ASB News

13
Apr
0

ASB Response to Pension Practice Council on ASOP No. 56 Effective Date Extension Request

Category: ASB News
The ASB has discussed the Oct. 1, 2020 effective for ASOP No. 56, Modeling. In light of the importance of this standard, the Board believes that there is sufficient lead time between now and the effective date of the ASOP and that an extension of the effective date is not now in the best interest o ...
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1
Apr
0

ASB Extends Comment Deadlines for ASOP Nos. 11 and 4

Category: ASB News
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 Contribut ...
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12
Mar
0

ASB Releases 2019 Annual Report

Category: ASB News
The ASB released its 2019 Annual Report. In 2019, the ASB had another banner year in standards-setting, adopting two new ASOPs, approving eight exposure drafts for comment, approving a proposal to revise one existing ASOP, and issuing one Request for Input on an ASOP on rate filings. In addition, ...
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27
Jan
0

ASB Approves Second Exposure Draft of ASOP No. 4

Category: ASB News, Pension Committee News
The ASB approved a second exposure draft of a proposed revision of Actuarial Standard of Practice (ASOP) No. 4, Measuring Pension Obligations and Determining Pension Plan Costs or Contributions.The ASOP provides guidance to actuaries when performing actuarial services with respect to measuring oblig ...
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17
Jan
0

ASB Adopts ASOP No. 56

Category: ASB News
The ASB adopted ASOP No. 56, Modeling. The ASOP provides guidance to actuaries when performing actuarial services with respect to designing, developing, selecting, modifying, using, reviewing, or evaluating models. Notable changes made to the fourth exposure draft include deleting the section on mar ...
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23
Dec
0

ASB Boxscore, December 2019: ASB Adopts ASOP No. 56, Approves ASOP No. 4 Second Exposure, and Reviews ASOP Nos. 22 and 28

Category: ASB News
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17
Dec
0

ASB Approves Exposure Draft of ASOP No. 11 Revision; Second Exposure Draft of ASOP No. 32 Revision

Category: ASB News, Life Committee News, Health Committee News
The ASB recently approved an exposure draft of a proposed revision of ASOP No. 11, now titled Reinsurance Involving Life Insurance, Annuities, or Health Benefit Plans in Financial Reports, and a second exposure draft of a proposed revision of ASOP No. 32, Social Insurance.ASOP No. 11, which was fir ...
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28
Oct
0

ASB Boxscore, October 2019: ASB Reviews Proposed Revisions of ASOP Nos. 11, 28, and 32; New Members, Chair Appointments Announced

Category: ASB News
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24
Oct
0

ASB Issues Request for Input on a Proposed ASOP Related to Property/Casualty Rate Filings

Category: ASB News, Casualty Committee News
The ASB has issued a Request for Input concerning the development of an actuarial standard of practice (ASOP) that would address the actuarial aspects of property/casualty rate filings submitted to state insurance departments. The proposed standard would provide guidance to actuaries regarding the a ...
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1
Jul
0

ASB Approves Second Exposure Drafts of Revisions of ASOP Nos. 27 and 35

Category: ASB News, Pension Committee News
The ASB recently approved second exposure drafts of revisions of Actuarial Standard of Practice (ASOP) Nos. 27, Selection of Economic Assumptions for Measuring Pension Obligations; and 35, Selection of Demographic and Other Noneconomic Assumptions for Measuring Pension Obligations. The first exposur ...
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The Actuarial Standards Board (ASB) sets standards for appropriate actuarial practice in the United States through the development and promulgation of Actuarial Standards of Practice (ASOPs). These ASOPs describe the procedures an actuary should follow when performing actuarial services and identify what the actuary should disclose when communicating the results of those services.

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