Keeping you in the know—the latest news from the Academy
RECENT ACADEMY ACTIVITY | Oct. 30 – Nov. 3, 2023
This Week … In a Minute
Have a minute? Catch up on the week’s top stories with the latest “This Week … In a Minute” video. Subscribe to our YouTube channel to receive alerts as they are released.
New Issue Brief Urges Action on Social Security Reform
A pension issue brief, Reforming Social Security Sooner Rather Than Later, looks at the options for shoring up Social Security’s solvency, noting that earlier reform action would allow for tax increases and/or benefit reductions to be phased in gradually and provide individuals more time to plan and adjust to the changes. It follows the Academy’s release earlier this year of the Social Security Challenge—an interactive tool that allows users to see how their reform choices would affect the program’s solvency.
“Acting now to address Social Security’s financial challenges would allow Congress to consider reform options that are more moderate, gradual, and give the American people time to adjust to any needed changes in benefits or taxes,” said Senior Pension Fellow Linda K. Stone. Read the Academy news release.
Hot off the press, the November/December issue of Contingencies profiles the second class of the twelve 2023 Rising Actuary Award recipients, who will be honored this month at Envision Tomorrow, the Academy’s Annual Meeting. Also in the issue, “Extreme Outcomes” examines the rise in extreme events being fueled by climate change, leading some insurers to reconsider underwriting those risks; “Security, Safely” offers a new metric for measuring the effectiveness, and relative safety, of a combined investment-and-annuity approach for retirement planning; and Ken Kent’s final President’s Message on why a diverse volunteer corps makes all the difference for the Academy.
The October Actuarial Update offers a last-minute primer on Envision Tomorrow, including the Digital Pass virtual registration option; an update from the Academy Board; engagement with stakeholders and educational groups at October events; and the “Professionalism Counts” column on a cornucopia of professionalism resources.
The Fall Retirement Report leads with a deep-dive Q&A on the Valuing Gender Expansive Data issue brief, which examines issues that pension actuaries might consider when performing actuarial valuations with data that is incomplete or non-binary. Also in the issue, a preview of Envision Tomorrow pension breakout sessions, and legislative and regulatory activity.
Need End of Year CE Credit? Act Now to Register for These Events
Registration Deadlines Next Week for Envision Tomorrow—In-person and virtual registration deadlines are next week for Envision Tomorrow, the Academy’s Annual Meeting being held Nov. 13–14 at the Omni Shoreham Hotel in Washington, D.C. A Digital Pass offers access to all general sessions and a curated selection of breakout sessions. The in-person registration deadline is Tuesday, Nov. 7, and the Digital Pass virtual registration deadline is Friday, Nov. 10. Register today.
Room Block Deadline Approaching for December’s P/C Loss Seminar—If you haven’t registered for the Seminar on Effective P/C Loss Reserve Opinions, make sure to register soon and to book your stay before the room block closes on Nov. 15. The annual seminar, to be held Dec. 4–5 in Charlotte, N.C., provides attendees with information about the latest regulations and standards to help gain an understanding of regulatory perspectives and expectations. See what’s new on the agenda this year—register now.
Webinar Spotlight: “Tales From the Dark Side 2023”—Hear directly from members of the Actuarial Board for Counseling and Discipline (ABCD) during this latest iteration of the popular “Tales from the Dark Side” professionalism webinar series. Presenters in the Dec. 19 webinar will explore examples of ethical problems based on cases and requests for guidance that have been brought before the ABCD. Register today.
Public Policy News in Brief
The Health Solvency Subcommittee’s Health Underwriting Risk Factors Analysis Work Groupsent a letter updating the NAIC’s Health Risk-Based Capital (E) Working Group (HRBC) on progress on the NAIC’s request to comprehensively review the H2—Underwriting Risk Component and the Managed Care Credit Calculation included in the HRBC formula.
The Committee on Property and Liability Financial Reportingsubmitted a comment letter to the Actuarial Standards Board on the second exposure draft of Actuarial Standard of Practice No. 36, Statements of Actuarial Opinion Regarding Property/Casualty Loss and Loss Adjustment Expense Reserves.
Visit the Events Calendar for a complete listing of Academy events, including links to post-webinar slides and recordings.
Next Week—What’s in Store:
The Academy at CAS—Planning to be at the Casualty Actuarial Society’s Annual Meeting next week in Los Angeles? Stop by the Academy’s booth for the latest on Academy activity, including publications and membership information. Click here for more on what the Academy is doing to engage and support casualty actuaries.
LHQ Seminar—Welcome to those attending next week’s sold-out Life and Health Qualifications Seminar at the Hyatt Regency Crystal City in Arlington, Va. The annual LHQ Seminar delivers three days of training and instruction, and an optional fourth-day exam. Attendees are encouraged to check in early, on Sunday evening from 6 to 8 p.m.
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