Public Policy News

The PBR Governance Work Group provided an update to the Life Actuarial (A) Task Force on the Academy’s involvement with principle-based reserves. (November 14, 2018)
The SVL Interest Rate Modernization Work Group provided an update to the Life Actuarial (A) Task Force on the modernizing the process of setting valuation interest rates for all non-variable annuities. (November 14, 2018)
The Annuity Reserves Work Group provided an update to the Life Actuarial (A) Task Force on their recommended changes to VM-22. (November 13, 2018)
The Reinsurance Work Group gave a presentation to the Life Actuarial (A) Task Force on potential issues relating to VM-20 Credit for Reinsurance.
(November 13, 2018)
Academy Past President Mary D. Miller sent comments to the NAIC on CASTF’s draft 3-year experience proposal.
(November 8, 2018)
The Academy released a research study, Estimating the Potential Health Care Savings of Reference Pricing, which explores the possibility of using reference pricing to address health care costs, and builds upon existing research by estimating the impact of expanding reference pricing to a broader set of health care services.
(November 1, 2018)
The Long-Term Care Past Losses Considerations Work Group has developed this issue brief to identify issues commonly raised in favor of and against recoupment of past losses in various situations. 
(October 31, 2018)
The Solvency Committee submitted comments to the International Association of Insurance Supervisors (IAIS) on the  Risk-based Global Insurance Capital Standard Version 2.0 (ICS 2.0) public consultation document dated July 31, 2018. (October 30, 2018)
The Solvency Committee submitted comments to the International Association of Insurance Supervisors (IAIS) on the Common Framework for the Supervision of Internationally Active Insurance Groups (ComFrame) public consultation document dated July 31, 2018. (October 19, 2018)
The Health Solvency Subcommittee sent comments to the NAIC's Health Risk-Based Capital (E) Working Group on the impact on Health Risk-Based Capital (HRBC) from the Tax Cuts and Jobs Act of 2017 (TCJA). (October 18, 2018)
The Annuity Illustration Work Group submitted a letter, consolidating their comments to the NAIC, on proposed changes to Annuity Disclosure Model Regulation #245.  (October 18, 2018)
The Life Reserves Work Group submitted a revised amendment proposal form to the NAIC on mortality experience assumptions and the selection of the industry basic table when company experience mortality rates are higher than the industry basic table.  (October 3, 2018)
The Intersector Group released the notes of its April 2018 meeting with the Pension Benefit Guaranty Corporation. (September 28, 2018)
The Multiemployer Plans Committee submitted a follow-up letter to the Joint Select Committee on Solvency of Multiemployer Pension Plans on key topics discussed during a June 22 meeting regarding loan proposals and other solutions for troubled multiemployer pension plans. (September 26, 2018)
The Pension Committee published a practice note covering topics related to the implementation of the spot rate approach to determining benefit obligations, service cost, and interest cost under accounting standards and other granular approaches. (September 24, 2018)
The Pension Committee released an exposure draft of practice note on current and emerging practices in the development of liabilities and cost estimates for pension plans with benefits paid as a lump sum. The comment deadline for this exposure draft is November 15, 2018. (September 21, 2018)
The Solvency Committee submitted comments to the NAIC's Group Capital Calculation (E) Working Group on scope and non-insurance testing. (September 20, 2018)
The Big Data Task Force submitted comments ahead of the U.S. Senate Committee on Banking, Housing, and Urban Affairs' hearing, Fintech: Examining Digitization, Data, and Technology. (September 17, 2018)
The Intersector Group released an Academy Alert highlighting time-sensitive information in advance of the publication of the notes from its April 4 meetings with the Internal Revenue Service (IRS) and the U.S. Department of the Treasury. The Intersector Group has chosen to release the following information now due to the time-sensitive nature for plan sponsors who are considering making contributions to defined benefit (DB) plans on Sept. 15. The full minutes of the group’s meeting with the IRS and Treasury will be published in the near future.
(September 14, 2018)
The Life Reserves Work Group submitted a revised amendment proposal form to the NAIC on the aggregation of mortality segments for the purpose of determining credibility.  (September 12, 2018)