Description: As part of the 2019 Disruptions to the Actuarial Profession Contest, this essay posits that the actuarial profession should respond to other fields encroaching on its space, particularly software development and data science, not by a defensive reaction to establish a boundary between fields but instead by a welcoming attitude that seeks to utilize expertise from other fields while maintaining the actuarial role of comprehensive risk management and its hard-earned professional trust.

Description: This article summarizes the treatment of changes in the basis for determining life insurance tax reserves under prior law and describes the changes enacted by the Tax Cuts and Jobs Act. It further explains the procedures for changing the basis of computing reserves under the new rules as outlined in Revenue Procedure 2019-10, the IRS’s December 2018 guidance on the subject, and discusses the uncertainties that remain.

Description: NAIC Approves SOA GI Track for Qualified Actuary Education.