Public Policy Papers

The Academy released the monograph, Big Data and the Role of the Actuary, at the International Congress of Actuaries meeting in Berlin on June 5. The monograph examines how Big Data is providing actuaries in more practice areas with powerful new analytical tools and opportunities to lead Big Data projects, Academy Immediate Past President and Big Data Task Force Chairperson Bob Beuerlein told ICA attendees.  (June 5, 2018)
Tax Work Group paper on frequently asked questions about concepts of life insurance tax reserve methods and assumptions.  (May 9, 2018)
Academy Essential Elements paper on lifetime income, highlighting the challenges that workers face in planning for the risk that they may live longer in retirement than expected, and outlining public policy approaches to help future retirees secure and manage their lifetime income. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences.
(April 12, 2018)
Academy Essential Elements paper on the tax treatment of pensions and insurance protections, and the potential public policy trade-offs of changes to the tax code. Essential Elements is a series designed to make actuarial analyses of public policy issues clearer to general audiences.
(November 13, 2017)
Academy Position Statement on support for policy and educational initiatives to increase retirement income options within employer-sponsored defined contribution (DC) plans. (October 31, 2017)
Flood Insurance Work Group monograph on the National Flood Insurance Program (NFIP) that examines key issues surrounding the NFIP, including rising sea levels, the differences between the NFIP and private-sector insurance, and its role in flood management and recovery after catastrophic events. (April 19, 2017)
Individual and Small Group Markets Committee issue paper examining the experience in the Affordable Care Act (ACA) individual market, outlining the conditions necessary for a sustainable market, examining whether these conditions are currently being met, and discussing the implications of potential changes to improve the ACA market rules or replace ACA with an alternative approach. (January 18, 2017)
Financial Reporting Committee white paper on Considerations in Implementing the FASB Short-Duration Contract Disclosures. (December 9, 2016)
The Principle-Based Reserves Checklist Subgroup of the Model Governance Work Group released a model governance checklist, which is offered as a resource for practicing life actuaries involved in actuarial model governance. (December 1, 2016)
Subcommittee Issue Paper on ACA Risk Adjustment Program
Risk Sharing Subcommittee issue paper that reviews the first year of experience under the Affordable Care Act’s (ACA) risk adjustment program with focus on experience in the individual market. (April 12, 2016)
Financial Reporting Committee exposure draft of a new white paper on Challenges and Issues Implementing the FASB Short-Duration Contract Disclosures. Comments on the exposure draft are due Mar. 15. (February 17, 2016)
ERM/ORSA Committee overview on the role of regulatory actuaries in reviewing Own Risk and Solvency Assessment (ORSA) reports.   (February 1, 2016)
Cancer Claims Cost Tables Work Group presentation to the NAIC's Health Actuarial Task Force on the progress of the valuation table and expected next steps. (August 14, 2015)
Public Interest Committee paper providing a common framework for discussion on sustainability of U.S. financial security programs, including Social Security, Medicare, and other types of insurance. Sustainability in American Financial Security Programs describes sustainability and related factors for policymakers, actuaries, and others for use when examining and proposing reforms of these programs. (June 24, 2015)
Life Practice Council brief and FAQ supporting the adoption of the NAIC model Standard Valuation Law and Principle-Based Reserves. (January 15, 2015)
Committee on Property & Liability Financial Reporting (COPLFR) overview providing information on effective use of actuarial loss reserves expertise by audit committees and boards. (December 10, 2014)
South Dakota Retirement System assessment produced by the Forward Thinking Task Force using the AGES framework, based on fundamental principles illustrating the strengths and shortcomings of retirement systems and proposals to reform them. (November 13, 2014)
USA Retirement Funds assessment produced by the Forward Thinking Task Force using the AGES framework, based on fundamental principles illustrating the strengths and shortcomings of retirement systems and proposals to reform them. (November 13, 2014)
New Brunswick Shared Risk Model assessment produced by the Forward Thinking Task Force using the AGES framework, based on fundamental principles illustrating the strengths and shortcomings of retirement systems and proposals to reform them. (November 13, 2014)
Traditional Defined Benefit Plan Under Current System assessment produced by the Forward Thinking Task Force using the AGES framework, based on fundamental principles illustrating the strengths and shortcomings of retirement systems and proposals to reform them.
(November 13, 2014)
Safe Harbor Defined Contribution Plan Under Current System assessment produced by the Forward Thinking Task Force using the AGES framework, based on fundamental principles illustrating the strengths and shortcomings of retirement systems and proposals to reform them.
(November 13, 2014)
Medicare Supplement Work Group report to the NAIC on recommendations for potential modifications to the Medicare Supplement refund formula.  (November 12, 2014)
ERM/ORSA Committee overview of the key content of an Own Risk and Solvency Assessment (ORSA) and the components of an ORSA for which actuarial input may be useful. (September 26, 2014)
Medical Professional Liability Insurance Committee fact sheet on medical professional liability exposures. (June 6, 2014)
Report by AOM Discussion Group on ideas to improve the communication of issues within the appointed actuary’s memorandum. 
(March 19, 2014)