When President Obama talks about avoiding sequesters and reducing federal budget deficits during his State of the Union tonight, the American Academy of Actuaries believes he should refocus on reforming major direct-spending programs. The business-as-usual trade-offs that result from budget battles could do far more harm than good if it pits decisions on sustaining Medicare, Medicaid and Social Security for future generations against discretionary spending growth and tax reform. Read the news release. (February 12, 2013)
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. (February 08, 2013)
The Health Solvency Work Group submitted a letter to the NAIC's Health Risk-Based Capital Working Group giving the work group's analysis of possible risks caused by the Affordable Care Act as it relates to health risk-based capital. (February 08, 2013)
The Deposit Fund Subgroup submitted its proposal for reserving synthetic GICs based upon the report presented to the Life Actuarial Task Force on November 28, 2012. ()
The Pension Committee sent comments to the Internal Revenue Service regarding its recent guidance related to notice requirements under section 101(j) of ERISA for funding-related benefit limitations in single-employer defined benefit pension plans. (February 05, 2013)
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. (February 01, 2013)
The Academy offered a heartfelt thank you to Richard S. Foster, who is retiring this week as Centers for Medicare & Medicaid Services (CMS) chief actuary after a long and distinguished career in public service. Through his 18 years at CMS and previous 13 years as deputy chief actuary of the Social Security Administration, Foster devoted his entire actuarial career to improving the financial status of the nation’s most important social insurance programs — Medicare, Medicaid, and Social Security. Read the news release. (February 01, 2013)
Members are invited to nominate themselves or others for consideration as an Academy regular director by submitting names directly to the Academy’s Nominating Committee. (February 06, 2013)
Every year, Academy members who serve on Academy boards, councils, committees, subcommittees, task forces, and work groups, must acknowledge the existing conflict of interest (COI) policy and attest to compliance with the continuing education (CE) requirements of the U.S. Qualification Standards. To comply, click on the special link in the email you received yesterday from “American Academy of Actuaries [coi@actuary.org]” or reply as instructed in that email. You also may log in to the members-only page, and follow instructions there. (February 01, 2013)
The Academy/SOA's Cancer Claims Cost Tables Work Group submitted a letter to the NAIC's Health Actuarial Task Force that updated the progress of the valuation table and the work it expects to do over the next six months. (February 01, 2013)
The ORSA Subgroup submitted changes to the NAIC on its December 2012 draft, Guidance Manual for the Own Risk and Solvency Assessment, and included information on actuaries who are involved in enterprise risk management. (January 31, 2013)
Annuity Illustration Subgroup comments to the Iowa Insurance Division on its December 12, 2012 draft memorandum regarding annuity illustrations. (January 25, 2013)
Read the top priorities for the year as developed by each of the Academy’s practice councils as well as a look back at key legislative and regulatory developments from 2012, all in the latest issue of the Update (January 31, 2013)
Read about recent health care reform activities in the latest edition of HealthCheck. (January 30, 2013)
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. (January 25, 2013)
