MEMBERSHIP

Final Reminder—Award Nominations Due TODAY

Today, June 7, is the deadline to submit nominations for the Academy’s annual service and recognition awards. Recipients of the Jarvis Farley Service Award, Robert J. Myers Public Service Award, Outstanding Volunteerism Awards, and Rising Actuary Awards will be recognized at Envision Tomorrow, the Academy’s annual meeting in October. For more information and to nominate, visit actuary.org/awards.

EDUCATION & EVENTS

‘ERISA at 50’ Symposium Covers Key Retirement Issues

Gomez addresses the symposium

The Academy hosted a symposium Tuesday, part of this year’s “ERISA at 50” series marking the 50th anniversary of the Employee Retirement Income Security Act of 1974. It featured retirement experts and actuaries who offered different perspectives on the landmark law, including Retirement Vice President Jason Russell, Pension Committee Chairperson Grace Lattyak, and Senior Retirement Fellow Linda K. Stone, who each moderated sessions. The featured speaker was U.S. Employee Benefits Security Administration Assistant Secretary Lisa Gomez, who highlighted the current administration’s priorities in this area. Look for more coverage in the upcoming Retirement Report. The series will continue through the fall, with additional webinars and published materials, including an issue brief that will focus on the impact ERISA has had on health insurance. For more information, visit the ERISA at 50 webpage.

Registration Open for Envision Tomorrow—‘Exploring a World of Risk’

Registration is open for Envision Tomorrow, the Academy’s annual meeting, which will be held Oct. 15–16 at the Grand Hyatt Washington in the nation’s capital with the theme “Exploring a World of Risk.” On the agenda this year: an opening keynote by Former NATO Supreme Allied Commander Gen. Wesley Clark on leadership, global risks, and the U.S. political landscape, and a discussion on “Growing Financial Inclusion” led by financial and insurance inclusion researcher Leroy Nunery II. More information is on the Academy website—register today.

PBR Bootcamp Next Week in Philly

The Academy is looking forward to seeing attendees at next week’s PBR Bootcamp, in Philadelphia June 11–13. There’s still room to attend—see the full agenda for the popular event that will cover key principle-based reserving (PBR) topics for life actuaries.

Health Webinar Examines NBPP Rule

Wednesday’s health webinar examined the 2025 Notice of Benefit and Payment Parameters (NBPP) rule, released recently by the Centers for Medicare & Medicaid Services (CMS). Rogelyn McLean, senior adviser in CMS’ Center for Consumer Information and Insurance Oversight (CCIIO), led a group of CCIIO presenters. Academy Senior Health Policy Analyst Matthew Williams moderated the conversation. Slides and audio are available free, as an Academy member benefit.

PROFESSIONALISM

ABCD Webinar Examines Case Studies

Olsen and Beer prepare for Monday’s webinar

Actuarial Board for Counseling and Discipline (ABCD) Vice Chairperson Al Beer and member Cande Olsen presented in Monday’s professionalism webinar, ABCD Requests for Guidance—Insight and Case Studies, in which they examined case studies and answered questions on the Code of Professional Conduct, actuarial standards of practice (ASOPs), and the U.S. Qualification Standards (USQS). Slides and audio are available free as a member benefit.

OUTREACH & NEWS

COQ Presents on U.S. Qualification Standards

Committee on Qualifications (COQ) member Laurel Kastrup presented “The USQS FAQs: An Introduction to a Valuable Resource,” during the professionalism session at the Actuaries’ Club of the Southwest’s meeting in Dallas on Thursday. Kastrup covered the USQS’ integral role in the professionalism infrastructure housed in the Academy and discussed how the USQS FAQs developed by the COQ provide answers to common questions. She also addressed statements of actuarial opinion, basic education and experience, and practice areas, and pointed the audience to the “Which CE Requirements Apply to Me?” infographic for understanding continuing education (CE) requirements.

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

ASB Boxscore Highlights Recently Adopted ASOPs

The Spring/Summer ASB Boxscore highlights several revisions of ASOPs adopted by the Actuarial Standards Board (ASB), including ASOP Nos. 27, 28, 29, 36, and 40; an approval of a third exposure draft of a proposed revision of ASOP No. 24; and projects discussed at this week’s ASB meeting, including a second exposure draft of a proposed revision of ASOP No. 41.

Actuarially Sound Covers Start of Hurricane Season

The latest Actuarially Sound blog post covers the start of the 2024 hurricane season and its effect on property/casualty insurers.

 In the News

• Plan Adviser and Pensions & Investments reported on this week’s “ERISA at 50” Academy symposium.

• InsuranceNewsNet reported on the recent webinar, Medicare’s Financial Outlook and the Effects of Growing Enrollment in Medicare Advantage.

• InsuranceNewsNet also reported on the Academy’s comment letter to the NAIC’s Life Actuarial Task Force on reinsurance issues.

PUBLIC POLICY

Retirement Practice Council Visits Federal Agencies

RPC volunteers at CBO Wednesday

Retirement Practice Council (RPC) volunteers, along with Senior Retirement Fellow Linda K. Stone, visited government agencies—the Congressional Research Service, Congressional Budget Office, and Government Accountability Office—on Monday and Wednesday, sharing recent RPC work products, learning about agency priorities and upcoming projects, and discussing timely issues in the retirement and Social Security areas.

Public Policy in Brief

• The Prudential Regulation Committee sent a comment letter to the NAIC’s Capital Adequacy (E) Task Force on the exposure draft of Risk-Based Capital Preamble, 2024-16-CA.

• The ERM/ORSA Committee submitted comments to the ASB regarding the proposed revision of ASOP No. 7, Analysis of Life, Health, or Property/Casualty Insurance Cash Flow Risk.

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

CALENDAR

• June 10 [Webinar] Speed-to-Market NAIC Presentation

• June 11–13 [Seminar] PBR Bootcamp; Philadelphia

• July 11 [Webinar] Machine Learning Usage Survey Analysis

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

• 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.

ICYMI—Actuarial Update Covers President-Elect Nominee Tricia Matson

In case you missed it, the May Actuarial Update covers Tricia Matson’s nomination to be the Academy’s next president-elect. Matson, a longtime Academy volunteer and a past ASB chairperson who has served in many Academy roles, will become president-elect at Envision Tomorrow in October. Also, the Academy Board adopted a core values statement.