This Week, September 9 – 13, 2024

MEMBERSHIP

Take Part in the Member-Selected Directors Selection Process

There are only a few days left for Academy members to choose member-selected directors for the Academy’s Board of Directors. 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, which runs through next Wednesday, Sept. 18. The candidates are Steve Armstrong, Stephen Koca, and Eric Keener-for more information, visit the Board Selection Center.

2024 OVA Recipients Announced; Will Receive Awards at Envision Tomorrow

The Academy announced the four recipients of the 2024 Outstanding Volunteerism Award (OVA), recognizing volunteers who have performed conspicuously above and beyond reasonably expected duties and responsibilities of Academy volunteers. The OVAs will be presented at Envision Tomorrow next month in Washington, D.C., where you can still join the celebration of their accomplishment at the early registration rate through next week (related story below).

• Rhonda Ahrens will receive an OVA in recognition of her exceptional leadership and dedication in preparing Knowledge Statements related to the life appointed actuary and by leading her team through facilitating important discussions with regulators. Ahrens has also been a regular presenter at the Academy’s annual Life and Health Qualifications Seminar.

• Nancy Behrens was recognized for her leadership as chairperson of the Committee on Education, which has developed vital frameworks and outlines to create supplemental materials for future Academy members. She also played a key role in assisting the Membership Requirements Subcommittee in its crucial work in developing resources to support knowledge of U.S. laws and regulations, and forthcoming new Academy membership requirements.

• Michelle Iarkowski will receive an OVA for her dedication and extensive contributions as vice chairperson of the Committee on Property and Liability Financial Reporting (COPLFR), as a longtime faculty member for the P/C Loss Reserve Opinion Seminar, an active member of the Actuarial Standards Board’s Casualty Committee and its recent ASOP No. 36 Task Force, and for addressing key concerns with the NAIC in P/C reserving trends.

• Becky Sheppard will be recognized with an OVA for her service as co-chairperson of the Health Equity Committee. Her leadership in organizing impactful workshops and symposiums, co-leading the benefits design workstream, and representing the Academy in various health forums has been instrumental in advancing the Academy’s mission on health equity issues.

EDUCATION AND EVENTS

Early-Bird Deadline Extended-One Week Left to Get an Envision Tomorrow Discount

There’s just one week left to secure an early discount to Envision Tomorrow, the Academy’s annual meeting being held Oct. 15-16 in Washington, D.C. The Academy’s premier event provides attendees with insights on top public policy and professionalism issues for the actuarial profession.

Expand your network and earn continuing education (CE) credit while hearing expert perspectives on the latest in artificial intelligence, self-regulation, professionalism, and more. Recent Actuarially Sound blogs cover casualty, health, life, retirement, and risk management & financial reporting practice-area breakout sessions.

• Book your stay-The room block at the Grand Hyatt Washington is filling up-book your room now. A Digital Pass option featuring select sessions is also available.

Register by next Friday, Sept. 20, to get your early-bird registration rate-register today.

Upcoming CE Opportunities-Retirement, Professionalism

Join the Academy for these upcoming webinars in the next two weeks:

• Retirement-Rethinking the PBGC Premium Structure will offer an overview of Pension Benefit Guaranty Corporation (PBGC) premiums and feature presenters from the Retirement Practice Council and the Pension Committee. Up to 1.8 continuing professional education (CPE) noncore credits under the Joint Board for the Enrollment of Actuaries (JBEA) rules will be available for attending this live webinar next Tuesday, Sept. 17. Register today.

• Professionalism-Actuarial Professionalism: It’s Important! will feature three members of the Committee on Professional Responsibility discussing high-level professionalism issues as new areas of practice-and new technologies such as AI-emerge. It’s set for Sept. 27. Register today.

PUBLIC POLICY

Academy Presents at CLRS

Senior Director of Membership Kasha Shelton
talks with a CLRS attendee at the Academy’s booth

Academy volunteers and staff attended this week’s Casualty Loss Reserve Seminar in San Francisco, co-sponsored with the Casualty Actuarial Society. Volunteers presented in a wide range of CLRS sessions. Senior Casualty Fellow Rich Gibson moderated a well-attended session on property insurance and wildfires and earthquakes, in which Academy Past President Shawna Ackerman was a presenter. Gibson also moderated sessions on evolving technology and reserving-process implications, and on international capital standards with the NAIC’s Ned Tyrrell, Senior International Solvency Policy Advisor.

• COPLFR meeting-COPLFR also met at CLRS, discussing its 2024 P/C practice note, the P/C Law Manual, and December’s P/C Opinion Seminar.

Academy Attends ‘ERISA at 50′ Symposium & Gala

Academy Retirement Practice Council (RPC) members attended Thursday’s ERISA 50th Anniversary Symposium & Gala in Washington, D.C., marking this month’s 50th anniversary of the Employee Retirement Income Security Act of 1974. The Academy was part of the event’s Research Committee, with Senior Retirement Fellow Linda K. Stone being an active member. The RPC’s most recent ERISA-focused issue brief is included in the group’s Digital Research Journal.

Public Policy in Brief

• The Public Plans Committee released an issue brief, Public Pension Plans: Helping Members Evaluate Buyout Programs and Other Lump Sums, which offers critical information that would help members compare the value of an offered buyout-a lump sum payment in exchange for some or all of their pension benefits-to the value of the lifetime benefits.

• The P/C Extreme Events and Property Lines Committee submitted comments to the Federal Emergency Management Agency on its request for information on the redesign of the National Flood Insurance Program’s Community Rating System.

• The Life Underwriting and Risk Classification Subcommittee submitted additional comments to the Colorado Division of Insurance on the ACLI draft proposed quantitative testing regulation, Concerning Quantitative Testing of External Consumer Data and Information Sources, Algorithms, and Predictive Models Used for Life Insurance Underwriting for Unfairly Discriminatory Outcomes.

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

OUTREACH & NEWS

In the News

• An article on FedSmith, a news and information site for federal government employees, recommended the jointly sponsored Actuaries Longevity Illustrator to its readers.

• The U.S. Chamber of Commerce drew from the Academy’s recent issue brief on drivers of 2025 health premiums to help explain health insurance trends.

EVENTS CALENDAR

• 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.