Calendar APRIL 4 Academy Social Insurance Committee meeting, Washington 8 Contingencies Editorial Advisory Board meeting, Washington 9 Academy Health Rate Filing Task Force meeting, Minneapolis 11 Academy Executive Committee meeting, Washington 18 ASB Pension Committee meeting, Washington 19 CIA pension seminar, Montreal 23 FASB 141/142 seminar, New York (Academy, SOA) 24 Academy Financial Reporting Committee meeting with AICPA, New York 25 Academy Financial Reporting Council meeting, New York 30 Academy Life Capital Adequacy Subcommittee meeting, Washington
MAY 5 Academy Pension Practice Council meeting, Savannah, Ga. 6 Academy Pension Committee meeting, Savannah, Ga. 5-8 ASPA business leadership conference, Lake Tahoe, Nev. 16 Academy Washington Forum, Washington 17 Academy Board of Directors meeting, Washington 20 Academy Council on Professionalism meeting, Detroit 21 Academy Casualty Practice Council meeting, San Diego 19-22 CAS spring meeting, San Diego 30-31 SOA spring meeting (life), Colorado Springs, Colo.
Academy NEWS Briefs And Now, the Numbers
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table on Page 93 of the 2002 Academy Yearbook shows Academy membership by employment category. The November 2001 data in that table were incorrectly sorted; among other things, they made it appear that there had been a sharp drop in the number of Academy members who are employed by governmental organizations. In fact, the number of government actuaries who are members of the Academy—an important constituency in light of the Academy’s public policy mission—continues to increase, a statistic of which we are very proud.
JUNE 5 Academy Life Practice Council meeting, Philadelphia 8-11 NAIC summer meeting, Philadelphia 18 ASB meeting, Washington 18 Academy Life Financial Reporting Committee meeting, Newark, N.J. 20-21 ASB Pension Committee meeting, San Francisco 24-26 SOA spring meeting (health, pension), San Francisco 25-26 SOA retirement issues symposium, San Francisco 26 Academy Health Rate Filing Task Force meeting, San Francisco 27-28 CIA annual meeting, Halifax, Canada
JULY 26 Academy Life Capital Adequacy Subcommittee meeting, Chicago 27-31 ASPA ssummer accademy, San Diego 28 Academy Pension Practice Council meeting, Santa Fe, N.M. 29 Academy Pension Committee meeting, Santa Fe, N.M.
SEPTEMBER 7-10 NAIC fall meeting, New Orleans 19-20 SOA valuation actuary symposium, Orlando, Fla.
19-20 CIA appointed actuary seminar, Toronto, Canada
PLANNING AHEAD? Bookmark the complete calendar at www.actuary.org/calend.htm.
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Actuarial U P D A T E
From left, Rep. Earl Pomeroy (D-N.D.) and Anna Rappaport at the Saver Summit.
Saver Summit Six Academy members were among 200 appointed delegates to the Labor Department’s 2002 National Summit on Retirement Savings, which ran from Feb. 27 to March 1 in Washington. Delegates included Robert Krinsky, chairman of The Segal Co. in New York; John Lounds, vice president of Allstate Life Insurance Co. in Northbrook, Ill.; Thomas Marra, president and CEO of The Hartford Life Insurance Cos. in Hartford, Conn.; Russell Mueller, director of health and retirement policy for Verner Liipfert Bernhard McPherson & Hand in Washington; Anna Rappaport, a member of the Academy’s Pension Practice Council and a consulting actuary with William M. Mercer Inc. in Chicago; and Larry Zimpleman, a former Academy president and executive vice president, pension, of Principal
April 2 0 0 2
Reflecting the dynamic nature of the Academy’s membership, the table below shows updated values as of March 6, 2002. Academy Membership by Employment TYPE OF BUSINESS
Insurance and related organizations Consulting practice Government Academic institutions Other Retired Unaffiliated Total
Financial Group in Des Moines, Iowa. Also appointed as delegates were Bridget Flynn, the Academy’s pension policy analyst; Brian Graff, executive director of ASPA; Mathew Greenwald, who conducted the SOA survey on attitudes to retirement risk recently released by the Academy (see Page 1); and Craig Hoffman, president of ASPA and a member of the Academy’s board of directors. ASB action At its March meeting, the ASB adopted two actuarial standards of practice (ASOPs). The new ASOP No. 41, Actuarial Communications, provides guidance to actuaries with respect to written, electronic, or oral actuarial communications. It supersedes the guidance previously found in Interpretative Opinion No. 3, Professional Communications of Actuaries. The ASB also adopted a revision of existing ASOP No. 17, Expert Testimony by Actuaries. It applies to actuaries who testify as actuarial experts at trial, in hearing or arbitration, in deposition, or by declaration or affidavit, but does not apply to actuaries providing litigation support other than the expert testimony itself. The new standards, and the
2001 (updated)
6,566 5,135 251 44 694 1,407 434 14,531
repeal of Interpretative Opinion No. 3, become effective July 15. To read the new standards, go to www.actuary.org/asb/asops.htm. Editorial changes Former Academy President Richard Robertson retired from the Contingencies Editorial Advisory Board in February. Taking his place on the board is Barbara Lautzenheiser, former Academy vice president for life insurance issues. Best job in the country Several Academy members were quoted in a St. Petersburg Times article on the growing demand for actuaries to help businesses weigh the risks of opportunities such as investing in emerging markets or expanding into e-commerce. They included Lijia Guo, director of the actuarial science program at the University of Central Florida in Orlando, Fla.; Rade Musulin, chairperson of the Academy’s Communications Review Committee and vice president and actuary for the Florida Farm Bureau Insurance Co. in Gainesville, Fla.; Michael Shackleford, a consultant for the gaming industry in Las Vegas, Nev.; and Steven Zoldos, president of Wakely Consulting Group in Clearwater, Fla.