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AN INTRODUCTION TO THE

Draft 8-24-10. AN INTRODUCTION TO THE. Social Insurance and Public Finance Section (SIPF). SIPF - Mission. Transfer intellectual capital to the broader actuarial and related business community and the public via publications and other means.

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AN INTRODUCTION TO THE

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  1. Draft 8-24-10 AN INTRODUCTION TO THE Social Insurance and Public Finance Section (SIPF)

  2. SIPF - Mission • Transfer intellectual capital to the broader actuarial and related business community and the public via publications and other means. • Sponsor fundamental research into evaluating and managing social insurance programs. • Develop consistent, high quality education opportunities. • Complement and contribute to other SOA sections and professional organizations. • Work with established professional organizations, such as the American Academy of Actuaries, the National Academyof Social Insurance and others to share viewsand experience, and leverage resources. -1-

  3. SIPF – Areas ofFocus • Social Security • Medicare • Medicaid • Public pension plans • PBGC • Workers compensation • Unemployment insurance • Other national (including state & local) and international social insurance and public finance programs -2-

  4. SIPF –Illustrative Issues • Social Security and Medicare – the case for actuarial balancing. • The Patient Protection and Affordable Care Act… The challenge of effective and efficient implementation. • California pension plan – proposed $600 million fix for $55-65 billion problem. • Public pension plan under-funding is a headline story in states like California, Illinois & New Jersey. -3-

  5. SIPF - Genesis CRUSAP: • Recommendation that the profession “encourage individual actuaries to gain sufficient knowledge to speak out on actuarial elements of major public issues.” • “Diversity of opinion need not be discouraged, so long as the opining actuary complies with actuarial science and applicable actuarial standards.” -4-

  6. SIPF – Genesis (continued) North American Actuarial Organizations: • Signed an agreement to operate in the public interest; • Agreed to work to identify and promote public interest in actuarial work; and • Reaffirmed that the core of any profession is the concept of service to the public. -5-

  7. SIPF – Genesis (continued) SIPF Organizers: • Saw a need to form a new SOA Section to address the directives of CRUSAP and the North American Actuarial Organizations. • Petitioned the SOA Board to form SIPF and quickly recruited 200 SIPF members to enable a quick SIPF launch in mid-2010. -6-

  8. SIPF – First-Year Milestones • Approved by SOA Board in March 2009. • Fastest growth to full section status in SOA. • Was the fastest growing section in SOA history (current membership exceeds 600). • Published two stimulating newsletters. • Held monthly conference calls and periodic face-to-face meetings. • Encouraged frequent Council member participation with outside organizations. • Encouraged continuing outreach to non-actuaries (e.g., economists, academics, corporate executives and politicians). -7-

  9. SIPF – Getting the message out • Webcasts (e.g., Public Pension Plan webcast in October) • Sessions at annual and spring SOA meetings • Presentations at actuarial clubs • Newsletter - In the Public Interest • Call for articles contest • Website (http://www.soa.org/professional-interests/social-ins/default.aspx) • Latest news • Upcoming events • Publications • Bibliography (planned addition) • Liaisons to: • International organizations • Other actuarial organizations • Other sections • Non-actuarial groups (e.g., NASI, Peterson Foundation, Urban Institute) -8-

  10. SIPF – Who we are Professionals – actuarial and non-actuarial – business and academia - national and international – with interest in examining and addressing relevant topics and trends related to social insurance and public finance in professional areas including: • Enterprise risk management, • Health, • Pension, • Property/casualty and • Life. -9-

  11. SIPF – Current Section Leadership The 2009-2010 Council • Bob Shapiro – Co-Chair • Fred Kilbourne – Vice Co-Chair & Strategic Planning • Jay Jaffe – Treasurer • Jan Carstens – Secretary • Mark Litow • Ardian Gill • Gordon Latter • Rob Brown • Warren Luckner • Selig Ehrlich Friends of Council • Board Partner – Valerie Paganelli • Editor – Bill Cutlip • Associate Editor – Doug Andrews • Website Coordinator – Andy Rarus • Staff Partner – Andrew Peterson • Section Specialist – Jill Leprich • Bart Clennon • Jeremy Gold • Many generous volunteers and friends -10-

  12. SIPF – Open Volunteer PositionsInclude: • Continuing education coordinator • Volunteer coordinator • Liaison coordinator . . . . . . . . • If you’re not an SIPF member, please join. • The annual membership fee is $25. • Tell us how you would like to help! -11-

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