The ASB has extended the comment deadline for the exposure draft of ASOP No. 11, Reinsurance Involving Life Insurance, Annuities, or Health Benefit Plans in Financial Reports, and the second exposure draft of ASOP No. 4, Measuring Pension Obligations and Determining Pension Plan Costs or Contributions. The extension of the comment deadlines is due to the current COVID-19 pandemic and its worldwide impact on normal business operations, which may have impeded individuals or organizations from submitting comments. The ASB received requests to extend the deadlines from a task force of the American Academy of Actuaries’ Life Practice Council via email and from the Pension Practice Council and several of its committee chairpersons via letter. The Pension Practice Council’s letter can be viewed here.
The new comment deadline for ASOP No. 11 is June 30 and for ASOP No. 4 is July 31. Both exposure drafts can be viewed here.