Keeping You in the Know—Recent Academy Activity, Feb. 3–7, 2025
RECENT ACADEMY ACTIVITY | Feb. 3–7, 2025
This Week … In a Minute
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DUES REMINDER
Reminder—2025 Membership Dues
If you're receiving this version of This Week, the Academy does not have a record of receiving your 2025 MAAA dues, which were due on Jan. 1. Click here or log in now to pay your dues and continue your Academy member benefits and investment in the Academy's mission to serve the public and U.S. actuarial profession. Questions? Please contact the Membership Department at 202-223-8196 or via the online member support form.
TOP NEWS
The Record Recaps the Academy’s 2024 Accomplishments in Service to Members and the Public
The 2024 edition of The Record—the annual report to Academy membership and the public—recaps last year's strategic initiatives, our progress advancing professionalism and policy activities, and efforts to enhance member value with new benefits, along with the work of volunteers and staff in fulfilling the Academy's mission to serve the public and the U.S. actuarial profession. Highlights include the 2024 Election Year Issues Clearinghouse; Envision Tomorrow's public policy and professionalism sessions; requirements for new members that take effect in 2026; webinars, seminars, and other events to educate and engage members and stakeholders; and the Academy's resources and publications for actuaries in all practice areas and public stakeholders who rely on our critical work. Read The Record now.
Registration Open for NEW May ‘Insuring the Future’ Summit in NYC
Registration is open for “Insuring the Future,” the Academy's new Insurance Investment Summit coming to New York City in May. The inaugural event will bring together insurance investment professionals including actuaries, asset managers, and executives from the life, pension risk transfer, health, and property-casualty sectors. See the full agenda. The summit will be held on May 22–23. Register today.
MEMBERSHIP
Spread the Word: New Membership Requirements Webinar, Feb. 27—Calling all members to spread the word about an opportunity for your teams and prospective MAAAs to learn about the new member requirements.An informative New Membership Requirements Webinar will offer details on the Academy's Competency Framework and new membership requirements for new members that will take effect on Jan. 1, 2026. It will be held on Feb. 27—register today.
Volunteers—It's Time to Submit Annual COI/CE Acknowledgments
Volunteers and interested parties (IPs) serving on Academy boards, councils, committees, subcommittees, task forces, and work groups must submit their annual acknowledgment of the Academy's Conflict of Interest (COI) policy. Volunteers must additionally attest that they meet continuing education (CE) requirements of the U.S. Qualification Standards. Volunteers and IPs should look for instructions in the COI/CE being sent via email about how to submit acknowledgments. Volunteers can also log in and follow the appropriate link under “Volunteer Acknowledgments.” For more information, see Professional Objectivity at the Academy.
Volunteer feedback, training—The Academy is looking for any additional feedback and input from the Volunteer Surveys sent in January. (The deadlines have been extended to Feb. 28.) If you missed last month's volunteer training on our newest volunteer engagement technology, or would like to watch it again, click here and log into your member account.
Interested in volunteering?—For information on how to become an Academy volunteer, visit the volunteer webpage.
OUTREACH & NEWS
Contingencies Web Exclusive Looks at Economic Inequality A new Contingencies web exclusive, “The Betrayal of a Trust,” features a conversation with University of Virginia professor Justene Hill Edwards on her new book, Savings and Trust: The Rise and Betrayal of the Freedmen's Bank, which examines how a bank's rise and fall have influenced economic inequality in America and the importance of critical controls to guide organizations that serve and protect the public.
ICYMI—Actuarial Update, Retirement Report
In case you missed it:
The January Actuarial Update previews upcoming Academy CE opportunities. Also in the issue, the Academy attended and engaged with students at the Actuarial Students' National Association annual convention, and it's time for volunteers to submit their annual CE/COI attestations.
The Winter Retirement Report previews April's Hill visits and June's Future of Retirement symposium, notes Retirement Practice Council interactions with federal officials, and covers recent legislative and regulatory activity.
Actuary Voices Spotlights Academy Senior Fellows
The latest Actuary Voices episode features an interview with Academy Senior Fellows Rich Gibson (casualty), Cori Uccello (health), and Linda K. Stone (retirement), who outline the Academy's public priorities for the coming year.
EDUCATION & EVENTS
Next Week's Webinars Will Examine Research Initiatives, Long-Term Care & Retirement Issues
February will feature several CE opportunities, including:
Feb. 10—A research webinar, moderated by the Academy's Research Committee Chairperson Grace Lattyak, will explore three of the top submissions for last year's Academy Award for Research, including award recipient Doron Samuell. Last year's award focused on behavioral economics in insurance and retirement planning, with submissions related to the life, casualty, health, and retirement practice areas. Register today.
Feb. 13—A health webinar will feature Steve Schoonveld, a member of the Academy's Long-Term Care (LTC) Committee, who will lead a conversation with Connecticut's Assistant Deputy Commissioner of Insurance and other members of the Committee on the current and future state of LTC insurance. Register today.
Feb. 26—Later this month, a retirement webinar will include presenters from the Academy's Retirement Policy and Design Evaluation Committee, who will discuss collective defined contribution (CDC) plans, how policymakers may want to think about them as a future retirement tool, and the committee's recent publication on the topic. Register today.
PUBLIC POLICY
COPLFR Develops New FAQs Document on Wildfires Issues
A new frequently asked questions (FAQs) document, developed by the Academy's Committee on Property and Liability Financial Reporting (COPLFR), addresses relevant issues stemming from the recent Los Angeles wildfires during the current loss reserves opinion season. It offers a list of questions and associated responses for Appointed Actuaries' consideration when providing statements of actuarial opinion for companies materially impacted by such events, whether directly or indirectly. It is intended to assist Appointed Actuaries as they contend with uncertainties and challenges pertaining to disclosures in light of these events.
Public Policy in Brief
The Annuity Reserve and Capital Subcommitteeprovided comments to the Valuation Manual (VM)-22 (A) Subgroup on proposed edits to the Standard Projection Amount (SPA) Policyholder Behavior Assumptions.
The Financial Reporting Committee and Life GAAP Reporting Committee sent an agenda request letter to the Financial Accounting Standards Board (FASB) encouraging FASB to consider a project related to portfolio layer method (PLM) hedge accounting for liabilities.
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Any references to current laws, regulations, or practice guidelines are correct as of the date of publication.
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