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Academy Closed Monday for Juneteenth Holiday
The Academy’s office will be closed Monday, June 19, in observance of the Juneteenth federal holiday.
Darrell Knapp Nominated as Academy President-Elect
 Darrell Knapp was nominated to be the Academy’s next president-elect. Knapp, who is currently secretary/treasurer and a past director on the Academy Board, was chairperson of the Actuarial Standards Board (ASB) from 2021 to 2022 and served on the ASB for eight years, beginning in 2015. He has served on many Academy committees and task forces, including the Health Practice Council and the Risk Management and Financial Reporting Council, and has been instrumental in supporting the annual Life and Health Qualifications Seminar. An active Academy volunteer for more than 25 years, Knapp has also served as ASB liaison to multiple actuarial standard of practice (ASOP) task forces. Look for more coverage in the upcoming June Actuarial Update.
New Member Benefit-Claim and Share Your MAAA Digital Badge
 Academy members received notification from digital-badging firm Credly of a new member benefit-now you can easily showcase your achievement as an actuary. A digital badge with the MAAA designation allows you to publicly show your pride in being a member of an organization whose mission is to serve the public and the U.S. actuarial profession. The badge is a simple, trusted, quick, and easily verified way for employers, clients, and others to confirm your membership. You may add the digital badge to your social media and other profiles in a matter of minutes-Academy President-Elect Lisa Slotznick shared hers on LinkedIn, posting: “While I have been a member since 1988, I now have a badge recognizing my being a Member of the American Academy of Actuaries!” If you haven’t claimed your badge yet, check your email for the notification sent Wednesday from admin@credly.com. Don’t forget to tag the Academy when sharing your badge on your social media profiles so we can help celebrate your membership. Questions? See the FAQs page.
Next Week-Professionalism, Life, Health Webinars
Join the Academy for three continuing education (CE) opportunities next week:
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Need a refresher on the ASOPs? In the professionalism webinar, “ASOP Essentials: Communications, Modeling, Data Quality, and More,” ASB presenters, including Chairperson Rob Damler, will focus on ASOPs, including key points from ASOP Nos. 1, 23, 41, and 56. The webinar is June 22 from noon to 1:30 p.m. EDT.
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A health webinar, “Overview of CMS’ New Proposed Rules for Ensuring Access to Medicaid Services, and Managed Care Access, Finance, and Quality” will feature Centers for Medicare & Medicaid Services officials who will cover two recently released notices of proposed rulemaking, which may be of interest to actuaries who work with the Medicaid and Children’s Health Insurance Program (CHIP) programs. It’s set for June 20 from noon to 1 p.m. EDT.
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The latest installment in this year’s principle-based reserving (PBR) series continues with “PBR Bootcamp: Liability Assumption Development,” a life webinar to be held on June 21 from noon to 1:30 p.m. EDT.
Professionalism and Educational Outreach
 The Academy’s strategic outreach on professionalism issues continued Thursday, with Committee on Education member and Actuarial Board for Counseling and Discipline (ABCD) member Cande Olsen kicking off the education program of the Actuarial Society of Greater New York’s meeting in New York City with a professionalism general session. Olsen, who also previously served on the ASB, discussed “The ASOP Advantage,” exploring the many, perhaps-unexpected ways that ASOPs can benefit actuaries and be “allies” in their daily work and professional lives.
ICYMI-Up to Code on When to Say ‘No’
In case you missed the latest Up to Code in the May/June Contingencies, ABCD member William Hines explores when to say “no” in professional situations-even under constraints such as pressure from a principal, qualification or conflicts of issues, or in matters involving the Code of Professional Conduct.
Pension Committee Forming Plan Sponsorship Work Group
The Pension Committee is forming a work group to write an issue brief focusing on participant experience when benefits are transferred from a plan sponsor to an insurer. The committee welcomes members with direct experience in the interaction of the plan sponsor or insurer with participants during and after the annuity purchase transition. If interested, please email Pension Policy Analyst Philip Maguire at maguire@actuary.org.
Public Employment Opportunity
The South Carolina Department of Health and Human Services is seeking a health actuary to, among other responsibilities, oversee development, submission, and implementation of Medicaid reimbursement methodology policy into the South Carolina Medicaid State Plan. Candidates must be an Academy member and have credentials through the Society of Actuaries. For information and to apply, visit South Carolina’s jobs webpage.
The Academy has long supported government employers who are seeking to hire qualified actuaries. For more information, see our Public Employment Opportunity Posting Policy.
Public Policy in Focus
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The Pension Committee, Multiemployer Plans Committee, and Public Plans Committee submitted comments to the ASB regarding the exposure draft of the proposed revision of ASOP No. 27, Selection of Assumptions for Measuring Pension Obligations and the repeal of ASOP No. 35, Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations.
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The Committee on Property Liability and Financial Reporting submitted a comment letter to the IRS on an exposure on Micro-Captive Listed Transactions and Micro-Captive Transactions of Interest.
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The Life Experience Committee released Actuarial Review of Investments in Actuarial Modeling-A Resource & Discussion Guide, which aims to provide an overview of assets in actuarial modeling.
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The Life Reserves Work Group submitted a comment letter to the NAIC’s Life Actuarial (A) Task Force (LATF) on the extended April 20 exposure of APF 2023-06.
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ICYMI-The Climate Change Joint Committee released a glossary of various terms relating to climate change appearing in publications and presentations published by the Academy with the goal to familiarize actuaries with terms, clarify ambiguous interpretations, and more.
Visit the Public Policy webpage to stay on top of the latest news and activities.
Events Calendar
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[Webinar] June 20: “Overview of CMS’ New Proposed Rules for Ensuring Access to Medicaid Services, and Managed Care Access, Finance, and Quality“
Health
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[Webinar] June 21: “PBR Bootcamp: Liability Assumption Development“
Life
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[Webinar] June 22: “ASOP Essentials: Communications, Modeling, Data Quality, and More“
Professionalism
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[Webinar] June 28: “Insurance Fraud: Perspectives from the Market, Government, and Actuarial Profession“
P/C
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[Seminar] Sept. 11-13: Casualty Loss Reserve Seminar (CLRS)
Orlando, Fla. (Sponsored jointly by the Academy and CAS)
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[Seminar] Nov. 6-9: Life and Health Qualifications Seminar
Arlington, Va.
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[Annual Meeting] Nov. 13-14: Envision Tomorrow: Academy 2023 Annual Meeting
Washington, D.C.
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[Seminar] Dec. 4-5: Seminar on Effective P/C Loss Reserve Opinions
Charlotte, N.C.
Visit the Events Calendar for the latest updates to past and upcoming Academy offerings.
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