The Academy’s Lifetime Income Risk Joint Task Force, composed of actuaries from the life and pension practice areas, has released its discussion paper, Risky Business: Living Longer Without Income for Life. The discussion paper focuses on the issue of ensuring retirees secure income that lasts their entire lifetime and discusses potential solutions through changes in education, plan design, and federal retirement policy. Read the news release. (June 19, 2013)

The PBR Strategy Subgroup submitted an additional comment letter to the NAIC Principle-Based Reserving Implementation (EX) Task Force on the May 9 drafts of the PBR legislative and educational briefs.    (June 11, 2013)

The Medicare Steering Committee updated its annual issue brief that offers an actuarial perspective on Medicare's financial condition and outlines the public policy options to address the program's long-term financial challenges. (June 12, 2013)

The CAS Climate Change Committee has issued a call for essays discussing the impact of climate change on the insurance industry. This follows the committee’s Climate Index Working Group’s (CIWG) release of its Phase 1 report, Determining the Impact of Climate Change on Insurance Risk and the Global Community. The CIWG is a collaborative endeavor comprised of representatives from the Academy, the CAS, the Canadian Institute of Actuaries, and the SOA. Essays are due July 17 and are expected to be published later this year. Click here to learn more and how to submit your essay. (June 07, 2013)

The Committee on Property & Liability Financial Reporting submitted comments on the proposed final regulations governing California’s workers’ compensation self-insurance plans. (June 07, 2013)

Solvency Committee comments to the NAIC on its revised version of a draft white paper, The U.S. National State-Based System of Insurance Financial Regulation and the Solvency Modernization Initiative. (June 06, 2013)

We want to know who you think deserves recognition! 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. And, the Award for Outstanding Volunteerism honors Academy volunteers who have made a single, noteworthy contribution above and beyond what is expected. The nominations for each of these awards are due July 8. (June 04, 2013)

The Pension Committee submitted comments to the Pension Benefit Guaranty Corporation (PBGC) regarding its proposed rule on reportable events under ERISA Section 4043. (June 03, 2013)

The Pension Finance Task Force submitted comments to the Actuarial Standards Board on revisions to ASOP No. 4, Measuring Pension Obligations and Determining Pension Plan Costs or Contributions. (May 31, 2013)

The Pension Committee submitted comments to the Actuarial Standards Board on revisions to ASOP No. 4, Measuring Pension Obligations and Determining Pension Plan Costs or Contributions. (May 31, 2013)