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Register to SAVE Now-Annual Meeting Early Registration Ends Next Week
 Don’t miss out on your early rate-early registration for the Academy’s Envision Tomorrow: 2022 Annual Meeting will end next week. In addition to high-profile general sessions on the economy, ethics, and professionalism, the two-day event, to be held Nov. 2-3 in Washington, D.C., will include practice-area breakout sessions in casualty, health, life, and pension. Expanded networking opportunities include two receptions; a Fun Run; and an evening bus ride showcasing the capital city’s monuments.
Save $200 by registering by next Thursday, Sept. 15. First-time attendee? Use the code ENVISION to save $100 more. Register today.
Answer the Call to Help Support the Academy’s Mission
The annual Call for Volunteers survey is now open. Our volunteers fulfill a crucial role in assisting the Academy in continuing to enrich, support, and strengthen the profession’s standards, conduct, and practice and provide essential professionalism resources for the entire U.S. actuarial profession. Academy volunteers are critical in developing vital, independent, nonpartisan, and objective public policy analysis to inform policymakers. Answer the call to indicate your interest in joining your colleagues in volunteering to support the mission to serve the U.S. actuarial profession and the public by taking the survey today.
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 the Academy’s Envision Tomorrow: 2022 Annual Meeting, Nov. 2-3 in Washington, D.C.
 Kathy Riley 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. Riley has served for 23 years of volunteer service in 25 different roles, including stints as vice president of professionalism; and on the Board of Directors; the Actuarial Standards Board (including as chairperson); and the Actuarial Board for Counseling and Discipline.
 Lawrence Johansen will receive the Myers award given to 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. Johansen performed exemplary actuarial work at the New York State Teachers’ Retirement System and the New Hampshire Retirement System, which went well beyond actuarial analysis and showed an enduring passion to serve others.
Watch this space for upcoming coverage of the Outstanding Volunteerism Award and new Rising Actuary Award recipients.
GASB Survey of Actuary Firms on Pension Standards
The Governmental Accounting Standards Board (GASB) is conducting a survey of actuary firms regarding its pension standards, primarily GASB Statement No. 67, Financial Reporting for Pension Plans, and No. 68, Accounting and Financial Reporting for Pensions. The survey is part of a GASB research effort that, in part, will help its board determine whether the statements are accomplishing their stated purpose, evaluate their implementation and continuing compliance costs and related benefits, and obtain feedback to improve standards-setting process. Because of the complexity of pension standards, the survey may take one to two hours to complete. The deadline for completing the survey is Oct. 7. Background information can be accessed here; to access the survey, click here.
Next Week-Webinars to Cover Pension, Life, Financial Reporting Issues
The Academy will host three webinars next week, offering valuable CE opportunities.
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“Discussion of Variable Annuity Plans Practice Note” will review the Variable Annuity Plans practice note published in 2019, relevant for private, multiemployer, and public defined benefit (DB) pension plans that contain variable annuities. This webinar is set for Tuesday, Sept. 13, from noon to 1:30 p.m. EDT-register today.
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“Application of ASU 2018-12 to the Accounting for Long-Duration Contracts Under U.S. GAAP: Part 1” is the first in a series of three webinars that will offer discussion around components of the recently exposed practice note, Application of ASU 2018-12 to the Accounting for Long-Duration Contracts under U.S. GAAP. The webinar is also on Sept. 13, from 12:30 to 2 p.m. EDT. Register now.
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“Fixed Annuity PBR Framework Updates” will offer the latest updates and developments for the future fixed annuity principle-based reserving framework (VM-22). Attendees will hear an overview of the proposed methodology, along with updates on regulatory discussions. This webinar will be on Wednesday, Sept. 14, from noon to 1:30 p.m. EDT. Register today.
Public Policy in Focus
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The Individual and Small Group Markets Committee and its Risk Sharing Subcommittee submitted a letter to the Center for Consumer Information and Insurance Oversight on cost-sharing reduction premium load factors.
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The Life Illustrations Work Group submitted a letter to the National Association of Insurance Commissioners’ Life Actuarial (A) Task Force and Indexed Universal Life (IUL) Illustration (A) Subgroup regarding the Aug. 15, 2022, Indexed Universal Life Exposure.
Visit the Public Policy page to stay on top of the latest news and activities.
In the News
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