David Traugott, Chairperson of the Academy's Property and Casualty Risk Based Capital (P/C RBC) Committee, presented an update on premium risk and Investment Income Adjustment to the NAIC's P/C RBC (E) Work Group. (October 25, 2021)
The Fall Casualty Quarterly covers the Casualty Practice Council’s recent work on cyber risk issues, including an August webinar and a Cyber Risk Toolkit. Also in the issue, a preview of Annual Meeting and Public Policy Forum P/C breakout sessions; Senior Casualty Fellow Rich Gibson is featured in a recent episode of the “Actuary Voices” podcast; the Academy presented at the Virtual Casualty Loss Reserve Seminar on the scalars research paper released earlier this year; and recent state and federal legislative and regulatory activity. (October 26, 2021)
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. (October 22, 2021)
The Retirement System Assessment and Policy Committee released an issue brief, Retirement Policy: Potential for Changing Roles of Employers in Retirement Programs, which considers aspects of “decoupling”—shifting retirement plan responsibilities and related liability to a third-party entity and away from employers. (October 22, 2021)
The Committee on Property and Liability Financial Reporting (COPLFR) sent an updated version of its comment letter to the National Association of Insurance Commissioners (NAIC) Blanks Working Group on proposed changes to P/C annual statements. Many of the Committee’s previous comments stand unchanged but were edited in response to the modified exposure draft. (October 21, 2021)
The Pension Committee, Multiemployer Plans Committee, and Public Plans Committee submitted comments to the Actuarial Standards Board regarding the third exposure draft of Actuarial Standard of Practice No. 4, Measuring Pension Obligations and Determining Pension Costs or Contributions. (October 18, 2021)
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. (October 15, 2021)
The Retirement System Assessment and Policy Committee published an issue brief examining issues pertaining to newer and novel plan designs as they relate to risk sharing between plan sponsors and participants. (October 15, 2021)
The Health Equity Work Group (HEWG) released a discussion brief, Health Equity from an Actuarial Perspective: Managing Population Health. This discussion brief is the final in the series developed by the HEWG to provide more context on issues raised in the initial discussion brief, Health Equity from an Actuarial Perspective: Questions to Explore. This series was undertaken by the HEWG to lay the groundwork for their future exploration and research into health disparities. (October 15, 2021)
The Summer/Fall issue of The Retirement Report looks at multiemployer plan issues that arose as part of the American Rescue Plan Act and the PPC’s August webinar on those issues, with a Q&A featuring several members of the Multiemployer Plans Committee. Also in the issue, a preview of the Annual Meeting and Public Policy Forum’s pension sessions, the new issue brief, The 80% Pension Funding Myth, Sherry Chan is set to become the Academy’s next pension vice president, and recent state and federal legislative and regulatory activity. (October 14, 2021)
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. (October 08, 2021)
The LTC Reform Subcommittee submitted a comment letter to the National Association of Insurance Commissioners (NAIC) Long-Term Care Insurance (EX) Task Force regarding the exposure drafts of the operational and actuarial sections of the Long-Term Care Insurance Multi-State Rate Review Framework released September 10 and September 15, 2021. (October 08, 2021)
The Life Financial Reporting Committee’s Market Risk Benefits Work Group published an exposure draft of a white paper, Considerations in Market Risk Benefits. The paper is exposed for public comment for 60 days, through Dec. 6. Comments may be submitted to lifeanalyst@actuary.org. (October 06, 2021)
The Pension Practice Council (PPC) published an issue brief, The 80% Pension Funding Myth, which addresses a persistent misconception that pension plan health or soundness can be determined solely by referencing a supposed 80% funded ratio “standard.” Read the news release. (October 06, 2021)
The Applicability Guidelines, updated after the Actuarial Standards Board issues a new or revised actuarial standard of practice (ASOP), are a useful tool to help determine which ASOPs may apply to an assignment. These guidelines have been updated for several recently revised ASOPs—Nos. 11, 27, 32, and 35. (September 30, 2021)
