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.

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.

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.

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.

As you progress through your career, you may be asked to provide actuarial services for new products, using new technologies or methods, and even in new areas of practice. How do you know if you are qualified to perform such work? The actuarial professionalism structure can help you determine whether you are qualified.