The July “Professionalism Counts” column, written by current members of the Committee on Qualifications, looks at the U.S. Qualification Standards 10 years after the current version came into effect in 2008. (Actuarial Update, July 2018)
With the fall 2017 data, the five-year moving average of the Actuaries Climate Index reached 1.19, a new record. The seasonal Actuaries Climate Index value increased to 2.00 in fall 2017, from the previous level of 1.59. Read the news release.
Academy Senior Health Fellow Cori Uccello commented on the final rule released today by the administration on short-term, limited-duration insurance. Uccello noted that higher Affordable Care Act premiums will result if younger and healthier individuals move away from ACA-compliant coverage and opt for STLDI. Read the news release.
Donna Claire, chairperson of the PBR Governance Work Group, provided an update on PBR adoption and Academy involvement to the Life Actuarial (A) Task Force.
The Pension Committee, the Public Plans Committee, and the Multiemployer Committee submitted a comment letter to the ASB on exposure drafts of proposed revisions to ASOPs 4, 27, and 35.
Laura Hanson, chairperson of the Life and Health Valuation Law Manual Task Force, gave an update on potential changes to the 2019 Manual.
The Multiemployer Plans Committee released notes from its meeting on Feb. 23, 2018 with officials of the Treasury and Labor departments, and Pension Benefit Guaranty Corporation to discuss applications by multiemployer pension plans in critical and declining status to suspend benefits or partition liabilities.
Members of the Reinsurance Work Group presented an update on reinsurance allocation to the Life Actuarial (A) Task Force.
Paul Navratil, chairperson of the Longevity Risk Task Force, presented an update on the Longevity Risk Survey to the Life Actuarial (A) Task Force.
John Miller and Matt Coleman, co-chairpersons of the Annuity Reserves Work Group, presented an update to the Life Actuarial (A) Task Force on their annuity exclusion test efforts.
