The Non-Guaranteed Elements Work Group submitted a comment letter outlining their proposal for a NAIC life insurance online guide landing page.
Long-Term Care Valuations Work Group chairperson, Warren Jones, presented an update to the NAIC's Long-Term Care Actuarial Working Group on the progress of the groups activities.
The Retirement System Assessment and Policy Committee submitted a comment letter to Congress on the Retirement Enhancement and Savings Act of 2018.
The Academy’s election vendor, Intelliscan, has provided the official results of the online and mailed votes cast by eligible members on two proposed changes to the Academy Bylaws. Proposal 1, a change recommended by the Academy Board of Directors, won a majority of votes but not the two-thirds supermajority required to be incorporated into our bylaws. Proposal 2, initiated by petition, was decisively voted down with 57.99 percent of votes against it.
The SVL Interest Rate Modernization Work Group provided an update to the Life Actuarial (A) Task Force on the modernizing the process of setting valuation interest rates for all non-variable annuities.
The PBR Governance Work Group provided an update to the Life Actuarial (A) Task Force on the Academy’s involvement with principle-based reserves.
The Reinsurance Work Group gave a presentation to the Life Actuarial (A) Task Force on potential issues relating to VM-20 Credit for Reinsurance.
The Annuity Reserves Work Group provided an update to the Life Actuarial (A) Task Force on their recommended changes to VM-22.
