The first precept of our Code of Professional Conduct requires us to act with integrity, honesty, and competence. The remaining precepts elaborate on this basic requirement in other areas, including standards of practice and communication. (July 31, 2020)
The July Actuarial Update highlights the upcoming online election of regular directors for the Academy’s Board of Directors, which will run from Aug. 21 through Sept. 4. Also in this issue: the Virtual PBR Boot Camp will be held Sept. 14–17; coverage of the July webinars on IFRS 17 contracts, as well as workers’ compensation and COVID-19; today, July 31, is the deadline for the Academy’s volunteer survey; the “Member Spotlight” does a Q&A with past Academy P/C Vice President Rade Musulin; and the “Professionalism Counts” column looks at “Disclosures: A Matter of Integrity, Honesty, and Competence.” (July 31, 2020)
The Summer HealthCheck includes a Q&A on the ASOP No. 6 public policy practice note released in late July. Also in the issue, a cross-practice Capitol Forum webinar on COVID-19 included health issues; another health webinar covered COVID-19 and 2021 rate filings; an online briefing for Capitol Hill staffers also covered COVID-19 and rate filings and risk mitigation mechanisms; health sessions are set for the Academy’s Annual Meeting & Public Policy Forum; and state and federal legislative and regulatory activity. (July 29, 2020)
The Pension Committee published a practice note, ASOP No. 51: Risk Assessment in Practice, providing information to actuaries on current or emerging practices affected by ASOP No. 51, Assessment and Disclosure of Risk Associated with Measuring Pension Obligations and Determining Pension Plan Contributions. (July 29, 2020)
The Academy's senior casualty fellow Rich Gibson submitted comments on the latest draft of the NAIC's proposed white paper on Regulatory Review of Predictive Models. (July 27, 2020)
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. (July 24, 2020)
The Variable Annuity Reserves and Capital Work Group released the VM-21 Checklist. This checklist provides a comprehensive guide to VM-21, which specifies requirements for principle-based reserves for variable annuity contracts. (July 23, 2020)
The Life Underwriting and Risk Classification Work Group sent a follow-up letter to the NAIC Accelerated Underwriting (A) Working Group on Actuarial Standards of Practice that were referenced in their June 18 presentation. (July 22, 2020)
The ASOP No. 6 Practice Note Work Group released an exposure draft, ASOP No. 6 - Development of Age-Specific Retiree Health Cost Assumptions for Pooled Health Plans, Including Applications to Non-Pooled Health Plans, to provide information for actuaries valuing retiree health benefit plans. Comments on the exposure draft are due to the Academy by September 30, 2020, and can be sent to Health@actuary.org. (July 21, 2020)
The Pension Committee, Multiemployer Plans Committee, and Public Plans Committee submitted comments to the Actuarial Standards Board regarding the second exposure draft of Actuarial Standard of Practice No. 4, Measuring Pension Obligations and Determining Pension Costs or Contributions. (July 20, 2020)
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. (July 17, 2020)
The Multiemployer Plans Committee published an issue brief about some of the considerations that go into the selection of actuarial assumptions for multiemployer plans. (July 16, 2020)
The Lifetime Income Risk Joint Committee released a new issue brief, Actuarial Perspectives on Determining a Retirement Income Budget. (July 13, 2020)
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. (July 10, 2020)
The Pension Practice Council published an issue brief detailing why the investment return assumption should be determined by the asset allocation, not the other way around. (July 06, 2020)
