visit to Congress on ACA implementation and the sustainability of Medicare, a message from Academy President Tom Terry, nominations for Academy Regular Directors and much more. (April 04, 2014)
The Life Financial Reporting Committee completed its draft of its Practice Note detailing practices on the purchase method of accounting on VOBA, goodwill and other intangible assets under Generally Accepted Accounting Principles commonly referred to as Purchase GAAP and is exposed for comment until June 2. (April 04, 2014)
The Contingent Annuity Issues Work Group responded to questions from the NAIC regarding the reserving and capital requirements for contingent annuities (March 21, 2014)
The Principle-Based Reserve Strategy Subgroup submitted comments on the exposed Feb. 17, 2014, Report of Rector & Associates, Inc. to the Principle-Based Reserving Implementation (EX) Task Force. (March 21, 2014)
The Academy has joined the National Retirement Planning Coalition, which is sponsoring National Retirement Planning Week® 2014 from April 7 to 11. “By stepping up to join the coalition and participate in National Retirement Planning Week, the Academy hopes to amplify its message that planning early and carefully for retirement security is essential,” said Academy President Tom Terry. Click here to read the news release. (April 03, 2014)
The C-1 Work Group gave a presentation at the NAIC Spring National Meeting to the Investment Risk-Based Capital Working Group on C-1 Factors for Corporate Bonds in the Life Risk-Based Capital Instructions. (March 29, 2014)
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 28, 2014)
The Nonforfeiture Modernization Work Group updated the NAIC Life Actuarial Task Force on the Gross Premium Nonforfeiture Method. (March 28, 2014)
The Actuarial Guideline 33 Non-elective Incidence Proposal Work Group presented the NAIC Life Actuarial Task Force with proposed language to AG 33 to address the non-elective incidence reserve issue. (March 28, 2014)
The NAIC Life Actuarial Task Force adopted a Life Reserves Work Group amendment proposal to VM-20 regarding treatment of due premiums in reserve calculation. (March 27, 2014)
The Life Experience Subcommittee presented an update to the NAIC Life Actuarial Task Force on mortality development of the 2014 Commissioners Standard Ordinary table, the 2014 Valuation Basic Table, and margins under VM-20 for determination of Prudent Estimate Mortality. (March 27, 2014)
The Medicare Supplement Work Group presented an update to the NAIC's Health Actuarial Task Force on the progress of a review of the Medicare supplement review and a list of next steps. (March 28, 2014)
