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The Consulting Actuary The Journal of the Conference of Consulting Actuaries Volume XXIII, Number 2 August 2011 TM C o n s u l t i n g A c t u a r i e s C o n f e r e n c e o f ADVANCING THE PRACTICE CONTINUING EDUCATION OFFERINGS CONFERENCE NEWS

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Page 1: The Consulting Actuary XXIII 2 · 2015-01-28 · benefit plan services. Steve practices in many areas, including: actuarial valuations of qualified and nonqualified defined benefit

The Consulting ActuaryThe Journal of the Conference of Consulting ActuariesVolume XXIII, Number 2 August 2011

TMConsulting ActuariesConference of

AdvAncing the PrActice continuing educAtion offerings

conference news

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2 | The Consulting Actuary | Volume XXIII, Number 2

The Consulting Actuary

Published byThe Conference of Consulting ActuariesAdam J. Reese | PresidentDale H. Yamamoto | President-ElectRita K. DeGraaf | Executive Director

Douglas C. Borton | EditorRichard S. Navarro | Art Direction

Letters, comments and contributions to The Consulting Actuary are welcome. All contributions are the property of the Conference of Consulting Actuaries. The Conference reserves the right to use either excerpts from the contribution or the contribution in its entirety.

These works reflect the views of the authors and do not necessarily represent the position of the Conference. Neither the Conference nor its officers, members or staff assume responsibility or liability for the accuracy of information contained herein, nor the appropriateness of its use with specific clients. Each actuary is advised to make an independent judgment regarding the content and use of this information.

Authors’ names will be used unless otherwise requested. Correspondence may be submitted anonymously, however, it is helpful to include your name even if you indicate that you do not want it to be used. Please address correspondence to:

The Consulting ActuaryConference of Consulting Actuaries3880 Salem Lake Drive, Ste. HLong Grove, IL 60047-5292

© 2011 Conference of Consulting ActuariesAll Rights Reserved

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Volume XXIII, Number2 | The Consulting Actuary | 3

continuing educAtion offerings

conference news

Conference Breaking NewsDale H. Yamamoto New CCA President-Elect

In a special meeting of the CCA Board of Directors on Friday, July 22, 2011, CCA’s Vice President of Practice Areas, Dale Yamamoto was nominated and approved as CCA President-Elect, effective August 5, 2011, following the close of the August Executive Committee meeting.

Dale fills the unexpired term of Donald Fuerst, who heads to Washington D.C. as the new senior pension fellow for the American Academy of Actuaries. Don will represent the U.S. actuarial profession on retirement security issues, a position that required him to voluntarily recuse himself from concurrent service on the CCA Board.

“With complex public policy implications of retirement security and challenges facing both private sector and governmental pension plans, the profession will be well served by Don in his new role as the Senior Pension Fellow at the Academy,” commented CCA President Adam Reese. Adam also added, “Good luck Don! And I look forward to working closely with Dale in his new position as President-Elect.”

Dale is the founder and President of Red Quill Consulting, Inc. and has over 30 years of experience in providing employers with actuarial and strategic consulting to support their employee benefit programs. He has testified before Congress on the topic of healthcare and Medicare reform, and in 2010 he spearheaded efforts to address the actuarial implications of healthcare reform legislation in a three-part audiocast series jointly sponsored by the Conference of Consulting Actuaries and Society of Actuaries, and co-sponsored by the American Academy of Actuaries.

Dale has and continues to serve the CCA in many capacities. Currently, he is Chair of the Seminar Committee, and is a member of the Budget and Finance Committee and Healthcare Reform Steering Committee.

Congratulations Dale and Don.

CCA and Conference Members Working to Expand Teen Financial Literacy

In partnership with the Actuarial Foundation, the Conference is contributing to a member matching gift program which introduces the essentials of personal finance to high school students.

Since I announced the program at our 2010 Annual Meeting, the Conference has matched your generous donations providing classroom sets of the Building Your Future financial literacy curriculum to 48 teachers. These teachers impact scores of students each year.

Through the Conference Matching Gift Program, all Conference member donations are matched, dollar for dollar, up to the $15,000/year cap approved by the Board of Directors for 2011. Your donation can be of any amount, or you can choose to

donate a full classroom set to a high school of your choosing. View the waiting list of schools at http://www.actuarialfoundation.org/pdf/schools-requesting-byf.pdf. All donations are 100% tax-deductible.

I encourage you to double your impact and help expand financial literacy and make your CCA matched donation today. For details visit: http://www.actuarialfoundation.org/donate/cca.shtml

A Message From CCA President Adam Reese

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4 | The Consulting Actuary | Volume XXIII, Number 2

The Conference of Consulting Actuaries is pleased to announce The 2011 Annual Meeting, Sunday, October 23 to Wednesday, October 26, at the JW Marriott Las Vegas Resort & Spa

The Annual Meeting Registration Brochure includes information on the educational sessions, meeting and hotel registration, an overview of the schedule of events and information on seminars following the meeting.

• Register Now • Meeting Schedule & Session Descriptions • Hotel & Travel Information • Registration Information • Special Activities • General Information • Post-Meeting Seminars (“Future of Retirement” and “Healthcare for Pension Actuaries”)

The Registration and Session Preference Form allows you to:

1. Register for the meeting; 2. Register accompanying persons for the accompanying persons program; 3. Reserve space in sessions; 4. Register guests for Monday’s luncheon (see the registration form for details about the Academy Annual Meeting and Awards Luncheon); and 5. Register for seminars following the meeting.

The Monday Evening Gala Event is included as part of meeting attendee and accompanying person registrations. Travel arrangements and hotel reservations are to be made by the individual attendees. Hotel reservations confirmed with a deposit by September 21, 2011 qualify for the CCA meeting room rate. Reservations after this date are subject to availability and may not qualify for the CCA meeting’s room rate.

If you have any questions, contact the CCA office at (847) 719-6500.

The JW Marriott Las Vegas Resort is a wonderful place for this unique educational experience. Mark your calendar and I’ll see you in October!

Sincerely,

Nadine H. Orloff, Secretary

MEETING HIGHLIGHTS SOCIAL SECURITY AND HEALTHCARE REFORM WITH KEYNOTE SPEAKER SUSAN DENTZER

Monday’s General Session covers healthcare with one of the nation’s foremost experts,Susan Dentzer, editor-in-chief of Health Affairs. She is also an on-air correspondent with PBS NewsHour, where she

leads an award-winning unit dedicated to providing in-depth coverage of healthcare, health policy and Social Security. 2011 AMERICAN ACADEMY OF ACTUARIES ANNUAL MEETING AND AWARDS LUNCHEON• Special keynote speaker Nate Silver • Myers and Farley award presentations• Academy presidential transition

The Academy Annual Meeting keynote speaker, Nate Silver is a statistician, psephologist, and writer. He is renowned for applying statistics to evaluating baseball player performance, prognosticating

election results, and evaluating public opinion on political issues.

Academy members planning on only attending the Academy Annual Meeting and Luncheon may do so without purchasing a full meeting registration. See the registration website or form for details.

THE MONDAY EVENING GALAClosethefirstfulldayofsessionsatthepremiernetworking and social event of the meeting, in a casual setting of natural beauty.

TUESDAY AFTERNOON NETWORKING FORUMSPublic Plans 2:30 - 3:30 PMHealthcare Reform 2:30 - 3:30 PMSmall Firms 3:45 - 5:00 PM

Anyone interested is invited to stop by, meet, and discuss issues, news, and outlooks.

TUESDAY EVENING BRIDGE NIGHTCCA President Adam Reese hosts a special get together for cards and camaraderie.

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Volume XXIII, Number2 | The Consulting Actuary | 5

continuing educAtion offerings

conference news

Welcome CONAC to CCA Audiocast Co-sponsorshipAt its June 2011 meeting, the CCA Board approved the addition of CONAC to the roster of CCA Audiocast sponsoring organizations. CONAC, the Mexican National College of Actuaries (Colegio Nacional de Actuarios), is the accrediting and regulatory body for actuaries practicing in Mexico.

CONAC now joins the American Academy of Actuaries and the Canadian Institute of Actuaries in CCA Audiocast co-sponsorship, in recognition of our high-quality continuing education opportunities. As a CCA member you can take advantage of these opportunities at the lowest possible member rate.

Upcoming CCA AudiocastsAssumption Process September 14, 201112:30 PM – 1:45 PM EDTRegister Now

Join us for a lively discussion on the issues raised by the ASOP 27 exposure draft, the comments received from the actuarial community, and how that might influence the year-end process and the interaction between actuaries and auditors.

Stephen N. Eisenstein, FCA, EA, MAAA, FSA is the Director, Actuarial and Defined Benefit Services for Newport Retirement Services, Inc. He leads all aspects of Newport’s actuarial valuation, defined benefit administration, and other defined benefit plan services.

Steve practices in many areas, including: actuarial valuations of qualified and nonqualified defined benefit pension plans and health and welfare programs, defined benefit administration, defined benefit and defined contribution plan design and compliance, and preparation of income statement expense and footnote disclosure information under U.S. GAAP and International Financial Reporting Standards. Steve serves clients in financial services, manufacturing, telecommunications, entertainment, utilities, energy, and other industries.

Stephen A. Alpert, FCA, EA, MAAA, FSA, MSPA is a Principal and member of Mercer’s Compliance and Professional Standards Group. He also serves in the firm’s Actuarial Resource Network and Global Accounting Standards Group, where he works with consultants worldwide on retirement plan accounting issues, pension plan design and financial risk management. He currently chairs the American Academy of Actuaries’ Pension Accounting Committee and is a member of its Pension Practice Council, Financial Reporting Committee and Public Interest Committee.

Audiocast Facts September 14, 2011 12:30 PM – 1:45 PM EDTCredits*

EA Core: 1.5 EA Core/Ethics: 1.0EA Non-Core: 0 EA Formal: 1.5+

CPD Credit 1.5

PresentersStephen N. Eisenstein, FCA, EA, MAAA, FSA; Stephen A. Alpert, FCA, EA, MAAA, FSA, MSPA

Intended Audience:Employee benefit actuaries looking for a greater understanding of the audit process.

*EA credits are subject to final approval by the Joint Board for the Enrollment of Actuaries. +Under the revised JBEA requirements, groups of three or more participants who are engaged in substantive pension service and are in the same physical location throughout the entire presentation may participate in a formal program in person, via the Internet, videoconferencing, or teleconferencing. CPD credits earned under the Qualification Standards are suggested. However, each actuary has theresponsibility to make a reasonable, good-faith determination of what should qualify on an individual basis.

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6 | The Consulting Actuary | Volume XXIII, Number 2

Inside an ABCD DeliberationOctober 5, 201112:30 PM – 1:45 PM EDTRegister Now

You’ve probably seen “tombstones” that occasionally appear in an actuarial organization’s newsletter. These notices publish the name of an actuary who has been found by that organization’s Discipline Committee to have materially violated the Code of Professional Conduct, and usually also materially violated an Actuarial Standard of Practice. There may be a short description of the actuary’s actions that comprise the violation. The public discipline is a public reprimand, a suspension or an expulsion from the organization. There is another form of discipline, private reprimand. All discipline remains on the record of the subject actuary.

Although each applicable actuarial organization selects and administers its own discipline, if any, each relies heavily on the findings and recommendations of the ABCD. If the case is not dismissed earlier in the process, the ABCD holds a hearing and deliberates. If it finds material violations, it decides what discipline to recommend. Thereafter, the ABCD provides a findings and recommendation letter along with the hearing transcript to each applicable organization.

This session will emulate the deliberation process used by the ABCD after the Subject Actuary and the investigator have finished testifying and have left the hearing. In this session, the speakers will role-play as ABCD members and:

• Identify the facts of the mock case as they understand them• Record a time-line of the case• Determine whether specific Precepts or ASOPs have been violated• Discuss any mitigating or exacerbating facts or circumstances• Determine whether violations are material• Discuss what level of discipline, if any is appropriate, should be

recommended to the Subject Actuary’s membership organization(s)

The case presented is entirely fictitious, and is not based on any prior cases referred to the ABCD. The mock deliberations during this session will be greatly condensed from what actually occurs in a real case.

Robert J. Rietz, FCA, EA, MAAA, FSA, MSPA recently retired from being a Director in the Detroit office of Deloitte Consulting LLP, and led the Total Rewards practice in Deloitte’s North Central region. He was their Chief Pension Actuary from 2006 to 2009, and has over 30 years of experience in the employee benefits consulting arena. He was the General Director of Rewards for a large health insurance company for three years.

Mr. Rietz is a member of the Actuarial Board for Counseling and Discipline, a former President of the Conference of Consulting Actuaries and a former Vice President of Professionalism of the American Academy of Actuaries. He was appointed by Governor John Engler to serve as the public representative on the board of the Michigan Public School Employees’ Retirement system, serving from 1995 to 2001.

Mr. Rietz was awarded the John Hanson prize in 1998 for the best paper on employee benefits, and is an occasional contributor to Contingencies magazine, and has authored several editorials on social security for the Oakland Press. He is a frequent speaker at annual meetings of the Conference of Consulting Actuaries

Audiocast Facts October 5, 2011 12:30 PM – 1:45 PM EDTCredits*

EA Core: 1.5 EA Core/Ethics: 1.0EA Non-Core: 0 EA Formal: 1.5 +

CPD Credit 1.5

PresentersRobert J. Rietz, FCA, EA, MAAA, FSA, MSPA; Carol R. Sears, FCA, FSPA, MAAA, CPC, EA

Intended Audience:Actuaries interested in learning how the Actuarial Board for Counseling and Discipline determines recommendations for disciplinary action.

*EA credits are subject to final approval by the Joint Board for the Enrollment of Actuaries. +Under the revised JBEA requirements, groups of three or more participants who are engaged in substantive pension service and are in the same physical location throughout the entire presentation may participate in a formal program in person, via the Internet, videoconferencing, or teleconferencing. CPD credits earned under the Qualification Standards are suggested. However, each actuary has theresponsibility to make a reasonable, good-faith determination of what should qualify on an individual basis. qualify on an individual basis.

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Volume XXIII, Number2 | The Consulting Actuary | 7

continuing educAtion offerings

conference news

and the Society of Actuaries, as well as the Enrolled Actuaries meeting on topics such as professionalism, communications and accounting for pension and retiree medical plans.

Mr. Rietz is a graduate of Michigan State University, with a Bachelor of Science in Mathematics.

Carol R. Sears, FCA, EA, FSPA, MAAA, CPC, is a Principal of Actuarial Consulting Group, Inc., an employee benefits consulting firm. She has over 30 years of experience in the employee benefits consulting field. She is past chair and member of the Actuarial Board for Counseling and Discipline, a former President and Vice President of the American Society of Pension Actuaries (ASPPA), and a former member of the Advisory Committee for the federal Joint Board for the Enrollment of Actuaries. She is the Conference of Consulting Actuaries current Vice President for Professionalism.

Ms. Sears has also served as ASPPA’s Technical Education Consultant and as General Chair of ASPPA’s Education and Examination Committee. She is a frequent speaker and author on topics relative to retirement plans and other employee benefit programs, has testified to Congress about the pension industry, and was a leader in the “Conversation on Coverage” effort, an initiative to conduct a national dialogue on expanding American workers’ retirement savings.

Ms. Sears was the 2005 recipient of ASPPA’s prestigious Educator’s Award, in recognition of her significant contributions to retirement plan education. She has won numerous business awards, including the 25 Women in Leadership Award, in recognition for her contributions to the betterment of family, business, and community in central Illinois.

Ms. Sears is a graduate of the University of Illinois, with a degree in actuarial science and finance.

IAS 19/Global Assumptions November 9, 201112:30 PM – 1:45 PM ESTRegister Now

Speakers at this session provide a comparison to FAS 87 and how it currently applies in a variety of countries. The speakers also discuss the similarities and differences between IAS 19 and FAS 87 along with some nuances of how IAS 19 is applied around the world.

Professionalism: Difficult CommunicationsDecember 7, 201112:30 PM – 1:45 PM ESTRegister Now

Scott D. Miller - Actuarial Consulting Group, Inc.Lauren Bloom - Elegant Solutions Consulting, LLC.

This audiocast provides practical, hands-on advice to help actuaries communicate effectively in difficult situations. Topics may include:

• Recognizing when communications are likely to be difficult; the actuary’s responsibilities to communicate under the Code of Professional Conduct and Actuarial Standards of Practice (ASOPs);

• choosing the communications medium and timing of the communications;• avoiding legal pitfalls when communicating bad news;• documenting communications.

Participants will come away better able to communicate effectively in difficult situations.

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8 | The Consulting Actuary | Volume XXIII, Number 2

September 15-16, 2011ARIA ResoRt & CAsIno • LAs VegAs, nV

2011 Casualty loss ReseRve seminaRReseRving, the undeRwRiting CyCle and the eConomy!

Attend the 2011 CLRS to stay current with industry developments in reserving and to learn from expert analysis of the underwriting cycle and the economy!

why attend? • Continuingeducationhoursfrommorethan60sessions,including

interactive/hands-onlearningandspecificcasestudies.• BasicandadvancedtopicsincludingReinsurance,Accounting,

EmergingRisks,andRegulatoryIssues.• Extensivenetworkingopportunities!• Exhibithalldisplayofrelevantproductsandservices.

exhibitoRs:Don’tmissthechancetoshowcaseyourproductsandservicesatCLRS.Spaceislimited,soacttoday!

Registration is open! Visit www.casact.org/clrs

Sponsoredby:

International Actuarial Association 2012 Mini-Congress

The Actuarial Profession and Social and Economic Development

A Mini-Congress of the International Actuarial Association will be held in Hong Kong from May 6 - 9, 2012. This event is being organized and hosted by the Actuarial Society of Hong Kong and will be held at the Sheraton Hong Kong Hotel & Towers, Tsimshatsui, Kowloon.

The theme of the Mini-Congress is The Actuarial Profession and Social and Economic Development. The program will include plenary sessions with formal addresses by invited keynote speakers, topical presentations by subject-matter experts, and parallel sessions at which submitted papers will be presented.

For more information visit http://www.actuaries.org/HongKong2012/index.cfm

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Volume XXIII, Number2 | The Consulting Actuary | 9

continuing educAtion offerings

conference news

Encapsulated analyses of hot topics in the profession: Pension Update, Professionalism: ABCD Overview & “I Have a Friend Who”, Healthcare Reform Update/Overview, and a deli buffet luncheon is included with registration cost.

Advancing The Practice ®

Tuesday, September 13, 2011The Magnificent Mile, Chicago, Illinois

TMConsulting ActuariesConference of

Traveling Seminar

CLICK HERE FOR DETAILS ON OUR NEXT STOP

Atlanta, Georgia

Are you hungry for formal face-to-face credit? Are you meeting your annual CPD requirement? Do you find it challenging to commit to time away from the office to attend CCA's Annual Meeting? Or, do you just want to keep up to date with the latest developments impacting the actuarial profession? If you’ve answered yes, then plan on joining us in Chicago.

5.4 EA Core/Formal Credit & 1.8 EA Ethics Credits7.2 CPD Hours If Attending All 3 Sessions

click here for More detAils on this seMinAr

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10 | The Consulting Actuary | Volume XXIII, Number 2

AdvAncing the PrActice®

CCA’s New Continuing Education Certificate of Attendance FormatChanges Made to Comply With New JBEA Regulations

If you attended the 2011 Enrolled Actuaries Meeting, or any of our recent Audiocasts, you received updated certificates consistent with the new regulations for Enrolled Actuaries that went into effect on May 2nd and are retroactive to January 1, 2011. This credit information is also available and updated on the CCA credit tracking tool, at actuarialcpd.org.

While the list of sessions you attended is consistent with the certificate you previously received, there are a few changes in the new certificate layout:

• Speakers are included in the title for each session;• An “EA Formal Credit” column is added to show the

amount of Formal credit earned; and• An “EA Ethics/Core Credit” column is added to show

the amount of Ethics credit earned.

For further information you can view the new regulations at http://edocket.access.gpo.gov/2011/pdf/2011-7573.pdf or contact the Joint Board for the Enrollment of Actuaries at (202) 622-8229 or [email protected].

Find The Date of Your Updated Certificate

Changes Made to Certificates to Comply With New JBEA Regulations

Revisions to the certificates are highlighted in redChanges Made to Certificates to Comply With New JBEA Regulations CE Event Event Date Updated Certificate

E-MailedEA Meeting March 27-30, 2011 July 7, 2011EA Meeting (Session 607 Attendees Only)

March 29, 2011 July 28, 2011

Professional Standards Seminar

March 27, 2011 June 30, 2011

Consulting Skills Seminar

March 30, 2011 June 30, 2011

Pension Symposium

March 30-31, 2011 June 30, 2011

PPA Hot Topics Audiocast

May 11, 2011 July 8, 2011

Employee Plans Compliance Resolution System Audiocast

June 15, 2011 July 8, 2011

New Regulations for Enrolled Actuaries Audiocast

June 22, 2011 July 22, 2011

Professionalism: ASOP 41 – Actuarial Communications Audiocast

July 13, 2011 July 22, 2011

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Volume XXIII, Number 2 | The Consulting Actuary | 11

conference news

CCA Welcomes New MembersThe Conference congratulates and welcomes the following new members since our last issue.Andrea L. Abolafia, FCAAfsar Ahmed, FCAKathleen R. Arendt, FCABeverly Vernelle Bailey, FCADavid Balsam, FCABill Beck, ACALucy W. Bonacquist, FCAGerald F. Boulet, FCATimothy George Bowen, FCASharlene Tracy Braun, FCAAnn R. Bryant, FCAKati Buccinna, ACANancy E. Campbell, FCACharles T. Carr, FCAJulia Chernyak, ACAGary Edward Cline, FCAPatricia J. Conger, FCAKathleen Simmons Cost, FCAKathryn I. Curry, FCAFrederica Spadacenta Daniels, FCAKenneth M. deCesare, FCAMichele M. Domash, FCAChristine J. Drager, FCABrett Brooks Dutton, FCAKaren Earley, FCAGuy Louis Ehlbeck, FCAParker E. Elmore, FCANicholas A. Franklin, FCAPaula C. Freiman, FCACharles B. Friedlander, FCAMargaret W. Furey, FCAKathryn A. Garrity, FCA

Deanna Gee, FCACraig Russell Graby, FCAAndrew A. Gundlach, FCAConstance Dalmadge Hall, FCAMichael Allen Holderman, FCAFrank Iannucci, FCAChristopher F. Jones, ACAYuliya Kandratsenka, FCADavid T. Kausch, FCAEric A. Keener, FCALester A. Kodama, FCAGeoffrey Kuhn, FCANicole Marie Lambert, FCABrad R. Lankford, FCAStewart D. Lawrence, FCAJessica C. Luo, ACAHarry S. Lutz, FCARachna Malhotra, FCAPamela L. Marlin, FCAVicki A. Mazzie, FCAPaul G. Meixler, FCAJose C. Montenegro, FCABrent M. Mowery, FCAJayjit Ranjit Nandwana, FCAWilliam T. O’Brien, FCASandra Vaivads Pangburn, ACARebecca Pauwels, FCAFrancois Pieterse, ACAMichael F. Pollack, FCAClaude Poulin, FCASam Prasad, FCARussell S. Proctor, FCA

John R. Rath Jr., FCABrian J. Ritchie, FCASharon Roberts Rivais, ACAJose A. Rojas, ACAPhillip A. Romello, FCACatherine Roy, ACATroy A. Schnabel, FCATodd A. Schroeder, FCADan Shachak, ACANauman M. Shaikh, FCAJames Bernard Sharkey, FCAJeffrey S. Shouldis, FCAAndrew T. Smith, FCARichard C. Smith, FCAJennifer D. Sorensen, FCAJohn D. Stiefel Sr., FCADavid H. Stimpson, ACAMichael Steven Taylor, ACAFrancis A. Tharsius, FCAMohammad Sohrab Uddin, FCALisa G. Ullman, FCAAndrew Russell Vega, FCAJohn F. Wade, FCAChun-Lei Wang, FCAShu-Hui Wang, FCAJoseph Bradly WeatherlyClark H. Weeks, FCASoo Bong Yoon, ACANathan Christopher Zahm, ACAWei Zhao, FCAJohn Zomchick, Jr., FCA

Join The New CCA Group on LinkedIn®

Stay up-to-date on the very latest developments with the Conference and with the profession in general by joining the new CCA LinkedIn® Group.

Post a question, continue a discussion you started at a meeting, catch-up with colleagues, or scan for job openings; the Conference group is what you make of it.

The group is the first in a series of new initiatives suggested by the CCA Young Leaders Council. Join us on LinkedIn®

now and get connected. Click here for more details.

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12 | The Consulting Actuary | Volume XXIII, Number 2

AdvAncing the PrActice®

ERM Research Excellence Award in Memory of Hubert Mueller Winner Announced

The Actuarial Foundation congratulates Neil M. Bodoff, FCAS, MAAA, who was recognized with the ERM Research Excellence Award in Memory of Hubert Mueller at the 2011 ERM Symposium in Chicago for his paper, “Sustainability of Earnings: A Framework for Quantitative Modeling of Strategy, Risk, and Value”. Bodoff’s paper presents an innovative framework through which strategic considerations can be incorporated into a quantitative model of a firm’s value. The paper is available online at www.actuarialfoundation.org/pdf/erm2011.pdf.

The ERM Research Excellence Award in Memory of Hubert Mueller recognizes significant contributions to the growing body of ERM knowledge and research through the best paper submitted for consideration at the ERM Symposium. It is funded by contributions from Hubert’s colleagues and friends throughout the insurance industry, as well as by Towers Watson. Contributions in memory of Hubert Mueller may be made through the Foundation’s website, http://www.actuarialfoundation.org/donate/index.shtml.

Join Conference Members Who Are Doubling Their Impact in Classrooms Nationwide

It may be summer vacation for students, but for teachers this is the time when they are busy developing their lesson plans for the coming school year. The Actuarial Foundation has a list of hundreds of these teachers who want to include the Building Your Future financial literacy curriculum resource in their instruction this year, but they need you to make this happen!

Join Conference members who are sponsoring these teachers with classroom sets of Building Your Future materials—and doubling their impact. Through the Conference Matching Gift Program, the Conference will match all member donations, dollar for dollar, up to $15,000 for the year. This is a fantastic opportunity for you to provide an award-winning resource to teachers and their students and to showcase the generosity of Conference members. This generosity is appreciated:

“Thank you for the donation of a classroom set of Building Your Future. With school budgets being tight, this donation is very much appreciated.” Conference-sponsored teacher, Carney High School, OK

View the Building Your Future waiting list at http://www.actuarialfoundation.org/donate/cca.shtml and make your matching gift sponsorship today.

Are You Looking for a Speaker for Your Actuarial Club or Corporate Event?

If you struggle with finding topics, speakers or new ideas to present to your colleagues, consider bringing the activities and initiatives of The Actuarial Foundation to your group. Contact the Foundation to learn about presentation opportunities for your upcoming events.

Learn More About the Foundation

Learn about all of The Actuarial Foundation’s programmatic activities and impacts by staying tuned to the Foundation’s website and reading our donor newsletters.

You can also read about the Foundation’s impacts in the 2010 Annual Report.

Updates From The Actuarial Foundation

Neil Bodoff accepts his award from Jack Gibson.

“THE PREMIER MEETING FOR CONSULTING ACTUARIES”

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2011 ANNUAL MEETINGLAS VEGAS NEVADA

Conferences · Community · Advanced Learning

Advancing the Practice®

TMConsulting ActuariesConference of

CONFERENCE OF CONSULTING ACTUARIES2011 ANNUAL MEETING

OCTOBER 23 – 26, 2011

A RESORT JUST 20 MINUTES FROM “THE STRIP”

JW MARRIOTT LAS VEGAS RESORT & SPA

CAN WE COUNT YOU IN ?

“THE PREMIER MEETING FOR CONSULTING ACTUARIES”

REGISTER AT: CCACTUARIES.ORG

AdvAncing the PrActice®