Academy News

Membership dues notices have been emailed. Dues remain at the same level as 2011. “Your membership supports the valuable work of the Academy,” Academy President Dave Sandberg wrote in his message to members this week. Members can pay using the individual member link included in the dues notice email or by logging in to the members-only section of the Academy website. Membership dues are due by Jan. 1, 2012.
(November 18, 2011)

The November HealthCheck is available online. Read about the Supreme Court’s announcement that it will hear arguments related to the Affordable Care Act and the House Energy and Commerce Subcommittee’s vote to repeal the Community Living Assistance Services and Supports Act. (November 18, 2011)

President Dave Sandberg outlined his focus for the coming year in his first message to members. (November 11, 2011)

The Academy has received an announcement from the Inter-American Development Bank, which is looking for a pension actuary to assist the IDB with pension plan analysis. One of the qualification requirements is membership in the Academy. If interested, you may find more information here.
(November 04, 2011)

Check out the latest online issue of Contingencies, along with the supplement, Actuarial Software Now.  This issue features a series of articles on expanding long-term care options in a tight economy, as well as a portrait of David Graham Phillips, the muckraking journalist whose once-celebrated novel about financial shenanigans in the insurance industry is now largely forgotten. Articles in the supplement focus on topics such as numerical libraries, cluster-distance sampling, and high-performance computing. 

(November 01, 2011)

The Academy’s Life Practice Council will present a webinar on Nov. 22 to review the NAIC Fall 2011 National Meeting and progress on implementing the Principle-based Approach (PBA) to reserving. This 90-minute webinar also will include updates regarding the VM-20 impact study and NAIC developments on the Own Risk Solvency Assessment (ORSA). Click here to learn more. (October 31, 2011)

Read about the Obama administration’s decision to table the Community Living Assistance Services and Supports (CLASS) Act and the final rule issued by the Department of Health and Human Services relating to accountable care organizations and the implementation of the Medicare Shared Savings Program. (October 31, 2011)

Cecil Bykerk was elected by the Academy’s board of directors to the office of president-elect. The board also elected five officers. (October 28, 2011)

The Property/Casualty Loss Reserve Law Manual is designed to help appointed actuaries comply with the NAIC annual statement requirements for statements of actuarial opinion (SAO). It is updated annually and is scheduled to be published in November. Click here to learn what’s new for 2011 and to pre-order your copy!  (October 27, 2011)

The Academy honored five actuaries during the Academy’s annual meeting and awards luncheon. Michael Abroe received the Jarvis Farley Service Award, Mary Downey Miller received the Robert J. Myers Award for Public Service, and three inaugural Outstanding Volunteerism awards were presented to Steve Alpert, Arnold Dicke, and Stuart Mathewson. (October 24, 2011)

David Sandberg accepted the Academy’s presidential gavel during a transition ceremony at the Academy’s annual meeting and awards luncheon. His term begins on Oct. 28.  (October 24, 2011)

The Academy released a statement in response to a new report from the Department of Health and Human Services (HHS) regarding the Community Living Assistance Services and Supports (CLASS) program. 

(October 17, 2011)

In the fall Enrolled Actuaries Report, you’ll meet the Academy’s new senior pension fellow and learn about recently updated standards from the Financial Accounting Standards Board and proposed standards from the Governmental Accounting Standards Board. (October 17, 2011)

The Life Financial Reporting Committee has re-exposed the practice note, Optional Retrospective Application of ASU 2010-26 Acquisition Costs, for an additional two weeks. The deadline for comments is Oct. 28, 2011. (October 14, 2011)

The Academy hosted a jointly sponsored Capitol Hill briefing, Important New Research Findings Indicate a “Rising Tide” of Contributions Facing Defined Benefit Pensions, with the Society of Actuaries on Oct. 11 to present new research findings from the actuarial profession that illustrate a “rising tide” of pension funding challenges facing the private defined benefit system. Presenters discussed important implications for plan sponsors, beneficiaries, and policymakers.

 

(October 12, 2011)