The Medicare Committee released an issue brief focusing on the near and long-term financing challenges facing the Medicare program based on the 2023 Medicare Trustees Report. (April 13, 2023)
The Life Valuation Committee submitted a comment letter to the National Association of Insurance Commissioners' Life Actuarial (A) Task Force (LATF) on the Valuation of Securities (VOS) Task Force’s referral to LATF on Bond Risk Measures. (April 13, 2023)
The Long-term Care Reform Subcommittee sent a comment letter to the National Association of Insurance Commissioners (NAIC) Long-Term Care Actuarial (B) Working Group featuring an Academy issue brief, Long-Term Care Insurance: Considerations for Treatment of Past Losses in Rate Increase Requests (October 2018), in response to a working group concern about the lack of a consistent definition of “past losses” in the context of recoupment. (April 11, 2023)
The Social Security Committee submitted an open letter to Congress introducing the Social Security Challenge, a web-based interactive simulation intended to inform, stimulate, and advance the public dialogue on Social Security solvency and the need for reform. (April 05, 2023)
The Actuarial Standards Board and the Actuarial Board for Counseling and Discipline released their annual reports, which offer highlights of 2022 activities of the two entities housed within the Academy. (March 31, 2023)
The Social Security Committee sent a letter to Members of Congress offering insights on the Social Security Challenge. (March 30, 2023)
The Life Practice Council (LPC) presented on current and future LPC workstreams to the NAIC’s Life Actuarial (A) Task Force (LATF) meeting as part of the NAIC Spring National Meeting in Louisville, Ky. (March 24, 2023)
Intersector Group notes from January 2023 conference call with Department of the Treasury and Internal Revenue Service. (March 24, 2023)
Intersector Group notes from January 2023 conference call with Pension Benefit Guaranty Corporation. (March 24, 2023)
Academy Health Vice President Barb Klever provided an update on Health Practice Council activities to the NAIC’s Health Actuarial (B) Task Force (HATF) at NAIC’s 2023 Spring National Meeting. (March 21, 2023)
The Actuarial Standards Board released its 2022 Annual Report, which highlights the board’s accomplishments throughout the year. In 2022, the ASB adopted two revised ASOPs, approved seven exposure drafts for comment, and approved proposals to revise three existing ASOPs. (March 22, 2023)
Ronald Wilkins, vice chairperson of the Property and Casualty Risk-Based Capital (P/C RBC) Committee, presented preliminary results to NAIC's Property and Casualty Risk-Based Capital (E) Working Group to recalibrate the reserve and premium risk charges—notably, for investment income. (March 22, 2023)
Casualty Practice Council (CPC) Vice Chairperson Dee Dee Mays and Committee on Property and Liability Financial Reporting (COPLFR) Chairperson Stephen Koca presented to the NAIC’s Casualty Actuarial and Statistical (C) Task Force (CASTF) on behalf of the CPC and COPLFR on recent publications and future work products expected for release in 2023. (March 07, 2023)
The Academy has released an Essential Elements paper based on the Social Security Committee’s March 2022 issue brief Raising the Social Security Retirement Age.
The retirement age is a key consideration in addressing Social Security’s long-term financial health.
Essential Elements is a series of concise and informative papers developed by the Academy, designed to provide a quick and easy-to-understand overview of key public policy issues of interest. (March 21, 2023)
Academy member Sam Gutterman presented on behalf of the Academy to the National Conference of Insurance Legislators’ (NCOIL) Spring Meeting in San Diego. He presented as part of NCOIL’s Special Environmental, Social, and Governance (ESG) Series on an “Introduction to ESG and Environmental Aspects: An Actuarial Perspective.” (March 10, 2023)
