Article discussed the Academy's letter to Congress that included an actuarial analysis of the Community Living Assistance Services and Supports Act (CLASS Act) along with recommendations on improving this long-term care program provision.

Tom Campbell, the vice president of the Academy's Life Practice Council, was quoted after proposed revisions to the Standard Valuation Law were approved by two bodies of the National Association of Insurance Commissioners (NAIC). Campbell encouraged "the NAIC to adopt the proposed revisions without delay to establish greater uniformity of life insurance reserve requirements across states."

An analysis of the Community Living Assistance Services and Supports Act (CLASS Act) performed by a joint work group of the Academy's Federal Long-Term Care Task Force and the SOA's Long-Term Care Insurance Section Council was cited. The actuaries said the CLASS Act would require premiums that may exceed affordable levels for many people.

Former Congressional Budget Office Director Douglas Holtz-Eakin cited a recent actuarial analysis of the CLASS Act provision. The analysis was conducted by a joint work group of the Academy Federal Long-Term Care Task Force and the Society of Actuaries Long-Term Care Insurance Section Council.

The Academy was cited as a source of life expectancy statistics and estimated break-even age between those who file early for Social Security and those who choose to wait. Those who live beyond the break-even age will benefit more by choosing to wait to collect Social Security.

The Academy's Senior Pension Fellow Frank Todisco was the special guest on an Ohio retirement planning radio show. Todisco discussed various retirement security issues including risks associated with different retirement systems.

The Academy's support of proposed revisions to the Standard Valuation Law to establish a principle-based reserving approach was cited. The Academy has contended that the revisions will establish greater uniformity of life insurance reserve requirements across states.

The Academy's Senior Life Fellow Nancy Bennett said smokers pay higher life insurance premiums because of the increased risk of death.

Shari Westerfield, the Academy's chairperson of the Committee on State Health Issues, said that gender rating and other premium factors are needed to make a voluntary insurance system function.

Donna Claire, the chairperson of the Academy's Life Financial Soundness/Risk Management Committee, addressed calibration criteria following a discussion of scenario generators during a conference call with regulators.