This Week, September 2 – 6, 2024

MEMBERSHIP

Deadline Today—Call for Volunteers Survey

Today, Sept. 6, is the deadline for the annual Call for Volunteers survey, which offers a wide range of committee and short-term volunteer opportunities at the Academy, including curriculum development, peer review, public speaking, writing, and more. Participate today to make a significant impact and enrich our diverse community of thought leaders. Take the survey today.

Member-Selected Directors Selection Process Underway—Take Part Now

The process to choose member-selected directors for the Academy’s Board kicked off Wednesday and will run for two weeks through Sept. 18. Members should have received a Sept. 4 email from the Academy’s selection-process vendor Intelliscan. All members are encouraged to take part in the selection process. The candidates are Steve Armstrong, Stephen Koca, and Eric Keener—for more information, visit the Board Selection Center.

2024 Farley, Myers Award Recipients Announced

The Academy announced recipients of the annual Jarvis Farley Service Award and Robert J. Myers Public Service Award, which will be presented at Envision Tomorrow, the Academy’s 2024 annual meeting, next month in Washington, D.C.

• Al Bingham, a former Academy vice president of professionalism, will receive the Farley award—a lifetime achievement award that honors a member whose volunteer efforts on behalf of the Academy have made significant contributions to the advancement of the profession. Bingham served in numerous roles on the Board of Directors including health vice president—his leadership on Academy work during the passage of the Affordable Care Act was particularly noteworthy—and as professionalism vice president, helping to strengthen the standards that guide the profession’s work.

• Fred Andersen, chief life actuary of the Minnesota Department of Commerce, will receive the Myers award—recognizing a member who has made an exceptional contribution to the common good, either for a single noteworthy public service achievement or a career devoted to public service. He was selected for the exceptional leadership he demonstrated in addressing high-profile life insurance challenges in the development of critical actuarial guidelines for long-term care (Actuarial Guideline LI), index universal life products (AG XLIX), and private equity in life insurance (AG LIII). Andersen’s Academy volunteer service has also included contributions to the Actuarial Standard of Practice (ASOP) No. 18 Task Force and the Economic Scenario Implementation Work Group.

Coming soon—Look for upcoming coverage of this year’s Outstanding Volunteerism Award and Rising Actuary Award recipients.

EDUCATION & EVENTS

One Week Left—Register Early for Envision Tomorrow

There’s just one week left to get an early discount to Envision Tomorrow, the Academy’s annual meeting, taking place Oct. 15–16 in Washington, D.C. With an agenda packed with sessions and expert speakers, the Academy’s premier event provides attendees with insights on top public policy issues for the actuarial profession.

Expand your network with other actuarial professionals who share your interests and goals, and earn continuing education (CE) credit while hearing expert perspectives on the latest in artificial intelligence, self-regulation, and more. Recent Actuarially Sound blogs cover casualty, health, and risk management & financial reporting practice-area breakout sessions.

Get your early discount—register by next Friday, Sept. 13. The room block at the Grand Hyatt Washington is filling up—book your room today.

OUTREACH & NEWS

Contingencies Covers Reputational Risk

The September/October issue of Contingencies includes features on reputational risk and the challenges of parsing IFRS 17 statements, and the final installment in a six-part series on geoengineering. Also, Academy President Lisa Slotznick on self-regulation and reputational risk, an Up to Code article on ethical challenges—and Immediate Past President Ken Kent finds professionalism lessons on the pickleball court.

New Actuarially Sound blogs offer previews of Envision Tomorrow breakout sessions—casualty, health, and risk management & financial reporting. And, a post on National 401(k) Day (today, Sept. 6).

ICMYI: Actuarial Update, Actuary Voices

• In case you missed it, the August Actuarial Update covers three nominees for member-selected directors. Also in the issue, highlights from the NAIC Summer Meeting in Chicago, attended by Academy volunteers and staff who presented in multiple practice areas, and the Academy’s meeting recap.

• Also, a recent Actuary Voices “Election Clearinghouse” episode features former Casualty Vice President Rade Musulin, who discusses his career, this year’s hurricane season, and ways to mitigate the growing threat of climate-change-exacerbated extreme weather.

In the News

• Vice President of Retirement Jason Russell helped mark the 50th anniversary of the Employee Retirement Income Security Act with comments featured in Pensions & Investments’ anniversary-day coverage on Labor Day.

• A discussion of in-plan annuity options within defined contribution plans published by Retirement Income Journal cited analysis from the 2020 issue brief, Impact of the SECURE Act on Retirement Security.

• The Academy’s work outlining the potential consequences of waiting to address Social Security’s financial challenges was highlighted in a Newsweek article warning readers of possible future benefit cuts.

PROFESSIONALISM

ASB Kicks Off Fall Professionalism Outreach in Kansas City

The role and recent activities of the Actuarial Standards Board (ASB)—including recent ASOP developments—were in the spotlight at a Kansas City Actuarial Club professionalism session on Wednesday, expertly guided by former ASB Chairperson Rob Damler, who provided club members with an overview of the structure and major functions of the ASB, including the standards-setting process and recent ASOPs revisions. He also offered a detailed look at several foundational and cross-practice ASOPs, including ASOP No. 1, Introductory Standard of Practice; ASOP No. 41, Actuarial Communications; and ASOP No. 56, Modeling. Learn more about the ASB and its ongoing work via the ASB website.

• Looking for a Speaker?—The Academy’s Speakers Bureau provides qualified speakers on professionalism and public policy topics.

PUBLIC POLICY

Public Policy in Brief

• The Life Underwriting and Risk Classification Subcommittee submitted comments to the NAIC’s Special (EX) Committee on Race and Insurance Life Workstream on the July 17 Exposure of the Survey of Life Insurer Underwriting Guidelines as Applied to Justice Impacted Individuals.

Visit the Public Policy webpage to stay on top of the latest news and activity.

EVENTS CALENDAR

• Sept. 9–11 [Seminar] Casualty Loss Reserve Seminar; San Francisco (co-sponsored with CAS)

• Sept. 17 [Webinar] Rethinking the PBGC Premium Structure

• Sept. 27 [Professionalism Webinar] Actuarial Professionalism: It’s Important!

• Oct. 1 [Webinar] Exploring BIFSG From an Actuarial Perspective

• Oct. 15–16 [Annual Meeting] Envision Tomorrow 2024; Washington, D.C.

• Nov. 4–7 [Seminar] Life and Health Qualifications Seminar; Arlington, Va.

• Dec. 9–10 [Seminar] Seminar on Effective P/C Loss Reserve Opinions; New Orleans

Visit the Events Calendar for a complete listing of Academy events, including links to post-webinar slides and recordings.

Next Week—The Academy at CLRS

Academy volunteers and staff will be at next week’s Casualty Loss Reserve Seminar in San Francisco, co-sponsored with the Casualty Actuarial Society. The Casualty Practice Council’s Committee on Property and Liability Financial Reporting will also meet at CLRS. Please stop by the Academy’s booth if you’re there, and follow our feeds on X, Facebook, and LinkedIn for updates.