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Valuation Manual (VM)-22 (A) Subgroup

2020 Membership

2020 Charge

The VM-22 (A) Subgroup will:

  1. Recommend  requirements, as appropriate, for non-variable (fixed) annuities in the accumulation and payout phases for consideration by the Life Actuarial (A) Task Force.  A PBR methodology will be considered, as appropriate.
Calendar
VM-22 (A) Subgroup

Public Conference Call
Monday, October 26, 2020
3:00 PM ET, 2:00 PM CT, 1:00 PM MT, 12:00 PM PT
Expected Length of Call: 1 hr
Webex Link

The purpose of the call will be to discuss the development of a PBR approach for fixed annuities.

VM-22 (A) Subgroup

Public Conference Call
Wednesday, October 28, 2020
12:00 PM ET, 11:00 AM CT, 10:00 AM MT, 9:00 AM PT
Expected Length of Call: 1 hr
Webex Link

The purpose of the call will be to discuss the development of a PBR approach for fixed annuities.

VM-22 SG 200715

Public Conference Call
Wednesday, July 15, 2020
3:00 PM ET, 2:00 PM CT, 1:00 PM MT, 12:00 PM PT
Expected Length of Call: 1 hr
Diamond Pass Link

The purpose is to continue discussion of principle-based reserves for VM-22.

  1. Summary of subgroup’s current positions to present to LATF.  (Bruce Sartain)
  2. Develop Standard Projection Amount analogous to VM21’s, and decide after field testing whether floor or disclosure?  (Bruce Sartain)
  3. Begin discussion of reinvestment guardrail options, for purposes of spread and default assumptions:  (Chris Conrad)
    1. VM20/VM21: 50% A, 50% AA
    2. VM22:            5% Treasuries, 15% Aa, 40% A, 40% Baa
    3. Other
VM-22 SG 200701

Public Conference Call
Wednesday, July 01, 2020
3:00 PM ET, 2:00 PM CT, 1:00 PM MT, 12:00 PM PT
Expected Length of Call: 1 hr
Diamond Pass Link

The purpose is to continue discussion of principle-based reserves for VM-22.

1. Introduction and next steps (Bruce Sartain)
2. Develop Standard Projection Amount analogous to VM21? (Bruce Sartain)
3. Aggregation education session (Ben Slutsker)

VM-22 SG 200611

Public Conference Call
Thursday, June 11, 2020
11:00 AM ET, 10:00 AM CT, 9:00 AM MT, 8:00 AM PT
Expected Length of Call: 1 hr
Diamond Pass Link

The purpose of the call is to discuss exclusion tests for VM-22.

VM-22 (A) Subgroup 200520

Public Conference Call
Wednesday, May 20, 2020
3:00 PM ET, 2:00 PM CT, 1:00 PM MT, 12:00 PM PT
Expected Length of Call: 1 hr
Diamond Pass Link

The purpose of the call is to receive an update from the Academy Annuity Reserves Work Group.

Related NAIC Publications

Draft meeting minutes are available free for meeting attendees 10 business days after a national meeting concludes, using the User ID and Password supplied by the NAIC. Regulators may access minutes via StateNet.
Final committee minutes and Proceedings of the NAIC are available to non–attendees, after adoption at the next national meeting, for free in the PDF format through the NAIC Products & Services website.

Contacts

Media Inquiries
(816) 783-8909
news@naic.org

Reggie Mazyck
Life Actuary 
Phone: 202-471-3991

Please see the current Committee List for a complete list of committee members.