In recent years, the Actuarial Standards Board (ASB) approved a number of proposals to revise actuarial standards of practice (ASOPs). Now, after countless hours of dedicated work by the task forces, committees, and the ASB itself—and valuable input from many of you—final versions of these ASOPs are emerging. During the past few months, the ASB has adopted five revised ASOPs—here’s a look at them.

The Retirement Policy and Design Evaluation Committee released a policy paper, Improving Retirement Outcomes: Demographic Considerations, which discusses retirement inequities and how current retirement plan design elements and policies may inadvertently disadvantage certain cohorts of individuals. In tandem with the paper, the committee released a high-level executive summary.

The Health Equity Committee presented at the 2024 SOA Health Meeting on “Improving Data Analysis Using a Health Equity Lens.” The session explored the intersection of health equity and data, including stakeholder perspectives and a Medicaid-focused case study.

The Health Practice Council’s Active Benefits Committee and Individual and Small Group Markets Committee responded to the U.S. Senate Committee on Health, Education, Labor and Pensions’ (HELP) request for information regarding portable benefits for self-employed workers and other individuals in nontraditional working arrangements.

Members of the Climate Change Joint Committee presented at the SOA Health Conference. The session explored various climate equity-related considerations for actuaries, including an introduction to the range of equity issues that climate change and the increasing frequency of climatic events may pose to actuaries.

The Prudential Regulation Committee submitted comments to the International Association of Insurance Supervisors (IAIS) on its public consultation on climate risk supervisory guidance – ICP guidance and supporting material.