The Robert J. Myers Public Service Award recognizes actuaries who have made an exceptional contribution to the common good. The Jarvis Farley Service Award is given to Academy members whose volunteer efforts on behalf of the Academy have made significant contributions to the advancement of the profession. And, the Award for Outstanding Volunteerism honors Academy volunteers who have made a single, noteworthy contribution above and beyond what is reasonably expected. (April 22, 2013)

The Academy sent a letter to the president and Congressional leaders today regarding the Military Compensation and Retirement Modernization Commission. The letter encourages them to appoint at least one qualified actuary to the newly-established commission. Appointing a qualified actuary would ensure that the commission has among its members an individual who can provide actuarial expertise on policy proposals, especially related to retirement programs. (April 22, 2013)

In a news release, the Academy said it recognizes the importance of the issues addressed by newly introduced Congressional legislation and offered its public policy resources to legislators, regulators and other stakeholders at the federal, state and local levels to assist them in understanding the nature of the risks related to the financial soundness of state and local government public pension benefit plans. (April 19, 2013)

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Join the Academy and the Society of Actuaries on June 4 to gain a better understanding of regulator perspectives on a variety of topics, including how actuaries can adapt to the new risk-focused exams, whether principle-based reserving (PBR) makes sense for small companies, and how the Own Risk and Solvency Assessment (ORSA) will evolve and help small companies. (April 19, 2013)

Academy President Cecil Bykerk responds with a letter to the editors of The Wall Street Journal to an April 10 op-ed, “The Pension Rate-of-Return Fantasy,” regarding pension funding and expected rates of return. (April 12, 2013)

As policy makers debate changes to Social Security and Medicare in the 2014 federal budget proposed by President Obama, the nation’s actuaries urge them to consider the impact of policy changes on the sustainability of these vital social-insurance programs. Social Security and Medicare are among the highest public policy priorities for the American Academy of Actuaries, in part because of their near-universal impact on U.S. retirees. Read the news release. (April 11, 2013)

The Academy's Individual Disability Table Work Group provided an update to the NAIC's Health Actuarial Task Force at the NAIC's Spring National Meeting highlighting progress on the individual disability table as well as indicating the specific tasks that lie ahead to finish the updated table.  (April 05, 2013)

Bob Yee, who chairs the Long-Term Care Valuation Work Group, provided a final recommendation at the NAIC's LTC Actuarial Working Group meeting regarding an LTC valuation table and determined that a table is not feasable at this time because of a lack of quality data.  (April 05, 2013)

The Medical Loss Ratio Work Group submitted comments to HHS on a proposed rule that requires issuers to offer a new type of individual health insurance policy covering contraceptive benefits. The comments focus only on the effect of the proposed rule on the MLR calculation. (March 28, 2013)

Cori Uccello, the Academy's senior health fellow, submitted suggested language on actuarial value to the NAIC's Consumer Information Subgroup for inclusion in a "frequently asked questions" document. (April 01, 2013)