The Pension Committee submitted comments to the Actuarial Standards Board (ASB) on the third exposure draft of a proposed actuarial standard of practice (ASOP) on modeling.

The Academy is helping to promote and coordinate a collaborative Actuarial Challenge, being conducted by the Robert Wood Johnson Foundation in conjunction with Milliman Inc. The challenge is for actuaries to provide innovative ideas and proposals to increase stability in the individual health insurance market.

The C1 Work Group submitted comments to the NAIC's Investment Risk Based Capital Working Group on proposed RBC factors for fixed income securities for the NAIC’s life RBC formula.

The Pension Practice Council (PPC) released an issue brief that examines the Pension Benefit Guaranty Corporation’s (PBGC) multiemployer pension program, which could exhaust its assets in less than 10 years and be forced to cut benefits to retirees receiving PBGC support unless changes are made. 

The Solvency Committee submitted comments to the International Association of Insurance Supervisors (IAIS) on the Risk-based Global Insurance Capital Standard Version 1.0 public consultation document dated July 19, 2016.

Letter To Members regarding the composition of the Academy Board Of Directors.

To my fellow Academy members:
 
Earlier this year I asked the Academy’s Strategic Planning Committee to examine the composition of the Academy Board of Directors. The purpose was to determine what, if any, changes might be appropriate to better serve the interests of the Academy.
 

In a new department in Contingencies, Academy President Tom Wildsmith examines the infrastructure of actuarial professionalism, beginning with the Code of Professional Conduct. The Code is at the center of what Wildsmith terms a “web of professionalism”—the key elements that the Academy developed to support the U.S.

In the second of a four-part series, President Tom Wildsmith explores how the U.S. Qualification Standards have helped create and support the infrastructure of U.S. actuarial professionalism. (Contingencies, September/October 2016)