The proposed ASOP provides guidance to actuaries when performing professional services with respect to risk evaluation systems, including designing, implementing, using, and reviewing those systems. Comments are due June 30, 2012. (April 03, 2012)
The Pension Accounting Committee and Public Plans Subcommittee submitted a joint letter to the Governmental Accounting Standards Board (GASB) in response to GASB's Preliminary Views on Economic Condition Reporting: Financial Projections. The letter addressed several of the questions posed to respondents in the Preliminary Views from an actuarial perspective with respect to pension and postretirement obligations. (April 02, 2012)
Nominations for three different Academy awards are open. The Jarvis Farley Service Award is given to an Academy member who has made an extraordinary contribution to the profession through long-time service as an Academy volunteer. The Robert J. Myers Public Service Award recognizes extraordinary contribution to the public good through service to the government or in the public sphere. And, initiated last year, are the annual Awards for Outstanding Volunteerism to honor Academy volunteers who have made a single, noteworthy contribution above and beyond what is reasonably expected. (April 20, 2012)
The Health Practice Council submitted a comment letter to the Center for Consumer Information and Insurance Oversight (CCIIO) providing responses to questions raised during a meeting with representatives of CCIIO on the structure of a proposed actuarial value calculator (for purposes of the ACA). The letter addresses cost-sharing inputs for the calculator, incorporation of induced demand, number of geographic pricing tiers, and incorporation of multiple network tiers. (April 02, 2012)
Read about the Academy’s recent activities in the latest edition of the Actuarial Update. (March 30, 2012)
Read about recent health care reform activities in the latest edition of HealthCheck. (March 28, 2012)
As the U.S. Supreme Court prepared to hear arguments on the issue of severability, the Academy reiterated its position that the guaranteed-issue and community-rating provisions should stand or fall with the individual mandate. (March 27, 2012)
The Academy’s Social Security Committee published a guide to analyzing Social Security reform proposals. Visit the Campaign 2012 Toolkit page for more information. (March 27, 2012)
The Medical Professional Liability Committee sent a letter to the leadership of the U.S. House of Representatives concerning H.R. 5, which would reform the medical professional liability system and repeal the Independent Payment Advisory Board. (March 23, 2012)
The Academy's Medical Professional Liability Insurance Committee published a fact sheet on the Death, Disability, and Retirement (DDR) Extended Reporting Endorsement. This is the third in a series of fact sheets published by the Committee designed for actuaries as well as the general public. (March 23, 2012)
Petitions for members to nominate a colleague or themselves for consideration as a candidate for Regular Director on the Academy Board of Directors are now available online at the Academy Board Election Center. Petitions are due by April 27. Read the March 22 member email for more details and links to additional information, including making nominations directly to the Nominating Committee. (March 22, 2012)
The Academy’s amicus brief on severability of the individual mandate from other provisions of the Affordable Care Act was cited in this week’s SCOTUS filing by the federal government (see pp. 8–9). The government brief referenced the Academy specifically. Given that more amicus briefs were filed in this matter than in any other in the history of the Supreme Court, and few were cited, that reference is a significant recognition of our credibility. (March 16, 2012)
The Academy presented to the National Conference of Insurance Legislators on its comments to the Federal Insurance Office regarding insurance modernization in the U.S. system. (February 24, 2012)
The Financial Reporting Committee responds to questions posed in FASB's Revenue Recognition paper. (March 13, 2012)
The Pension Committee submitted a letter to the Internal Revenue Service and Department of the Treasury concerning differing interpretations in the application of IRC Section 415(b) limits and requesting guidance. (January 30, 2012)
