Practice Notes

Life Principle-Based Approach Practice Note Work Group practice note to assist actuaries with the implementation of the principle-based life reserve valuation approach adopted by the NAIC as detailed in the Requirements for Principle-Based Reserves for Life ProductsVM-20. (May 18, 2017)
Credit for Reinsurance Subgroup exposure draft of a new practice note, Credit for Life Reinsurance in U.S. Statutory Financial Statements. (May 5, 2017)
Principle-Based Reserve (PBR) Model Governance Practice Note Work Group practice note, Model Governance, providing additional information for practicing life actuaries seeking to better understand models, model risks, model governance, and related issues, as these actuaries implement PBR.
(April 20, 2017)
Committee on Property and Liability Financial Reporting Statements of Actuarial Opinion on P/C Loss Reserves practice note. (December 27, 2016)
Risk Exposures Subgroup practice note on quantifying risk Exposures for Own Risk and Solvency Assessment (ORSA) reports. (June 27, 2016)
Pension Committee exposure draft of practice note on current and emerging practices in the selection of investment return assumptions based on anticipated future experience. The comment deadline for this practice note is June 27, 2016. (April 26, 2016)
ERM/ORSA Committee exposure draft of a new practice note, Quantifying Risk Exposures for Own Risk and Solvency Assessment Reports. (March 7, 2016)
Committee on Property and Liability Financial Reporting Statements of Actuarial Opinion on P/C Loss Reserves practice note. (December 22, 2015)
Pension Committee exposure draft of practice note for measuring obligations of defined benefit pension plans that include variable annuity benefits. (December 11, 2015)
Premium Review Work Group practice note on Actuarial Practices Relating to Preparing, Reviewing, and Commenting on Rate Filings Prepared in Accordance with the Affordable Care Act, providing information on general rate filing requirements and considerations related to the URRT adn actuarial memorandum. (December 3, 2015)
Addendum to Illustrations Work Group’s practice note, Actuarial Standard of Practice No. 24: Compliance with the NAIC Life Insurance Illustrations Model Regulation, to reflect the recently adopted Actuarial Guideline 49. (August 28, 2015)
Pension Committee's practice note, “Selecting and Documenting Mortality Assumptions for Pensions,” revised to reflect a new mortality improvement scale (BB) published by the Retirement Plans Experience Committee (RPEC) of the Society of Actuaries in 2012, mortality table RP-2014, and mortality improvement scale MP-2014 published by the Society of Actuaries in 2014.  (June 15, 2015)
Profits Followed by Losses Subgroup practice note on accounting for profits followed by losses in long-duration contracts. (June 10, 2015)
Committee on Property and Liability Financial Reporting 2014 Practice Note on Statements of Actuarial Opinion on P/C Loss Reserves. (December 30, 2014)
Exposure draft of a new practice note related to rate filings, review, and disclosure under the Affordable Care Act for calendar year 2015 and beyond. Comments on the exposure draft should be submitted by Oct. 27. (October 26, 2014)
Life Financial Reporting Committee practice note detailing practices on the treatment of value of business acquired (VOBA), goodwill, and other intangible assets under the purchase method of accounting of Generally Accepted Accounting Principles, or PGAAP. (October 15, 2014)
Financial Reporting Committee exposure draft of a new practice note on profits followed by losses in long-duration contracts. Comments on the exposure draft are due Nov. 10. (October 10, 2014)
Asset Adequacy Analysis Committee practice note exposure draft on current practices in asset adequacy analysis and testing. Exposed for comment until Oct.6. (August 21, 2014)
Practice note by the Minimum Value Practice Note Work Group on the calculation of minimum value and actuarial value under the Affordable Care Act (ACA), which includes a discussion of plan designs not accommodated by the calculators. (April 24, 2014)
Practice note detailing practices on the purchase method of accounting on VOBA, goodwill and other intangible assets under Generally Accepted Accounting Principles commonly referred to as Purchase GAAP.  Exposed for comment until June 2.
(April 4, 2014)