The Bermuda Ministry of Economy and Labour has renewed the expedited Actuarial Work Permit process for one year, from 1 August 2023 to 31 July 2024. The initiative has been in place since mid-2022 in response to the ongoing,...more
On February 24th, the NAIC Life Insurance and Annuity (A) Committee (A Committee) adopted amendments to Actuarial Guideline (AG) 49-A to address a concern raised by state insurance regulators regarding the use of...more
On August 15th, the NAIC’s Life Actuarial (A) Task Force (LATF) re-exposed for comment four options to address a concern raised by state insurance regulators regarding the use of illustrations for indexed universal...more
Years ago, as a naïve associate at a semi-prestigious law firm, I got the short end of the stick to attend a quarterly Taft-Hartley meeting in Staten Island. If you ever have to drive from Long Island to Staten Island, you...more
Compliance Today (July 2020) - The FAQ, released April 24, gives insight into the effects the pandemic will have on Medicaid and Medicaid managed care organizations. The document addresses six questions...more
On 24 October 2019, the Financial Reporting Council (the "FRC"), the regulatory body for auditors, accountants and actuaries, published the UK Stewardship Code 2020 (the "Code"). In its press release, the FRC states that the...more
Years ago, as a naïve associate at a semi-prestigious law firm (sorry Lois), I got the short end of the stick to attend a quarterly Taft-Hartley meeting in Staten Island for a multi-employer plan. If you ever have to drive...more
When talking to a prospective client that deals with professional services or have deep pockets, it’s always worth a consideration on whether a cash balance is a good idea. When coupled with a safe harbor 401(k) and new...more
Since the passage of the Tax Cuts and Jobs Act, business owners and tax practitioners alike have focused on the potential effect of Section 199A. Though it has been clear for some time that the 20% deduction afforded to...more
At this writing, the prospects for success of the latest Republican effort to replace the Affordable Care Act appear bleak — but the Graham-Cassidy bill on which the GOP has pinned its last-ditch hopes highlights a major...more
A recent report from the nation’s top actuaries takes a sobering look at the challenges policy makers face in creating a viable individual (i.e., non-group) health insurance market—a critical component of any plan to replace...more
On September 21, 2015, the United States District Court for the District of Columbia ruled that the Secretary of the U.S. Department of Health and Human Services (HHS) failed to provide a meaningful opportunity to comment on...more
In a dispute involving an earlier arbitration ordering American United Life Insurance Company (“AUL”) to make a commutation payment to The Travelers Indemnity, the parties filed cross petitions for arbitration pursuant to...more